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Arctic Shores
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=== What's the current strategy of the company? === [[File:Illustration of a dynamic growth tree with branches representing different strategic areas International Expansion, Soft-Skills Development, Revenue.png|thumb|An illustration of a growth tree representing different strategic areas and initiatives of Arctic Shores.]] Based on the available information, the long-term strategy of Arctic Shores Limited seems to be oriented towards international expansion, enhancing soft-skills assessment capabilities, and fostering diversity and inclusion in recruitment processes. Here’s a structured breakdown of the company's strategy over the next five years, inferred from the various sources and historical trajectory: # '''International Expansion:''' #* There's a strong emphasis on international expansion, as evidenced by the Series A and Series B funding rounds aimed at accelerating the company's growth abroad, particularly in Europe.<ref name=":16">https://www.praeturaventures.com/arctic-shores-closes-5-75m-series-b-to-spearhead-the-soft-skills-assessment-market-and-accelerate-growth/#:~:text=Press%20release%3A%20Arctic%20Shores%2C%20the,international%20expansion%2C%20specifically%20in%20Europe</ref><ref name=":17">https://www.uktech.news/funding/vc-funding/arctic-shores-secures-5-5m-series-a-20190902#:~:text=Arctic%20Shores%20has%20announced%20that,clients%20including%20PwC%2C%20Airbus</ref> #* With offices in Manchester, London, and Singapore supporting a fast-growing roster of global clients, the company aims to increase its international revenue, which constituted 48% of its total revenue in a recent financial year.<ref name=":17" /> # '''Development of Soft-Skills Assessment Capabilities:''' #* A portion of the funding received is designated for accelerating the development of soft-skills assessment, likely to meet the growing market demand and adhere to the evolving recruitment practices.<ref name=":16" /> # '''Revenue Growth:''' #* The company has shown a promising revenue growth trajectory, hitting $2.7 million revenue recently, hinting at a strategic focus on increasing revenue possibly by expanding its client base and enhancing its product offerings.<ref>https://getlatka.com/companies/arctic-shores#:~:text=Arctic%20Shores%20CEO%20Robert%20Newry,7%20million%20in%202023</ref> # '''Diversity and Inclusion:''' #* Arctic Shores is committed to contributing towards a work environment that’s truly fair and inclusive, with one of its founding principles being that everyone deserves a fair shot.<ref>https://www.arcticshores.com/our-story#:~:text=Explore%2C%20always%20We%20can%E2%80%99t%20change,everyone%20deserves%20a%20fair%20shot</ref> # '''Technological Innovation and Product Development:''' #* Continuation of the innovative blend of game technology, behavioral science, cognitive neuroscience, and data analytics in its platform to help organisations and individuals make better people and career choices, likely reflecting a long-term strategy of technological innovation and product enhancement.<ref>https://www.arcticshores.com/our-story#:~:text=Explore%2C%20always%20We%20can%E2%80%99t%20change,everyone%20deserves%20a%20fair%20shot</ref> # '''Customer Acquisition and Retention:''' #* Building on a robust client base including global entities like PwC and Siemens, the company may focus on customer acquisition and retention to further its revenue and market share. # '''Thought Leadership and Industry Contribution:''' #* With a history of contributing to the discourse on modern recruitment practices and being recognised as a thought leader in the HR and talent acquisition space, it's plausible that Arctic Shores will continue its efforts in these areas, possibly through research, publications, or collaborations with industry stakeholders. # '''Continuous Research and Development:''' #* Given the company's past emphasis on refining its assessments and staying ahead of emerging trends in recruitment, continuous R&D efforts are likely to remain a part of its long-term strategy. # '''Market Adaptability:''' #* Adapting to market needs and trends, such as the emphasis on soft skills and fair recruitment practices, will likely continue to shape the company's strategy, ensuring its relevance and effectiveness in the evolving recruitment landscape.
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