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Merger Of The Institute Of Electrical Engineers, Institute Of Mechanical Engineers And The Institute Of Incorporated Engineers Marketing Plan Case Study.

7885 words - 32 pages

1.Executive SummaryCurrently there are three major professional institutions within the UK which represent the interests of professional engineers, the Institution of Electrical Engineers (IEE), the Institution of Mechanical Engineers (IMechE) and the Institution of Incorporated Engineers (IIE). Each of these institutions represent the professional interests of engineers, both nationally and to a lesser extent internationally within their individual spheres of interest. Each institution has its own properties, academic and administration staff to execute its business; this leads to the maintenance of many high value properties and much duplication of work across the three institutions.The aim of this report is to state the case for merging the three institutions into one large institution, representing the professional interests of all engineers regardless of discipline ad spheres of interest.The proposed merged institution would be the largest and most powerful professional engineering institution outside of America, with a membership of approximately 250,000 engineers at the point of merger. This number of members compares to the fact that in 2001 there were 1.67 million engineers employed in the UK, this indicates a large pool of potential members of the merged institution. The size and power of the merged institution would afford it an enhanced position from which to pursue the interests of professional engineers and raise the profile of UK engineering at the highest level both at home and abroad.Execution of the merger would afford the opportunity to make significant, long term financial savings. These saving would be realised by the sale of properties owned by the three institutions that will not be required post merger, reduction in the number of employees across the three institutions that will not be required post merger and the cessation of rental leases and maintenance agreements on any properties not required post merger.The total budget for the merger is estimated to be ,650,000, this cost is expected to be realised by the savings detailed in the paragraph above. The merged institution is expected to have assets of approximately 0,000,000 so any shortfall between savings made and the budget can be met from these assets and still leave a very substantial fund of money.Threats are expected to come from smaller, rival institutions that represent very specialised engineering disciplines and from existing members of the three institutions that will oppose the merger. The existing members will be informed of the merger via mail shots, details on the websites of the three institutions and by the roadshow staffs of the three institutions at engineering exhibitions, seminars and shows across the country and abroad. The threat posed by rival institutions can be countered by a strategy of differentiation based upon:Excellent quality of service.Tradition and history.Size and influence of the institution.Value for money.Networking possibilities...

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