With the deep analysis of the above options, it is advised that the business must pick the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would make it possible for the company to not just introduce brand-new and innovative products in the market it would likewise reduce the high expenditures on R&D under alternative 2 and increase the profit margins. It would make it possible for the company to increase its share costs also, as investors want to invest more in business with considerable R&D costs and boost in the overall worth of the company.
Action and implementation Strategy
Strategy can be executed successfully by developing specific 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 Texas Gulf Sulphur The Timmins Ontario Mine should carry out various activities to execute its NHW technique efficiently. 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 create most of its profits.
• Analyze the current target market as well as the marketplace sector which is not include in the company's circle.
• Examine the existing financial data to measure the amount that should be spent on the R&D and acquisitions.
• Evaluate the potential investors and their nature, i.e. do they want long term advantages (capital gain), or the desire early revenues (dividend). It would let the business to know that how much amount ought to be spent on R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the business has prospective experience to handle. Acquire most favorable companies with a strong dedication to health, to develop the customer's perceptions in the ideal direction.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about Texas Gulf Sulphur The Timmins Ontario Mine values and vision and to prevent possible danger of sunk expense.
Long Term Plan (1-10 years)
• Acquire companies with health along with taste aspect, as the base for the Texas Gulf Sulphur The Timmins Ontario Mine as a business producing healthy products has been developed under midterm plan and now the business might move towards taste factor as well to understand the customers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the substantial time to build brand-new items.
