With the deep analysis of the above options, it is suggested that the company needs to select the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would allow the company to not only introduce new and innovative items in the market it would likewise reduce the high expenses on R&D under alternative 2 and increase the revenue margins. It would make it possible for the business to increase its share rates too, as investors are willing to invest more in companies with considerable R&D spending and increase in the total worth of the business.
Action and implementation Strategy
Method can be implemented successfully by developing particular short-term in addition to long term plans. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan Band Of Angels need to perform numerous activities to implement its NHW technique efficiently. These activities are as follows;.
• Get the audit of its brand portfolio done, to analyze the core selling brands, which create most of its revenue.
• Evaluate the current target market as well as the marketplace section which is not consist of in the company's circle.
• Examine the existing financial information to determine the quantity that needs to be invested in the R&D and acquisitions.
• Evaluate 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 business to know that just how much amount should be spent on R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the company has possible experience to deal with. Obtain most beneficial organizations with a strong dedication to health, to build the client's perceptions in the best instructions.
• Focus more on acquisitions than R&D to construct the base in the customer's mind about Band Of Angels values and vision and to prevent prospective threat of sunk expense.
Long Term Plan (1-10 years)
• Get companies with health as well as taste factor, as the base for the Band Of Angels as a business producing healthy items has been developed under midterm strategy and now the company might move towards taste element 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 items.