With the deep analysis of the above alternatives, it is suggested that the company ought to choose the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would make it possible for the company to not just present new and ingenious products in the market it would also lower the high expenditures on R&D under alternative 2 and increase the revenue margins. It would enable the business to increase its share prices as well, as financiers want to invest more in business with considerable R&D costs and increase in the overall worth of the business.
Action and implementation Strategy
Strategy can be implemented efficiently by establishing certain short term along with long term plans. These plans might be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Citibanks Co Operative Strategy In China The Renminbi Debit Card should carry out various activities to execute its NHW method efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to examine the core selling brand names, which create most of its profits.
• Evaluate the existing target market in addition to the marketplace section which is not consist of in the business's circle.
• Examine the present financial information to measure the amount that needs to be spent on the R&D and acquisitions.
• Examine the prospective financiers and their nature, i.e. do they desire long term benefits (capital gain), or the desire early profits (dividend). It would let the business to understand that just how much amount should be spent on R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the company has prospective experience to handle. Obtain most favorable organizations with a strong dedication to health, to develop the consumer's perceptions in the ideal direction.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about Citibanks Co Operative Strategy In China The Renminbi Debit Card values and vision and to prevent prospective threat of sunk cost.
Long Term Plan (1-10 years)
• Obtain organizations with health along with taste aspect, as the base for the Citibanks Co Operative Strategy In China The Renminbi Debit Card as a business producing healthy items has been built under midterm strategy and now the company could move towards taste element as well 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 significant time to build new products.
