Analyzing the Macro Environment's Influence on Global Events: A Report

This report examines the multifaceted impact of the macro environment on global events, employing the PESTLE framework to analyze political, economic, social, technological, environmental, and legal factors. It discusses how these factors influence event planning, organization, and success, providing examples such as the Olympics. The report also explores risk management strategies and the use of SWOT analysis to identify strengths, weaknesses, opportunities, and threats. It offers recommendations for improvements and solutions to minimize adverse impacts, emphasizing the importance of adapting to environmental changes and leveraging technology. The conclusion highlights the key factors influencing event development, including industry growth, demand, sociocultural development, and global expansion opportunities. The report also includes references to relevant academic sources.

Global Events

Determining the positive and negative impacts of
macro environment on global events
In order to determine the positive and negative impact of macro environment on global
event, here is select PESTLE framework which are as follows:
Political factor:
 Political factors refers with different aspects which are tax policy, government policy,
environmental law, labour law, trade policies and so on. This gives negative and
positive impact on the event. In order to organise Olympics event planner and manager
have understand and collect information about tax policies for positive impact .
Otherwise, it gives negative impact on event.
Economical factor:
 Economic factors have the significant impact on organisation and profitability. This
includes economic growth, interest rate, exchange rate, inflation and disposable income
of customers and business. For organizing Olympic, the event organizer is have to
understand economic growth of country for successful event.

CONT..
Social factor:
 Social factor is involves the shared belief and attitudes of customers. This factor is
highly impact to event because changes in customer taste and preference. New trends
are influence taste and preference of customers in negative manner which can affect to
event organizer for successful event.
Technological factor:
 Technological factors refers with new and advanced technology at marketplace. In
order to organize successful Olympic event organizer have to understand the uses of
new technologies in order to satisfy needs of customers for positive impact. In the
absence of this, customers are faced various problems.

CONT..
Environmental factor:
 Environmental factors refers a some changes in weather and climate. That can gives
negative impact on event. In order to same event organizer have take information about
weather through weather forecast for handle that at the time of event for positive
impact.
Legal factor:
 There are different laws and regulations which can impact to event. For organize
Olympics event planner have know about those laws which can affect to event success
for positive impact. Otherwise that may gives negative impact on business.

Macro environment factors influence on global events
industry
 The macro environment factors influence on global event industry in both ways
negative and positive impacts. This help to Olympic organiser for sustainability of
event in proper manner.
 There are different factors those gives impact like demographic, political and
sustainability
 For example: as per the employee compensation law employer have to take care and
provide safe equipments to their employees at the work place, if employee is injured in
that case employer have to provide compensation against of their injuries for positive
impact.
 Otherwise that gives negative impact on global event at workplace because employees
are not able to give hard contribution for success of event.

Recommendations for improvements and solutions for
a specific event ensuring that these will minimise
adverse impacts
 Every business has to face risks and these risks lead to barrier in the success of the
business. To minimize to adverse impacts on macro events risk has to be defined. Risk
management is basically management of risks through tools, method and processes.
 To increase the global events business profitability there are four key area where the
organization has to focus on increasing efficiency, production and turnover and
reducing costs
 Cost can be reduced in several ways such as by negotiating with the supplier for the
various goods required in Olympic games, using a finance/loan benefits, by making
maximum use of the available premises and by minimizing the production cost of the
event such as by hiring the labour on hourly basis.

Using a SWOT analysis tool
 Good vision and realistic are the main characteristics of successful event organizer.
They must be having the knowledge to find out the various strengths, weaknesses,
opportunities and treats associated with their business. The SWOT analysis for
successful planning of Olympic events is as follows.

CONT..
 Strength for events strength could be the idea that this type of event has never taken
place that means this arrangement of event is unique in its own. Having a self-
motivated and experienced team of management could also serve as a strength for the
global events. Usage of social media as a marketing platform and proper financial
planning of the complete Olympic event would result in the success of the event.
 Weaknesses there are various weaknesses that are generally associated with event
organization that results in the un-success of the business such as lack of funds. Fund is
the essential need of an successful business. Due to higher expenditure on sports
equipments, setup and venue rentals, shortage of fund could also occur. The event team
must be self enthusiastic, well-trained, self disciplined and experienced to eliminate the
weaknesses associated with the event organization. Lack of technology could also lead
to slower growth.

CONT..
Opportunities
 The various opportunities associated with the successful event planning are creating
external factors such as severing new customers with the change in the market trends to
make greater profits. Event company may conduct training programs in order to gain
extra income. The event company could conduct other events such as various cultural
and social events.
Threats
 Threats are the barriers associated with success of any business. For an event
organisation firm the various threats are man made and natural disasters for example
such as terrorist attacks at the place where the event is happening or either some natural
disasters such as flood, tsunami, earthquakes.

Criteria that are essential for the successful planning of
events
 Once the organisation has gained enough knowledge about the various problems and
risks associated with the event business.
 They could take various considerable steps for successful growth of the company. As
most of the time government policies affects the events so the event company must
develop its business framework in way that is flexible and adaptive in environmental
terms. Use of technology could also serve the event organization to grow at the faster
pace.

CONCLUSION
 From presentation it can be concluded that factors that influence the development of
events on global as well as local level are growth and emergence of event industry,
demand and motivation for different types of events, events history and socio cultural
development, global expansion opportunity, etc.

REFERENCES
Books and journals
 David, C.C., Ong, J.C. and Legara, E.F.T., 2016. Tweeting Supertyphoon Haiyan:
Evolving functions of Twitter during and after a disaster event. PloS one. 11(3).
p.e0150190.
 Fadini, G.P. and Avogaro, A., 2017. SGLT2 inhibitors and amputations in the US FDA
Adverse Event Reporting System. The Lancet Diabetes & Endocrinology. 5(9). pp.680-
681.
 Katsikeas, C.S., Morgan, N.A., Leonidou, L.C. and Hult, G.T.M., 2016. Assessing
performance outcomes in marketing. Journal of Marketing, 80(2), pp.1-20.