Searching for ideas and thoughts to this part of my essay.You lean that a competitor has made an important discovery. It will substantially reduce, but not eliminate your profit for about a year. There is a possibility of hiring one of the competitor's employees who knows the details of the discovery. Would you hire this person or not hire this person?
No.
It's probably unethical to hire this person. Most companies have employees sign non-disclosure agreements that prohibits them from working for a competitor for at least a year after they leave.
If you have faith in your own engineers, then give them the task of finding new discoveries that would benefit your company.
Another thought --
Do you want an employee who would sell out his/her company to a competitor? Might this person do the same to you?
In order to generate ideas and thoughts for this part of your essay, let's consider a few points to help you weigh the decision of whether to hire the competitor's employee who knows the details of the discovery.
1. Evaluate the impact of the discovery: Begin by assessing the significance of the competitor's discovery and its potential effect on your profits. Consider the extent of the reduction in profit and the duration of this impact. You need to determine whether this reduction is manageable or if it could significantly jeopardize your business.
2. Analyze the information held by the employee: Assess the knowledge and expertise possessed by the competitor's employee. Determine if the details of the discovery are valuable enough to potentially compensate for the reduced profits. Consider how this new information could be leveraged to create alternative revenue streams or mitigate the negative impact on your profits.
3. Evaluate the potential risks: Hiring an employee from a competitor who holds sensitive information can raise legal, ethical, and reputational concerns. Assess the potential consequences, such as legal battles or damage to your company's reputation if it is perceived as engaging in questionable practices.
4. Assess the employee's credibility and loyalty: Consider the ethical implications of hiring someone who may have shared confidential information about their previous employer. Evaluate the employee's level of loyalty and integrity, and assess if they are reliable enough to maintain confidentiality within your organization.
5. Explore alternative solutions: Before making a decision, consider other potential strategies to adapt and compete effectively. Is there a possibility of developing your own solution or improving existing processes to minimize the impact of the competitor's discovery? Weigh the advantages and disadvantages of each option.
By carefully considering these factors, you can develop a well-rounded analysis for your essay, highlighting the various perspectives and potential outcomes of hiring or not hiring the competitor's employee.