With the deep analysis of the above alternatives, it is suggested that the business 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 brand-new and innovative products in the market it would likewise lower the high expenditures on R&D under alternative 2 and increase the revenue margins. It would allow the business to increase its share costs also, as financiers want to invest more in business with considerable R&D costs and increase in the overall worth of the business.
Action and implementation Strategy
Technique can be executed effectively by developing certain short term along with long term strategies. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan Owning The Right Risks need to carry out various activities to implement its NHW technique effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brand names, which produce most of its profits.
• Evaluate the current target audience along with the market section which is not consist of in the business's circle.
• Analyze the present financial information to measure the amount that must be spent on the R&D and acquisitions.
• Evaluate the potential financiers and their nature, i.e. do they want long term advantages (capital gain), or the want early earnings (dividend). It would let the company to understand that how much amount ought to be invested in R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the business has potential experience to deal with. Get most favorable organizations with a strong dedication to health, to construct the client's understandings in the right direction.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Owning The Right Risks values and vision and to prevent prospective threat of sunk expense.
Long Term Plan (1-10 years)
• Obtain organizations with health along with taste factor, as the base for the Owning The Right Risks as a business producing healthy items has actually been built under midterm strategy and now the business could move towards taste element also to understand the consumers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to construct brand-new products.
