P2 This is the complete question 1. Describe the opportunity that you identified. Be sure that your reader understands exactly what that opportunity is.

P2 This is the complete question

1. Describe the opportunity that you identified. Be sure that your reader understands exactly what that opportunity is.

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This is the complete question

1. Describe the opportunity that you identified. Be sure that your reader understands exactly what that opportunity is. Explain how the opportunity is related to the COVID-19 crisis.

2. What makes you believe that there is a need or demand for your idea? The better evidence of the need you present, the stronger your project will be.

3. Describe the organization that would be best positioned to turn the opportunity into reality. You may suggest setting up a new organization, or you may suggest that an existing organization take on this project. Be sure to show why this organization is well suited to work on the idea.

4. Use course materials to recommend 2 or 3 effective management practices to that organization. What would you as a manager do to make the organization effective in realizing this opportunity? Be sure to connect each recommendation to specific course material such as reading, lecture, video, or exercise. This is the most important aspect of this assignment.

5. Describe how you used peer feedback to develop your project. If you did not use peer feedback, explain why you did not find it useful.

This is an adjustment based on feedback

· I did change some stuff in the first, second, and third sections based on feedback. Just to clarify that our business is equipment rentals to support live streaming events

· based on feedback because some people were confused and thought we were essentially Twitch

· We dont want to be twitch, its not just a camera to live stream someone at their desk, its for a events away from home and such

· right, and our equipment makes it easy for novices to make high quality streams

· On my part Nathan added more details what about our target customers, and what kinds of equipment we use, and where customers can use them

This is the complete project


Live Streaming production recording equipment package rentals for events (professional videographers available upon request).

Since the beginning of the pandemic, people all over the world have had to live in a so-called “crisis”, this crisis has created the need for innovation and novel resourcefulness. We can’t see and touch our loved ones physically, and must wear uncomfortable facemasks whenever we go outside or meet someone. People also can’t celebrate the most important events in their life, or continue enjoying their essential activities. Luckily we now live in a technologically modern world where we can see and communicate remotely with each other. We now can study and work without leaving the house, and even have online interviews for new jobs or online appointments with doctors via video calls. In additionally, due to the pandemic crisis, live streaming weddings are now legal in couple states such as New York and California (Kreienberg, 2021)

Therefore, our team thinks that opening a live streaming recording equipment rentals company is a good opportunity for us to help connect people together, and they can share their important moments with everyone wherever they are and whenever they want. In order for many people to view larger events that one would typically attend in person we’re offering high quality video production/recording equipment. Our equipment rental packages may include stream switching equipment, auto-following video drones, and tripods with auto-tracking video mounts to allow users to set up a video experience that allows the people watching the live-stream the best possible experience. We’ll also provide in person video technicians and videographers for an added cost.

Our offerings would accommodate events such as:

· School sporting events

· School ceremonies

· Outdoor and theater performances

· Concerts

· Birthdays

· Bar/Bot Mitzvahs

· Quinceaneras 

· Weddings *

· Etc. 

Our Customized Packages may Include:

· High-quality video equipment (select quantity)

· Content stream switch

· Editing software

· Livestream address and hosting for recorded video (includes a website address where everyone can go and view the event)

· Simple instructions for non-technical users

· Auto-tracking video drones

· Tripods

· Auto Tracking gimals/mounts for recording devices

At the beginning of 2020 we endured global lockdown orders in an attempt to prevent the spread of the COVID-19.  There have always been concerns of the consequences that a lockdown will cause, from the livelihoods, mental health, and even worries of what will happen to the economies in common sectors. This made people to almost reinvent how we could live our daily lives better, and the ideas that arrived are phenomenal.

