If a small firm is to maintain its performance over time, it is most essential to
A) continue to reinvent itself.
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

To maintain performance over time, a small firm must continuously adapt and innovate to remain relevant in the market. This requires a willingness to change and reinvent oneself, rather than relying solely on past strategies or retaining the same personnel. Therefore, the most essential factor for a small firm to maintain its performance over time is to continue to reinvent itself.

If a Small Firm Is to Maintain Its Performance Over