If a small firm is to maintain its performance over time, it is essential to
A) produce a continuous stream of competitive advantages.
B) extend the competitive advantage of the firm.
C) replicate the strategies that have led to success in the past.
D) retain the personnel who made the firm successful in the first place.

Question

Quizplus · Accepted Answer

In order for a small firm to maintain its performance over time, it must continuously produce new and innovative ways to stay competitive in the market. If it relies solely on past strategies, it may become outdated and lose its competitive edge. Retaining personnel is important, but it is not enough to ensure long-term success. Extending a competitive advantage may work for a period, but it is not sustainable unless new advantages are continuously developed.

If a Small Firm Is to Maintain Its Performance Over