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Financial Data of Industry and Competitors Essay Example

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Financial Data of Industry and Competitors

The founder never gave much importance to the competition which can be considered as the most suitable competitive advantage of the firm. According to him, “We really don’t pay too much attention to what our competition is doing. We keep an eye on them, but we don’t flog ourselves when they succeed or appear to be gaining on us. Gauging how you are doing by comparing yourself with the competition means you are stooping to their level, not stretching to establish your own level of excellence. You are letting other people set your agenda. That’s no way to run a dynamic creative engine of growth”(Anand & Attea, “International Management Group (IMG)”).
The core values of IMG are integrity, teamwork, open and honest communication, client and customer-centered attitude. IMG's competitive advantage lies in dedication to excellence which is one of the approaches to their business. The company also attracts and retains best people by contributing attractive pay and reimbursement in an entrepreneurial environment which promotes having fun. IMG’s diversity is an added advantage to their employees in gaining access to abundant career options across many specialties, in many countries including sales, law, marketing, client and event management, licensing, television production, graphics design, multi-media and website development, corporate tax, corporate finance, promotions, account management, administrative support and customer service.
It can be observed from the above figures that Interpublic and Clear Channel Entertainment are the market leaders and IMG is the distant third. It can be well said that there is a sort of duopoly existing in the sports entertainment industry.
Interpublic, the market leader has been a public traded company and is listed at NYSE. The 52-week low share price for the period of September 01, 2009 to September 01, 2010 has been $ 5.89 whereas the high was $ 9.87. The company in contention i.e. IMG has been a privately traded company (Yahoo! Finance, “Interpublic Group of Companies”).

References

Anand, B. & Attea, K. International Management Group (IMG) Harvard Business School, 2002.

Plunkett Research Ltd. “Sports Industry Overview”. September 24, 2010. Industries, 2010. <http://www.plunkettresearch.com/Industries/Sports/SportsStatistics/tabid/273/Default.aspx>

Slack, Trevor & Parent, Milena M. Understanding sport organizations: the application of organization theory Human Kinetics, 2006.

Yahoo! Finance, “Interpublic Group of Companies”. September 24, 2010. Get Quotes. 2010. <http://in.finance.yahoo.com/q/hp?s=IPG&g=d&a=08&b=1&c=2009&d=08&e=1&f=2010>

preview essay on Financial Data of Industry and Competitors
  • Pages: 6 (1500 words)
  • Document Type: Research Paper
  • Subject: Management
  • Level: College
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