Industry Qualifications (IQ) has announced the acquisition of the name and assets of the Institute of Administrative Management (IAM).
The purchase, which was concluded on Monday 27 January 2014, has resulted in the IQ ownership of the intellectual property of IAM qualifications along with supporting learning materials, the IAM databases, the IAM name and the title to the magazine ‘Manager’.
IAM (which was originally established in 1915 and, as such, is the oldest management institute in the UK) entered liquidation in November.
Following the purchase, IQ will be able to offer 40 additional qualifications in management at Levels 4 to 7. IQ will also provide learning support materials for all of those qualifications through its sister company IQ Resources.
Management development and assessment market
“We are delighted to have concluded this purchase,” said Raymond Clarke, CEO of IQ. “The acquisition of IAM will propel IQ into a leading position in the management development and assessment market, and help provide recognised IQ assessment pathways into the Higher Education sector.”
Raymond Clarke: CEO of Industry Qualifications
Clarke added: “When combined with our current provision, IQ will be able to offer management programmes from Levels 2 to 6+ in subjects from team leadership to senior management and from short programmes to those with a duration of 2-3 years. The new qualifications will provide a major dimension to our international strategy.”
According to Clarke, the initial focus will be to re-establish the IAM qualifications within IQ and re-engage with those that had been studying on IAM programmes.
“It’s extremely important that we provide existing IAM students with the confidence to continue their studies,” asserted Clarke. “With over 7,000 students studying programmes leading to IAM awards, this has to be our highest priority. Once this is achieved, we will be communicating with members about the additional services that were provided by IAM that added value, and which could be retained, changed or enhanced. Of course, we’re also looking forward to celebrating the centenary of the IAM with members next year.”
IQ states that the use of the established IQ infrastructure is expected to radically reduce the cost base associated with the former IAM qualifications. When combined with the increased opportunities through the growing IQ networks in the UK and internationally, the viability of the qualifications increases and provides IQ with a significant platform for growth and brand development.