With the deep analysis of the above alternatives, it is advised that the business needs to select 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 brand-new and ingenious products in the market it would likewise decrease the high expenditures on R&D under alternative 2 and increase the revenue margins. It would allow the company to increase its share rates also, as financiers are willing to invest more in business with considerable R&D spending and increase in the total worth of the business.
Action and implementation Strategy
Technique can be executed successfully by establishing certain short term along with long term plans. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Polaroid Entering Digital Imaging should perform different activities to execute its NHW technique effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to take a look at the core selling brand names, which create the majority of its earnings.
• Examine the existing target audience in addition to the market sector which is not consist of in the company's circle.
• Evaluate the present financial information to measure the amount that must be invested in the R&D and acquisitions.
• Analyze the potential financiers and their nature, i.e. do they want long term advantages (capital gain), or the desire early earnings (dividend). It would let the company to understand that how much quantity must be spent on R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the company has prospective experience to deal with. Acquire most beneficial organizations with a strong commitment to health, to construct the client's understandings in the right instructions.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Polaroid Entering Digital Imaging worths and vision and to prevent possible risk of sunk cost.
Long Term Plan (1-10 years)
• Get companies with health in addition to taste element, as the base for the Polaroid Entering Digital Imaging as a business producing healthy items has actually been developed under midterm plan and now the business might move towards taste factor also to comprehend the consumers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to build new products.
