With the deep analysis of the above options, it is recommended that the company must choose the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would make it possible for the business to not only present new and ingenious products in the market it would likewise lower the high expenses on R&D under alternative 2 and increase the profit margins. It would enable the business to increase its share rates also, as investors are willing to invest more in business with substantial R&D costs and boost in the overall worth of the company.
Action and implementation Strategy
Technique can be carried out effectively by establishing particular short term as well as long term strategies. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Concordia Casting Co should carry out various activities to implement its NHW method efficiently. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brands, which produce the majority of its revenue.
• Evaluate the current target audience along with the marketplace segment which is not include in the company's circle.
• Analyze the existing financial information to measure the amount that ought to be spent on the R&D and acquisitions.
• Examine the possible investors and their nature, i.e. do they desire long term benefits (capital gain), or the want early profits (dividend). It would let the business to know that how much quantity ought to be spent on R&D.
Mid Term Plan (1-5 years)
• Obtain those organizations in which the company has possible experience to handle. Acquire most favorable organizations with a strong dedication to health, to build the client's understandings in the best direction.
• Focus more on acquisitions than R&D to develop the base in the customer's mind about Concordia Casting Co values and vision and to avoid possible threat of sunk cost.
Long Term Plan (1-10 years)
• Acquire companies with health in addition to taste element, as the base for the Concordia Casting Co as a company producing healthy items has been developed under midterm plan and now the business could move towards taste factor also to understand 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 construct new items.