With the deep analysis of the above options, it is suggested that the business ought to select the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would allow the company to not only present brand-new and innovative products in the market it would likewise lower the high expenses on R&D under alternative 2 and increase the revenue margins. It would make it possible for the company to increase its share prices too, as investors want to invest more in business with significant R&D costs and increase in the total worth of the business.
Action and implementation Strategy
Technique can be implemented successfully by developing certain short-term in addition to long term strategies. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short term plan Competing Through Joint Innovation must carry out various activities to execute its NHW strategy effectively. These activities are as follows;.
• Get the audit of its brand name portfolio done, to take a look at the core selling brand names, which produce most of its income.
• Analyze the present target market as well as the market section which is not include in the company's circle.
• Evaluate the existing financial data to measure the quantity that must be spent on the R&D and acquisitions.
• Examine the potential investors and their nature, i.e. do they want long term benefits (capital gain), or the want early revenues (dividend). It would let the business to understand that how much amount should be spent on R&D.
Mid Term Plan (1-5 years)
• Acquire those organizations in which the business has possible experience to handle. Acquire most beneficial companies with a strong dedication to health, to develop the consumer's understandings in the best instructions.
• Focus more on acquisitions than R&D to construct the base in the customer's mind about Competing Through Joint Innovation values and vision and to prevent potential risk of sunk cost.
Long Term Plan (1-10 years)
• Acquire companies with health in addition to taste aspect, as the base for the Competing Through Joint Innovation as a company producing healthy products has been developed under midterm plan and now the business could move towards taste aspect also to grasp the consumers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the substantial time to construct new items.
