With the deep analysis of the above alternatives, it is recommended that the company needs to select the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would enable the business to not just present new and innovative products in the market it would likewise decrease 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 also, as financiers want to invest more in business with substantial R&D costs and boost in the total worth of the company.
Action and implementation Strategy
Method can be carried out effectively by developing particular short term as well as long term strategies. These plans might be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Ho Tak Kee Book Co Ltd A Third Generation At A Crossroads A need to perform numerous activities to execute its NHW method effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to analyze the core selling brands, which produce the majority of its revenue.
• Evaluate the existing target market in addition to the marketplace sector which is not include in the company's circle.
• Analyze the present financial information to measure the amount that must be spent on the R&D and acquisitions.
• Analyze the possible financiers and their nature, i.e. do they desire long term benefits (capital gain), or the want early revenues (dividend). It would let the business to understand that how much amount must be spent on R&D.
Mid Term Plan (1-5 years)
• Acquire those organizations in which the company has possible experience to handle. Obtain most beneficial organizations with a strong commitment to health, to build the customer's understandings in the ideal instructions.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Ho Tak Kee Book Co Ltd A Third Generation At A Crossroads A worths and vision and to prevent potential danger of sunk expense.
Long Term Plan (1-10 years)
• Get companies with health in addition to taste factor, as the base for the Ho Tak Kee Book Co Ltd A Third Generation At A Crossroads A as a business producing healthy items has been constructed under midterm strategy and now the company could move towards taste aspect as well 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 substantial time to develop brand-new products.
