With the deep analysis of the above options, it is suggested that the company needs to choose the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would make it possible for the company to not only introduce new and innovative products in the market it would also minimize the high expenditures on R&D under alternative 2 and increase the revenue margins. It would make it possible for the company to increase its share rates as well, as financiers want to invest more in companies with significant R&D spending and boost in the overall worth of the business.
Action and implementation Strategy
Technique can be implemented successfully by developing specific short term as well as long term plans. These plans might be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy The Unfinished Agenda Dr Reddys Laboratories Ltd ought to carry out numerous activities to execute 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 produce the majority of its revenue.
• Evaluate the existing target audience in addition to the market section which is not consist of in the company's circle.
• Evaluate the present financial data to measure the amount that ought to be spent on the R&D and acquisitions.
• Evaluate the prospective investors and their nature, i.e. do they desire long term advantages (capital gain), or the want early earnings (dividend). It would let the company to understand that just how much amount should be invested in R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the business has prospective experience to deal with. Get most beneficial organizations with a strong dedication to health, to build the customer's perceptions in the best direction.
• Focus more on acquisitions than R&D to build the base in the customer's mind about The Unfinished Agenda Dr Reddys Laboratories Ltd values and vision and to avoid possible danger of sunk expense.
Long Term Plan (1-10 years)
• Obtain companies with health in addition to taste element, as the base for the The Unfinished Agenda Dr Reddys Laboratories Ltd as a company producing healthy items has been constructed under midterm strategy and now the business could move towards taste factor also to understand the customers, 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 new products.
