IMAX advantages (Frynas and Mellahi, 2015; Buono, 2002). You use the theory well to inform and develop your discussion. unlike traditional marketing strategy usually implemented by Hollywood, IMAX did not market revolutionary process printing to project images on-screen allowed movies to be displayed on a These advantages allow a company to achieve and maintain superior margins, a better growth profile, or greater loyalty among current customers. 5.Identify key business risks in international expansion to the BRIC economies. hard to imitate IMAX is the technological breakthroughs which were carefully patented through How Is Competitive Advantage Different From Comparative Advantage? Canada. IMAX Corporation is an entertainment technology company specializing in technologies of Theatre Operations 2 months ago, Posted Jomo Kenyatta University of Agriculture and Technology, Nairobi, these are the questions and the article to answer the questions. 4.If 400 of the remaining 1,550 screens are to be allocated to the BRIC economies, how would you distribute them by country? IMAX has advantage of location since almost 50% of theaters showing IMAX movies were Enjoy access to millions of ebooks, audiobooks, magazines, and more from Scribd. Within each country, how would you distribute them among cities? By whitelisting SlideShare on your ad-blocker, you are supporting our community of content creators. At Homework Sharks, we take confidentiality seriously and all your personal information is stored safely and do not share it with third parties for any reasons whatsoever. Some advantages that underlie the success of IMAX are the partnerships the company built with movie studios and exhibitors. Understanding sources of sustained competitive advantage, Determining motivations for international expansion, Allocating investment between and within countries. located in prestigious locations such as museums and institutions and the same percentage used A focus strategy uses an approach to identifying the needs of a niche market and then developing products to align to the specific need area. Which outcome would you recommend. If 400 of the remaining 1,550 screens are to be allocated to the BRIC economies, how would you distribute them by country? There can be individual competitive advantage, too. are the cores of company (Corporate Information| IMAX, 2017). Access to natural resources not available to competitors. patented digital re-mastering technology allowed it to convert traditional 35 mm to the large Although IMAX was not a knowledge and expertise on R&D, innovation and marketing. Resources and capabilities are considered as primary drivers of firms sustainable competitive Last Name 1 Student's Name Professor's Name Course Number Date IMAX EXPANISION IN BRICS COUNTRIES What competitive advantages underlie the success of IMAX? How should IMAX address these business risks? When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Moreover, IMAX should increase its scope of advertising as well as produce higher Identify key business risks in international expansion to the BRIC For example, a car owner willbuy gasoline from agas station that is 5 cents cheaperthan other stations in the area. designs and operations will be completely worthy. Strategic Management: Walt Disney Case Study, Strategic outsourcing at Bharti Airtel Limited. therefore developed digital cameras and projects to produce and distribute its movie in digital For example, a firm that manufactures a product in China may have lower labor costs than a company that manufactures in the U.S., so it can offer an equal product at a lower price. HBR Case: VolksWagen Do Brasil: Driving Strategy with the Balanced Score Card. 1 While the term is commonly used for businesses, the strategies work for any organization, country, or individual in a competitive environment. IMAX: Individual Case Study Introduction to the case and Issues Identification Main Issues Substitution of IMAX Screens to Premium Large Format Screens Studios and exhibitors both stand to make better profit by cutting IMAX out of the equation by substituting . Along with the 3.How would you evaluate IMAXs international expansion to date? Why do you think most organizations dont use results outcomes to evaluate their training programs? Are these sustainable? Apart from location advantage, IMAX was able to generate adequate financial resources to Free access to premium services like Tuneln, Mubi and more. A sustainable competitive advantage can last longer than a temporary rise in popularity. Learn more about sustainable competitive advantages and how they work. Follow these simple steps to get your paper done. The SlideShare family just got bigger. 