With the deep analysis of the above options, it is recommended that the company should select the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would enable the company to not just introduce brand-new and ingenious items in the market it would also reduce the high expenditures on R&D under alternative 2 and increase the revenue margins. It would enable the company to increase its share costs as well, as investors are willing to invest more in companies with considerable R&D spending and boost in the overall worth of the business.
Action and implementation Strategy
Method can be executed efficiently by establishing certain short term as well as long term plans. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan Engaging With Startups To Enhance Corporate Innovation should perform various activities to execute its NHW strategy efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to analyze the core selling brands, which produce most of its earnings.
• Examine the existing target market in addition to the marketplace segment which is not consist of in the business's circle.
• Examine the existing financial data to determine the quantity that needs to be invested in the R&D and acquisitions.
• Evaluate the potential financiers and their nature, i.e. do they want long term advantages (capital gain), or the want early profits (dividend). It would let the business to know that just how much quantity ought to be spent on R&D.
Mid Term Plan (1-5 years)
• Acquire those companies in which the business has potential experience to handle. Get most favorable organizations with a strong dedication to health, to build the client's perceptions in the best instructions.
• Focus more on acquisitions than R&D to develop the base in the customer's mind about Engaging With Startups To Enhance Corporate Innovation worths and vision and to prevent possible danger of sunk expense.
Long Term Plan (1-10 years)
• Obtain organizations with health along with taste aspect, as the base for the Engaging With Startups To Enhance Corporate Innovation as a business producing healthy products has been built under midterm plan and now the company might move towards taste aspect too 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 construct brand-new items.
