With the deep analysis of the above options, it is advised that the company ought to 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 products in the market it would also lower 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 costs too, as investors are willing to invest more in companies with considerable R&D costs and increase in the overall worth of the company.
Action and implementation Strategy
Strategy can be executed successfully by developing specific short term in addition to long term strategies. These plans might be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan From Phones To Loans Is Now The Time For Virgin Money Canada must carry out numerous activities to execute its NHW technique 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 generate most of its earnings.
• Examine the existing target audience in addition to the market sector which is not consist of in the company's circle.
• Analyze the current financial data to determine the quantity that needs to be invested in the R&D and acquisitions.
• Evaluate the prospective financiers and their nature, i.e. do they desire long term advantages (capital gain), or the desire early revenues (dividend). It would let the company to understand that how much amount should be invested in R&D.
Mid Term Plan (1-5 years)
• Acquire those organizations in which the company has possible experience to deal with. Obtain most favorable companies with a strong commitment to health, to develop the customer's perceptions in the right direction.
• Focus more on acquisitions than R&D to develop the base in the customer's mind about From Phones To Loans Is Now The Time For Virgin Money Canada values and vision and to prevent possible danger of sunk expense.
Long Term Plan (1-10 years)
• Acquire organizations with health as well as taste factor, as the base for the From Phones To Loans Is Now The Time For Virgin Money Canada as a company producing healthy products has actually been developed under midterm strategy and now the business might move towards taste factor 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 significant time to build new products.
