The company also needs to be wary of some external threats with regard to its growth plans (SWOT Analysis). Google and Apple are taking advantage of the talent pool available in their respective areas and may be able to get better engineers into their R&D departments leading to better innovation. RIM needs to react soon to this or it may get left behind in the fast-moving industry (Beamish). Major competitors are also accessing RIM’s talent pool at Waterloo, recognizing it as one of the best in the world which may further diminish the supply for the company at a time when it needs to grow in terms of personnel.
There is also the ever-present demon of industry growth and rapid innovation which requires nurturing of R&D as fast as possible for the company’s long-term survival in an industry that is not kind to laggards. Considering also the rapid advancement of the industry with products such as the I-phone and the mobile series marketed by Nokia. This is further elucidated by the drop in near monopolistic status Blackberry once used to enjoy in the market. Thus this growing competition is a threat to the company that can potentially take away its profit margins if innovation is not brought on a regular basis.
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