With the deep analysis of the above options, it is suggested that the business should select the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would make it possible for the business to not only introduce new and innovative items in the market it would also decrease the high expenditures on R&D under alternative 2 and increase the profit margins. It would make it possible for the company to increase its share rates as well, as investors are willing to invest more in companies with considerable R&D costs and increase in the overall worth of the business.
Action and implementation Strategy
Strategy can be carried out efficiently by developing particular short term as well as long term strategies. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Health City Cayman Islands should carry out numerous activities to execute its NHW method effectively. 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 earnings.
• Evaluate the current target audience along with the market section which is not consist of in the business's circle.
• Examine the current financial information to determine the quantity that must be invested in the R&D and acquisitions.
• Analyze the potential financiers and their nature, i.e. do they desire long term advantages (capital gain), or the want early revenues (dividend). It would let the business to understand that just how much amount must be spent on R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the company has possible experience to deal with. Obtain most favorable organizations with a strong dedication to health, to construct the customer's understandings in the best instructions.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Health City Cayman Islands values and vision and to avoid potential threat of sunk cost.
Long Term Plan (1-10 years)
• Get organizations with health along with taste element, as the base for the Health City Cayman Islands as a business producing healthy items has actually been constructed under midterm strategy and now the company might move towards taste aspect also to understand 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 new items.
