With the deep analysis of the above alternatives, it is recommended that the business should select 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 present brand-new and ingenious products in the market it would also reduce the high expenses on R&D under alternative 2 and increase the profit margins. It would make it possible for the company to increase its share rates also, as investors are willing to invest more in companies with considerable R&D spending and increase in the total worth of the company.
Action and implementation Strategy
Strategy can be carried out efficiently by establishing particular short-term as well as long term plans. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Biltwell Shears Inc ought to carry out different activities to execute its NHW method efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to analyze the core selling brand names, which create most of its income.
• Analyze the current target market in addition to the marketplace sector which is not consist of in the business's circle.
• Evaluate the current financial data to determine the quantity that must be invested in the R&D and acquisitions.
• Evaluate the prospective financiers and their nature, i.e. do they want long term advantages (capital gain), or the desire early revenues (dividend). It would let the business to understand that how much quantity should be spent on R&D.
Mid Term Plan (1-5 years)
• Acquire those organizations in which the company has prospective experience to deal with. Acquire most beneficial companies with a strong dedication to health, to build the consumer's perceptions in the best direction.
• Focus more on acquisitions than R&D to construct the base in the consumer's mind about Biltwell Shears Inc worths and vision and to prevent prospective risk of sunk cost.
Long Term Plan (1-10 years)
• Acquire companies with health as well as taste factor, as the base for the Biltwell Shears Inc as a business producing healthy products has been constructed under midterm plan and now the company could move towards taste aspect too to grasp the customers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to construct brand-new items.
