With the deep analysis of the above options, it is suggested that the company ought 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 company to not only present new and ingenious items in the market it would likewise reduce 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 investors want to invest more in business with significant R&D spending and boost in the total worth of the company.
Action and implementation Strategy
Technique can be carried out effectively by developing certain short term in addition to long term strategies. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Embracing Digital Technology A New Strategic Imperative ought to 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 brand names, which generate most of its profits.
• Examine the existing target market in addition to the marketplace segment which is not include in the company's circle.
• Evaluate the existing financial information to determine the quantity that ought to be invested in the R&D and acquisitions.
• Examine the possible financiers and their nature, i.e. do they want long term advantages (capital gain), or the want early earnings (dividend). It would let the business to understand 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 deal with. Obtain most favorable organizations with a strong dedication to health, to develop the customer's understandings in the right direction.
• Focus more on acquisitions than R&D to construct the base in the consumer's mind about Embracing Digital Technology A New Strategic Imperative worths and vision and to prevent potential danger of sunk cost.
Long Term Plan (1-10 years)
• Acquire organizations with health along with taste factor, as the base for the Embracing Digital Technology A New Strategic Imperative as a company producing healthy products has actually been developed under midterm strategy and now the company might move towards taste element also to grasp the consumers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the substantial time to construct new items.
