With the deep analysis of the above options, it is suggested that the company needs to choose the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would allow the business to not just introduce new and innovative items in the market it would also lower the high expenditures on R&D under alternative 2 and increase the earnings margins. It would make it possible for the business to increase its share prices also, as financiers are willing to invest more in companies with substantial R&D costs and boost in the total worth of the business.
Action and implementation Strategy
Strategy can be carried out successfully by establishing certain short-term in addition to long term strategies. These plans might be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Dollar Thrifty Automotive Group Online Discounting should carry out numerous activities to execute its NHW technique effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brands, which generate most of its revenue.
• Evaluate the present target market along with the marketplace section which is not consist of in the company's circle.
• Analyze the present financial information to determine the amount that needs to be invested in the R&D and acquisitions.
• Examine the potential investors and their nature, i.e. do they want long term advantages (capital gain), or the desire early revenues (dividend). It would let the business to understand that how much quantity ought to be invested in R&D.
Mid Term Plan (1-5 years)
• Obtain those organizations in which the business has possible experience to handle. Get most favorable companies with a strong commitment to health, to develop the client's perceptions in the best direction.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Dollar Thrifty Automotive Group Online Discounting values and vision and to prevent possible risk of sunk cost.
Long Term Plan (1-10 years)
• Obtain organizations with health in addition to taste element, as the base for the Dollar Thrifty Automotive Group Online Discounting as a company producing healthy items has been built under midterm plan and now the business might move towards taste factor too to grasp the consumers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the considerable time to develop new items.
