With the deep analysis of the above options, it is suggested that the business ought to choose the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would allow the business to not just introduce new and innovative items in the market it would likewise decrease the high expenditures on R&D under alternative 2 and increase the revenue margins. It would enable the business to increase its share rates too, as investors are willing to invest more in business with significant R&D costs and boost in the total worth of the company.
Action and implementation Strategy
Technique can be implemented efficiently by establishing particular short-term along with long term strategies. These plans might be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Workbrain Corporation should carry out numerous activities to implement its NHW strategy efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to analyze the core selling brands, which produce most of its profits.
• Analyze the present target market as well as the market sector which is not consist of in the company's circle.
• Analyze the current financial information to measure the quantity that ought 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 want early revenues (dividend). It would let the company to know that how much quantity must be spent on R&D.
Mid Term Plan (1-5 years)
• Acquire those companies in which the business has possible experience to deal with. Get most beneficial organizations with a strong commitment to health, to develop the consumer's understandings in the ideal direction.
• Focus more on acquisitions than R&D to develop the base in the customer's mind about Workbrain Corporation values and vision and to prevent potential risk of sunk expense.
Long Term Plan (1-10 years)
• Obtain organizations with health as well as taste aspect, as the base for the Workbrain Corporation as a company producing healthy items has actually been built under midterm strategy and now the business might move towards taste element too to understand the consumers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the considerable time to build brand-new products.
