With the deep analysis of the above alternatives, it is suggested that the company should choose the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would enable the company to not only introduce new and innovative products in the market it would also lower the high expenses on R&D under alternative 2 and increase the profit margins. It would allow the company to increase its share rates as well, as financiers are willing to invest more in companies with considerable R&D spending and increase in the overall worth of the business.
Action and implementation Strategy
Strategy can be carried out 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 Sun Life Financial Entering China need to perform numerous activities to implement its NHW strategy effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brand names, which generate the majority of its revenue.
• Evaluate the current target market as well as the marketplace section which is not include in the company's circle.
• Evaluate the present financial data to measure the quantity that ought to be invested in the R&D and acquisitions.
• Examine the possible financiers and their nature, i.e. do they desire long term benefits (capital gain), or the want early profits (dividend). It would let the business to understand that just how much quantity ought to be spent on R&D.
Mid Term Plan (1-5 years)
• Obtain those companies in which the company has potential experience to handle. Obtain most favorable companies with a strong dedication to health, to develop the consumer's understandings in the best direction.
• Focus more on acquisitions than R&D to develop the base in the consumer's mind about Sun Life Financial Entering China worths and vision and to avoid possible danger of sunk expense.
Long Term Plan (1-10 years)
• Get organizations with health in addition to taste aspect, as the base for the Sun Life Financial Entering China as a company producing healthy items has been constructed under midterm strategy and now the business might move towards taste factor 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 build brand-new items.
