With the deep analysis of the above alternatives, it is suggested that the company must choose 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 only present new and ingenious products in the market it would likewise minimize the high expenses on R&D under alternative 2 and increase the profit margins. It would enable the business to increase its share costs also, as financiers want to invest more in business with considerable R&D costs and increase in the total worth of the business.
Action and implementation Strategy
Method can be implemented successfully by establishing specific short-term in addition to long term plans. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Verizon Communications Inc Implementing A Human Resources Balanced Scorecard must perform numerous activities to execute 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 earnings.
• Analyze the present target market as well as the market section which is not consist of in the company's circle.
• Analyze the current financial information to measure the quantity that should be spent on the R&D and acquisitions.
• Examine the potential investors and their nature, i.e. do they desire long term advantages (capital gain), or the want early revenues (dividend). It would let the company to understand that how much amount must be spent on R&D.
Mid Term Plan (1-5 years)
• Acquire those companies in which the company has prospective experience to deal with. Obtain most favorable organizations with a strong dedication to health, to develop the client's perceptions in the right direction.
• Focus more on acquisitions than R&D to develop the base in the consumer's mind about Verizon Communications Inc Implementing A Human Resources Balanced Scorecard worths and vision and to prevent prospective threat of sunk cost.
Long Term Plan (1-10 years)
• Get companies with health in addition to taste element, as the base for the Verizon Communications Inc Implementing A Human Resources Balanced Scorecard as a business producing healthy products has actually been constructed under midterm plan and now the company could move towards taste element also to understand the consumers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the substantial time to develop brand-new items.
