Global Events: Analyzing the Impact of Macro Environmental Factors

This report provides an analysis of the impact of macro environmental factors on the global events industry. It explores political, economic, social, technological, environmental, and legal factors, examining their positive and negative impacts. The report discusses how these factors can change organizational behavior, the importance of integrating them into strategic planning, and how they influence event design and orientation. Recommendations include the inculcation of technology, interaction with the community, and conducting SWOT analysis to address strengths, weaknesses, opportunities, and threats. The report also highlights the influence of internal and external factors on event planning, emphasizing the role of government support and the need to address organizational weaknesses. The conclusion emphasizes the event industry's role in increasing sales and revenues for nations, providing a comprehensive overview of the factors influencing the development of event industries in local and global markets.

Global Events
(Pass criteria)

PART B
Scenario and Activity

Positive and negative impacts of
macro environmental factors
• Political factors: The positive impact of political factors on event industry is
that there will be a support for the organisation in order to deal with the
finances. The negative impact is that when the government changes there
will probably be a different one with different regulations that will again be
an impact.
• Economic factors: economic factors are regarded to be one of the criteria
that are dealt by the economic standards of the organisation (Rowe, 2017).
The positive impact of economic factor is that they will help the entire event
industry in order to deal with the change management criteria. The change
in economic policies will again impact the organisation which has turned out
to be a negative criteria.

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• Social factors: social factors are regarded to be one of
the prominent criteria where the societal beliefs as well as
the attitudes will fall in regard to its. One of the positive
impact of social factors is that few people might be
interested in dealing with the events that are being taken
care about by the organisation and can accept over its
entity. The negativity will pertain with respect to certain
beliefs as well as ethical standards when the organisation
do not follow the basic structure of the community.

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• Technological factors: technology is said to be at the perk of being
the best. This technological factors are one of the prominent criteria
that will help the organisation to move ahead in attaining the
speculations by providing a proper explanation. The positive impact
of technology is that things will be made prominent and there can be
a change management in the organisation. The negative impact of
the technological factors is that few people might not understand the
base of every technology and that might certainly impact the entire
organisational performance. There are also cyber crimes and threats
that can steal the information from organisation.

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• Environmental factors: environmental factors are the important
criteria for every organisation in order to move ahead with the
speculations of the laws that are being encroached upon by the
government (Ozili and Arun, 2020). The positive impact of
environmental factors is that there will be a safe environment that
can be maintained and there will not be any organisational
encroachment upon the activities of environment. The negative
impact is that whenever there is any damage that is caused to
environment by exceeding the law that is enforced by the
government then it probably will be a negativity.

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• Legal factors: legal factors are mostly those that are acting as a
shield for the employees and their compensation. Employees as
well as their compensation are regarded to be the relative criteria
that are being dealt by the organisation. These are being tackled by
the macro environmental analysis in a way that would help people
to attend the right set of compensation and finances. The positivity
is that the organisation can work over the right set of compensative
problems that can provide people with the amount that is in due for
them. The negative impact is that whenever it is not maintained on
a subtle basis then that would lead to negativity.

Impact of macro-environmental
factors

Changes behaviour
• Macro environmental factors will change the entire behavioural criteria of
the organisation.
• This can impact the event industry by segmenting it into certain expansion
null and dynamic criteria that would help the business to outlook its own
behaviour.
• That can be changed in the models with respect to hospitality industry like
that of inculcation of new strategies as well as strict laws that will have to
be initiated.
• This is also in terms of training it employees as well as bringing about a
change with respect to its financial management and economic criteria.

Integrating macro
environmental factors
• This is necessary in order to bring about a theoretical orientation
towards the intensive approach towards dealing with the business of
the organisation (Palrão and et.al, 2021).
• When the macro environmental factors are strictly a bringing about a
challenge to the organisation then certainly the company will abide by
the challenges and develop its own strategies.
• They integrate the policies with respect to organisational performance
for example in order to deal with the political standard the entire
criteria of the organisational encroachment with government will
probably change.

Design and orientation
• The organisation will be in charge of bringing about a new
design to orient the event in such a way that would meet
the expectations that are a part of macro environmental
challenges.
• This can also deal with the cross cultural differences that
are a part of organisational entity.
• The work will be enhanced and successful approach
towards integrating the global events can be gratified.

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