With the deep analysis of the above alternatives, it is recommended that the business needs to choose the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would allow the company to not only present new and innovative products in the market it would likewise decrease the high expenses on R&D under alternative 2 and increase the revenue margins. It would allow the business to increase its share prices too, as investors want to invest more in business with significant R&D costs and boost in the overall worth of the business.
Action and implementation Strategy
Strategy can be executed effectively by developing specific short term along with long term plans. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Striker Corporation need to perform numerous activities to implement its NHW technique effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brand names, which produce most of its revenue.
• Evaluate the current target audience along with the market segment which is not include in the company's circle.
• Analyze the present financial information to measure the amount that ought to be invested in the R&D and acquisitions.
• Examine the possible financiers and their nature, i.e. do they want long term benefits (capital gain), or the want early profits (dividend). It would let the company to understand that how much quantity ought to be invested in R&D.
Mid Term Plan (1-5 years)
• Acquire those organizations in which the company has possible experience to handle. Obtain most favorable companies with a strong dedication to health, to build the client's understandings in the best direction.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about Striker Corporation values and vision and to avoid possible threat of sunk expense.
Long Term Plan (1-10 years)
• Acquire companies with health as well as taste aspect, as the base for the Striker Corporation as a company producing healthy items has actually been built under midterm plan and now the business could move towards taste factor as well to understand the consumers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the considerable time to construct brand-new items.
