Assign 2 Develop and Implement Strategic Plans

STRATEGIC PLANNING FOR COOPRATE MARKETING PLAN Developed By KIRANDEEP KAUR

Introduction Bounce Fitness is made up of four fitness centers. Head office is currently established in Cairns, Queensland. The other centers are in Brisbane, (Queensland), Sydney, (New South Wales) and Melbourne, (Victoria). It is the intention of the Board of Directors that a new centre will be opened in Perth, (Western Australia).It was established in 2001 by Margaret House as a single aerobic studio. After two years membership increases demanded the small leased centre be expanded and a new facility was built on land purchased by the organization. In 2004 a second centre was established in leased premises in Brisbane and then Sydney and Melbourne in the subsequent two years. The Head Office remains in Cairns and a Board of Directors has been established to oversee the function of the business in all of the centers. Each centre has a Manager, who reports to the CEO in Cairns, and a team of permanently employed fitness instructors and other casual instructors, all of whom report to the Centre Manager.

Mission Statement The Centres will serve the community with quality, comprehensive, unique, and distinctive health programs and services. The employee team will expand upon the preventive services while improving the quality of life among participants through health and fitness services utilising state of the art equipment and practices. These programs will reflect members’ needs and be financially viable for all stakeholders.

Vision Statement Bounce Fitness is committed to an expanding role as a premiere provider of wellness integrated services. Through the evolvement of an empowered employee culture and the creative acquisition and use of resources, we will develop and implement comprehensive programs and services appealing to all.

Values We hold ourselves and co-workers accountable for building trust with our members and each other by being honest, ethical and consistent in what we say and do.

Teamwork

We are committed to empowering our internal teams and external members with the appropriate resources to effectively achieve our common vision.

Accountability We hold ourselves and our co-workers accountable for our behaviours and responsibilities as they affect us, our members and our culture.

Quality We are committed to continually leading the fitness industry by providing the highest standards of quality to our members, through services, programs, and community relations.

Environmental Scan SWOT Analysis The following SWOT analysis captures the key strengths and weaknesses within the company, and describes the opportunities and threats facing Bounce Fitness.

Strengths •

Results-oriented approach to attracting and maintaining customers

•

A well-researched, detailed health wellness program that is long-term in focus

•

Intensively trained staff.

Weaknesses •

High costs associated with customized, personal service

•

The inability to work on a high volume business model

•

The costs of attracting a large corporate client

Opportunities •

Participation within a growing market

•

The large increase in clients that follows with the acceptance of Bounce Fitness’ program by a

•

Single company

•

The ability to leverage future quantitive analysis that supports the contention that long-term

Threats •

Lack of immunity to an economic downturn

•

Potential competition from larger, well established competitors

•

A change in society where the individual begins to take far more responsibility for his/her health maintenance.

Cost benefit Analysis •

Cost

•

Benefit

•

1: cost for new staff, brochure, advertisement will $1000

•

1:company will get goodwill I the market and can raise their income. They can survive in the competitor market.

•

2: cost for the employee training which is a main requirement for company it will be $3000

•

2: They could get more experienced and employee to provide better services to the customer. They can attract more customers.

Conclusion After considering all of aspects of cost and benefits which a company is going to face while making new changes in the business we found that there are more benefits rather than costs.

PEST Analysis 1. Political •

Legislation

•

Regulation

•

Political power

2. Economic •

Tax

•

Growth

•

Interest rates

•

Inflation

3. Social •

Demographic change

•

Living standard

•

Attitudes at work

4. Technology •

Inventions

•

Research

•

Improvements to processes

Critical Success Factors •

Corporate Fitness’s keys to success are:

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Marketing services to companies and individuals

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Recruitment of experienced companies and individuals

•

Dedication and hard work of the founder

•

Raising productivity

•

Lowering overall costs.

Critical Issues •

Bounce Fitness faces several critical issues. It needs to:

•

Sign up a sufficient number of medium-sized companies. It is more cost effective for them to service a couple of medium-sized companies than many small companies.

•

Continue to drive down the costs associated with serving a customer.

Strategies and Actions for Objectives Our production was decreasing from last few months because of this we are losing our customer and our company s good well. So we need to reduce this risk by making new plan and strategies. We will do the advertise in first and second week and deliver the brochure as well to hire the new staff for new staff after this we hire the staff which are eligible for the position. Next step is give them induction we will review our plan and receive feedback.

