With the deep analysis of the above options, it is advised that the business needs to select the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would enable the company to not only introduce new and ingenious products in the market it would likewise decrease the high expenditures on R&D under alternative 2 and increase the revenue margins. It would enable the company to increase its share rates also, as financiers are willing to invest more in companies with significant R&D spending and boost in the overall worth of the company.
Action and implementation Strategy
Technique can be carried out successfully by developing specific short-term as well as long term strategies. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short term plan The Scotts Company B Developing A Supply Chain Balanced Scorecard ought to perform different activities to implement its NHW method effectively. These activities are as follows;.
• Get the audit of its brand name portfolio done, to analyze the core selling brands, which create most of its profits.
• Evaluate the present target audience as well as the marketplace sector which is not consist of in the company's circle.
• Examine the existing financial information to determine the amount that must be spent on the R&D and acquisitions.
• Analyze the potential financiers and their nature, i.e. do they desire long term benefits (capital gain), or the want early revenues (dividend). It would let the company to know that just how much quantity should be spent on R&D.
Mid Term Plan (1-5 years)
• Acquire those companies in which the company has potential experience to deal with. Get most beneficial organizations with a strong commitment to health, to construct the client's perceptions in the best direction.
• Focus more on acquisitions than R&D to construct the base in the customer's mind about The Scotts Company B Developing A Supply Chain Balanced Scorecard worths and vision and to prevent prospective risk of sunk expense.
Long Term Plan (1-10 years)
• Get companies with health in addition to taste factor, as the base for the The Scotts Company B Developing A Supply Chain Balanced Scorecard as a business producing healthy products has been developed under midterm strategy and now the business could move towards taste aspect also 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 significant time to develop new products.
