Case Study: XYZ Corporation, a prominent player in the technology industry, is at a critical juncture in its strategic journey. Despite a history of successful product launches, a highly skilled team, and cutting-edge technology, the company is facing challenges. What should XYZ Corporation do to overcome these challenges?

A. Conduct a thorough analysis of the market and identify new opportunities.
B. Strengthen partnerships with other industry leaders to gain a competitive advantage.
C. Invest in research and development to innovate and stay ahead of the competition.
D. Implement cost-cutting measures to improve profitability.

Choose the best option that will help XYZ Corporation navigate through this critical phase and achieve long-term success.