According to the Agile Practice Guide, one of the principles of agile project management is to "respond to change over following a plan" 1. This means that agile teams should be able to adapt to changing requirements and market conditions, and deliver value to the customer as quickly as possible. Adding the competitor's functionalities to the product backlog (option A) may not be the best way to respond to change, as it may increase the scope and complexity of the project, and delay the delivery of the product. Asking the sponsor to add more people to the team (option B) may also not be effective, as it may disrupt the team dynamics and communication, and cause the Brooks' law effect, which states that "adding manpower to a late software project makes it later". Asking the team to increase the velocity to launch the product as soon as possible (option D) may compromise the quality and sustainability of the product, and put undue pressure on the team. Therefore, the best option is to help the team to find a new approach to launch the product as soon as possible (option C), which may involve prioritizing the most valuable features, reducing the technical debt, applying lean principles, and collaborating with the customer and other stakeholders. References: 1: Agile Practice Guide, Chapter 2: An Introduction to Agile, page 13 2: The Mythical Man-Month: Essays on Software Engineering, by Frederick P. Brooks Jr., page 25