Identify three negative impacts of pandemic in the production of events and explain each challenge.

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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1. Identify three negative impacts of pandemic in the production of events and explain each challenge.

2. How do you think events management can recover from covid-19 crisis considering the theories we apply in project management?

Question 3
30 pts
Part III Project management
Event management is defined as a well-planned and organized occasion with the view of meeting or achieving specific objectives for the benefit of person, group of people or an
organization. The professionals in this business are known as Event planners. An event can be a Celebration (festivals, weddings, birthdays, and anniversaries), Education (conferences,
graduations), Promotions (product launches, fashion shows, and conventions) or Commemorations (memorials, civic events). COVID-19 has irrupted the global markets and various
industries drastically, though innovative minds and leaders of respective fields are struggling and bringing new ways to survive in this condition. But, still the Tourism and hospitality industries
are still suffering the most. The threat of disease has homed in the minds of the people and the policies of travel, entertain and organize events by certain countries are leading a major setback and
an edge to recession for such and interlinked industries. In the recent studies around the globe, it has reported that maximum loss of about more than $666 million till April is noted in event
industry, due to cancellation of events worldwide and have 85.9 million jobs at stake. The businesses are suffering for huge capital shortage to sustain in long run through the use of technology
and measures like live chat, webinars, online discussion shows, podcasts etc. are being used by companies to continue their services but they cannot replace the revenue from big fat events or
events at large scale in terms of money and people inducement. The daily wage workers associated with the industry, the small and medium event companies who do not have the platform or
the target customers to provide such services are suffering more harshness of this pandemic
1. Identify three negative impacts of pandemic in the production of events and explain each challenges.
2. What do you think are the challenges on turning projects into virtual? Cite three challenges.
3. How do you think events management can recover from the COVID19 crisis considering the theories we apply in project management?
Transcribed Image Text:Question 3 30 pts Part III Project management Event management is defined as a well-planned and organized occasion with the view of meeting or achieving specific objectives for the benefit of person, group of people or an organization. The professionals in this business are known as Event planners. An event can be a Celebration (festivals, weddings, birthdays, and anniversaries), Education (conferences, graduations), Promotions (product launches, fashion shows, and conventions) or Commemorations (memorials, civic events). COVID-19 has irrupted the global markets and various industries drastically, though innovative minds and leaders of respective fields are struggling and bringing new ways to survive in this condition. But, still the Tourism and hospitality industries are still suffering the most. The threat of disease has homed in the minds of the people and the policies of travel, entertain and organize events by certain countries are leading a major setback and an edge to recession for such and interlinked industries. In the recent studies around the globe, it has reported that maximum loss of about more than $666 million till April is noted in event industry, due to cancellation of events worldwide and have 85.9 million jobs at stake. The businesses are suffering for huge capital shortage to sustain in long run through the use of technology and measures like live chat, webinars, online discussion shows, podcasts etc. are being used by companies to continue their services but they cannot replace the revenue from big fat events or events at large scale in terms of money and people inducement. The daily wage workers associated with the industry, the small and medium event companies who do not have the platform or the target customers to provide such services are suffering more harshness of this pandemic 1. Identify three negative impacts of pandemic in the production of events and explain each challenges. 2. What do you think are the challenges on turning projects into virtual? Cite three challenges. 3. How do you think events management can recover from the COVID19 crisis considering the theories we apply in project management?
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