Impact of Macro Environment on the Global Events Industry

This report provides a comprehensive analysis of the impact of the macro environment on the global events industry. It begins by defining global events and outlining the importance of environmental analysis for successful event management. The report then delves into the positive and negative impacts of global events on the macro environment, utilizing the PESTLE analysis tool to examine political, economic, social, and technological factors. Specific examples, such as the London 2012 Olympics, are used to illustrate these factors' influences. The report offers recommendations for minimizing adverse impacts and maximizing profits in event planning. Furthermore, it includes a SWOT analysis of the Edinburgh International Festival in Scotland, evaluating its strengths, weaknesses, opportunities, and threats. The report critically evaluates the criteria essential for successful event planning, considering both internal and external environmental factors. It concludes by emphasizing the importance of environmental analysis and SWOT analysis for event management companies to achieve competitive advantages.

Global
Events

Table of Content
 Introduction
 Determining effect that positive and negative impacts of global events have on macro
environment
 Using specific examples, evaluation of macro environmental factors and their influences
on global events industry
 Providing recommendations for improvising and solutions for particular event ensuring
than these will minimise adverse impacts and also maximise profits
 Using a SWOT analysis tool, report on a specific event examining
 Conclusion

Introduction
 To start and running a business successfully
analysis of environment is most important that
used by industries for the making right decisions.
Global event is organized for inviting people who
belong to different countries and location to
participate and getting success.

Determining effect that positive and negative impacts of
global events have on macro environment
 Global event is defined as planning and functions that take places worldwide. To organize event at global level
might be affected due to changing in environment. The impact of Global event on macro environment is
defined below:
 PESTLE Analysis: This tool is used by business industries to conduct environment analysis and make decision
accordingly. The PESTLE analysis is defined below:

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 Political factor: This involves government regulation, political stability, tax rates, and
other in relation to country that affected businesses.
 Economic factor: This factor is related to economy, interest rates, inflation, and
exchange currency rates that directly affects business industry as well as country
condition. The impacts of Olympics 2012 London is defined as:

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 Social factor: This factor is related to society, culture, values and norms of people who
lives at different location and affected event such as:
 Technological factor: This factor involves technology, innovation, process and
activities that needs to perform and manage the functions effectively. The impact of
technological factor on global event is defined as:

Using specific examples, evaluation of macro environmental
factors and their influences on global events industry
From the above it has been analyzed that macro environment factor such as political,
economic, social and technological used by London for operating Olympics 2012 in their
past period. In this, management has conducted environment analysis that have shown path
to manage the activities and functions properly.

Providing recommendations for improvising and solutions for particular event
ensuring than these will minimise adverse impacts and also maximise profits
 To organize an event successfully and minimizing negative impacts each event
management industry and businesses should be analysis the environment that could
help to know which factor might be impacts negatively. This can help to make right
decision and convert in to profits. This also helps to develop the economic condition of
particular country and manage each function.

Using a SWOT analysis tool, report on a specific event
examiningThe Edinburgh International Festival in Scotland organised by community where management has done SWOT
analysis defined below:
Strength Weakness
 • The geographic presence in different regions can act
as one of the major strength of the organization.
 • The wide product portfolio can allow the
organization to expand the customer base
 • Workplace diversity can also act as a major business
strength, particularly when the organization intends to
operate in the international market.
 • Strong online presence on different social
networking sites and efficient social media management
can enhance the effect of positive e-WOM and develop
strong relationships with customers.
 • Strong financial position and health can allow the
 • The organization can draw the criticism from the
environmentalists for its poor waste management
practices and inability to integrate sustainability in
business operations.
 • The company may lose efficiency due to poor
inventory management practices. The shortage or
excessive inventory can either result into
 • The cash shortage or insufficient current assets
negatively affect the liquidity position and harms the
overall business performance.
 • Insufficient budget for the marketing and promotion
activities weakens the firms’ ability to expand the

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Opportunities Threats
 • The exponential growth in the population, and particularly
in the existing or potential customer segments is a great growth
opportunity for the business organisation.
 • The changing customer needs, tastes and preferences can
act as an opportunity if the business organisation has good
market knowledge.
 • The use of new technologies that assist the product/service
production
 • Rise in the customers’ disposable income and increase in
the affluent customer base
 • Reduction in the interest rates makes the fund raising and
financing at lower cost easier for the business organisation.
 • The subsidies provided by the government and other
 • Shortage of skilled labour in the market can
make it difficult for the organisation to attract talent
with the right skills set.
 • The increasing number of direct and/or indirect
competitors affects the organisation's ability to
sustain and expand the customer base.
 • The deteriorating economic conditions affect
business performance when they directly influence
the customers' spending patterns and purchasing
power.
 • The rise in inflation increases the cost of
production and affects the business profitability.

Critically evaluate the criteria that are essential for
the successful planning of events. Take into
consideration the impacts of both the internal and the
external environments
 From the above it has been critically analyzed that SWOT analysis is used
by event management companies to follow up their stages and managing
all functions effectively. This can help to bring changes in existing
performance and maintain higher performance by organizing event
successfully.

Conclusion
 From the above report it can be concluded that environment analysis is important for
event industry and other businesses as it supports to know how these factors could help
to develop business opportunities. SWOT analysis is used by management for
organising event successfully and attaining competitive advantages.