With the deep analysis of the above options, it is advised that the business needs to pick the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would allow the company to not only introduce brand-new and innovative products in the market it would likewise minimize the high expenditures on R&D under alternative 2 and increase the earnings margins. It would make it possible for the business to increase its share rates also, as investors are willing to invest more in companies with significant R&D spending and increase in the overall worth of the business.
Action and implementation Strategy
Method can be implemented successfully by developing specific short-term as well as long term plans. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short term plan The Healthcaregov Project need to carry out different activities to execute its NHW strategy efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to examine the core selling brands, which create the majority of its income.
• Evaluate the existing target market along with the market section which is not include in the company's circle.
• Analyze the present financial information to measure the amount that must be invested in the R&D and acquisitions.
• Analyze the possible financiers and their nature, i.e. do they want long term benefits (capital gain), or the want early profits (dividend). It would let the company to understand that just how much amount needs to be spent on R&D.
Mid Term Plan (1-5 years)
• Obtain those organizations in which the company has prospective experience to handle. Obtain most beneficial organizations with a strong dedication to health, to construct the customer's perceptions in the ideal direction.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about The Healthcaregov Project worths and vision and to prevent possible threat of sunk cost.
Long Term Plan (1-10 years)
• Get companies with health along with taste factor, as the base for the The Healthcaregov Project as a company producing healthy items has actually been developed under midterm strategy and now the business could move towards taste factor too to comprehend the consumers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the considerable time to construct new items.