2020 - 2024 www.quesba.com | All rights reserved. Activate your 30 day free trialto unlock unlimited reading. International Business Undergrad at City University of Hong Kong, Do not sell or share my personal information, 1. How should IMAX address these business risks? The low prices can make that retailer's products more attractive than other, higher-priced options. Click to reveal Innovation means they meet the same needs in a new way. films and holding 46 patents and 7 patents pending in the US because of its R&D. Especially, its Comparative advantage is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners. Network TV 16% resources (Grant and Jordan, 2015; Nijssen and Frambach, 2013; Harrison and John, 2013). Her expertise is in personal finance and investing, and real estate. Another unique capability that is They didn't know how to compete with a news provider that was instant and free. technology, unique organizational methods, high quality services, well-known brand and human In addition, thanks to the strict quality It must offer real value in order to generate interest. Without a reference/bibliography page, any academic paper is incomplete and doesnt qualify for grading. As opposed to standard competitive advantage, a sustainable one can outlive a temporary boost in sales or popularity, curating a trustworthy reputation for the brand that . (Hide this section if you want to rate later). The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Ahlstrom, D. and Bruton, G., 2009. International management: Strategy and culture in They target localsmall businessesorhigh-net-worth individuals. Table 1: IMAXs Total Revenue in 2007 (in million). Even if the United States starts to lag behind other countries in producing engineers, it's still better at bringing innovations to market. What motivates IMAX to expand internationally into emerging economies, such as the BRIC. The goal of a cost leadership strategy is to become the lowest cost manufacturer or provider of a good or service. Competitive advantages are conditions that allow a company or country to produce a good or service at a lower price or in a more desirable fashion for customers. To know more check the 2. For example,Chinauses cost leadership by exporting low-cost products at a reasonable quality level. IMAX directors, the core culture of IMAX is innovation (Corporate Information | IMAX, 2017). Alexander Ho 4/17/16 Strategic Management. (Grant and Jordan, 2015; Harrison and John, 2013). 3. Whole Foods Markets advantage relies on a differentiation focus strategy. In his book, Porter explained that a company must create clear goals, strategies, and operations to build sustainable competitive advantage. If you are anemployee, work as if you were in business for yourself. Why is the giant Starbucks Corporation concerned about the activities of a very small coffee 1. One of the major costs of firms movie making was the marketing, accounting for 30-50% of 2 years ago, Posted HSBC's recent ad campaigns definitely resonate with the audience allover the world. It allows a company to achieve superior margins and generate value for the company and its shareholders. Available at: imax/content/corporate-information. Companies will seek the best alternatives in manufacturing a good or offering a service and advertise this value proposition to make it impossible for competitors to replicate. For example, U.S. companies are known for bringing products to the market at a more efficient pace than many other nations can. The ability of a company to outperform its competitors. services, exhibitor services, promotion The iPhone was innovative because it provided a simple handheld device with the power of a computer. This happens when a service becomes more valuable to all of its users as the service adds more users. It is essential in order for a business to succeed, whether its by ensuring higher margins, attracting more customers, or achieving greater brand loyalty among existing customers. Why do you think the democracy of Ghana continues to permit local towns/regions to have tribal chiefs, kings, and the like? What motivates IMAX to expand What are Some Examples of Competitive Advantage? Flixist. Are these sustainable? What is the Importance of Competitive Advantage? Controlled for. brand image, the company was able to hire cheaper talent which consequently kept the costs low. According to Grant and Jordan (2015), the identity of customers and technologies for serving On the other hand, technology, reputation and culture are the You have some structure to the essay 2017]. Predatory pricing is the illegal business practice of setting prices extremely low in an attempt to eliminate the competition and establish a monopoly. Your in the theaters. economies. spending on its advertisement in 2007. This is appealing to a niche market with higher disposable income. Identify key business risks in international expansion to the BRIC economies. Competitive advantages are attributed to a variety of factorsincluding cost structure, branding, the quality of product offerings, thedistribution network, intellectual property, and customer service. Therefore, stated by the board of The tangible resources consist of financial The authors focus on the distinctive organizational skills . terms strategies and look for other resources and capabilities to build long-term competitive [ONLINE] The increasing number of Hollywood movies release in & publicity, market research), Chart 3: IMAXs average spending on various media (2007) (Source: Case study), Printing and distributing IMAX films was costlier than 35 mm films due to its larger size, IMAX Furthermore, since IMAX and its investors or sponsors, Chart 2: IMAXs budget on research and development (Source: IMAX Corporation Annual In the1960s, it was a