Coolwear Inc. is a new brand of organic clothing recently introduced throughout the world. The company is unique in that it has collaborated with its suppliers and potential customers to bring the clothing to market. The concept has been a huge success. Yao and Gita, Labyrinth's founders, have always focused on being efficient managers. What is the best advice you should give them, given the quick success they have had with Coolwear?

Question

Quizplus · Accepted Answer

While efficiency is important, it is not the only key to success. In this case, Coolwear's success has been attributed to collaboration with suppliers and customers, which has likely contributed to the effectiveness of their brand as well. As the company is experiencing high growth, it is important for Yao and Gita to maintain a focus on both effectiveness and efficiency in order to ensure continued success. They should not maintain the status quo without implementing changes, as this may hinder their ability to adapt to changing market conditions. Minimizing collaboration with customers and suppliers may also be detrimental to their success, as it has been a key factor in their initial success.