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StrategicPlan.docx

StrategicPlan.docx

Running Head: STRATEGIC PLAN 2

2

STRATEGIC PLAN

Strategic Plan

Institution

Name

Date

Introduction

In this paper, my main focus will be on the strategies for expanding my business plan on yoga that I started on a small scale. It is in my best interest as an entrepreneur to expand my business to be able to attract more customers to my business. The organization was previously made up of the chief executive, the manager, trainers, and the support staff (Dey et al., 2019). After critical analysis and the growth in the economy, it would be best if I expanded and re-branded my yoga studio to enable me and my organization to meet our objectives. The epic Yoga studio will be dedicated to providing the best services to the customers ensuring the best experiences through their practice and involvement in the studio

My strategy will be based on rebranding my Epic yoga studio by expanding my business by building more yoga classrooms for practice, adding more yoga varieties in the studio, employing more staff, and training the current staff to gain more experience to enable us to meet the demand or huge organization. In my studio, there will be services in the five yoga practices which include Bikram, Hatha, vinyasa, Kundalini, and Anusvara yoga (Dey et al., 2019). This is to ensure we are offering better and enough services the society requires including therapy centers. Expanding the studio will bring more opportunities to the community in terms of job creation and service provision.

The epic yoga studio will be providing products and services ranging from yoga classes, private lessons, therapy and rehabilitation, education of the members on healthy lifestyles, and boutiques. There will be dining places where food and drinks will be served to the customers before, during, and after the classes. The studio will be fitted and stocked with the latest yoga and exercise equipment to be able to give our customers the best experience during their time in our studio.

Mission

The epic Yoga studio’s mission is to inspire a healthier community by connecting people to the real adventure of exercise. By being essential to our customers by providing different products and services to help them achieve their aspirations.

Vision

To be always the desired place for great body relaxation and rehabilitation center complimentary exercise to the community and the global society.

Objectives

The Epic yoga studio’s objective is to provide the best quality of yoga experience to their customers and student that participate in yoga in our organization. By offering various variety of yoga, we focus I capturing a wider range of customers in our enterprise. Achieving sales requirements of the products we sell for yoga.

We focus on achieving and increasing our customer base by 25% by the end of the second year of operation Epic yoga focuses on increasing sales by 10% yearly to able the brand to expand and provide better and quality services to our customers. Boosting the retention rate of our customers by 85%

The Epic yoga studio through expansion of its services aims at opening training centers for the people who are interested in pursuing yoga-based careers to be trained and create a yoga-based practice community.

Through rebranding and expansion of our yoga studio, the community will get services based on therapy patients who will be able to benefit from our program. It is our aim to be able to build a faculty center that will provide services to the community with effects such as therapy for traumatized people by helping them take back control of their emotions.

Management Strategies

The Epic yoga studio in an attempt to capture the market practiced cross-cultural management strategies. This helps us in various ways in attracting staff members and customers. Cross-cultural management helped our organization in dealing with people from different cultures and backgrounds through transactions and interaction (Dey et al., 2019). The aspect of cross-cultural management has emerged due to the diversification in workplaces. with the evolution in the education castor and the widespread democratic policies across the world, the opening of borders to trading and marketing the workforce department has gained popularity across the globe.

Cross-cultural awareness as management may be realized through recruitment strategies employed by organizations. In these competitive markets having employees from different nationalities will show that your business is determined to see through the multicultural and inclusions are seen in your business and the environment, you bring to the market. The Epic yoga studio borrowed this strategy to help us capture the customer’s attention by bringing in diversity in terms of employment. Bringing different people to work together helps in marketing strategies (Dey et al., 2019).

The global market needs critical thinking organizations and leaders to be able to explore these opportunities we carried out research on how best we can find a better market for our business this enabled us to situate our business in a strategic position where it was easy to access the customers and provide easy accessibility to the customers.

The organization is focused on increasing the number of customer referrals by ensuring those who visit the studio have something to brag about in terms of customer service, handling, and delivery of service. The organization focused on yoga since this requires more attention to detail that will ensure the studio provides the best service possible to the customers. Yoga helps in relaxing and driving away from the negative energy that is why as an organization we are here to bring relief opportunities to our clients.

The epic yoga studio is well located and situated to provide easy access for the clients this is done by selecting the best environment conducive for yoga classes with premium nature treatment that energizes the client to take part in our yoga classes. Yoga is environmental and socially friendly it does not interfere with other people’s activities and routines. Being community-based it is acceptable and embraced by the community for its positive influence on the people and the client.

Marketing strategies

The organization is focused on executing its strategies through, marketing its activities to the local, international, and global markets. this can be done by; developing a website that will feature all the activities and products that are done by the Epic Yoga Studio. This generation is digitalized hence having a website is a good marketing strategy for our organization.

Creating adverts that pass the message to the audience, customers, and clients about the studio and what it brings to the community is crucial (De Pelsmacker et al., 2018). This can be done by putting up billboards that have information about our organization, the services we provide, the location of the studio, and the contacts to help the clients contact us.

Social media platforms offer the best marketing and promotion opportunities for the organization. Creating social media account with detail of the activities we partake in the organization helps in creating awareness of the open market (De Pelsmacker et al., 2018). creation of pop-up advertisements in browses also helps in broadening the organization’s name since this can be opened by anybody connected to the internet. the adverts can capture the attention of people hence development of interest to understand what it entails by so doing the organization is represented.

