The correct answer to this open question is the following.
What I would do if I were a manager to help my company to maintain its competitive edge, would be the following.
As the owner of my company, I would first establish the right corporate culture so every employee would follow it through.
Then, I would make sure to hire the best people available in the labor market. For that to happen, I have to establish a good compensation package and salary that would be attractive to hire and retain the best employees.
Then I would marketing research to directly hear from my clients and consumers what they have to say about my products and services. This will give a clear idea of their opinion and what they are expecting of my company.
Then, I would invest in technology to make my processes more efficient and effective.
I would practice a financial audit in order to have every process regulated and make employees know that there is only one way to do things in my company: the right way.
I constantly communicate with all employees because I think this is one of the most important things to generate understanding and trust.