With the deep analysis of the above alternatives, it is suggested that the company ought to choose the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would allow the business to not only present new and innovative products in the market it would also lower 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 prices too, as investors are willing to invest more in business with substantial R&D spending and increase in the overall worth of the business.
Action and implementation Strategy
Method can be implemented successfully by developing certain short term as well as long term strategies. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan Mary Griffin At Derby Foods must perform numerous activities to implement its NHW method effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to take a look at the core selling brands, which produce most of its profits.
• Evaluate the current target market in addition to the market sector which is not consist of in the company's circle.
• Examine the present financial information to determine the amount that must be spent on the R&D and acquisitions.
• Analyze the possible financiers and their nature, i.e. do they want long term advantages (capital gain), or the want early profits (dividend). It would let the business to know that how much amount should be invested in R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the business has potential experience to deal with. Obtain most beneficial companies with a strong dedication to health, to construct the client's understandings in the ideal direction.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about Mary Griffin At Derby Foods worths and vision and to prevent potential threat of sunk cost.
Long Term Plan (1-10 years)
• Get companies with health along with taste factor, as the base for the Mary Griffin At Derby Foods as a company producing healthy items has actually been constructed under midterm strategy and now the business could move towards taste element as well to grasp the consumers, 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 new items.
