Analysis of Global Events: Macro Environment and Industry Factors

This report provides an analysis of the impact of global events on the macro environment, exploring political, economic, social, and technological factors. It delves into the influence of these factors on the global event industry, offering recommendations for improvements. The report includes a SWOT analysis tool to evaluate strengths, weaknesses, opportunities, and threats related to events, along with criteria for successful event planning. The discussion covers the PEST and SWOT analyses and their impact on organizational behavior and decision-making. The report concludes by emphasizing the importance of understanding both macro and micro environmental factors in event management, drawing from the provided references to support the analysis. This report is a comprehensive study of the factors influencing the success and management of global events.

Global Events

Table of Content
 Introduction
 Positive and negative impact of global events on macro environment
 Macro environmental factors and their influence on global event industry
 Recommendations for improvements
 SWOT analysis tool
 Criteria for successful planning event
 Conclusion
 References

Positive or Negative impact of global
event on macro environment
Political: There are various factors
which impact event organization such
as taxation, government regulation,
policies and political stability. It
further affect the decision making
process as well as organizational
behaviour which impact production or
profitability.

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Economic: This factor focus of the profitability of the business because
it further help economy to growth. It includes industry structure,
unemployment rate, availability of resources etc. It influence the
behaviour of organization as well as decision making process of
manager of the company.

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Social: This factor include the customer behaviour, attitude, value
or culture which impact the sale of products. Basically organization
need to identify buying behaviour of their customers and then
formulate strategy accordingly. It fuhrer helps the event
organization to formulate strategies at the time of decision making
process.

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Technology: This factor include change in the technology for the organization
which helps in increasing productivity as well as profitability. Use of latest
technology in the events will helps in making event successful and provide future
growth as well. So company have to develop strategies accordingly because it
will influence the decision making process or organizational behaviour.

Macro Environment Factors and their
influence on global event industry
There are various factors which affect global
event industry in positive as well as
negative manners which mention below:
Demographic and psycho graphic change:
It is focused on external factors such as
age, gender, location etc. Psycho graphic
information focuses on beliefs, priorities,
hobbies and habits of individual.

Recommendation for
improvement
• Event management company have to pay more attention to
planning which include all the activities that required to make
this event successful and promote as well.
• Before starting any event they have to develop event budget
which is very important to build. Further actions or activities
will be formulated as per the prescribed budget.

SWOT Analysis TOOL for Specific
Event
This analysis help the organization to
evaluate their internal strength,
weakness, opportunities or threats. It
helps in completive analysis where
business have to analyse some factors
which is beneficial at the time of
decision making process.

Strength
• All the participates are in discipline which is very important for
any event. In 2012 Olympic all the participants are in discipline.
• Media coverage for the event is unmatched which provide huge
fame in the Olympic event.
• It is the big opportunity for the host country to show their
capability to the world.
• Provide fame to the unknown athletes and other opportunities.

Weakness
• There are various incidents happen that put a question mark
on the ability of ExCel Exhibition Centre.
• Act of terrorism (Munich) also one of the weakness because
it is related to the safety of athletes which is very important.
• Some of the countries boycotting from this event due to
political issues for example: 1980 Olympic.

Opportunities
• Further opportunities like introduce Cricket in the Olympic
because it is most loveable sport and have high viewer in
India.
• It helps in building confidants in the fans with the help of this
event.

Threats
• Biggest threats from terrorist activities which likely to increase
in the future because huge audience available in the stadium.
• If sports become professional in nature then it is not beneficial
for the people who already star in their field.
Above mention PEST analysis helps the organization to identify
those factors which required to improve. Further each factor have
positive as well as negative impact which impact organizational
behaviour as well as decision making process.

Criteria for successful planning of events
It has been critically evaluated that, every organization need to
adopt some skilled and capabilities which required for the successful
planning of event. Such as event planner have to be organized and
have relevant organizational skills which helps in maintaining all the
activities. It further beneficial because functions will be perform
efficiently and make them capable to achieve their goals &
objectives.

Conclusion
From the above discussion it has been concluded that macro as well
as micro environmental factors impact the events. With the help of
PEST or SWOT analyses, individual or whole organization able to
understand the impact which further influence decision,
organizational behaviour etc.

REFERENCES
Mair, J., 2019. The events industry: the employment context.
People and work in events and conventions: a research
perspective, pp.3-16.
Raj, R., Walters, P. and Rashid, T., 2017. Events management:
principles and practice. Sage.