Report: Macro Environment Factors Impacting the Global Events Industry

This report provides an overview of the global events industry, focusing on the impact of macro-environmental factors. It explores how political, economic, socio-cultural, and technological factors influence event planning and execution. The report includes an analysis of the Olympic Games using a ...Read More

GLOBAL EVENTS

TABLE OF CONTENT
 Introduction
 Impact of macro environment factors on the global event industry.
 Conclusion
 References

INTRODUCTION
 This report is about defining Global Events which means the events
which happened in whole world not in any country specific and to
know how much global events are diversified and what are the
factors which are influencing development of it, and which elements
are responsible for the growth and development of global events.

Impacts the macro environment has on the
global events' industry and their influence on
decision-making and organizational behavior
 Political factors – Political factors affects global events as each country
have different political condition some are in support of liberalizations and
globalization and some are not. Global Event organizer mainly organized
event in those countries whose government give them full support. For
example- when Olympics were held the event organizer wants full support
of host countries democracy as to make event successful.
 This factor also influence decision making and affects organization
behavior because as political factor can't be determine as it is not in hand
of individual so it influences individual decision making.

cont.
 Economical factor – Economic factor can influence event industry by both
aspects either in positive way or in negative if economic condition of a
country is good and if their majority of people are rich are having good
per capita income than will be a positive effect to event industry but if the
economic condition of country is weak than it will affect negatively to
event planners. Economic factors include inflation and deflation and many
other economic aspects. In Negative ways, Economic condition of any
country directly affect organization behavior as it effect organization as
whole due to increase rate of growth, inflation as well as corruption.

Cont.
 Socio-cultural factors – Socio-cultural factors creates great impact on event
industry as socio means society's culture and it influences event industry as
they are the one who decide either they have to do event or not for an example
a society is formed by having so many people in it and every person is having
different perspectives and as per their perspective they do things.
 In terms of negative ways, It is their choice either they want to organized any
event by any event planner or not, culture of society also define either they
believe in events or not if they are in support its good for event industry. For
example- Organization behavior mainly depends upon climate of organization if
climate of organization is good then organization will reflect nice behavior.

 Technological factors – Technological factors are those factor which
decide either country specific or an individual specific is capable or not
for doing events which need high technology (George and Ray, 2017).
In terms of positive ways impact on the organization to increase
performance and efficiency.
 For example : Technological factors impacts events like Olympics as it
is a great event in which people participate form different countries
and due to not having good technology in 2016 Rio de Janeiro who was
the host city didn't able to organize such a big event in proper manner.

SWOT ANALYSIS
It examining and assessing the successful planning of Olympic games event that
identify overall strength, weakness, opportunities and threats. By using SWOT
analysis to identify its internal process in proper manner.
Strength:
It is participation of the best sports men in Olympic events in discipline.
It is developing an opportunity for hoist country to show themselves to entire
world.
It provides unknown athletes player with opportunity to show their skill in
global audience.

Cont.
 Weakness:
 The act of terrorism is the biggest weakness of Olympic events where
it required to put safety question of athletes.
 It has increased different type of boycotting because of political
issues.

 Opportunities:
 It increased the higher anti-dropping standards that easily restore
confidence level of fans.
 Enhanced the additional investment in order to generate various
programs and events.

 Threat:
 The biggest threat in Olympic is increased potential conflict between
national, local and regional policies.
 It has increase uncertainty over future arrangement for regeneration
programs.

Essential criteria for successful
planning of specific events.
 Plan and Market: It includes determining the priorities of the event, proper
selection of the venue, budget and the cost that is reasonable for the clients and
marketing and the promotional activities
 Manage: Includes proper transport facilities, better and the qualitative sound
system, finalize program and preparation of the entire program and the timing of
the execution
 Execute: Proper management of the volunteers, rooms with better services better
flow management of each and every event and progress discussion with the teams
and the clients
 Evaluate: Proper clean-up of the venue after the completion of the event, bill
clearance, send the appreciation letters to the team members as well as the clients
and feedback from the clients about the services

CONCLUSION
 From the above study it is concluded that this is the diversity of event
sector, and who is able to handle different events in well managed
manner than it will make new entrepreneur a successful person or a
group.
 Further study also concluded about the Having system in place to
and stay remain with the margin errors. For this top data store
company to hold the event to support in the marketing.

RECOMMENDATION
 It has been recommended to analyze the overall macro and micro
environment with help of pestle analysis because it easily identifying
its culture and environment of organization. Afterwards, it
recommended take into consideration the impacts of both the
internal and the external environments.

REFERENCES
 Horne, J., 2017. Sports mega-events. Sport, Media and Mega-Events,
p.19.
 Hudson, S. and Hudson, L., 2017. Marketing for tourism, hospitality &
events: a global & digital approach. Sage.
 Hudson, S. and Hudson, L., 2017. Marketing for tourism, hospitality &
events: a global & digital approach. Sage.