With the deep analysis of the above alternatives, it is recommended that the business needs to choose the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would allow the business to not just introduce new and ingenious products in the market it would likewise lower the high expenditures on R&D under alternative 2 and increase the profit margins. It would make it possible for the company to increase its share rates also, as financiers are willing to invest more in business with significant R&D costs and increase in the overall worth of the company.
Action and implementation Strategy
Strategy can be carried out efficiently by developing particular short term as well as long term strategies. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Murphy Stores Capital Projects must carry out different activities to execute its NHW strategy effectively. These activities are as follows;.
• Get the audit of its brand name portfolio done, to analyze the core selling brands, which produce the majority of its revenue.
• Examine the existing target audience along with the marketplace sector which is not include in the company's circle.
• Analyze the existing financial information to measure the quantity that needs to be spent on the R&D and acquisitions.
• Analyze the prospective financiers and their nature, i.e. do they want long term benefits (capital gain), or the want early earnings (dividend). It would let the business to understand that how much quantity must be spent on R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the company has possible experience to handle. Get most beneficial companies with a strong dedication to health, to build the customer's perceptions in the right direction.
• Focus more on acquisitions than R&D to construct the base in the consumer's mind about Murphy Stores Capital Projects values and vision and to prevent prospective danger of sunk cost.
Long Term Plan (1-10 years)
• Obtain organizations with health along with taste element, as the base for the Murphy Stores Capital Projects as a business producing healthy products has been built under midterm strategy and now the company could move towards taste aspect as well to understand the consumers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the substantial time to build brand-new products.
