CHALLENGES ASSOCIATED WITH INITIATING BUSINESS IN THE FIELD OF EVENT MANAGEMENT

Abstract

Purpose The purpose of this paper is to look into the causes of problems faced by the local event management industry. For this various related researchers have been studies and applied on the local environment to assess the possible negative impact which can cause and causing the maximum hurdle for the success of event management industry. Relevant recommendation will be given for the event management personal and for the officials of policy makers. Methodology & Design The data has been collected from different head of event management firm / professional in Karachi. The survey was done from the questionnaire that was made online. The data was then analyzed through correlation to obtain results and test the hypotheses. Findings The overall conclusion of the data analysis leads to result that economic situation of country and law & order situation of Pakistan are not affecting the event management industry. The main affecters are high capital cost, high factor cost and increase competition Limitations Since the research is confined to event management industry only so the head of event management firm / professional would be monitored, examined and analyzed. This research is also limited to the Pakistani context only as it only covers the head of event management firm / professional situated in Karachi Recommendations Recommendations are usually pre-organizing event and on-time management strategies. For precautionary measures it should be seen when to conduct the event and assessed fully when it would turn out the successful project according to particular days and weeks and the current city situation although event itself should be so attractive that the organizers find public beyond their expectations no matter what the city situation is. It is recommended to conduct the event and invest money on days which gather no tectonic terrorist activity risks or protests and current affairs should be indulged positively to make the event successful.