Strategic Planning for Sustainability in a Start-Up Company: A Case Study on Human Resources Consulting Firm

Abstract

With the increasing globalization, companies try to be more specialized on the market to become prominent among their competitors. This fact leads managers to recruit qualified and experienced personnel, which is an expensive and effortful process. Recruitment process has critical importance to find out the most adequate personnel. The most significant difficulty in that process is to find the right person in a short time period with a relatively small budget which requires a rich portfolio. Due to the difficulties in creating a rich portfolio and eliminating the candidates, companies prefer outsourcing human resources processes. Therefore human resources consulting firms have become more widespread to meet the needs of the companies on the experienced and qualified human resources. The purpose of this paper is to find out the primal growth strategies for a start-up human consulting firm to make sure the sustainability of the company. The paper utilizes extended SWOT analysis to determine primary strategies and balanced score card (BSC) approach to determine the best growth strategy with a real case study. Keywords: Strategic management, Sustainable strategic planning, Start-ups, Balanced Scorecard, SWOT analysis