With the deep analysis of the above options, it is recommended that the company must select the alternative 3 in order to keep 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 allow the company to increase its share prices as well, as investors want to invest more in companies with significant R&D spending and increase in the overall worth of the business.
Action and implementation Strategy
Strategy can be executed successfully by establishing 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 strategy Judy Wicks A should carry out different activities to execute its NHW strategy efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to analyze the core selling brand names, which create most of its earnings.
• Evaluate the existing target audience in addition to the market section which is not consist of in the company's circle.
• Evaluate the present financial data to determine the amount that should be invested in the R&D and acquisitions.
• Evaluate the possible financiers and their nature, i.e. do they desire long term benefits (capital gain), or the desire early profits (dividend). It would let the company to know that just how much amount should be spent on R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the business has prospective experience to deal with. Acquire most beneficial organizations with a strong commitment to health, to construct the customer's understandings in the best direction.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about Judy Wicks A values and vision and to avoid prospective danger of sunk expense.
Long Term Plan (1-10 years)
• Get companies with health in addition to taste element, as the base for the Judy Wicks A as a company producing healthy items has been constructed under midterm plan and now the company could move towards taste aspect 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 considerable time to build new items.
