With the deep analysis of the above alternatives, it is advised that the company must select the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would enable the business to not just introduce new and innovative products in the market it would also minimize the high expenditures on R&D under alternative 2 and increase the revenue margins. It would make it possible for the company to increase its share rates also, as investors are willing 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 carried out effectively by establishing 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 strategy Converse Health System ought to carry out various activities to implement its NHW technique efficiently. 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 generate most of its profits.
• Evaluate the present target audience in addition to the market segment which is not include in the company's circle.
• Analyze the current financial information to measure the quantity that must be spent on the R&D and acquisitions.
• Examine the prospective investors and their nature, i.e. do they want long term benefits (capital gain), or the want early earnings (dividend). It would let the company to understand that just how much quantity ought to be invested in R&D.
Mid Term Plan (1-5 years)
• Obtain those organizations in which the business has potential experience to handle. Obtain most favorable organizations with a strong dedication to health, to construct the customer's understandings in the ideal direction.
• Focus more on acquisitions than R&D to develop the base in the customer's mind about Converse Health System values and vision and to avoid potential danger of sunk expense.
Long Term Plan (1-10 years)
• Acquire organizations with health as well as taste factor, as the base for the Converse Health System as a company producing healthy items has actually been constructed under midterm strategy and now the company could move towards taste factor too to understand the consumers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to construct new products.
