2. Mission of IMC
Mission is a written declaration of an organization's core
purpose and focus that normally remains unchanged over time.
Properly crafted mission statements serve as filters to separate what is
important from what is not, clearly state which markets will be served
and how, and communicate a sense of intended direction to the entire
organization.
According to this case the mission of IMC is to achieve
success in the near future as like the present. Consequently, the
president after the meeting have analyzed to improve the current
models and reduce the cost and price of farm machine and want to get
long term profit.
3. External Environment
The external environment comprises of all entities that exist outside its
boundary, but have significant influence on its growth land survival. An
organization has little or no control over its environment but needs to
constantly monitor and adapt to these changes to achieve success and goal
in the market. By the analysis of external environment the corporation
should make changes to adapt the market. IMC is affected by following
components:
Political environment
Economic environment
socio-cultural environment
Technological environment
After analysis of these components IMC have some
opportunities and threats in external market.
4. Opportunities and Threats of IMC
Opportunity: A condition in the general environment that, if exploits,
help a company to achieve strategic competitiveness and goal.
By examining opportunities we can discover untapped market and new
products of technologies or identify potential revenues for
diversification. Here are some opportunities of IMC which are given
below:
Emerging customers needs
Quality improvements
Expanding global markets
Vertical integration
5. Threats
Threats: A condition in general environment that may hinder a company
efforts to achieve strategic competiveness and goals.
By examining threats, we can identify unfavorable market, shift or change
in technology and create a defensive posture aimed at preserving your
competitive position. Some of the possible threats of IMC are given
below:
New entry by competitors
Shifting demand
Emergence of cheaper technology
Regulatory requirements
6. Strengths
Strengths can be found in all areas of a company, but what is not strong
can be made strong with appropriate changes. To determine
company's strengths, begin by looking at the people who work there.
Analyze the skills, knowledge, capabilities and the impact your
employees have on others both inside and outside the company.
Perhaps your people are your greatest strength. IMC which is an well
successful company has following strengths:
Technological skills
Leading brand
Distribution channels
Production quality
7. Weakness
Weakness is the weak point of a organization which causes misleading in
achieving goal for a firm. Weakness hinder back the success of a firm
by creating different weak point in the organization. IMC as a well
corporation in international level have some weakness which are as
follows:
Misunderstanding among employees
Relationship with customers
Research and development
Introduction of new models
8. Open system in IMC
Open systems theory refers simply to the concept that
organizations are strongly influenced by their environment. The
environment consists of other organizations that exert various forces of
an economic, political, or social nature. The environment also provides
key resources that sustain the organization and lead to change and
survival.
IMC which is an international level corporation is
greatly effected by its environment. In the corporation, farm machine
is produced and distributed all over the world. So the corporation has
adapt the changes of the external environment and has deal with
problems to achieve success in the international market. The
corporation has well deserved satisfactory for its success.
9. CONCLUSION
After analyzing the case , we came to know that we
should know about our internal and external
environment. So that our organization can tackle with
various issues for achieving success.