Question

Labyrinth Inc. is a new, very successful, brand of organic clothing recently introduced globally. The company is unique in that it has collaborated with its suppliers and potential customers to bring the clothing to market. 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 Labyrinth?

A) Efficiency is the only key to their continued success.
B) Now it is time for them to consider only effectiveness because they clearly have efficiency under control and this is not likely to change in the future.
C) To continue their success, they should maintain a clear focus on both effectiveness and efficiency, especially while their company is experiencing such a high growth in sales.
D) They should maintain the status quo without implementing any changes to continue making quick sales.
E) As top-level managers, the best action plan for them is to begin to minimize collaboration with customers and suppliers because they have proven themselves

Answer 1

The best advice for Labyrinth Inc. is to focus on both effectiveness and efficiency to ensure sustainable growth and adaptability. They should avoid complacency and continue collaboration with suppliers and customers.

Step-by-step explanation:

The best advice for the founders of Labyrinth Inc., a company specializing in organic clothing, is C) To continue their success, they should maintain a clear focus on both effectiveness and efficiency, especially while their company is experiencing such high growth in sales. While efficiency is about doing things in the most economical way, effectiveness is about doing the right things to achieve the desired results. As Labyrinth grows, the founders should continue collaborating with suppliers and customers, as well as seek to balance both efficiency and effectiveness to ensure long-term sustainability and adapt to the changing market needs.