Swanz, a cosmetics manufacturing company, plans to stay in the cosmetics business and become the market leader in the cosmetics industry. However, the company is facing natural attrition and hence directs the human resource department (HR) to develop ways to reduce the turnover rate. The department decides to provide training to the company's current employees to increase their skills so that they become more valuable to the organization. In the given scenario, the HR department wants to implement a

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Business

Hubbard

29 September, 12:06

Swanz, a cosmetics manufacturing company, plans to stay in the cosmetics business and become the market leader in the cosmetics industry. However, the company is facing natural attrition and hence directs the human resource department (HR) to develop ways to reduce the turnover rate. The department decides to provide training to the company's current employees to increase their skills so that they become more valuable to the organization. In the given scenario, the HR department wants to implement a

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Triston Wiley · Answer 1

In the given scenario, the HR department wants to implement a stability strategy.

Explanation:

A stability strategy corresponds to a business policy in which the business avoids advancement spending, in other terms it applies to a circumstance in which the corporation does not enter new industries or launch new goods. Such strategy is implemented by the organization for reasons relating to:

When the firm decides to strengthen its role in the sector in which the company operates. When the economy is in downturn or the market is slowing down, corporations want to have more cash in their income statement instead of spending the cash for growth or other expenditures like that.