With the deep analysis of the above alternatives, it is suggested that the company must choose the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would allow the business to not just introduce brand-new and innovative products in the market it would likewise minimize the high expenditures on R&D under alternative 2 and increase the earnings margins. It would make it possible for the company to increase its share prices also, as financiers are willing to invest more in business with significant R&D costs and boost in the total worth of the company.
Action and implementation Strategy
Strategy can be implemented efficiently by establishing specific short-term as well as long term strategies. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short term plan Flare Fragrances Company Inc Analyzing Growth Opportunities Spreadsheet Supplement must perform different activities to execute its NHW strategy efficiently. These activities are as follows;.
• Get the audit of its brand portfolio done, to analyze the core selling brand names, which create most of its profits.
• Examine the present target audience in addition to the marketplace segment which is not consist of in the business's circle.
• Evaluate the existing financial information to measure the amount that must be spent on the R&D and acquisitions.
• Analyze the prospective investors and their nature, i.e. do they want long term benefits (capital gain), or the desire early earnings (dividend). It would let the company to understand that how much quantity must be spent on R&D.
Mid Term Plan (1-5 years)
• Obtain those companies in which the company has prospective experience to handle. Obtain most beneficial companies with a strong dedication to health, to develop the customer's perceptions in the ideal instructions.
• Focus more on acquisitions than R&D to construct the base in the customer's mind about Flare Fragrances Company Inc Analyzing Growth Opportunities Spreadsheet Supplement worths and vision and to avoid prospective threat of sunk expense.
Long Term Plan (1-10 years)
• Obtain companies with health in addition to taste factor, as the base for the Flare Fragrances Company Inc Analyzing Growth Opportunities Spreadsheet Supplement as a company producing healthy products has actually been constructed under midterm plan and now the company could move towards taste aspect also 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 considerable time to build new items.
