Skylark Corporation produces apparel for women.The firm experienced a boom in the introduction phase of its life cycle due to the high-quality talent of its middle and top-level executives.Which of the following would help Skylark retain its competitive advantage in the present economic downturn?
A)Repeating the old strategies that enabled the company to rise.
B)Changing its process-related advantages for new strategies.
C)Opening its doors to a flood of new employees as labor is cheap.
D)Keeping existing employees satisfied and recruiting top talent.

Question

Quizplus · Accepted Answer

Keeping existing employees satisfied and recruiting top talent is the best choice as it will help Skylark retain its competitive advantage. The high-quality talent of middle and top-level executives was the reason behind the boom in the introduction phase, and retaining that talent will continue to benefit the company even in an economic downturn. Repeating old strategies may not work as market conditions may have changed, and opening doors to a flood of new employees as labor is cheap may mean compromising on quality standards. Changing process-related advantages for new strategies may not be feasible or effective if the existing processes are already working well. Thus, the best option is to focus on retaining existing talent and attracting new talent.

Skylark Corporation Produces Apparel for Women