With the deep analysis of the above alternatives, it is recommended that the business ought to choose the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would enable the business to not just introduce new and ingenious items in the market it would likewise decrease the high expenses on R&D under alternative 2 and increase the profit margins. It would allow the company to increase its share rates too, as investors are willing to invest more in business with considerable R&D costs and boost in the total worth of the company.
Action and implementation Strategy
Method can be carried out effectively by developing certain short term along with long term strategies. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Linking The Balanced Scorecard To Strategy should perform numerous activities to execute its NHW method effectively. These activities are as follows;.
• Get the audit of its brand name portfolio done, to take a look at the core selling brands, which produce most of its revenue.
• Analyze the present target market in addition to the market sector which is not include in the company's circle.
• Evaluate the existing financial information to determine the amount that should be invested in the R&D and acquisitions.
• Evaluate the possible investors and their nature, i.e. do they want long term benefits (capital gain), or the desire early earnings (dividend). It would let the company to understand that how much quantity must be invested in R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the company has possible experience to deal with. Get most beneficial companies with a strong commitment to health, to develop the customer's perceptions in the best direction.
• Focus more on acquisitions than R&D to construct the base in the consumer's mind about Linking The Balanced Scorecard To Strategy worths and vision and to prevent possible risk of sunk cost.
Long Term Plan (1-10 years)
• Obtain organizations with health as well as taste factor, as the base for the Linking The Balanced Scorecard To Strategy as a company producing healthy products has been built under midterm plan and now the company might 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 substantial time to construct new items.
