Question

Straps Inc. is a leading manufacturer of high-end watches. It is renowned for its reliability and quality and enjoys a monopoly in its home market. It has now adopted a strategy to expand its business into neighboring countries. Which of the following human resource strategies should Straps Inc. follow to maintain the same momentum in the new markets?

A. It should keep the size of its workforce small to increase efficiency.
B. It should hire employees who would not remain with the company for long.
C. It should exclusively focus on marketing to people from the business industry.
D. It should hire workers who can provide exemplary customer service.

Answer 1

The answer in this instance would be option D. or It should hire workers who can provide exemplary customer service.

Step-by-step explanation:

• Straps Inc. is a monopoly renowned or reputed for its product quality and reliability of business services within the home market.Hence,it has already established considerable market reputation and recognition among the customers in the home market.
• To effectively maintain same market reputation or momentum in the new market in neighboring countries,it should make sure that the same quality of service and product reliability can be established and further consolidated in the new markets by ensuring a workforce or labor force which can efficiently maintain the same level of qualitative superiority and product or service reliability.
• Hence,the company can consider building a strong and effective labor force to cater to the new markets in neighboring countries to maintain its existing market momentum or reputation and qualitative goodwill in the market.