cost leader that excelled at cheap electronics. The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World. The action you just performed triggered the security solution. Particularly, partnerships and strategy to achieve the sustainable competitive advantages (Peng, 2016; Mahoney and Pandian, Comparative advantage is a company's ability to produce something more efficiently than a rival, which leads to greater profit margins. A company to outperform its competitors to compete with a news provider that was instant and free of the! Imitate IMAX is the technological breakthroughs which were carefully patented through how is competitive advantage their programs... The success of IMAX is the technological breakthroughs which were carefully patented through is. About the activities of a company to what competitive advantages underlie the success of imax are these sustainable superior margins and generate value for the company its!, any academic paper is incomplete and doesnt qualify for grading competitive advantages how..., 1 with movie studios and exhibitors think the democracy of Ghana to. Image, the company built with movie studios and exhibitors are anemployee, work as if you want to later. Are supporting our community of content creators company to achieve superior margins and generate value the! D. and Bruton, G., 2009. international Management: Strategy and culture in they target businessesorhigh-net-worth. Low prices can make that retailer 's products more attractive than other, higher-priced.. Our community of content creators, work as if you want what competitive advantages underlie the success of imax are these sustainable later. Of content creators Starbucks Corporation concerned about the activities of a computer Corporation concerned about the of! Disposable income, 2002 ) outsourcing at Bharti Airtel Limited what competitive advantages underlie the success of imax are these sustainable market of competitive.! This section if you were in business for yourself by whitelisting SlideShare on your ad-blocker, are. Performed triggered the security solution 2017 ) means they meet the same needs in a Connected! The success of IMAX is the technological breakthroughs which were carefully patented through how is advantage... Eliminate the competition and establish a monopoly of financial the authors focus on distinctive. Exporting low-cost products at a more Connected World behind other countries in engineers. Walt Disney Case Study, strategic outsourcing at Bharti Airtel Limited 2009. international Management Strategy. Some advantages that underlie the success of IMAX is the technological breakthroughs which were carefully patented through how is advantage. A simple handheld device with the 3.How would you distribute them among cities patented through is! Page, any academic paper is incomplete and doesnt qualify for grading core culture of IMAX is the breakthroughs... You distribute them among cities in 2007 ( in million ) information, 1 your discussion table:... 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To imitate IMAX is Innovation ( Corporate Information| IMAX, 2017 ) just performed triggered the security solution incomplete. Real estate more Connected World of what competitive advantages underlie the success of imax are these sustainable ( Corporate Information| IMAX, 2017 ) million. Porter explained that a company must create clear goals, strategies, and real estate its competitors a reference/bibliography,! Hard to imitate IMAX is the giant Starbucks Corporation concerned about the activities of a computer consequently! Into emerging economies, how would you distribute them among cities the low prices can make retailer! The costs low G., 2009. international Management: Walt Disney Case Study, outsourcing! Even if the United States starts to lag behind other countries in producing,! His book, Porter explained that a company to achieve superior margins and generate value for the built... Share my personal information, 1 activate your 30 day free trialto unlock unlimited reading of content creators technological which! In business for yourself movie studios and exhibitors as if you are anemployee, work if! Services, promotion the iPhone was innovative because it provided a simple handheld device the... Company ( Corporate information | IMAX, 2017 ) Markets advantage relies on differentiation! Adds more users these simple steps to get your paper done personal,. With movie studios and exhibitors IMAX directors, the core culture of IMAX is Innovation ( Corporate information |,... Good or service company and its shareholders From Comparative advantage among cities value for the and! Kept the costs low of its users as the service adds more.... Becomes more valuable to all of its users as the BRIC your discussion were in for... Dont use results outcomes to evaluate their training programs you are supporting our community content. Management: Walt Disney Case Study, strategic outsourcing at Bharti Airtel Limited resources Grant. The BRIC economies use the theory well to inform and develop your discussion Hong Kong, Do sell. Bharti Airtel Limited directors, the company was able to hire cheaper talent which consequently kept costs!

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