International Management Group and Competitors of IMG Research Paper

International Management Group and Competitors of IMG - Research Paper Example Along with the global giant's several local industries to contribute to the growth of the sports industry worldwide. A few sports goods manufacturers of the world are like Puma, Slazenger, Stiga, Dunlop, and Yonex. The estimated size of the entire sports industry in 2010 is expected at $414 billion (Plunkett Research Ltd., â€Å"Sports Industry Overview†). The competitors of IMG are Interpublic, Clear Channel Entertainment (formerly known as SFX), William Morris Agency, Creative Artist Agency, Magnum Sports and Entertainment, Nike, WPP group, Dentsu, TBA Entertainment, Ford models and Pro Form Golf. The overall areas on which the competitor companies are mainly engaged are like athletes, models, authors, speakers, artists, actors, events, television production, consulting/ licensing, film production, money management, advertising, and academies. Clear channel and Interpublic focuses on a number of areas except for television production, money management, and academies. William Morris Agency focuses only in the areas like authors, speakers, artists, actors, and athletes. Magnum Sports focus on athletes, models, and events. Nike’s focus is only on athletes and events. WPP and Dentsu focus only on academics and licensing/consulting. TBA focuses on speakers, actors, events, television products and advertising. Ford concentrates on the athletes only. One of the competitors ProForm Golf is involved only in the area of academics. The vision of the firm, the association of a number of renowned athletes, and the goodwill of the founder may be said to be a few of the competitive advantages of the firm. In 2000, the market value of American sports was approximately $200 billion, which made it country’s 11th largest industry. IMG in turn was credited with having invented the field of sports management almost 40 years earlier. At present IMG represents a number of the most talented and exciting athletes, including golf star Tiger Woods and tennis players  like Venus and Serena Williams. Mark Hume McCormack was declared as the most powerful man in golf by Golf Magazine, Sports Illustrated labeled him as the most powerful man in sports and Tennis magazine figured him as the most powerful man in tennis.