  Live streaming serves as a way to connect people.  It ultimately gives people the feeling that they are at the events or occasions. PRNewswire estimated that the video streaming market will grow from USD $30.29 Billion in 2016 to USD $70.05 Billion by 2021 (Markets, 2018). The economies of paid virtual events are encouraging as well. A streaming concert might command just a tenth of the ticket price for a seat in the venue, but giving access to a worldwide audience could easily bring in 10 times more profit.  The best example is Dua Lipa’s concert, according to Rolling Stone, it was one of the first live streamed concerts and had record breaking viewers, at 5 million audience members (Millman, 2020).

A lot of the time live streaming can reduce costs tremendously. For all different types of events the audience members are able to receive the same content that they would previously receive if the event was in person.  A business with reduced costs means that they can potentially have increased revenues. Ultimately allowing them to save on time and money, resulting in more time and resources to expand your business and promote your cause. Customers are able to save costs in the sense that they won’t need to pay for transportation, or pay full price for a ticket because the venue won’t have the same costs as they would if there were in person viewers.  With the rise of FOMO (fear of missing out), peoples mental health is decreasing due to the fact that they have no face-to-face interactions nor real-life meetings. Being able to provide a service that will enable customers to not miss out on events, weddings, or sporting events is what our whole goal is. 

Since many schools and smaller venues do not typically possess the equipment and technical expertise to operate it we provide packages with user friendly equipment that can be used by almost anyone. Our auto-following drones and camera gimbals will follow the action on their own which minimizes the need for humans to run the cameras. All the user would have to do is switch between the video feeds being presented. With equipment that makes everything look good and a setup that lets anyone handle a large event we believe this is perfect for times when people can’t attend in person and well into the future.

Our organization will likely be a LLC which consists of an ownership/leadership team that concentrates on overall strategy, a marketing organization that will focus on creating demand and brand awareness, and a technical/operations team that will focus on equipment maintenance, setup, and fulfilling customers’ orders. We would also have a sales team that would take customer requirements and provide recommended packages, package pricing, and booking customers’ rental orders/pickups.

This would be a new organization since there doesn’t seem to be a direct competitor in this space. Our organization would not be supporting the large million dollar events with massive budgets and we would not be handling the lighting, stages, and any other structural elements. Our space is providing small video packages to smaller organizations who want to live stream to smaller audiences.

We decided to set up a new local organization that will do live streaming services for any sort of activity or event. For example: school, sports, and wedding events to name a few. The reason why the local organization would be well suited is because of the opportunities that follow. In the greater Seattle area we have not seen this become something bigger. This would be a gateway for people to host their events if relatives or friends can’t make it.

Our organization would primarily institute management practices through basic HR policies for the more mechanical management aspects. However, for our marketing team which would be instrumental in driving demand for our products, we would expect that management keeps an open mind. Our marketing team would be expected to research customer needs without being judgmental. This practice reflects the creative “absorb” chapter from “Your Creative Brain” (Carson, 2012). Without being able to listen to what our customers need from us we can’t clearly provide solutions to their problems. Our marketing department should also hold workshops where they can brainstorm new ideas, take some time to evaluate them, and finally select better options. Once again referring to “Your Creative Brain,” the marketing team will need to absorb input from the customers, use their creativity to connect ideas related to the customer’s needs and demographics to generate a number of ideas and understand how those ideas may be transformed into other potential options. In order to capitalize on a multitude of perspectives, the marketing team should be people with marketing experience from different industries. Next, the team needs to be able to evaluate and reason through potential issues that may become barriers to satisfying our customers. 

Our technical or operations team would be responsible for maintaining our equipment and fulfilling customer expectations. Our technical experts will have the autonomy to make improvements in their processes (Pink, 2009) and will be entrusted to use their best judgment to ensure our customers are satisfied. As John Cleese expressed during his Lifetime Achievement speech, the experts in the field should be the ones trusted to know how to do their work (EBUEurovision, 2016). Top-level leaders will be expected to lead by example and maintain the organization’s vision and mission to provide the customers with a way to experience events through telepresence streaming. Leaders should use their abilities to “envision” a world and product that people need during the pandemic. It’s important for leadership to keep the people aligned to the goal of customer satisfaction.

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