IMI Company's Strategic Management and Knowledge Management Techniques

This report discusses IMI Company's objectives, managing knowledge, and niche market strategy. It highlights the benefits of managing knowledge and how it impacts the competitiveness of the institution. It also evaluates the implemented activity of IMI to expand the business in the niche market and analyses the strategies at IMI.

Strategic Management

INTRODUCTION
In global market its not easy to have the competitive advantage. It takes huge amount to invest in
expansion of business in international market. It is role or making strategy in business to attain a
goal in a systematic way and smooth functioning in the market place or with in the business. In
this report considering the company named IMI ( Imperial metal industry) based on providing
solutions to the engineering companies. It is a global unit that understands that how to use its
system, technology and knowledge to balance its presence and achieve a competitive
advantage (Sánchez-Herrera, and Donate, 2019). The company is well recognise in worldwide
for their creativity and expertise and global service. It provides services in global countries
almost more than 50 nations. This report will explains the objective of the company and the
managing knowledge and skills and how its impacts its competitiveness in enhancing. Moreover
it will explain the implementation of IMI technique to reach the niche market and expand the
business.
MAIN BODY
What is the objective and purpose of IMI company.
IMI is the global engineering company which includes the various specialities. It is specialise
in providing service to the top brands like coco cola, general motors and Mc Donald and etc. It
operates in B2B and services to companies. This includes a chevron, shell, Volvo, general
motors and many more. These include the nuclear oil, and gases for organisation. It provides
specialisation in equipments and building materials. The main objective of the company is to
motivate the employees so that they can increase the efficiency of the workers in a positive way.
More aims of the company are describe below (.Turnbull, 2020).
 The main aim of the company to increase the brand value with the effective productivity
in the business. The company aims to have the positive attitudes of the workers.
 Common goal of the brands is to expand the business in global level with enhancing the
brand value in the market.
 The main motive of the company to increase the creativity of the workers.
 IMI focus on selecting the talented worker and also provide various grooming programs
in command to accomplish this objectives. IMI called this strategy as engineering
advantage.
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 To provide the market with customised products and services, it have to understand the
needs of its customers. The providing of desired services creates a loyal bond of the
company with its clients which gives it a competitive advantage.
 The company concentrate on reducing the overhead cost so that they can save their
waste of money (Quenum, and et., al., 2021).
 The company's another objective is to provide different services which are not provided
by its competitors and have the ability to fulfil customer's long term needs.
 Institution requires to focus on the operations and adapting a technology quickly so that
they can save the time of the employees and the can produce the goods more smartly.
Thus, these are the aims and objectives of the company. They wish to grow the business in
varied way and desires to expand the company in global areas.
What is managing knowledge ?
It is the process of collecting, storing and effectively managing the knowledge and experience
of workers to grow the employees learnings. It is the major aim to develop the productivity,
efficiency and their ability with in the firm. The best alternative to have the objectives and
goals in a effective and successful way (Obeidat, and et., al., 2017). This includes a various
ways that are managing the workers, operations in a effective way. In assuring that all the
workers have the assess to the total expertise held within the company. Organisation builds a
smarter manpower that make the work more efficient and effective in the company. It improves
the capacity of the employees by human action in a various ways. It maximise the
competitiveness of the institution as the employees get encouraged and they work more
fruitfully in a effective manner. These technique assist in attaining the goal in proper way it
gives long term sustainability of the company in a positive attributes (Leischnig, and et., al.,
2017). The company takes a competitive advantage in varied ways which are listed below.
 Increases the long term sustainability - The technique of managing knowledge give
the edge to increase the long run of the business in the market. This gives the advantage
directly to the institution a it has the ability of making the operations and productivity
more effective and fruitful. This assist the organisation in having the fun of profitability
and attainability in progressive way ( Kong, and et., al., 2020).
 Reduction of the overhead cost - The technique of controlling the education by given
the session of technology and the adaptability of rapidly changing technology in a
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increasing order and improving the ability of them that gives creativity and reduction in
overhead values that are useless expenses for the company. The company IMI have
this benefit in a productive way that could be beneficial for them to save the waste of
useless value.
 Concentrate on increasing business- the business majorly concentrate on increasing
the institution by providing the effective product and services. The business majorly
gives the quality goods and their services so they can maintain the loyal consumer base
in the market and can cover the mindset of the expected users in the effectual way.This
kind of consumers gives the business to the concern and they believe on their
services(,Webb, 2017).
 Increase the innovation and creativity - By evolving the knowledge of the members
and team gives the creativity and innovated in the sales process or in the production
