With the deep analysis of the above options, it is suggested that the company must choose the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would make it possible for the company to not only present brand-new and ingenious items in the market it would also decrease the high expenditures on R&D under alternative 2 and increase the profit margins. It would enable the business to increase its share prices too, as investors are willing to invest more in business with substantial R&D spending and increase in the total worth of the business.
Action and implementation Strategy
Strategy can be implemented efficiently by developing specific short-term as well as long term strategies. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan Dubailand Destination Dubai must perform numerous activities to implement its NHW technique efficiently. These activities are as follows;.
• Get the audit of its brand portfolio done, to take a look at the core selling brand names, which produce most of its revenue.
• Examine the current target audience along with the market section which is not include in the business's circle.
• Analyze the present financial information to determine the amount that needs to be invested in the R&D and acquisitions.
• Evaluate the potential investors and their nature, i.e. do they want long term advantages (capital gain), or the want early revenues (dividend). It would let the business to understand that just how much quantity needs to be invested in R&D.
Mid Term Plan (1-5 years)
• Acquire those companies in which the company has possible experience to handle. Acquire most favorable organizations with a strong commitment to health, to build the client's understandings in the best instructions.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Dubailand Destination Dubai values and vision and to avoid prospective danger of sunk cost.
Long Term Plan (1-10 years)
• Obtain companies with health along with taste element, as the base for the Dubailand Destination Dubai as a company producing healthy items has been developed under midterm strategy and now the business might move towards taste element also to comprehend the consumers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the considerable time to develop brand-new products.
