With the deep analysis of the above alternatives, it is recommended that the company must pick 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 introduce new and ingenious products in the market it would likewise lower the high expenses on R&D under alternative 2 and increase the earnings margins. It would enable the company to increase its share costs also, as financiers want to invest more in business with significant R&D costs and increase in the overall worth of the business.
Action and implementation Strategy
Strategy can be executed successfully by developing particular short term along with long term plans. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Sippican Corporation A Chinese Version need to perform various activities to execute its NHW strategy effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to analyze the core selling brand names, which produce the majority of its income.
• Analyze the current target audience in addition to the market section which is not consist of in the business's circle.
• Analyze the present financial information to determine the quantity that must be spent on the R&D and acquisitions.
• Examine the possible financiers and their nature, i.e. do they desire long term advantages (capital gain), or the desire early earnings (dividend). It would let the business to know that how much amount must be invested in R&D.
Mid Term Plan (1-5 years)
• Acquire those organizations in which the company has prospective experience to deal with. Obtain most beneficial companies with a strong commitment to health, to develop the consumer's perceptions in the right direction.
• Focus more on acquisitions than R&D to develop the base in the consumer's mind about Sippican Corporation A Chinese Version values and vision and to avoid potential danger of sunk expense.
Long Term Plan (1-10 years)
• Get organizations with health in addition to taste factor, as the base for the Sippican Corporation A Chinese Version as a company producing healthy products has been built under midterm strategy and now the company might move towards taste factor too 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 construct new items.
