With the deep analysis of the above options, it is suggested that the business needs to select the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would enable the business to not only introduce new and innovative items in the market it would also lower the high expenditures on R&D under alternative 2 and increase the earnings margins. It would enable the business to increase its share costs too, as financiers are willing to invest more in companies with substantial R&D costs and increase in the total worth of the business.
Action and implementation Strategy
Strategy can be implemented effectively by developing specific short term in addition to long term strategies. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Beta Golf should perform different activities to execute its NHW technique efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to examine the core selling brands, which produce most of its profits.
• Examine the existing target market along with the market section which is not include in the company's circle.
• Analyze the current financial data to determine the amount that needs to be spent on the R&D and acquisitions.
• Examine the possible financiers and their nature, i.e. do they want long term benefits (capital gain), or the desire early revenues (dividend). It would let the company to understand that just how much quantity should be spent on R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the company has potential experience to handle. Acquire most favorable companies with a strong dedication to health, to build the client's perceptions in the ideal direction.
• Focus more on acquisitions than R&D to construct the base in the customer's mind about Beta Golf values and vision and to avoid prospective danger of sunk cost.
Long Term Plan (1-10 years)
• Get companies with health as well as taste element, as the base for the Beta Golf as a company producing healthy products has been constructed under midterm plan and now the company might move towards taste factor as well to understand the customers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to construct brand-new products.
