Question

Mirage Inc., a management consulting firm, has experienced an expansion in its profit in the last four quarters. It plans to hire more employees to provide services to its new customers. It therefore launches an intense recruitment drive and collaborates with colleges to tap potential employees. This is an example of a _____ strategy.

Answer 1

Answer:

growth.

Explanation:

An organization's growth strategy is an action plan that the company will implement to achieve expansion of its activities.

For a company to grow effectively, it needs to be analyzed and planned for its growth strategy, so that there is restructuring and innovation that enables compliant growth to take advantage of business-related opportunities.

Customer expansion occurs when a company wants to expand its customer base by offering a higher quality service or product, hiring new employees to deliver superior service and support growth.

In a general context, organizations wishing to expand should look at the critical points such as investments, logistics, customers, communication, which require further restructuring of innovation and training, so that there are significant changes that positively affect all stakeholders.