With the deep analysis of the above alternatives, it is recommended that the business must select the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would enable the business 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 revenue margins. It would allow the business to increase its share prices as well, as financiers are willing to invest more in companies with considerable R&D costs and increase in the overall worth of the business.
Action and implementation Strategy
Strategy can be implemented effectively by developing certain short term in addition to long term strategies. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan Chick Fil A ought to perform different activities to execute its NHW technique effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to take a look at the core selling brand names, which generate the majority of its income.
• Examine the existing target market in addition to the marketplace sector which is not consist of in the business's circle.
• Analyze the current financial information to determine the quantity that should be spent on the R&D and acquisitions.
• Analyze the prospective financiers and their nature, i.e. do they desire long term advantages (capital gain), or the want early profits (dividend). It would let the company to know that how much amount needs to be invested in R&D.
Mid Term Plan (1-5 years)
• Acquire those organizations in which the business has possible experience to handle. Acquire most favorable companies with a strong dedication to health, to build the customer's perceptions in the ideal direction.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about Chick Fil A values and vision and to prevent potential danger of sunk expense.
Long Term Plan (1-10 years)
• Get organizations with health in addition to taste aspect, as the base for the Chick Fil A as a business producing healthy products has actually been developed under midterm plan and now the company might move towards taste aspect also to comprehend the customers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to develop brand-new products.
