With the deep analysis of the above alternatives, it is advised that the business ought to choose the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would enable the company to not only introduce brand-new and innovative items in the market it would also lower the high expenses on R&D under alternative 2 and increase the earnings margins. It would allow the business to increase its share rates also, as investors want to invest more in companies with significant R&D costs and increase in the total worth of the company.
Action and implementation Strategy
Technique can be executed successfully by establishing certain short term as well as long term plans. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Internet Of Things Convenience Vs Privacy And Secrecy should perform different activities to implement its NHW technique efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to examine the core selling brand names, which produce most of its revenue.
• Examine the current target market in addition to the market sector which is not consist of in the company's circle.
• Examine the current financial information to determine the amount that ought to be spent on the R&D and acquisitions.
• Examine the possible investors and their nature, i.e. do they want long term benefits (capital gain), or the want early profits (dividend). It would let the business to know that how much quantity needs to be spent on R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the business has potential experience to deal with. Obtain most beneficial organizations with a strong dedication to health, to develop the client's understandings in the ideal direction.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Internet Of Things Convenience Vs Privacy And Secrecy worths and vision and to avoid prospective threat of sunk cost.
Long Term Plan (1-10 years)
• Get organizations with health in addition to taste aspect, as the base for the Internet Of Things Convenience Vs Privacy And Secrecy as a company producing healthy products has been built under midterm plan and now the business might move towards taste factor 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 substantial time to develop new items.
