With the deep analysis of the above alternatives, it is advised that the company needs to pick the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would allow the business to not only introduce new and ingenious products in the market it would also minimize the high expenditures on R&D under alternative 2 and increase the profit margins. It would make it possible for the business to increase its share prices too, as financiers are willing to invest more in business with substantial R&D spending and boost in the overall worth of the company.
Action and implementation Strategy
Strategy can be carried out successfully by developing specific short-term along with long term plans. These plans might be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Contract Manufacturing Dealing With Supply Chain Ethics Challenges should carry out various activities to implement its NHW strategy effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to take a look at the core selling brands, which generate most of its profits.
• Examine the existing target market in addition to the marketplace sector which is not consist of in the company's circle.
• Analyze the existing financial data to determine the quantity that must be spent on the R&D and acquisitions.
• Analyze the possible financiers and their nature, i.e. do they want long term advantages (capital gain), or the desire early profits (dividend). It would let the business to know that just how much quantity should be spent on R&D.
Mid Term Plan (1-5 years)
• Acquire those companies in which the business has prospective experience to deal with. Get most beneficial companies with a strong commitment to health, to build the customer's understandings in the ideal instructions.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about Contract Manufacturing Dealing With Supply Chain Ethics Challenges worths and vision and to avoid possible risk of sunk expense.
Long Term Plan (1-10 years)
• Get companies with health as well as taste element, as the base for the Contract Manufacturing Dealing With Supply Chain Ethics Challenges as a company producing healthy items has actually been developed under midterm strategy and now the business could move towards taste factor too 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 brand-new products.
