WK1_Strategic Plan, Part I: Conceptualizing a Business - Essay Example

? Super Fit Table of Contents Table of Contents 2 Introduction 3 Defining the business 4 Vision, Mission and Values of Super Fit 5 Analysis of the mission, vision and values 6 Evaluation of the organization’s addressing of the customer needs 6 Reference 8 Introduction The world of the 21st century is progressing at a rapid pace. It is doing so on the line of fast change and tremendous development. It is important to highlight that the fast change of the current century is being powered on the lines of highly connected telecommunications technology that has advanced in a tremendous way in the recent past. It needs to be mentioned that throughout the previous decade there was a tremendous surge in penetration of internet based connectivity in various parts of the world. As a result of a fact acceptance of the single mode of connectivity which has developed on the lines of internet powered virtual platform in various corners of the world, the world has been transformed into a single connected global entity. This has increasingly paved the way for easy synchronization of various trends related to globalization that are emerging from the different corners of the world. In discussing the trends of globalization, it has to be considered that in most cases, the trends originate from the developed countries and slowly gets diffused in the emerging economies. Because of this shift in trend, related to globalization, there is a continuous emergence of various business opportunities. Most of these business opportunities are highly innovative in nature, while some are routinely traditional in nature. However, the evolution of the new business opportunities simply represents the fact that various companies around the world will be trying to gain advantage of the opportunity that is evolving in these new markets. This will automatically trigger an increase in competition in the marketplace. So, in order to gain a competitive edge in the marketplace, it naturally becomes very important for a company to design a specific and well planned strategic move. Now talking on those lines, it can be said that the planning of the strategic move for an organization starts with a strategic plan. The normal components of the strategic plan are mainly the factors related to mission, vision as well as the various values that govern the strategic plan of the company. This particular paper talks about the importance as well as the factors related to the mission, vision, as well as the values regarding strategic direction of the organization. Defining the business Talking about the business perspective, it needs to be mentioned that any business is largely dependent on the need that is being fulfilled by the business owner for a section of the masses of the society. Often this particular group or segment of the market is identified as the target audience. However, for an entrepreneur, it is very important to select the right business idea. The reason behind providing so much importance on the choosing and selection of a business idea is the fact that the entrepreneur should be self motivated in pursuing that particular business idea (Boone and Kurtz, 2010, chap 6). It is his sole responsibility to develop the innovative and exciting idea into a successful business venture and business model of the future. Also, while concentrating on the process of conception of a new idea, the entrepreneur or the intended idea generator needs to concentrate on the process of need fulfilment as well as probable identification of a valid business proposition (Barrow, 2008, p. 31). In order to develop an idea that will naturally have a significant amount of competitive edge with regards to other competitors of homogeneous nature, it is of high priority for the entrepreneurial individual to focus on the developing an idea which will add value to the target consumers in a very unique manner. In simple terms, the individual needs to focus on conceiving an idea which has a unique selling proposition (USP) (Hougaard, 2005, p. 195) In this case, the business idea is to develop a gym in the name of ‘Super Fit’. The gym ‘Super Fit’ will be providing fitness services to the masses of the surrounding region adjacent to its location. Since the idea is related to the development of a gym, hence the offering for the masses will be naturally inclined towards delivery of services. In this case, the gym will be offering an array of fitness services. The service portfolio comprises of fitness regimen for the members under expert supervision, physiotherapy treatments, massages, spa treatments as well as yoga services and meditation training. The intended customers or the target audience for the gym comprises of multiple segments. The first segment will comprise of young population, especially the teenagers who have a high concern for their physical shape and well being. The second segment will comprise also, of the young population, but for individuals who fall in the age group of 18 – 26 years. The third segment will be middle aged as well as elderly individuals who need to work out on a regular basis to stay fit and healthy. Vision, Mission and Values of Super Fit Vision is the long term goals of a company while mission is the short term goals that will help the organization to achieve its long term goal. In a crisp manner, the vision of the organization ‘Super Fit’ can be stated as providing highly expertise body building services along with superior values to the individuals and community which will ensure a happy, fit and healthy life. The mission of Super Fit can be stated as follows: To provide gym services under expert supervision To offer high quality yoga services and physiotherapy treatments by experts and yoga gurus To teach meditation of mind under the training and guidance of expert individuals. To offer a better lifestyle to the society at large. It is utterly relevant to state that the values are the founding pillars which guide an organization’s philosophy in regards to achieving success (Scott, 1993, p. 19). In discussing about the values of the organization, it can be said that the Super Fit gym will be delivering its services on the lines of values which comprises of customer satisfaction as well as high level of ethics. Analysis of the mission, vision and values Now in analysing the vision, mission and values set by the gym organization Super Fit, it can be said that the focus is largely on the process of integration of the three. The vision of the company is designed on a holistic tone, while relying on the values of the organization. Also, it can be noted that the mission objectives set by the organization will help in achievement of the long term goal. Evaluation of the organization’s addressing of the customer needs The organization Super Fit focuses on providing fitness services along with an array of other health and physical services to the customers. The organization has focused on the process of delivering its services to various segments of customers. It has been generally estimated that these multiple segments of the customers will be availing the services offered by the organization for a wide range of reasons. While the young consumers will focus on staying fit as well as in a good shape, the consumers falling in the high age bracket will be aiming to stay fit and healthy. However, the underlying theme connecting the various segments of Super Fit’s customer base is the need to stay physically fit. Super Fit continuously focuses on fulfilling this particular need of the consumers. Now, in assessing the competitive advantage for the organization, it needs to be highlighted that the Super Fit gym offers a complete array of fitness and health benefitting services, which will completely take care of the diversified needs of its customers. Also, the fact that the services are delivered by experts further boosts up the competitive advantage. Reference Barrow, C. (2008). The business plan workbook. USA: Kogan Page Ltd. Boone, L.E and Kurtz, D. L. (2010). Contemporary business. UK: John Wiley and sons. Hougaard, S. (2005). The business idea. Denmark: Springer. Scott, C. D. (1993) Organizational vision, values and mission. USA: Crisp Publications. Read More