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Every corporate event has specific objectives. These corporate events are planned to achieve these objectives for the company. There are various corporate events like product or services launch, seminars, exhibitions, stakeholders’ or investors’ meet, award ceremonies etc. Companies prefer to use good audio visual equipments, production services, etc to organize these corporate events.
Buy or rent audio visual equipments- this question is widely considered by the companies. They consider following aspects while deciding about buying or renting audio visual equipments:
- Cost comparison of buying and renting ofaudio visual equipments: Companies do cost comparison between buying audio visual equipments and renting audio visual equipments. While analyzing the cost of buying of audio visual equipments, companies also consider the maintenance costs, frequent wear and tear costs and upgrade cost of these equipments.
- Requirement of skilled professionals: Companies do need skilled professionals to creatively and strategically use these audio visual equipments. Audio Visual Company has teams of skilled professionals for various activities of event organizing. Companies have to consider recruiting skilled professionals for various activities of event management. This is almost like running an Audio Visual Company for many business entities.
- Creativity and innovations: The business of organizing big events has significant creativity and innovations aspects. A set designed once for an event cannot be replicated frequently. So generally a new design has to be proposed for a new corporate event. Companies have to consider nourishing creativity and innovations for their corporate events if they consider of buying audio visual equipments and developing an event management team in-house.
- Return on Investment (RoI): Every company makes investment considering returns on it. They evaluate the returns that they will get on their investment that they will make in buying various audio visual equipments and developing a team of skilled professionals for managing their corporate events. Companies may accept the return in a different format but they will like to get best values for their monies. They can expect a better return only if they have very frequent need of organizing similar corporate events. This rarely happens.
It has been seen that companies buy very few audio visual equipments and develop a small team of skilled professionals to operate these equipments. These equipments are used for regular meetings etc especially if these meetings are happening virtually between various offices.
- Focus on core business activities: Companies also like to evaluate their involvements in non core business activities by buying audio visual equipments and developing team of event management professionals. This also helps them in deciding that whether they will prefer to do it in-house or go for AV Hire for organizing their corporate events. Companies are operating in a very competitive business environment and they always have to strive to stay afloat and stay ahead of the pack by growing.
Companies have to consider these aspects while evaluating the decision of buying or renting audio visual equipments along with its associated activities. The current business environment, financial conditions, future prospect etc are also considered by the companies while taking this decision. Companies know the business of Audio Visual Company and the tasks associated with organizing corporate events and hence they take judicious decision about buying or renting audio visual equipments.
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