With the deep analysis of the above options, it is advised that the company must pick the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would enable the company to not just introduce new and innovative items in the market it would also decrease the high expenses on R&D under alternative 2 and increase the revenue margins. It would enable the company to increase its share prices too, as financiers want to invest more in companies with considerable R&D costs and increase in the total worth of the business.
Action and implementation Strategy
Strategy can be implemented effectively by establishing specific short-term along with long term plans. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Symed Development Inc need to perform various activities to execute its NHW strategy efficiently. 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.
• Examine the current target market along with the market sector which is not include in the business's circle.
• Analyze the present financial data to measure the amount that must be spent on the R&D and acquisitions.
• Examine the potential financiers and their nature, i.e. do they want long term advantages (capital gain), or the want early earnings (dividend). It would let the company to understand that how much amount must be invested in R&D.
Mid Term Plan (1-5 years)
• Acquire those organizations in which the business has possible experience to deal with. Acquire most beneficial organizations with a strong dedication to health, to construct the customer's understandings in the right instructions.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Symed Development Inc values and vision and to avoid potential danger of sunk expense.
Long Term Plan (1-10 years)
• Obtain companies with health along with taste factor, as the base for the Symed Development Inc as a company producing healthy products has been developed under midterm plan and now the company could move towards taste element too to comprehend the customers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the substantial time to develop brand-new products.