Implementation Schedule

Act Advertise New staff Brochure Induction for new staff Review the plan Feedback

Week 1

Week 2

Week 3

Week 4

Week 5

Week 6

Week 7

Week 8

Description Strategic planning is about the day-to-day issues.

True

A strategy is an overall plan or approach. Strategic planning needs to be done as a part of a team. Strategic planning needs to consider the views only of staff. Strategic planning should be undertaken by board members. No-one can provide neutral input. A vision and mission statement is the same thing. Mission statements should never change. Clarifying and reaching consensus on your organisational values is very important. A vision statement should be aspirational.

Task 2 True False Quiz Element 1: Confirm Organisational Vision and Mission.

False

Element 2: Analyse the Internal and External Environment. Description Environmental planning should consider both the internal and external markets. An environmental plan should emphasise factors in the PEST over the SWOT. An external environmental scan may look forward up to 10 years. PEST is an analysis technique for the internal environment. Tax is only an economic issue. An internal environmental scan involves looking at the present capabilities of the organisation. A PEST analysis should look at the impact of the external environment on both an organisation and their competition. A SWOT analysis looks only at negative influences on a business. A SWOT analysis should always be conducted in a quadrant. Issues selected to address should be important and urgent.

True

False

Element 3: Write Strategic Plan. Description A strategic plan is a step by step guide. A strategic plan should be created in isolation. A strategic plan should not include the research previously undertaken. A vision statement need not be included. The strategic planning process explores essential questions about the purpose of being in business. Mission statements are built from the vision statement. Strategies are key factors to address if a business is to achieve the vision and mission statement. A strategy is the definition of how the work will get done and by whom. An action would be defining what customers think would be desirable to have as part of the company's enhanced services.

Plans need not be reviewed by others.

True

False

Element 4: Implement Strategic Plan. Description Key Performance Indicators help an, organisation define and measure progress toward organisational goals. KPIs are qualitative. All businesses put their strategic plan to work. KPIs are only important to tactics not to strategy. If a Key Performance Indicator is going to be of any value, there must be a way to accurately define and measure it. Strategic plans are guidelines. Strategic plans must be followed. The strategic plan should outline who is responsible for each goal. Status reports should be issued regularly. CEOs should see a status report annually.

True

False

Record of Assessment

Candidate Details

Assessor Details

Name

Name

Course Code: BSB60407

Date

Unit Code

: Unit Name

BSBMGT616A

Develop and Implement Strategic Plans

RTO Record of Assessment Results (please tick appropriate box)

Assessment Activity

PC Mapping

Task 1 — Practical: Develop a Strategic Plan

All Elements and Performanc e Criteria

Task 2 — True / False Quiz

Required Knowledge

Need Mor Competent e Evid enc e

Required Skill

PC Mapping

Analytical skills to undertake value chain analysis, to review strengths and weaknesses, and to collate and interpret statistical data including trend analysis.

Competent Completed Assessmen t

Financial skills to consider resource implications of proposed strategies.

Competent Completed Assessmen t

Research skills to ensure accurate, up-to-date information are available for the environmental analysis.

Competent Completed Assessmen t

Risk management skills to plan and undertake appropriate due diligence.

Competent Completed Assessmen t

Required Knowledge

PC Mapping

Relevant legislations from all levels of government that affects business operation, especially in regard to

Competent

Need Competent more Evidence

Occupational Health and Safety and environmental issues, equal opportunities, industrial relations and antidiscrimination

Complete d Assessm ent

Strategic Planning methodologies including political, economic, social and technological (PEST) analysis and strength, weaknesses, opportunities and threats analysis (SWOT).

Competent Complete d Assessm ent

Computer Knowledge

Competent Complete d Assessm ent

Codes and by-laws relevant to the organisation’s operation

Competent Complete d Assessm ent

Employability Skills

PC Mapping

Communication

Task 1

Teamwork

Task 1

Need Mor Competent e Evid ence

Problem solving

Task 1 and 2

Initiative and enterprise

Task 1 and 2

Planning and organising

Task 1 and 2

Self-management

Task 1 and 2

Learning

Task 1 and 2

Technology

Task 1

(Please tick appropriate box)

Yes

No

Comments and future action discussed

Results discussed and agreed to You have the right to appeal the outcome of your assessment.

The Candidate is

Competent

Not Yet Competent Candidate Comments

Assessor Comments

Detail of further evidence required

After re-assessment the Candidate is

Competent

Not yet Competent Assessor Signature

Date:

The signature confirms that I have submitted all my own work and agree with t5he assessment decision and feedback.

Candidate Signature