Bus 475 Week 4
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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...
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...