With the deep analysis of the above options, it is advised that the business needs 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 brand-new and innovative products in the market it would also lower the high expenditures on R&D under alternative 2 and increase the earnings margins. It would allow the company to increase its share costs too, as investors are willing to invest more in business with substantial R&D spending and increase in the overall worth of the business.
Action and implementation Strategy
Method can be executed effectively by establishing specific short term in addition to long term strategies. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan Snow Canyon Resort Paradise Ski Lift ought to perform different activities to execute its NHW strategy efficiently. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brand names, which generate most of its earnings.
• Analyze the existing target audience along with the marketplace sector which is not include in the company's circle.
• Analyze the current financial data to measure the amount that needs to be spent on the R&D and acquisitions.
• Evaluate the prospective investors and their nature, i.e. do they desire long term benefits (capital gain), or the desire early revenues (dividend). It would let the company to know that how much amount must be spent on R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the company has possible experience to deal with. Obtain most beneficial companies with a strong dedication to health, to construct the consumer's perceptions in the best instructions.
• Focus more on acquisitions than R&D to construct the base in the customer's mind about Snow Canyon Resort Paradise Ski Lift values and vision and to prevent prospective risk of sunk cost.
Long Term Plan (1-10 years)
• Get organizations with health in addition to taste aspect, as the base for the Snow Canyon Resort Paradise Ski Lift as a business producing healthy items has been built under midterm plan and now the company might move towards taste aspect too to comprehend the customers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the considerable time to build brand-new items.
