In a way profitability and scalability are both sides of the same coin. Profitability is the cornerstone of any business that enables support and sustenance for daily operating budgets; scalability is essential when a small business of BAM Creative Associates wants to become a large business. Differences between products or services of a firm and those of its competitors give the firm a differential advantage.
Consequently, we lose our operations excellence and gross margin, causing business loss and failure if we fail to manage the gross margin or if we fail to recover our inflow of money and income. In order for an event planning hong kong company to sustain its competitive advantage, one must create clear vision, goals, strategies, and operations. This will help the company gain an edge over competitors and increase value for its customers.
These factors support large margins, large market shares, and patent protection. Differentiating features may include patent-protected products or processes, superior personalities, or a distinctive brand identity. In the event business, Red ocean refers to a market with defined competitors as well as a way of running a business. The metaphor is akin to an ocean where sharks are in competition for the same prey.
Blue oceans, however, are like calm, smooth, like-minded people that are in every corner, with lots of food and nominal competition. The whole idea behind blue oceans is to have high value at low prices. The most difficult aspect of producing events is managing the doses of emotion for someone less experienced. This can be difficult during the hectic pace of the event and afterwards.