Report on Global Events: Macro Environment, SWOT Analysis, and Impacts

This report provides an overview of the global events sector, focusing on the impact of the macro environment and a SWOT analysis. The introduction defines event management as a project management process, highlighting the importance of strategic planning, budgeting, and team coordin...Read More

Global events

Table of Content
 Introduction
 Positive and negative impacts of macro environment upon international events
sector
 SWOT Analysis
 Conclusion
 References

Introduction
Event management is define as the process of project management which are executed in
real life scenarios. Basically it is term as the approach in which activities are performed
in for conducting parties, special occasions and many other festivals. In order to conduct
an event, different strategies and plans are been formulated which includes decisions
regarding budget, selection of place, decoration, theme of event and many other factors.
Event management is a systematic process where activities and tasks are carried in
coordination and cooperation with team members in order to make the event successful

Positive and negative impacts of
macro environment upon
international events sector
Macro environment is described which consider external components influencing business
operations. It is a strategic tool which is used to analyse the impact of external analysis
over the business enterprise. These have essential influences upon company’s performing
actions that drive regarding issues. Global occasions occur at global that conducts its
actions subsequently. Thus, the macro atmosphere influences at international occasions
are declared as below:
 Physical and environmental factors
 Tourism factors
 Social and cultural factors

SWOT analysis
SWOT analysis is viewed as tool that are used in finding out as well as measuring and
determining interior capabilities and strengths. Moreover, this is time taking
processes because it requires depth knowledge for that determination of market
place is needed to be executed. In reference to several international events, the
strengths, weaknesses, growth options and risks are stated as below:

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Strengths Weaknesses
 One of the main capability of international occasion is, the management
in to this industry are well competent as well as organise several
functions that are related with accomplishing aims which aids event
administrators in developing efficiency.
 The efficient return over investment is strength of event industry it is so
this executes over higher profit margins which help in increasing
investment rate as well as facilitated better returns.
 It requires larger cost over planning and designing platform for
occasions which is also ineffective expenditures in case it will not opted
by consumers and target audiences.
 Occasions incorporate large cost which may act as distrustful
component cause of failure of occasions may drives regarding high loss.
Opportunities Threats
 Use of ethical activities within industry is immense options of
development for venture which is executing within the event industry. It
is so, this will aids in clutching the huge customers and complying
directions with ethical benchmarks.
 In current era, there is trend if automation and digitalisation which is an
growth option for business firm, it aids them to administrate practices as
well as using them associated to automatic accomplishment.
 The corona virus pandemic is the great threat for event industry because
it creates impact over the global occasions in term of negatively. The
events are closed globally. This influence development if new norms in
context of respective industry for executing diverse limitations.
 Change in government policy is another risk which affects the entire
event sector. Due to COVID 19 crisis, national authorities of different
nations make modifications in their event and health related laws.

Conclusion
As per above report, this has been summarised that, Global events plays vital role
within nation as this has global reach and also involves many resource for
accomplishing a common objectives of collective efforts. Also, there many forms of
event which has larger impacts on performance of event industry. Additionally, this
may be also monitored that these events has their own practices which aids
community and other stakeholders to maintain its activities and obtain profitability
with it.

References
 Okike, O., 2020. What determines the observational magnitudes of Forbush events
on Earth: A critique of the traditional manual method. Monthly Notices of the Royal
Astronomical Society, 491(3), pp.3793-3804.
 Tan, G. and et. al., 2020. Projections of future meteorological drought events under
representative concentration pathways (RCPs) of CMIP5 over Kenya, East
Africa. Atmospheric Research, 246, p.105112.

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