With the deep analysis of the above options, it is suggested 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 make it possible for the business to not just present new and ingenious products in the market it would also reduce the high expenditures on R&D under alternative 2 and increase the profit margins. It would enable the company to increase its share costs too, as investors want to invest more in business with considerable R&D costs and boost in the overall worth of the business.
Action and implementation Strategy
Technique can be carried out effectively by developing certain short term along with long term plans. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan The Clonlara Hotel must perform different activities to execute its NHW strategy effectively. These activities are as follows;.
• Get the audit of its brand name portfolio done, to analyze the core selling brand names, which create most of its earnings.
• Examine the existing target market along with the market section which is not consist of in the company's circle.
• Analyze the current financial information to measure the amount that should be invested in the R&D and acquisitions.
• Examine the prospective financiers and their nature, i.e. do they desire long term advantages (capital gain), or the want early revenues (dividend). It would let the business to know that just how much amount ought to be invested in R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the business has possible experience to handle. Get most favorable companies with a strong commitment to health, to construct the client's perceptions in the right direction.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about The Clonlara Hotel values and vision and to prevent potential risk of sunk cost.
Long Term Plan (1-10 years)
• Get organizations with health as well as taste aspect, as the base for the The Clonlara Hotel as a company producing healthy items has been built under midterm plan and now the company could move towards taste factor as well to understand the customers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to construct new items.
