With the deep analysis of the above options, it is suggested that the business should select the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would make it possible for the business to not just introduce new and ingenious products in the market it would likewise minimize the high expenses on R&D under alternative 2 and increase the earnings margins. It would enable the company to increase its share prices also, as investors want to invest more in companies with significant R&D costs and increase in the overall worth of the business.
Action and implementation Strategy
Strategy can be implemented successfully by establishing certain short term as well as long term plans. These plans might be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan Solar City Rapid Innovation Video ought to carry out different activities to execute its NHW technique effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brand names, which create most of its earnings.
• Evaluate the existing target audience as well as the market sector which is not include in the business's circle.
• Evaluate the current financial data to measure the quantity that should 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 want early earnings (dividend). It would let the business to know that how much quantity must be spent on R&D.
Mid Term Plan (1-5 years)
• Acquire those companies in which the business has possible experience to handle. Get most favorable organizations with a strong commitment to health, to build the customer's understandings in the ideal direction.
• Focus more on acquisitions than R&D to develop the base in the consumer's mind about Solar City Rapid Innovation Video worths and vision and to prevent prospective danger of sunk cost.
Long Term Plan (1-10 years)
• Acquire organizations with health along with taste factor, as the base for the Solar City Rapid Innovation Video as a company producing healthy items has been constructed under midterm plan and now the business could move towards taste aspect too to comprehend the consumers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the considerable time to develop new products.
