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Being well versed in the newest technology that quickly keeps them abreast of changes in the market they are entering. They will definitely need to hire key market researchers that are well versed in technology. “Global competition has become so intense that HRM professionals are now being asked by their firms to optimize the skills, talents, and creativity of every employee” (Ivancevich and Konopaske, 2013, p. 48).SWOT ANALYSISStrengthsMotors and More, INC., strength is that they follow a prospector strategy, which takes advantage of new markets and products. Since the emphasis is on growth, innovation and new product development, human resources will have a foundation to build upon when it comes to their hiring selection and training development. This flexibility will make them a more decentralized organizational structured company. If they follow this prospector strategy and are successful in creating an organizational environment that will solidify their positions, they will create a favorable marketing opportunity. “The three main sources of market opportunities are firstly, to offer something that is in short supply, which requires little marketing talent, secondly to supply an existing product or service in a new or superior way and lastly to be good at spotting opportunities that often lead to a totally new product or service” (Kotler and Keller, 2012, p. 48).Weaknesses
8Motors and More, INC., weaknesses are firstly related to being stationed in a small town with a low unemployment rate of 3.1% which means that the demand for workers exceeds the labor supply. Secondly, of the 116 people they a very high employee turnover rate. Lastly, they have a low diversity within the company with 88% of its employees being Caucasian and less than 1% of upper level management being female, which, alienates their minority labor market population of approximately 48%. OpportunitiesMotors and More, INC., has the opportunity to capitalize off of the increased product demand because they are already positioned in this particular market. If they seize the opportunity to capitalize and increase their output by 96% to create and capture its market, they will gain the momentum needed to be the company to benchmark. ThreatsNew entrants will be a threat to Motors and More, INC., if they come in to split the market. New entrants will also have the opportunity to hire past employees and also utilize the nearby college to gain new interns, which would also cut into the company’s targeted pool of possible hires with scholarly credential. PORTER’S FIVE FORCES OF COMPETITIVE POSITION ANALYSISSupplier Power
9When it comes to the relationship of Motors and More, INC., and its supplier, become the consumer. “Consumer transaction costs include such things as the costs of searching for the product, learning product characteristics and quality, negotiating terms of sale with a supplier, and enforcing agreements” (Brickley, Smith and Zimmerman, 2016, p. 259). Following the proactive strategy, Motors and More, INC., falling short of