With the deep analysis of the above alternatives, it is advised that the business should choose the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would enable the company to not only introduce new and ingenious products in the market it would likewise minimize the high expenses on R&D under alternative 2 and increase the profit margins. It would allow the business to increase its share rates also, as financiers are willing to invest more in companies with significant R&D costs and boost in the overall worth of the company.
Action and implementation Strategy
Strategy can be executed effectively by establishing particular short term in addition to long term strategies. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy The Internet Of Things Iot Applications Investments And Challenges For Enterprises should perform numerous activities to implement its NHW technique effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brand names, which create the majority of its profits.
• Examine the present target market along with the market segment which is not include in the company's circle.
• Examine the existing financial data to measure the amount that ought to be invested in the R&D and acquisitions.
• Examine the prospective financiers and their nature, i.e. do they want long term advantages (capital gain), or the desire early earnings (dividend). It would let the company to know that just how much quantity must be invested in R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the business has potential experience to deal with. Acquire most favorable companies with a strong dedication to health, to construct the client's perceptions in the right instructions.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about The Internet Of Things Iot Applications Investments And Challenges For Enterprises values and vision and to prevent potential threat of sunk expense.
Long Term Plan (1-10 years)
• Get companies with health as well as taste factor, as the base for the The Internet Of Things Iot Applications Investments And Challenges For Enterprises as a company producing healthy products has been built under midterm strategy and now the business might move towards taste aspect as well to grasp the customers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to build brand-new products.