process. These training session to the existing workforce or to the new hired employees
can enhance the creativity in the operations with in the workforce. It effects all the areas
of the company (Hsieh,Ma, and Novoselov, 2019).
Thus the above discussed points highlights the focused area of the business in a proper way or it
gives a direction to the business to make more effective and competitive in the marketplace. The
company believes the this technique to improve the productivity with in the company in a
fruitful methods. It also assist the business in developing the institute in internationally level it
gives the successive growth and profitability in the concern. The IMI company constantly
works on the improvement of the concern in order to be in the sight of the target customers and
to rise the brand value in the existing marketplace and in varied market segments. They are
required to manage the workers so that they can feel familiar in the organisation. They regular
works on employee's motivation which make their employee feel valued and this motivates them
to deal their customers with utter responsibility and put their complete capabilities and skills in
maintenance and building of new and innovative services which can provide the market with
attractive commodities and fill their needs (Hansen, Mork, and Welo, 2018).
Evaluate the implemented activity of IMI to expand the business in niche market by highlighting
the external and competitive benefits, and analyse the strategies at IMI.
IMI's niche market strategy is helpless on three main key feature which regard engineering skills
in fluid technology and innovation, its market leading position in the chosen niche markets and
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its exposure to markets which are benefited from long term functional growth direction such as
social process and condition change. In their niche market they provide customized ware to their
users in command to create competitor reward in the industry. In status of market strategy of
IMI, they have to create business competency which demand gifted and highly adjusted client
worker so that they can supply best services to their customers. The asthenic point of their
market strategy is that they have to evaluate the market into deeper manner so that their products
can retain in the market for longer period of time. The market strategy have to be implemented
by considering all factors of external environment because UK is country where BREXIT
situation has made the market condition unfavourable. As economic condition is good but there
are other factors like inflation and other criteria affect the market into negative spectrum due to
which it has affected sales part (Cheng, 2018) of an organisation. Due to global recession it also
impact the market strategy of an organisation. Because of this situation the legal factor also get
impressed due to which business market strategies have to face objection in status of erect out it
into competitive style.
It has been recommended that they have to focus on digital marketing in terms of
sustaining into the market for longer period of time. They have to adopt advanced structure in
command to impress buyers on large scale. They have to concentrate on human relationship so
that they can make over better brand image into the marketplace and also demand to take
assistance of various gracious of apps so that they can remain into the market in a very strong
manner. It has also been recommended that they have to choose a particular leadership style so
that their team members work as per within the arrangement. In terms to introduce themselves
in new market to select the specific place so that they can catch the market into the proper way
and in appropriate way so that business can have the long term run in the market they all exist
and exist in market so that they can have the brand image and have competence benefit in the
business. They have to take risk in terms of introducing something unique into the market so that
customer can bound themselves to buy that particular product (Bogari, 2019).
These three strategies can be implemented by making a proper plan for it and strategy at
organisational level so that they can attract large amount of investment and customers as well.
Digital strategy can be implemented through introducing a particular app and leadership style
can be implemented through understanding the nature and strength point of that particular
leader . For the last strategy they have to analyse and study the market into deeper manner so that
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they can decide a particular market entry strategy for the organisational growth and development.
When proper market entry strategy has been decided then it is easier to enter into new market
and convenient to explore a new market into positive spectrum. So these are the strategies which
can be implemented at organisational level for further expansion and growth of IMI organisation
into positive manner. This kind of implementation is helpful in terms of profits of an
organisation (Yang, and Kim, 2021).
CONCLUSION
From the above report it is concluded that the IMI company operates in providing engineering
solutions and deals in B2B services. There are many kind of engineering solutions and it
mostly operates in offering fluid power, server services, indoor climate and workers
improvement. The company utilize the ways that are beneficial for the creativity of the
employees in order to improve the efficiency of them so that the productivity can increase. it
increases the creativity of the workers that directly related to the organisation's benefits as the
company services and product get to know by the public as much it will get the brand value in
the target market. The company constant adapts the changing technology so that they can help
the employees in making their work easy and creative. They uses the different activity in order
to motivate them in a positive way. The management wishes to have stability of the employees in
the workplace.
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REFERENCES
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