Strategic Management for IMI: Evaluating Business Strategy and Competitive Advantage

This report evaluates the purpose of IMI's business strategy and how managing knowledge and skills contribute to its competitive advantage. It also critically evaluates the implementation of IMI's niche market strategy and recommends three other strategic choices.

Strategic management

Contents
INTRODUCTION...............................................................................................................................3
MAIN BODY.......................................................................................................................................3
Evaluate the purpose of IMI’s business strategy, and critically analyse how managing knowledge
and skills contribute its competitive advantage..................................................................................3
Critically evaluate the implementation of IMI’s niche market strategy and recommend other three
strategic choices.................................................................................................................................4
CONCLUSION....................................................................................................................................7
REFRENCES.......................................................................................................................................8

INTRODUCTION
Strategic management is a process Which is implemented by organizations to monitor
and analyse all the necessities in order to meet their goals and objectives will stop in order to
change the business environment companies are required to regularly access their strategies
for accomplishing success (Anatolievna and Anatolievna, 2018). The following report discuss
about business strategies implemented by IMI. IMI is a global engineering group which has
implemented various engineering specialties. It is popular among people as it offers
innovative Global Services along with providing various engineering solutions in almost 50
countries in order to meet demands of customers. The following report discuss how the
selected company manage knowledge and skills which has been contributed to accomplish
competitive advantage over others. The following report also evaluate the execution of need
market strategies which the selective company has implemented and three more strategies
have been recommended below in the report.
MAIN BODY
Evaluate the purpose of IMI’s business strategy, and critically analyse how managing
knowledge and skills contribute its competitive advantage.
Segmentation and positioning are essential components of a specialized marketing
strategy. Profitability, adherence to the marketing idea, relationship marketing tactics, and
developing a corporate in IMI based on long-term mutual benefit with its clients is the
primary goals of niche marketing in cocoa cola.
Marketing is critical because it enables the selected organisation to establish long-term and
consistent relationships with their target audiences. It is a long-term approach that helps firms
thrive, not a one-time remedy. It involves: Any successful business relies on customer
interaction.
A business's long-term plans to attain its goals and objectives are known as strategies.
IMI aspires to be the market leader in the specialty areas it serves across the world. A niche
market is a section of a market that is very small and frequently highly specialised, with few
competing enterprises serving it in cocoa cola. A selected organisation can pick from a
variety of tactics to achieve its objectives. These might involve creating new items,
expanding via acquisitions, or cutting expenses (Teece, 2017). IMI's strategy focuses on

growing its company in specialised areas, speeding growth by investing in new products and
expanding markets, and maintaining strong operating margins while lowering production and
supply chain costs in the selected organisation.
Few rivals can match IMI's level of expertise and customised fluid engineering
solutions, allowing it to charge greater margins for its high-quality goods and services in its
targeted niche markets. IMI's approach combines three main elements in context to coca cola:
engineering expertise in fluid technology and innovation, market-leading positions in
specialist industries, and exposure to areas that are benefiting from long-term structural
development trends like climate change and urbanisation.
IMI calls it strategic convergence in relation to coca cola which means is the act of
collaborating to produce a cohesive whole with a specific goal in mind. As a result, a
converged firm is highly efficient and competitively oriented, as it pursues its strategic goals
with zeal to achieve its vision and mission.
IMI intends to establish unambiguous market leadership, improved profit margins,
more product differentiation, as well as chances to match global trends and develop in this
field. IMI has a defined emphasis thanks to strategic convergence which is used for coca cola.
IMI's experience and talents enable it to create goods and services that suit long-term client
demands and help differentiate products. This entails providing items that do tasks that
competitors' products do not. IMI is able to garner larger profit margins as a result of this, as
well as achieve unambiguous market leadership and create barriers to entry for rivals in the
selected organisation. IMI's employees play a critical role in executing the vision, and their
abilities are a fundamental competency of coca cola (Maas and Boons, 2017). The
importance of engineering and technical expertise cannot be overstated. IMI, on the other
hand, is looking for persons with a business mind set. This approach aids the organisation in
seeking out new and innovative methods to provide value to both consumers and the
corporation of selected organisation.
Critically evaluate the implementation of IMI’s niche market strategy and recommend other
three strategic choices
To accomplish competitive advantage the respective company has implemented
various strategies which includes setting strategy and strategic convergence. According to
this setting strategy of the respective company the goal is to accomplish market leadership in
international market in which it operates its business. The company has focused on enhancing

