With the deep analysis of the above alternatives, it is advised that the business ought to select the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would make it possible for the business to not just introduce brand-new and innovative products in the market it would also reduce the high expenditures on R&D under alternative 2 and increase the profit margins. It would make it possible for the business to increase its share costs too, as investors are willing to invest more in business with substantial R&D spending and boost in the total worth of the business.
Action and implementation Strategy
Technique can be executed efficiently by establishing particular short-term as well as long term strategies. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Ethics In Practice ought to perform different activities to execute its NHW technique 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 existing target audience along with the marketplace section which is not include in the business's circle.
• Examine the present financial information to measure the quantity that ought to be spent on the R&D and acquisitions.
• Examine the potential investors and their nature, i.e. do they desire long term advantages (capital gain), or the desire early profits (dividend). It would let the company to understand that how much amount must be spent on R&D.
Mid Term Plan (1-5 years)
• Obtain those companies in which the business has prospective experience to deal with. Acquire most beneficial organizations with a strong commitment to health, to develop the customer's understandings in the best instructions.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Ethics In Practice values and vision and to prevent prospective threat of sunk expense.
Long Term Plan (1-10 years)
• Acquire organizations with health as well as taste element, as the base for the Ethics In Practice as a business producing healthy items has been constructed under midterm plan and now the business might move towards taste factor also to comprehend the consumers, 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 new items.
