With the deep analysis of the above alternatives, it is suggested that the business should pick the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would allow the business to not just introduce new and innovative items in the market it would likewise minimize the high expenditures on R&D under alternative 2 and increase the revenue margins. It would make it possible for the business to increase its share costs also, as financiers are willing to invest more in business with considerable R&D spending and boost in the overall worth of the business.
Action and implementation Strategy
Strategy can be implemented successfully by developing particular short-term along with long term strategies. These plans might be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy The Weather Company Creating Consumer Apps That Leverage Its Big Data should perform different activities to execute its NHW strategy efficiently. These activities are as follows;.
• Get the audit of its brand portfolio done, to take a look at the core selling brand names, which generate most of its income.
• Evaluate the existing target audience as well as the market sector which is not include in the business's circle.
• Examine the current financial information to measure the quantity that must be spent on the R&D and acquisitions.
• Analyze the potential financiers and their nature, i.e. do they desire long term benefits (capital gain), or the want early profits (dividend). It would let the business to understand that how much quantity needs to be invested in R&D.
Mid Term Plan (1-5 years)
• Acquire those organizations in which the company has prospective experience to handle. Get most favorable companies with a strong dedication to health, to construct the consumer's understandings in the right instructions.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about The Weather Company Creating Consumer Apps That Leverage Its Big Data values and vision and to avoid possible danger of sunk expense.
Long Term Plan (1-10 years)
• Get companies with health in addition to taste factor, as the base for the The Weather Company Creating Consumer Apps That Leverage Its Big Data as a company producing healthy products has been developed under midterm plan and now the company could move towards taste aspect as well to comprehend the customers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to develop brand-new items.
