With the deep analysis of the above options, it is advised 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 company to not only present brand-new and ingenious 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 prices also, as financiers are willing to invest more in business with substantial R&D spending and increase in the overall worth of the company.
Action and implementation Strategy
Strategy can be carried out efficiently by developing specific 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 Is Your Business Ready For A Digital Future should perform different activities to implement its NHW method effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to analyze the core selling brand names, which create the majority of its revenue.
• Evaluate the current target audience along with the market segment which is not consist of in the company's circle.
• Analyze the current financial data to measure the quantity that should be spent on the R&D and acquisitions.
• Analyze the potential financiers and their nature, i.e. do they want long term benefits (capital gain), or the want early earnings (dividend). It would let the company to understand that how much amount must be invested in R&D.
Mid Term Plan (1-5 years)
• Obtain those organizations in which the company has possible experience to handle. Get most favorable companies with a strong dedication to health, to build the customer's perceptions in the ideal direction.
• Focus more on acquisitions than R&D to construct the base in the customer's mind about Is Your Business Ready For A Digital Future worths and vision and to avoid prospective danger of sunk cost.
Long Term Plan (1-10 years)
• Obtain organizations with health as well as taste factor, as the base for the Is Your Business Ready For A Digital Future as a business producing healthy items has actually been constructed under midterm plan and now the business might move towards taste element as well to grasp the customers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the substantial time to develop new items.
