With the deep analysis of the above alternatives, it is recommended that the business should pick the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would make it possible for the company to not just present new and innovative items in the market it would also decrease the high expenditures on R&D under alternative 2 and increase the earnings margins. It would allow the business to increase its share costs as well, as financiers are willing to invest more in companies with substantial R&D spending and boost in the total worth of the business.
Action and implementation Strategy
Method can be implemented effectively by establishing certain short-term along with long term strategies. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Canopy Growth Corporation Canada First And The World Next should carry out numerous activities to execute its NHW method efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to take a look at the core selling brand names, which generate the majority of its earnings.
• Evaluate the existing target market as well as the market sector which is not consist of in the company's circle.
• Examine the existing financial information to determine the amount that needs to be spent on the R&D and acquisitions.
• Analyze the potential investors and their nature, i.e. do they desire long term advantages (capital gain), or the want early profits (dividend). It would let the business to know that how much quantity must be spent on R&D.
Mid Term Plan (1-5 years)
• Acquire those organizations in which the company has possible experience to deal with. Get most favorable organizations with a strong commitment to health, to build the customer's understandings in the right direction.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Canopy Growth Corporation Canada First And The World Next values and vision and to prevent prospective risk of sunk cost.
Long Term Plan (1-10 years)
• Acquire companies with health along with taste factor, as the base for the Canopy Growth Corporation Canada First And The World Next as a company producing healthy products has actually been constructed under midterm plan and now the company might move towards taste factor too to comprehend 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 construct new items.
