With the deep analysis of the above alternatives, it is suggested 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 allow the business to not only introduce new and innovative items in the market it would also reduce the high expenditures on R&D under alternative 2 and increase the earnings margins. It would allow the business to increase its share rates also, as investors are willing to invest more in business with significant R&D costs and increase in the overall worth of the company.
Action and implementation Strategy
Method can be carried out efficiently by developing specific short term along with long term plans. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Levuka Sport Fishing Inc ought to perform numerous activities to implement its NHW technique efficiently. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brand names, which generate the majority of its income.
• Evaluate the existing target audience as well as the marketplace sector which is not include in the business's circle.
• Examine the present financial data to measure the amount that should be invested in the R&D and acquisitions.
• Evaluate the possible investors 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 understand that how much quantity should be spent on R&D.
Mid Term Plan (1-5 years)
• Obtain those companies in which the company has potential experience to handle. Obtain most beneficial companies with a strong commitment to health, to construct the client's perceptions in the best instructions.
• Focus more on acquisitions than R&D to construct the base in the consumer's mind about Levuka Sport Fishing Inc values and vision and to prevent possible threat of sunk cost.
Long Term Plan (1-10 years)
• Get organizations with health as well as taste factor, as the base for the Levuka Sport Fishing Inc as a company producing healthy products has actually been developed under midterm plan and now the company might move towards taste element too 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 brand-new products.
