With the deep analysis of the above options, it is recommended that the business ought 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 present new and innovative products in the market it would also reduce the high expenses on R&D under alternative 2 and increase the profit margins. It would allow the company to increase its share costs too, as financiers are willing to invest more in business with significant R&D spending and boost in the overall worth of the business.
Action and implementation Strategy
Technique can be implemented successfully by establishing certain short term along with long term plans. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Renault Trucks Remanufacturing As A Strategic Activity ought to carry out numerous activities to implement its NHW strategy efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to analyze the core selling brands, which create the majority of its profits.
• Evaluate the existing target audience along with the market segment which is not consist of in the business's circle.
• Analyze the existing financial data to measure the amount that should be invested in the R&D and acquisitions.
• Analyze the prospective financiers and their nature, i.e. do they desire long term benefits (capital gain), or the desire early profits (dividend). It would let the company to know that how much quantity needs to be invested in R&D.
Mid Term Plan (1-5 years)
• Acquire those companies in which the business has prospective experience to handle. Acquire most beneficial organizations with a strong commitment to health, to build the customer's perceptions in the ideal direction.
• Focus more on acquisitions than R&D to develop the base in the consumer's mind about Renault Trucks Remanufacturing As A Strategic Activity worths and vision and to prevent possible threat of sunk expense.
Long Term Plan (1-10 years)
• Obtain organizations with health in addition to taste element, as the base for the Renault Trucks Remanufacturing As A Strategic Activity as a business producing healthy items has actually been built under midterm strategy and now the company could move towards taste factor too to comprehend 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 construct brand-new products.
