With the deep analysis of the above options, it is advised that the business must pick 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 also lower the high expenses on R&D under alternative 2 and increase the profit margins. It would make it possible for the company to increase its share prices also, as investors want to invest more in companies with significant R&D spending and increase in the total worth of the business.
Action and implementation Strategy
Method can be carried out successfully by establishing specific short-term along with long term plans. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short term plan The Kursk Submarine Rescue Mission must perform numerous activities to implement its NHW strategy efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to examine the core selling brands, which produce most of its earnings.
• Examine the existing target audience in addition to the market sector which is not consist of in the business's circle.
• Evaluate the present financial data to measure the quantity that must be spent on the R&D and acquisitions.
• Evaluate the prospective financiers and their nature, i.e. do they desire long term benefits (capital gain), or the desire early revenues (dividend). It would let the business to know that how much quantity should be invested in R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the business has potential experience to deal with. Obtain most favorable organizations with a strong dedication to health, to build the customer's understandings in the ideal instructions.
• Focus more on acquisitions than R&D to develop the base in the consumer's mind about The Kursk Submarine Rescue Mission values and vision and to prevent possible danger of sunk cost.
Long Term Plan (1-10 years)
• Obtain organizations with health in addition to taste aspect, as the base for the The Kursk Submarine Rescue Mission as a business producing healthy items has been developed under midterm plan and now the business might move towards taste aspect also 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 considerable time to construct new products.
