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Final Strategic Plan for Body Alive
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Body alive is a business with several international leads where potential representatives check the business directory through safe leads and post marketing content company with its main focus on healthy living, wealth creation and freedom of work to individuals. It involves multilevel marketing of healthy products, skills and ideas where the marketers are paid for the products they sell individually and also for the earnings from the people they recruit into the system. Body Alive is part of Yoga Studio that offer produce and distribute quality physical education and health products that include yoga mats, yoga equipment, prAna yoga clothing, ECO yoga mats, Pilates equipment, yoga music cds, yoga dvd, yoga supplies, , yoga books, and yoga kits that are used by people in their yoga practice.
Yoga Studio also supplies yoga mats and yoga equipment to yoga instructors and teachers, schools their retail outlets at wholesale and retail prices (Yogastudiocalgary.com 2011). Body Alive in conjunction with Yoga Studio offer lessons on physical fitness to the customers for people with back and any kind of muscle pains. One factor that has made Yoga remain competitive is the ability to conceptualize their business idea and has been able to pursue their vision and mission in their quest for expansion.
Body Alive long term objectives consist of becoming a leading company in physical fitness products provision and aims at being the best trainer globally by year 2020. Also the company seeks to double its revenue collection from supplying physical fitness products. These objectives can be analyzed through income statement and cash flow statements.
The vision, mission, and values as a strategic guide
The Body Alive Vision statement is to be the most inspiring, expressive, unique and trendy yoga studio for excellent health and physique. This is usually the first step in goal setting and planning process in an organization. The Body Alive vision statement goes a long way to provide a sense of direction in the long term by stating the expectations of achievements in the future. In addition, it is intended that the conversations about the vision will bring together all the facilitators to build a strong team around a common dream. This team includes the employees, the clients and the customers. And therefore, a foundation is built for undertaking the process of planning and implementation, so that the dream becomes a success. An excellent health and physique, with a new outlook would only be realized from a unique and trendy yoga studio. Yoga helps in releasing tensions after hard and taxing lifestyles, and, coupled with dancing would help much in building suited body shapes, power, grace and ease in movements and health breathing.
The tangible results the customer can get by using the company’s service or products, usually does not change regardless of changes in the market; these are the values of the organization. The mission statement guides the organization in its day-to-day operations. It’s a roadmap to empower you and the employees to be more effective. As a framework for independent decisions, the employees can now very effectively initiate actions intended to reaching the stated vision of the business. A unique and trendy Yoga Studio, dedicated to offer expressive yoga and dance classes in different styles, suiting everybody. We are Catering for maximized, premier comfort where you can explore the body, mind and soul, sculpting life and body into its best shape ever. Body Alive’ mission is to render a selfless service to the community through offering a variety of multi-leveled yoga classes, and contributing to a range of humanitarian and environmental initiatives in our surroundings. This improves coordination while enhancing the organization’s long term competitive position so as to offer the stated beautiful and supportive environment.
The organization’s strategic direction is fully guided by the value propositions stated above, which would ensure delivery of tangible results. These include increased revenues, decreased costs, improved operational efficiency, ease of marketing, and improved levels of customer retention.
The valuestatement emphasizes on honoring and aspiring personal development through teaching and practicing the system of yoga in daily life in a variety of styles, that relies on the principles of respect, tolerance and understanding. The program is unique in building power, grace and ease- a well sculpted life and body and is enhanced by dance classes; it is also non-violent by caring and protecting its broader community with all due respect. Furthermore, it has respect for diversity through accepting and valuing differences for a diverse community to enhance safe and accommodating community and an inclusive, supportive environment. It also intends to encourage continuous learning and practicing through striving hand in hand with the community to learn daily and practice a new outlook on life in a beautiful and supportive environment. Finally, it works towards encouraging innovation, reliability and flexibility in its services depending on the customer’s needs.
Business environmental analysis is done through analysis of political, economic, sociological and technological and legal environment, as well as, industry environment and operation environment which are internal factors that Yoga is operating in (Harrison 2010). Economic factors include the conditions under which Yoga operates. Due to increase in demand for Yoga products and trainings, the income and growth of revenue has been on the rise since 2007, the capital base has risen and has led to the regional expansion to establish its presence in more states and countries. Growth of revenue collection also provides opportunity for future business growth thus, Yoga can continue with the expansion program into regions not yet exploited and can as well invest in new product development to continue cementing their market base.
Social environment deals with the beliefs, lifestyles, values and opinions that the company holds on the society it serves in ensuring that they give back to the society. Body alive under Yoga believe in good lifestyle and values and since 2007, Body Alive has been involved in nutrition and activity programs that ensure that there is efficiencies and balance in nutritious food stuffs and physical exercises, using Yoga Refresh Project initiative of donating to schools to construct fitness rooms (Yogastudiocalgary.com 2011). Currently Yoga companies have exhibited the best credentials in in corporate social responsibility. This has made the company be well received in their business environment, for their sustainable investment in healthier future of the people, a fact that has given them strength over other competitors. The company has also embarked on packaging their products in environment friendly packages in a bid to ensure that the environment is well maintained, also known as ecological factors.
