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Corporate Strategy - Fitness Industry "New York Fitness" Table of Contents Introduction 3 PESTLE Analysis of the Fitness Industry in the UK 4 Competitive Rivalry 9 Analysis of Bowman’s Strategy Clock 11 Application and Justification of the Ansoff’s Matrix 12 Conclusion 14 References 16 19 Introduction The fitness industry is one of the growing business sectors in the United Kingdom…
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This industry renders the facility of fitness specially gym and health clubs as per membership basis. The benefits provided by this industry include the use of exercise equipments and weights, along with facilitating personal training, group classes and other club amenities. As per the data of IBIS World (2012), the fitness industry especially gym and health clubs have inculcated an estimated figure of around 8.7 million members across the United Kingdom, which is nearly 17% of the adult population. The London Olympics specially provided the extra motivation in this industry; as a result, the revenue increased by around 9.5% over the last five years (IBIS World, 2013). The fitness industry is incredibly successful with innovation and changing technologies which provides the adapting capability of the products for suiting its own requirements. Though there are around 6000 gyms and health clubs in the UK but they cater to the different market segments. These include women only gyms, traditional body building gyms, budget model gyms, premium full service health club, and 24-hour gyms among others. In London, there are around 70,200 people employed in the active leisure, learning as well as wellbeing sector among them 5900 are employed in the health and fitness industry. Therefore, the government of the UK also provides help for ensuring sustained growth of this sector. London has a rich mix of active leisure and learning facilities, high profile sporting clubs and also a host of international, national and regional events. Therefore, the industry skills fill the gap of sports specific technical skills and health consciousness (AACS LMI, 2010). Contextually, on the basis of research initiatives on management theory the analysis is done with the help of PESTLE analysis of the external environment. Besides, in this paper, Bowman’s Strategy Clock and application and justification of the Ansoff’s Matrix are also going to be provided as analysing tools for finding out marketing and growth strategy of a new company. Thus, by analysing the external and internal factors a set of recommendations is also drawn on the development options of the business (Jarzabkowski & et. al, 2009). PESTLE Analysis of the Fitness Industry in the UK A PESTLE analysis at times referred to as PEST analysis is one of the imperative and useful tools for analysing and understanding the industry position as a whole and is often used in conjunction with a SWOT analysis to access the situation of an individual business. A PESTLE analysis is one of the most important frameworks regarding to the assessment of macro environmental analysis. Therefore, it is one of the most important frameworks and a key part for designing of strategic management. The term ‘PESTLE’ refers Political, Economical, Social, Technological, Legal and Environmental factors. This analysis enables to draw varied pertinent responses regarding various questions such as what are the political factors which likely to affect the industry, important economic factors, cultural aspects, technological innovations, present and imminent legislations of the government as well as environmental considerations. However, it is also needed to highlight that these factors definitely depend and ... Read More
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