IMG Article Example | Topics and Well Written Essays - 500 words - 1

IMG - Article Example Signing deals with various celebrity athletes like Tiger woods among others and significant expansion in terms of the firm’s structure and function explains its economy of scale. It is worth to note that IMG is currently facing challenges of its already large scale of operation in regard to its emerging competitors. The company is evidently out of control as it grapples with management challenges. This can be seen from mass exit of employees, signed athletes and the rising criticism on the issue of conflict of interest. The facts presented in this case study shows that IMG grew exponentially due to its initial competitive advantage but later ran out of managerial techniques as far as sustainable and maintenance of value creation activities are concerned (Hitt,et al. 67-9). The emergence of market dynamics with increasing competing firms that have embraced technology and strategic pricing policy is putting the IMG under significant threat of failure hence the relevance of the company â€Å"out of control†. In the contemporary turbulent market, it is advisable that McCormack or his successors need to boost the size and diversity of IMG’s portfolio of businesses. This is in line with the changing market conditions in which diversification would help it cushion losses from one aspect of their portfolio. For it to manage competitive strength in the market, it only needs to reorganize its management techniques that should be coupled with a shift towards global standard in order to survive among the several new entrants in the industry. One approach of strategic management that would revive IMG is to blend outsourcing of skilled personnel with its own employees. This would provide hybrid technique that would serve to help it deliver quality services to its diverse clients. This implies that IMG would do a better job for its clients if it contracted with