Political environment consists of factors that are concerned with the legal and government regulations that control the operations of firms. Having that Yoga is a multinational firm, it experiences different regulations depending on the country as far as multi-level marketing of the products and the delivery of the products is concerned. They therefore have to comply with all the stipulated directions to operate smoothly in these settings. For example, Yoga has maintained the quality of the products to acceptable level. Without compliance to legislation like free trade agreements, tax programs, pollution, and tax operation, licenses can be withdrawn hence terminating the production (Muralidaran 2007).
Technological factors include production, product differentiation that ensures that best healthy products and lessons are released to the market as exhibited by Yoga. Currently the company utilizes a new technology of internet marketing, product order and the concept of people marketing where members recruit marketers under their hierarchy (Yogastudiocalgary.com 2011). This latter strategy helps Yoga reduces the cost of advertisement and marketing of the firm and eventually maximize on profits. The company’s competitiveness relies on its operation in very many substitute goods and products that give substantial competition to the Yoga Practice products that include yoga clothing, ECO yoga mats, Pilates equipment CDs, DVDs, yoga books, and yoga kits (Yogastudiocalgary.com 2011). These alternative products reduce the demand of the wares with some being pirated like the Yoga music CDs is states where anti-piracy laws are not fully implemented. Yoga must therefore determine the products of the rivals to be competitive and to determine the threat of being substituted from that market.
Suppliers and Buyers bargaining power; the company needs to identify and maintain suppliers and buyers to ensure that the supplies are always provided and customer loyalty it developed depending on their level disposable income, a factor necessary in price setting.
Economies of scale is a concept that explains that the higher the number of sales the higher the revenue and profit respectively (Harrison 2010). The capital investment has been necessitated by the growth in the last decade. However, it requires to review costs of the products that are commensurate to the sizes and increase the distribution channels to the untapped markets around the world. The company must also comply with the government health policies regulating the physical fitness.
Its operations management involves the factors that influence competitiveness and success of a firm. It includes competitive position of the company, reliability, and composition of the customer base, suppliers, and creditors, ability to attract and retain qualified employees. It also involves internal analysis that include availability of the firm’s industry resources like necessary tangible and intangible assets, firms SWOT analysis to identify the threats and weaknesses that need to be revamped and the organizational structure that efficiently and effectively manage the forms operation to profitability (Muralidaran 2007).
Financial plan narrative
The following report gives a final strategic plan that includes cash flow statement projections and income statement projections. According to the projections the company will invest $81540 which will cover for startup expenses and initial operating cost. Initial expenses are projected to be $73870 and include purchase of fixed assets such as equipment. The projections are then presented in a graph. The amount to be invested will be sourced from Yoga Company. The two year projection for Body Alive Company financials shows a steady growth. The expenses are divided into startup expenses and operating expenses (Fight, 2006). Startup expenses encompass all cost of running the business and for lifting the business up. Such expenses include business licensing and permits, rent deposits, starting inventory, down payments on equipment and property and utility set up fees.
Financial statements are important to investors and mangers as it shows whether the business is making profits or losses. Progression of income statement will aid a business to know whether to expect profits or vice-versa, thus Body alive requires hi-tech equipment for its operation. Major startup cost will include purchase of new equipment, incorporation cost, and rent. Yoga Company will invest $69540 at the start of Body Alive Company. Initial startup expenses comprises of $52000 for technological advancement cost meant to purchase marketing facilities such as iPods. Also it will include $6000 for rent. Variable cost includes office stationary and marketing and promotion expenses which add up to $5070. Salaries and wages are budgeted to consume $184800 per year. Body Alive center is anticipated to generate $209760 during its first year of operation. Break-even point is estimated to be hit within the first year since its inception.
The profit and loss graph in figure 1 explains how the firm will start with experiencing losses. The fall is expected because of large amount of capital needed to purchase startup equipment for the company and promotions to market the company. The predictions indicate that the company is likely to pick up after 7 months of operation. It is expected that by this time body alive company will have been established well and have regular customers. This will increase income sales and hence cause a positive growth on profits realized. The greatest loss shall be experience. Cash outflow represents expenses of the business and also the may increase gradually as the business matures. The expenses will include the initial operating costs, cost of fixed assets and accounts payables. The representation of the cash outflow and cash inflow will show cash flow statement. Cash flow statement is crucial for every business in determining the rate of return, problems with business liquidity and evaluation of the quality of income and risks involved in a financial product. The following are the projections of the cash flow of Body Alive Company.
