IMG Case Study Example | Topics and Well Written Essays - 500 words

IMG - Case Study Example Currently, the company has diversified to include services such as stadium ownership and management, television, event ownership, modeling organization among others (Anand and Attea 1-23). Further, IMG has proved to be a successful business empire that grew from focusing only on one opportunity kind. However, this single opportunity lead to diversification and realization of other viable but related opportunities. This diversity has however been managed through the introduction of subsidiary companies to manage different interests of the mother company. As such, McCormack (or his successors) should go ahead and seek diversity since it has proved to add value into the mother company. Further, in so doing the company will be hedging itself against competition from other companies that may seek to exploit these diversities. Moreover, the company has laid down a strategy that has defined the role of any given subsidiary venture. In fact, such a subsidiary company is at liberty to manage itself as an independent company. As such, the need to engage in experts is covered by the presence of IMG itself. However, due to the dynamic unpredictable eventualities in the nature of its business dealing there may crop a situation that will call for expert’s services. For example, if IMG or on of its constituent company is faced by a legal issue, then it will be necessary to indulge the services of an equally potential law firm (Anand and Attea 1-23). Given the reputation of this organization, the concerns of engaging external consulting firms have not been a concern to it. The founder and CEO of IMG have strategically approached this situation through specialization and division of duties. The specialization calls for an independent company to manage all duties related to that field. For example, tennis duties are ran by a single company, such that the players and tennis events, tennis broadcasts as well as tennis courts will