With the deep analysis of the above options, it is advised that the business needs to select 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 new and innovative products in the market it would also decrease the high expenses on R&D under alternative 2 and increase the profit margins. It would allow the business to increase its share prices too, as financiers want to invest more in business with substantial R&D spending and increase in the total worth of the business.
Action and implementation Strategy
Strategy can be carried out efficiently by establishing particular short term as well as long term strategies. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short term plan Wilmont Chemical Corporation need to perform different activities to execute its NHW strategy effectively. These activities are as follows;.
• Get the audit of its brand name portfolio done, to examine the core selling brand names, which create the majority of its income.
• Examine the present target audience in addition to the marketplace section which is not consist of in the company's circle.
• Examine the existing financial information to measure the quantity that needs to be invested in the R&D and acquisitions.
• Evaluate the possible financiers and their nature, i.e. do they desire long term benefits (capital gain), or the desire early profits (dividend). It would let the company to know that how much quantity must be spent on R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the business has prospective experience to deal with. Get most favorable organizations with a strong commitment to health, to develop the client's perceptions in the ideal direction.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about Wilmont Chemical Corporation values and vision and to prevent prospective threat of sunk expense.
Long Term Plan (1-10 years)
• Acquire organizations with health as well as taste factor, as the base for the Wilmont Chemical Corporation as a business producing healthy products has been built under midterm strategy and now the business could move towards taste aspect as well to comprehend 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 develop new items.
