With the deep analysis of the above options, it is suggested that the company needs to pick the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would enable the business to not just present new and ingenious items in the market it would also decrease the high expenses on R&D under alternative 2 and increase the revenue margins. It would allow the business to increase its share costs also, as financiers are willing to invest more in business with substantial R&D spending and increase in the total worth of the company.
Action and implementation Strategy
Method can be implemented effectively by establishing particular short-term along with long term strategies. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short term plan The Wolf Movement Driving Results Through Women At Best Buy ought to carry out various activities to execute its NHW method efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to examine the core selling brand names, which generate the majority of its revenue.
• Evaluate the current target market in addition to the market section which is not consist of in the company's circle.
• Examine the existing financial data to determine the amount that needs to be spent on the R&D and acquisitions.
• Evaluate the potential investors and their nature, i.e. do they want long term benefits (capital gain), or the desire early revenues (dividend). It would let the company to understand that how much quantity must be spent on R&D.
Mid Term Plan (1-5 years)
• Acquire those organizations in which the business has potential experience to deal with. Obtain most beneficial organizations with a strong dedication to health, to build the client's perceptions in the ideal direction.
• Focus more on acquisitions than R&D to develop the base in the customer's mind about The Wolf Movement Driving Results Through Women At Best Buy worths and vision and to avoid potential danger of sunk cost.
Long Term Plan (1-10 years)
• Obtain companies with health in addition to taste element, as the base for the The Wolf Movement Driving Results Through Women At Best Buy as a company producing healthy products has actually been built under midterm plan and now the company could move towards taste aspect as well 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 build brand-new products.
