HRM 3430 Chapter 1: Growth Strategies

• School: York University
• Department: Human Resources Management
• Course: HRM 3430
• Professor: Althea Gordon

Document Summary

In the private sector, many businesses/companies end up targeting growth as their main strategy. They mean strategy in terms of revenues, profitability, monetary values, sales, consumers, etc. The repercussions of the strategy of growth for human resources practices are enormous. This can be achieved in the following ways: incremental, international, merger, acquisition. Increasing products results in increasing customers and consumers as well as sales, revenues, profitability, and etc. Technology can also be used in order to keep up with all of the demands without compromising anything. This efficiency, convenience, ease and time consuming method makes the shopping experience so much more better for the customer which can lead to increased and additional spending and purchasing and longer/stronger customer relationships. The more effortless the shopping experience is made, the better it is in terms of incremental growth. You can very more customers by going global. You can achieve this by expanding the market and running your business/company in another country.