The amount that will be invested to the Body Alive center will be $69540. According to the projections Yoga will also have to inject $12000 more to purchase more equipment as the business grows after 6 months of operation. The first amount will cover all startup costs of and also the initial operating cost while the second bunch will be used to support the business in its growth. Fixed costs will include rent and amounts to $26400. The graph in figure 2 indicates that initially the cash flow will tend to increase negatively for the first 4 months. This will be as a result of more amounts being injected to the company than money flowing into the company. After more marketing is done the cash inflow start increasing steadily to cross over to the positive side. The rise will be experienced up to the end of the two years period projection.
Critical success factors
Marketing techniques usually play a very important role in the success of sales in every firm. Body Alive under Yoga Studio should employ new technology that include internet marketing, iPhone, You tube , social chart engines like Facebook and twitter that reach more people at ago worldwide and the use of people marketing. Product positioning remains important in building customer loyalty. Market segmentation also needs to be done to clearly identify the target market for particular training and classes. The types of physical fitness lesson usually vary with age of the clients with elderly clients being introduced slowly while younger clients with their swiftness able to perform complex and intense activities. This can be done in line with age, brand taste, and purchasing power to enable the form manufacture customized products that meet specific needs for particular segment (Muralidaran 2007).
Marketing an IT
Yoga needs to be open to the technological advancement that takes place almost every day to be able to adopt cheaper, efficient, and differentiated technologies in the next ten years to be able to compete and sustain steady production of the practice products. In addition, Body alive needs include brands that are healthier and children sensitive. Obesity in children, arthritis, diabetic and heart related health complications are currently global challenge with major causes being lifestyle. This therefore a great business opportunity for Yoga Studio and its affiliate companies including Body Alive to extend their classes, workshops, seminars on physical education and practices to its target market prevent or contain such health related conditions among the world populations.
The company has created differentiated lessons depending on the needs and comfort of the client. It also provide quality product necessary for the physical lessons and practices like Yoga equipment, kits, and books for reference, music, and CDs that guide the clients even in their homes. Body alive and Yoga student should however open more outlets in the respective countries for easy access by the clients without online order. This is because many clients may not have the knowledge to order the items online. Hence the company will achieve its success through personal values are the beliefs that the clients endeavor to practice and to govern and guide personal relationships and business processes. In addition, they guide clients in decision making, as well as articulating what they need
Organize financial tools
In order to maintain Body Alive will need to consistently track its financials and have access to the most up-to-date information. With the proper systems in place and a budget backed up with a solid plan, the company will be better positioned to achieve the success desired.
Tactics to address the ethical, legal and regulatory issues
The values articulated above, having originated from a traditional system that evolved to accommodate modern challenges, act as a driving force to commitment in assisting clients in yoga and dance classes. It allows for open and free discussion with the employees or coworkers, high level of understanding and flexibility to adapt to changes, making strategy a habit, not a retreat.
The major challenge or difference is lack of long term experience. However, since both coaching and yoga philosophies focus on discovering on our identity, it will be possible also to use core values to help clients and in allocating them qualified yoga instructors and dance coaches to assist them in answering their lives’ questions for great enrichment.
Managing corporate citizenship
Though it has had its negative side, like categorizing people into non-interactive classes of wealth, today, this system has seen an evolution into values and principles of modern times such as individual freedom, equality and non-discrimination, democracy and fundamental rights, tolerance and universal brotherhood. This implies accommodating people of all nations, races and backgrounds, bracing it for the modern and future challenges, as well as appealing to the inquisitive and advanced minds for future generations. (Jayaram, 2011).
The personal and organization’s valuesof theorganization’s plans and actions is aimed at coaching clients, mostly individuals at crossroads in their life and seeking less stressful ways of living, or to feel good, as well as to achieve specific goals and fulfill their dreams. Exploring the body, mind and soul, to bring out a new outlook from an individual, requires an alignment between my values and the organization’s. The customers’ expectations or the organization’s values range from personal development and encouraging innovation, to respect for diversity and social cohesiveness.
Every business would aim at being competitive to be achieved through a well presented vision, mission and value statements, considering their alignment with personal core values. Body Alive company capital shall be sourced from Yoga Company. The amount will be used to purchase equipment and also cover for initial operating expenses. The report gives projections of the financial progression of body alive. Yoga studios will invest $ 81540 to body alive and this will be done in two phases.
The report gives profit and loss projections and cash flow projections for two years period. The projections indicate that the business will have a gradual loss at the start and then pick up after a few months. The reason behind the initial fall is because the business has not yet matured as it grows it starts yielding profits. Also initial loss is caused by the amount consumed through purchase of equipment and fixed assets. Projected progression shows a healthy growth that will enable Body Alive Company to achieve its objectives.
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