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Body Fitness Strategic Plan III Sean Baker BUS 475 July 5, 2012 Dennis Cleveland Body Fitness Strategic Plan III Body Fitness is an organization that invests heavily in the satisfaction of our customers. In doing so, Body Fitness must always maintain a keen understanding of the objectives and initiatives that organization implements as the standards the company operates on. The fitness industry shows great opportunity for growth because of the vast majority of people that chose to live healthy and keep a healthy appetite for a strong body structure. This summary will explain different strategic objectives Body Fitness endures while reflecting on the vision, mission, values, and analysis of the organization. Research shows organizations that use a balanced scorecard (BSC) outperform organizations without a formal approach to strategic performance management. Some of the key Benefit of using a BSC include better strategic planning, improved strategy communication and execution, better management information, improved performance reporting, better strategic alignment, and better organizational alignment (“The Balanced Scorecard”, 2012). A BSC focuses on four main areas of concentration including learning and growth, internal operations, value perspective, and financial perspective. Below, body Fitness will examine each specific area of the BSC and address some critical areas the organization will focus on to ensure the imminent success of the business. Financial Perspective Body Fitness will focus on the increase of revenue over the next five years. Growth is a direct reflection of the implementation of our product and the execution of the vision and mission of our organization, so it is imperative that our customers are satisfied to the fullest extent with their experience at Body Fitness. Body Fitness will focus on an aggressive growth rate of 10% annually over the next five years. This growth rate will be measured on a quarterly basis using the systems in place to measure retention of clients and the overall initiation of new clients. While Body Fitness is a small player in the fitness industry, market share is important. Body Fitness will apply a strategic plan associated with the competitive positioning of our locations. Body Fitness will focus on key areas of the valley where other competitive organizations thrive. This will ensure proper alignment of locations throughout the valley as the organization grows. Body Fitness will position itself within areas of the valley where the average family income is over $80,000 per year. As the organization continues to grow, the plan is to grow market share by 2.5% over the next five years. Growing market share and revenue are directly related to the overall satisfaction of a customer. Customer Value Perspective The mission of Body Fitness is simple; “Body Fitness will offer the best experience to our clientele on fitness instruction, workout regimen, nutrition, and supplements to ensure each client receives outstanding results. Our system of workouts and proper nutrition plans will set the standard for what a fitness facility should offer while considering the best possible outcome for our clients’ fitness.” Establishing this mission in the minds of our employees and our customers is paramount to the satisfaction of our customers. The most substantial objective of Body Fitness is to provide the most outstanding fitness and nutrition training, and in doing this our customers will see added value in our product and services. Instituting our strategic objectives on a continual basis among our employees will ensure customer retention, low turnover, and customer satisfaction. As customers work toward their fitness and nutrition goals, they will be asked to assess their performance, the organizations performance, and most importantly, the performance of their fitness professional. Implementing this strategy will allow the organization to keep a firm grip on the execution of our mission, vision, and values of our business through the performance of our fitness professionals. Using Customer Relations Management (CRM), Body Fitness will establish a system that will identify the best customers, plan and implement marketing strategies, and generate quality business leads for all facets of the organization to implement growth. Internal Operations The internal operation of Body Fitness has a unique process where the end product is actually the customers themselves. In looking at the internal operations of our business, it is essential that we pay focus to the overall execution of each individual program introduced to each customer. Our performance will be solely based of the success of our customers and the goals they attain. As customers reach their goals, each individual will be assessed based on the length of time, overall satisfaction of their program, and employee-customer interaction. As Body Fitness prides itself as an organization to provide a personal approach to fitness and nutrition training, it is imperative that our product be measured through the eyes of our customers and not the professional knowledge of the employees. Fitness charts will be provided for fitness professionals to measure the progress of each customer when fitness and nutrition plan is implemented. Providing candid and continual feedback via customer interaction and progress reports will help measure productivity on a continual basis. Learning and Growth Body Fitness is an organization that adheres to all learning and growth engines that will ensure success. As Body Fitness strives to gain market share and revenue growth, it is essential to examine key factors that may somewhat limit the organization’s performance. On an annual basis, fitness professionals will undergo a rigorous assessment of their performance, both written and hands-on. Fitness professionals will go through a process of an assessment as well as an evaluation by management to ensure the best product and service is being provided through each human interaction that takes place at Body Fitness. At the same time, fitness professionals will address their needs and concerns of Body Fitness as an employer through an annual employee survey and an open door policy. Each quarter, an industry professional from outside the Body Fitness organization will be introduced to all employees. The feature industry professional will provide feedback on the performance of all employees. In turn, fitness professionals will engage in strategic training with an industry professional to promote quality of service among customers and also build employee morale. Morale will also be promoted through the atmosphere that Body Fitness intends to have throughout its locations. Body Fitness facilities will provide an upbeat, enthusiastic, optimistic, and free-spirited approach to training which will promote a comfortable atmosphere for both customers and employees. References The balanced scorecard. (2012). Retrieved from http://www.ap-institute.com/balanced%20scorecard.html