External environment

The threat s in our business would be competition from the well-established organization with the same agenda as our business. This also motivates us to be clinical and provide the best services for our clients. The government taxation can sometimes be high, this at times makes entrepreneurs walk away from business opportunities hence no development or growth. Customer certification can sometimes be a threat to the organization where the customer’s needs and expectations are not met this destroys the reputation of the organization hence, we lose customers.

The opportunities arise when the organization has solid strategies for the execution of its plan and producing high performance that impresses the clients and the society. The epic yoga studio is secure and has high-security standards that protect the clients from any attack within the organization’s boundary, there is client privacy and confidentiality to help the client maintain their low-profile status during their classes in the studio.

Organization policies.

The epic yoga studio has policies that help us operate transparency without discrimination. These policies protect the clients the staff and the organization from miss conduct and miss treatment during their time in the studio. The organization’s culture is diversity and equality, there is transparency and free flow of information thorn the management to the staff (Abaker et al., 2019). That relationship is open and no boundaries or power motivates workers or the management in mistreating each other. Teamwork is the spirit in our organization to foster productivity.

Employee involvement aims at increasing members of the organization into a decision that affects the organization’s well-being as well as its performance. This includes, Knowledge and skill set of employee training is identified as a critical component of workforce management. It is defined as a systematic process to foster the acquisition of skills, rules, concepts, or attitudes that result in an improved match between employee characteristics and employment requirements employee training could be defined as a planned effort by a company to help employees learn job-related knowledge, skills, and attitudes (Abaker et al., 2019). At Epic yoga studio our employees are trained in customer service and handling to provide the best experience for the customers.

The management practices servant leadership skills where Servant leaders should be aware of at all times. self-awareness is key to a leader. This helps in understanding the ethics, power, and value of an issue. They always have the inner serenity that guides them to acknowledge what is right and what is wrong. servant leaders should have empathy this is the ability to understand and feel remorseful for others when they are having hard times or facing a difficult situation (Abaker et al., 2019). Our management helps by influencing our fellow workers or employees by setting a good example where others can take concepts and ideas that will help them in the future. Leaders that are critical thinkers and are work and leadership-oriented tend to be effective through their performance guidance and leading by example can influence others to be better people at what they do currently or in the future.

We embrace diversity where the organization is not discriminative when it comes to giving opportunities to the client, or the employees. Equal treatment for all regardless of nationality, race, age, gender, or ethnicity. This strategy helps us gain more customers since there is unity within the institution.

The organization has a human resource management department that deals with organizational misconduct against individuals who are not compliant with the rules and regulations of the organization (Abaker et al., 2019). This helps us to be fair in our judgment and helps the organization in maintaining our reputation since we value equality and fairness for the client and employees.

Functions and services.

The organization focuses on yoga classes, therapy, and general exercise activities that serve a purpose in the community. Yoga classes are full-time and are scheduled to fit the time frame of the clients. Some well-educated instructors are capable of taking care of the client’s needs and ensuring their expectations are met for the five varieties of yoga. The classes take 1 hour 45 minutes intervals between them to ensure they cover all the activities that the instructor would have scheduled for the day.

Therapy sections are helpful for various reasons this may include patients with trauma experiences, military rehabilitation for those who were injured during battles, therapy for people with poor eating behaviors, and the people who need counseling on their daily experiences. This section has skilled and professional doctors, psychologists, and nurses who take care of the client with the utmost care and love to ensure they come out better people than they were during admission. The studio also offers therapy sessions for the lifestyle behavior change this is through educating them on the need to practice healthy living by checking their eating and diet behavior.

The organization has training sessions for people who are interested in training to become professionals in yoga. Teachers and trainers are available in the studio to take them through the course and nature them to become the best in their fields of study to be able to help society.

Competitive strategies

The epic Yoga studio carries out promotion and community services, this is a way of returning to society (Liu & Atuahene-Gima, 2018). This ai through conducting healthcare treatment in the community. This includes free checkups for the patients and the community members, visiting children’s homes, and providing supplies to ensure they are well taken care of during their time in an institution.

The pricing of the fee is pocket friendly this helps the organization attract more clients into the studio. The studio provided private lessons, classes, and sessions for clients who are cautious and need privacy during their attendance. The studio provides exercise equipment and clothing that are used in the training session in the studio (Liu & Atuahene-Gima, 2018).

There is a refreshment area where the clients can get food, drinks, and refreshment after the training section hence customer care is of a premium level. Take away are also available for those who are interested in carrying food home no need to strain on your way looking for food stops.

The studio sessions are well scheduled to meet the client’s needs, time and place. The clients come in during their free time hence it’s convenient for the client who has to go to work they can have their session later in the day based on their preference.

References

Abaker, M.-O. S. M., Al-Titi, O. A. K., & Al-Nasr, N. S. (2019). Organizational policies and diversity management in Saudi Arabia. Employee Relations, 41(3), 454–474. https://doi.org/10.1108/er-05-2017-0104

De Pelsmacker, P., van Tilburg, S., & Holthof, C. (2018). Digital marketing strategies, online reviews and hotel performance. International Journal of Hospitality Management, 72, 47–55. https://doi.org/10.1016/j.ijhm.2018.01.003

Dey, S., Sharma, R. R. K., & Pandey, B. K. (2019). Relationship of Manufacturing Flexibility with Organizational Strategy. Global Journal of Flexible Systems Management, 20(3), 237–256. https://doi.org/10.1007/s40171-019-00212-x

Liu, W., & Atuahene-Gima, K. (2018). Enhancing product innovation performance in a dysfunctional competitive environment: The roles of competitive strategies and market-based assets. Industrial Marketing Management, 73, 7–20. https://doi.org/10.1016/j.indmarman.2018.01.006

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