If the business analyst has determined that the existing capabilities are inadequate to seize an opportunity, the best course of action is to recommend that the organization launch a project to create the capabilities needed.
This way, the organization can leverage the opportunity to gain a competitive advantage, deliver value to the stakeholders, and achieve the business objectives. A project is a temporary endeavor undertaken to create a unique product, service, or result1. A project can help the organization to develop new or enhance existing capabilities, such as skills, processes, technologies, or resources, that are required to seize the opportunity2. The business analyst can play a key role in defining the project scope, requirements, and deliverables, as well as facilitating the collaboration and communication among the project team and stakeholders3.
The other options are not correct because:
Option B is incorrect. Recommending that the organization not pursue the opportunity is a passive and pessimistic approach that can result in missed opportunities, loss of market share, and reduced customer satisfaction. The organization should not give up on the opportunity without exploring the possible ways to create the capabilities needed to seize it4.
Option C is incorrect. Recommending that the organization hire contractors with the needed capabilities is a short-term and costly solution that may not be sustainable or effective in the long run. The organization may not be able to retain the contractors after the project is completed, or may face challenges in integrating them with the existing workforce. The organization may also lose the opportunity to develop its own capabilities and learn from the experience5.
Option D is incorrect. Recommending that the organization share the opportunity with other organizations is a risky and uncertain strategy that may not benefit the organization in the end. The organization may have to compromise on its vision, values, and goals, or may face competition or conflict from the other organizations. The organization may also lose the opportunity to differentiate itself and create unique value for the stakeholders6.
References:
What is Project Management | PMI, first paragraph
Capability Development - Strategy Tools, section "What is Capability Development?" The Role of Business Analyst in Project Management - Simplilearn, section "What Does a Business Analyst Do in Project Management?" How to Identify and Seize Business Opportunities - BusinessTown, section "Don't Let Fear Stop You" The Pros and Cons of Hiring Contractors vs. Employees - Indeed, section "Cons of hiring contractors" Collaboration vs. Competition: Which is Better for Business? - Forbes, section "The Downside of Collaboration"