IMI's Strategy of Engineering Advantage: Analysis of Managing Skills and Knowledge for Competitive Advantage

Case Study-
IMI

Table of Contents
INTRODUCTION ..........................................................................................................................2
MAIN BODY...................................................................................................................................2
Purpose of IMI business strategy and critically make the analysis of how managing skills and
knowledge can contribute to its competitive advantage.............................................................2
Evaluate the implementation of IMI niche market strategy and make recommendations over
three strategic choices with which IMI can differentiate its business in the global markets......4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7
Books and Journals.....................................................................................................................7
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INTRODUCTION
Strategic management is related with the identification and describing the strategies
which will be helpful to the organisation to achieve good performance and attain competitive
advantage in the market. Any of the company will be attaining competitive advantage because
they are highly profitable then the other similar type of companies which are existing in the
market. Strategic management will cover all the decisions which managers have to take in order
to improve the company performance or to make achievement of the gaols(Okumus and et. al.,
2019). Strategic management is related with making planning of the predictable and unforeseen
challenges which the company might have to face because of the dynamic business environment.
There is always change in the business environment because of which it becomes very important
that the management of a company is making some or the other modifications in development of
their business strategy. Developing the strategies for organisation requires key skills which will
be helpful to the organisation to develop their competitive position in the market. IMI is a global
engineering group which provides different engineering specialities which sells engineering
solutions in over 50 countries in the way to match customer needs. This report will cover
purpose of IMI business strategy and making analysis on how managing knowledge and skills
can contribute its competitive advantage and implementation of IMI nice market strategy with
the recommendation of other strategic choices.
MAIN BODY
Purpose of IMI business strategy and critically make the analysis of how managing skills and
knowledge can contribute to its competitive advantage
The main objective because of which IMI makes their business strategy is that they want
to achieve market leadership in the global niche market which it serves. The niche market is a
small segment of market which often provides the consumers a highly specialised products in
which the competitors which are supplying the products are also few. IMI main purpose of
developing their business strategy is that they want to increase their focus towards their niche
markets globally(Köseoğlu and Parnell, 2020). The other purpose of developing their business
strategy is because they want to make higher investment in new products and have to maintain
the high operating margins and want to make the reduction in the manufacturing cost in their
supply and distribution chain. The management of IMI knows that the objective of a company
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