With the deep analysis of the above alternatives, it is advised that the business needs to select the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would enable the company to not only introduce brand-new and innovative items in the market it would also minimize the high expenses on R&D under alternative 2 and increase the profit margins. It would enable the business to increase its share costs too, as investors are willing to invest more in companies with substantial R&D costs and boost in the total worth of the company.
Action and implementation Strategy
Strategy can be executed efficiently by establishing particular short-term as well as long term plans. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short term plan Jim Poss need to carry out different activities to implement 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 revenue.
• Analyze the current target audience along with the market section which is not include in the company's circle.
• Analyze the current financial data to measure the amount that needs to be spent on the R&D and acquisitions.
• Evaluate the prospective investors and their nature, i.e. do they want long term benefits (capital gain), or the desire early profits (dividend). It would let the company to understand that just how much quantity should be invested in R&D.
Mid Term Plan (1-5 years)
• Obtain those companies in which the company has possible experience to handle. Get most beneficial organizations with a strong dedication to health, to develop 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 Jim Poss worths and vision and to avoid possible threat of sunk expense.
Long Term Plan (1-10 years)
• Obtain organizations with health in addition to taste aspect, as the base for the Jim Poss as a company producing healthy products has actually been built under midterm strategy and now the business might move towards taste factor as well to grasp the customers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the considerable time to build brand-new products.
