With the deep analysis of the above options, it is advised that the business must pick the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would make it possible for the business to not only introduce new and ingenious items in the market it would also minimize the high expenses on R&D under alternative 2 and increase the profit margins. It would allow the business to increase its share costs too, as financiers want to invest more in business with considerable R&D spending and boost in the overall worth of the business.
Action and implementation Strategy
Strategy can be carried out efficiently by establishing certain 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 Molecular Insight Pharmaceuticals Inc need to perform different activities to execute 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 income.
• Evaluate the current target market in addition to the marketplace segment which is not consist of in the business's circle.
• Evaluate the current financial information to determine the amount that must be spent on the R&D and acquisitions.
• Analyze the prospective financiers and their nature, i.e. do they desire long term benefits (capital gain), or the want early profits (dividend). It would let the company to understand that just how much amount needs to be invested in R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the company has potential experience to handle. Acquire most favorable organizations with a strong commitment to health, to develop the consumer's understandings in the right direction.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Molecular Insight Pharmaceuticals Inc worths and vision and to prevent potential threat of sunk cost.
Long Term Plan (1-10 years)
• Obtain organizations with health along with taste element, as the base for the Molecular Insight Pharmaceuticals Inc as a business producing healthy products has actually been built under midterm plan and now the business could move towards taste aspect also to comprehend 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 construct new items.
