With the deep analysis of the above alternatives, it is recommended that the company should select the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would enable the business to not only introduce new and ingenious items in the market it would likewise reduce the high expenditures on R&D under alternative 2 and increase the earnings margins. It would enable the company to increase its share rates as well, as investors are willing to invest more in business with considerable R&D costs and increase in the overall worth of the business.
Action and implementation Strategy
Method can be implemented effectively by establishing specific short-term as well as long term strategies. These plans might be as follows;
Short Term Plan (0-1 year)
• Under the short term plan Focused Philanthropy The Steans Family Foundation North Lawndale Initiative need to perform different activities to implement its NHW technique effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to analyze the core selling brand names, which produce the majority of its earnings.
• Analyze the current target market along with the marketplace section which is not consist of in the business's circle.
• Analyze the present financial information to determine the quantity that ought to be invested in the R&D and acquisitions.
• Examine the possible financiers and their nature, i.e. do they want long term advantages (capital gain), or the want early profits (dividend). It would let the business to understand that how much amount ought to be spent on R&D.
Mid Term Plan (1-5 years)
• Obtain those companies in which the business has prospective experience to handle. Obtain most favorable organizations with a strong commitment to health, to develop the consumer's perceptions in the right direction.
• Focus more on acquisitions than R&D to construct the base in the customer's mind about Focused Philanthropy The Steans Family Foundation North Lawndale Initiative values and vision and to prevent prospective danger of sunk cost.
Long Term Plan (1-10 years)
• Obtain companies with health along with taste element, as the base for the Focused Philanthropy The Steans Family Foundation North Lawndale Initiative as a business producing healthy items has been constructed under midterm strategy and now the business could move towards taste factor also to grasp the consumers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the substantial time to develop new items.
