Managing HR Essay Example

and will have already established a reputation and clientele, avoiding the challenges typically faced by startups.

4. Polaroid's rapid popularity was fueled by its unique product in the market at that time - instant pictures. However, the company failed to adapt to changing market trends and retain a competitive advantage. Following Land's departure, it was uncovered that Polaroid had wrongly identified their target consumer group. Rather than recognizing the real estate market as their main audience for cameras, they mistakenly believed birthday parties were the primary use for their cameras.

5. The President or CEO bears primary responsibility for employment decline, as seen in the case of Polaroid's. However, all levels of management should also share accountability. They need to be attentive, especially in HR, and conduct investigations when there is a decrease in employment. Operational employees have a duty to notify management or HR if they notice issues causing high turnover. Otherwise, they could end up jobless if the company shuts down. Thus, they should make an effort to safeguard their own position. If a senior company official is leading the company astray, similar to what Land did, it becomes everyone's obligation to speak out. While shouting at a meeting may not be the most effective approach, finding ways to secure funding for expansion or developing new marketing campaigns that steer the company towards a different direction can prove fruitful.

6. Polaroid's early employees were highly dedicated and passionate, working tirelessly around the clock. Unlike the present time, downsizing and outsourcing had no impact on their motivation. These pioneers in technology found their drive from being part of something new.

Edwin Land, the founder of Polaroid, instilled in them a sense of ambition and a vision that made them believe in their boundless potential. However, as Polaroid neared its Chapter 11 filing, the emphasis on working "around the clock" likely faded away. The initial excitement decreased and the company's limited market focus no longer inspired them.

7. To enhance Polaroid's HR strategy, I propose implementing a plan that targets the recruitment of exceptional talents in television and photography development, similar to Microsoft's software development approach. This would involve actively engaging with colleges and staying updated on emerging trends. By collaborating with young individuals, we can explore fresh possibilities in social media. Perhaps the future of cameras rests solely in smartphones? If so, we could form exclusive partnerships with major brands such as Apple and Blackberry through contractual agreements. Incentive packages would be performance-based rather than relying solely on salary. Additionally, it would be advantageous to hire individuals from different generations for future television projects. If we manage to create something that delivers outstanding picture quality, promotes quality family time, and captures the interest of multiple generations, we may have discovered the next groundbreaking innovation.

8. Are there any other companies that failed to successfully transition to new growth stages with new products after achieving initial success? What caused their failure? One example of such a company is the Blackberry brand, which was once considered a major player in phones and a pioneer in the smartphone industry. However, they failed to adapt to evolving consumer demands, such as the increasing need for instant connectivity and touch screen technology. As a result, their stock

value plummeted significantly after experiencing an initial rapid rise. Despite recently introducing an Android-based smartphone, many believe it is too little too late for them. The product has been underwhelming compared to competitors who have already entered and dominated the market with more advanced technology. Nowadays, Blackberry's technology is outdated when compared to phones that were popular three generations ago.

In the business world, complacency often leads to failure in adapting to changing times. What was considered new just last week is already outdated nowadays. In our office, it's a running joke that as soon as everyone gets upgraded with the latest software and phones, a new version is released, requiring another upgrade. Businesses can no longer afford to wait months or even years to develop new products after their release in today's fast-paced environment. They must continuously innovate and be prepared to address any issues within the first week of launch. Our world has significantly accelerated since 1948, yet some businesses still fall into the trap of relying on their initial success indefinitely like Polaroid did, without realizing that there are always competitors waiting for an opportunity to steal their spotlight.