its business in its chosen niche markets through investing in new products and rising market,
maintaining high operating margin and reducing manufacturing cost along with cost of
supply chain. The strategy of respective company brings three factors which includes its
engineering skills in fluid technology and innovation, it’s market leading position in the
market and its exposure to market in order to achieve long term structural growth such as
urbanization and climate change (Holloway, 2018). The company calls the point of these
three factors named sweet pot. On the other hand, these three areas when come together is
called as strategic convergence. Strategy convergence helps the company in providing a clear
aim. According to this strategy the respective company is required to provide unique products
which is different from its competitors that could attract large customer base and provide high
profit margins with market leadership and create barriers for new entrants in the market. This
strategy of IMI is described as engineering advantage. According to the needs of customers
the respective company provide customize goods and services which could result in customer
loyalty along with enhancing competitive advantage for it in the market. The company also
requires to evaluate external environmental factors which could impact its business
operations. These environmental factors include social, political, environmental,
technological and legal. These external factors might impact on business strategies of the
company. By continuous monitoring of these external environment will provide the company
an opportunity to Minimise threats it could face in the market. the respective company has
examined four clear global trends within its external environment. Climate change is among
global trend for which the selected company has been providing cleaner energy along with
assisting companies to minimize energy consumption (Akyuz and Gursoy, 2020). Resource
scarcity is also a global trend in which in which companies are required to manage resources
such as energy and water in more efficient way to ensure sustainability. The selected
organisation has developed a wide range of engineering solutions in order to manage energy
utilisation and water wastage. Urbanization is also among for global trends which is taking
place rapidly around the world specially in emerging markets such as China. This requires
huge investment in mass transit infrastructure in order to ensure rapid expansion of urban
population that have reliable transportation options which could provide them easy traveling
around cities. The selected company has technical expertise which supports various kinds of
medical equipment. It has also been providing specialised good to support this.
The selected firm is also behaving responsibly towards its various stakeholders which
involves its workforce, customer base and shareholders. The value of innovation, Excellence

and integrity helps in providing guidance to employees of the company so that they could
behave appropriately. This responsible behaviour of company is defined as IMI way. This is
described as an integrated method that could enabled the company to accomplish
sustainability in its management of safety and health. The selected firm promotes strong
safety and healthier culture. This this strategy helps the company in minimising risk two
people and environment (Naamati Schneider, 2020). The company also has an internal
commitment in order to become more energy efficient and create goods and procedure. The
selected firm in order to make sure that products are delivered sustainability it sets out
standard supply policies as a part of its Supply Chain Policy. This assists the respective firm
in development of sustainability in the market along with creating recognise image among its
potential customers.
The selected company could implement various strategies that could help it in
achieving competitive advantage in the market. Differentiation strategies provide an
opportunity to the company to give value to customers and boost their overall probability off
its business. All the effective strategies are equally effective and provide value to the business
in order to stand out from the computer kids in the market (Johnsen, 2019). The three
recommended strategies which would go be executed by selected company that could provide
it along time market leadership on global level
Product differentiation
this is a strategy which is implemented by various companies to differentiating their
products from their rivals. This strategy includes really physical and differences which could
be acquired by companies through advertising. Product differentiation could be described as
changes in feature, efficiency, performance and certain specification in the product that could
meet customer’s demand (Barney and Hesterly, 2019). Product differentiation helps the
companies in providing innovative and unique products to the customers that could satisfy
their needs. It will also help the company in accomplishing its long-time sustainability in the
global market. Through implementing this strategy company could also differentiate its brand
from others that could help it in making its image or international level.
Relationship differentiation
This differentiation strategy is based on personal aspects of company. Workforce odd
team members of a company through maintaining their relationship with customers could
provide the company a reliable and responsive image in the market (Lapsley and Rekers,

2017). The selected company needs to implement this strategy in order to maintain a day-to-
day long-time communication with its potential customers in order to form a link between
them and products. The company needs to execute various technical services or CSR in order
to become trusted brand among customers which could provide effective delivery of products
on time along with providing solution two potential customers. This will help the company in
creating a competitive advantage in the market along with creating a trustworthy image
among its customers. This will provide an opportunity to the selected organization to ensure
its long-term sustainability in the market.
Price differentiation
this is a differentiation strategy which is executed by various organization in order to
compete in the market. Successfully competing on price which the organization implement
requires recognition that their potential customers are ready to pay for their products
(Skjølsvik, Pemer and Løwendahl, 2017). The selected company needs to implement this
strategy which could allow it in segmenting and differentiation its customer base in order to
Provide quality products according to their needs. Price differentiation will help the company
in recognising its value of goods. The company needs to implement this strategy in order to
create competitive advantage in the market and create positive image among customers.
CONCLUSION
From the above discussion it has been evaluated that strategic management assist the
companies in evaluating and organising their strategies in such a way that they could
accomplish success. It has also been examined that companies are required to execute such
strategies which could provide them competitive advantage over others. It has also been
evaluated that companies are required to analyse their skills and knowledge that could assist
them in contributing in providing the competitive advantage in the global Market. It has been
concluded that organisations are required to implement strategies and examine their external
environmental factors which could impact their business operations. It has been
recommended to companies that they must implement differentiation strategies so that they
could create distinguished image among customers and in market.

REFRENCES
Books and Journals
Akyuz, G.A. and Gursoy, G., 2020. Strategic management perspectives on supply
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Anatolievna, A.L. and Anatolievna, S.I., 2018. Strategic management of competitive
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