With the deep analysis of the above alternatives, it is suggested that the business must 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 present brand-new and ingenious products in the market it would also reduce the high expenditures on R&D under alternative 2 and increase the profit margins. It would enable the business to increase its share prices as well, as financiers are willing to invest more in business with significant R&D costs and increase in the overall worth of the company.
Action and implementation Strategy
Method can be carried out efficiently by establishing 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 Executive Shirt Co Inc need to carry out various activities to implement its NHW method efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to take a look at the core selling brand names, which create the majority of its profits.
• Evaluate the present target market as well as the market sector which is not include in the company's circle.
• Analyze the existing financial data to measure the quantity that ought to be invested in the R&D and acquisitions.
• Evaluate the possible investors and their nature, i.e. do they desire long term advantages (capital gain), or the desire early profits (dividend). It would let the business to know that how much amount must be spent on R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the business has prospective experience to handle. Get most favorable organizations with a strong commitment to health, to build the client's understandings in the best direction.
• Focus more on acquisitions than R&D to construct the base in the consumer's mind about Executive Shirt Co Inc values and vision and to prevent potential risk of sunk cost.
Long Term Plan (1-10 years)
• Acquire organizations with health as well as taste element, as the base for the Executive Shirt Co Inc as a company producing healthy products has actually been developed under midterm plan and now the business might move towards taste element as well to grasp 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 build new items.
