With the deep analysis of the above options, it is recommended that the company needs to pick the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would make it possible for the business to not just introduce new and ingenious items in the market it would likewise lower the high expenses on R&D under alternative 2 and increase the profit margins. It would allow the business to increase its share rates too, as financiers want to invest more in business with substantial R&D spending and boost in the overall worth of the business.
Action and implementation Strategy
Strategy can be executed successfully by establishing particular short term in addition to long term strategies. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Community Medical Imaging need to carry out different activities to execute its NHW strategy efficiently. These activities are as follows;.
• Get the audit of its brand portfolio done, to analyze the core selling brand names, which generate most of its income.
• Examine the present target audience as well as the market segment which is not include in the company's circle.
• Analyze the current financial data to determine the quantity that ought to be invested in the R&D and acquisitions.
• Analyze the prospective investors and their nature, i.e. do they want long term benefits (capital gain), or the desire early earnings (dividend). It would let the business to understand that how much quantity must be invested in R&D.
Mid Term Plan (1-5 years)
• Acquire those organizations in which the business has possible experience to deal with. Obtain most beneficial organizations with a strong dedication to health, to develop the client's understandings in the ideal instructions.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Community Medical Imaging values and vision and to avoid potential threat of sunk expense.
Long Term Plan (1-10 years)
• Get companies with health along with taste aspect, as the base for the Community Medical Imaging as a business producing healthy products has been constructed under midterm strategy and now the business could move towards taste element as well 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 substantial time to develop new products.
