- 15 Marks
MGE – Nov 2014 – L2 – Q5 – Innovation and Strategic Renewal
Developing strategies for recruiting and retaining innovative staff to sustain competitive advantage.
Question
Hi-Tech Industries Limited is a leading manufacturer of computers and mobile phones in the country. The company is considering the implementation of low-cost, differentiation, and innovation strategies aimed at sustaining and improving its competitive position. Hi-Tech plans to make its flagship product, Zeta Phone, the mobile phone of choice, offering innovative and cutting-edge technology to its consumers.
For the company to transform into an innovative organization as the business strategy requires, it must employ staff workgroups with highly skilled, innovative, and energetic people who can bring life to new ideas quickly and inject the same into the organization.
A skills audit recently conducted by the company showed that the company does not have enough staff that possess those qualities. To address this deficit, the management decided to train existing staff, employ, and retain the best candidates that the labor market can offer.
Required:
Formulate strategies that Hi-Tech Industries may adopt in its policy for employment and retention of human resources.
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