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 just present brand-new and innovative products in the market it would likewise decrease the high expenses on R&D under alternative 2 and increase the revenue margins. It would make it possible for the business to increase its share costs as well, as financiers want to invest more in business with substantial R&D costs and increase in the total worth of the company.
Action and implementation Strategy
Technique can be executed successfully by establishing specific short term along with long term plans. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Global Medical Imaging Llc must carry out numerous activities to execute its NHW method efficiently. These activities are as follows;.
• Get the audit of its brand portfolio done, to analyze the core selling brands, which generate the majority of its revenue.
• Evaluate the present target market as well as the marketplace sector which is not consist of in the business's circle.
• Analyze the present financial data to measure the quantity that should be invested in the R&D and acquisitions.
• Analyze the prospective financiers and their nature, i.e. do they desire long term advantages (capital gain), or the desire early revenues (dividend). It would let the business to understand that how much quantity needs to be invested in R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the company has possible experience to handle. Get most favorable companies with a strong commitment to health, to build the consumer's understandings in the ideal direction.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Global Medical Imaging Llc values and vision and to avoid prospective risk of sunk cost.
Long Term Plan (1-10 years)
• Get organizations with health as well as taste element, as the base for the Global Medical Imaging Llc as a business producing healthy items has been built under midterm strategy and now the business might move towards taste element too to understand the customers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to build brand-new products.
