The Impact of Macro Environmental Factors on Global Events Industry

This report examines the impact of the macro environment on the global events industry, focusing on how political, economic, social, technological, legal, and environmental factors influence event planning and execution. The analysis utilizes the PESTLE framework to assess the positive and negative impacts of each factor, providing examples such as political stability affecting event organization and currency values impacting event costs. A SWOT analysis is also conducted for specific events, identifying strengths, weaknesses, opportunities, and threats. The report offers recommendations for successful event planning, emphasizing financial management, experienced event planners, suitable event locations, legal compliance, and environmental safety. The conclusion highlights the significance of external environmental factors and their influence on company performance and decision-making within the global events sector. The report also references relevant academic sources to support the analysis and findings.

INTRODUCTION
Plans and policies of companies can be effected due to change in different
environmental factors. The power point presentation covers about impact of macro
environment on global events industry as well their role in decision making. In order to
assess the different environmental aspects, PESTLE analysis is done. As well as under
power point presentation, swot analysis is also covered in detailed manner for successful
planning.

Positive and negative impact of
macro environment on global events.
PESTLE analysis- This can be defined as a kind of tool that is being used by companies in
order to analyse various aspects of external environment. In the context of above Excel
Exhibition centre, the impact of these factors is mentioned below :
Political factor –
Positive- The positive impact of this factor is that political relationship between two nations
are favourable then it can be easy for event organisations to perform events across the
border. For example in a nation political condition is stable then it will be easier to conduct
events successfully.
Negative- The negative effect of this factor is that in the case of political instability, there
can be lot of issues for event companies to perform events successfully. For example if
political relation are poor between two nation then it will be difficult to organise events in
both nations.

CONTINUE...
Economical factor-
Positive- This factor can be positive for above Excel Exhibition centre company if
interest rate is lower because they can acquire higher amount of fund from financial
institution in order to expand their business.
Negative- It can be negative too if in UK, inflation rate is higher then this can be
difficult for above company to organise events in other nation as it can be costly for
them. For example in a nation, currency value is higher as compare to other country then
it can be difficult for rest of other global events companies to organise event in that
nation. Such as in USA, it is considered difficult for companies to operate any event due
to higher currency value.

CONTINUE...
Social factor-
Positive- This factor can be beneficial for Excel Exhibition centre if two countries
culture and religions are same because due to this they can easily organise the events in
an effective manner.
Negative- It can impact negatively for above company as there are too many differences
in cultures of two countries because this may lead to higher cost. For example it
becomes difficult for Foreign countries to organise event in Asian countries due to
cultural diversity.
 Technological factor-
Positive- It can be positive for above Excel Exhibition centre company if they introduce
new advanced sound system to visitors. If a company is using advanced technology
based equipments in events then its impact will be positive on visitors.

CONTINUE
Negative- This can impact negatively to Excel Exhibition centre company, because
organising global events in different nations can be highly expensive if they implement
new techniques. Like in the absence of new technology in sound system and display there
will be less number of visitors who will attract.
 Legal factor-
Positive- If the Excel Exhibition centre company follow all laws such as regarding to
sound play capacity then they can get support from the government. As well as it will be
easier for them to sustain in competitive environment without any issue.
Negative- In the case when above company avoids the implementation of legal laws and
legislation then government may interfere in their operations and can bane their business.
For example if they operate the events after limited time then government may take action.

CONTINUE
 Environmental factor-
Positive- This can be positive if Excel Exhibition centre company, organise their events
at those locations which have availability of all kind of resources. If they will manage all
activities and operations as accordance of safety of environment then government of
particular nation will support them.
Negative- It can be negative too for above company if environmental conditions are not
in the favour for organising events. Such as lack of basic resources like transportation
system, raw material etc. For example if they will organise their event in a far location
from city then it can be difficult for them to attract more visitors.

Impact of macro environmental
factor in the aspect of decision-
making
The macro environmental factors are too crucial for companies in order to take corrective
actions and management of organisational behaviour. It is so because each factor has
some impact on companies' performance. Such as in the aspect of above Excel Exhibition
centre company, the all factors of PESTLE model are impacting their performance.
Mainly, the political and legal factors can impact to their decision-making. It is so
because if political parties change their rules and regulations then it may lead to
companies to take decision accordingly. Same as the legislations and laws are updated by
government of UK then above company will be liable to follow and reverse their polices
that may lead to impact on their decision-making. For example if government of UK, will
change in their legislation regards to organising any event then it can impact to event
organising companies decisions.

SWOT ANALYSIS FOR A
SPECIFIC EVENT
SWOT analysis-
Strength- In this positive elements are focused which a company has.
Weakness- Under this negative elements are analysed that are resulting as loss for
companies.
Opportunity- Under this external factors are included that can be beneficial for entities.
Threats- Under this external factors are included that may cause of loss for entities

RECOMMENDED SOLUTION FOR
SPECIFIC EVENT
In order to manage the performance of event, the above Excel Exhibition centre should
focus on those aspects and elements which are resulting as lower performance of event.
Such as they are needed to focus on increasing their financial sources as well as to hire
experienced event planners who can make effective policies. In addition, they should
try to organise their events in those locations wherein weather condition is favourable
for performing the event. Apart from it, they should make focus on following all kinds
of legislations and policies so that government of United Kingdom can support them in
order to organise events. As well they should keep consideration of safety of
environment in an effective manner.

CRITERIA FOR SUCCESSFUL
PLANNING OF EVENTS
 Internal factors
 Safety
 Financial requirement

CONCLUSION
On the basis of above power point presentation, this can be concluded that each factor of
external environment has some significant impact on companies. Under the power point
presentation, PESTLE analysis is concluded in order to assess positive and negative
impact of macro environment on event industry. As well as SWOT analysis is also done
for any specific event and on the basis of it recommendations are given for succession of
events.

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