This article discusses the strategic options of improving business performance and gaining competitive advantage for Real Fit Gym. It explores the use of frameworks such as PESTLE, VRIO, and SWOT to address issues and enhance performance in the fitness industry.
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STRATEGY AND INNOVATION
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Table of Contents RECOMMENDATION...................................................................................................................3 REFERENCES.............................................................................................................................10
RECOMMENDATION On the basis of frameworks which is choose by company such as PESTLE, VRIO and SWOT. There are two strategic option which is suitable for growth and resources are carried out as well as. Strategic Option 1-To improve the business performance Company should use performance strategic option because it supports to improve organization performance, this strategic option supports to remove obstacles which company faces and improve performance. During applying Pestle framework organization faces various problem such as real fit company have to pay high tax due to government change. Foreign exchange rate facilities isn't available in real fitness industry which reduces number of customers in gym. Organization doesn't have proper resources or equipment which accomplishes customers objectives that deceases sustainability of gym rather to other. Company unable to comply with environment law for long period due to eco-friendly products and equipment. eco-friendly products has high cost rather to non eco-friendly products that's why each type of customers unable top pay high cost of products and equipment. Real fit company isn't more famous rather other rivalry companies that's why organization unable to cover large number of customers in gym. These issue reduces organization performance in fitness industry. Pestle analysis elevates organization performance and resolve all issues which organization faces in fitness market. organization faces tax issues due to governmental policies, in that state organization should keep flexible policies which gives values to government as result organization doesn't have to face high tax issues(Sudiyatno and Wibowo,2018).. Beside of this if organization comply with health and safety rules in organization. Organization shouldtake public liability insurance and recruit such kind trainer who posses three or four certificate of fitness. Such kind adaptation of policies improves performance and qualified trainer enables to give proper training to customers. Thus organization can elevate revenue of market share. If organization provides credit card facilities to customers by adaption advance transaction technology as result foreign exchange rate problem resolve out. It becomes easy for customers to pay through by card rather to face exchange rate policies. Beside of this organization can get advantage of economical factor if organization provides addition services such as yoga with gym and aerobics with gym
etc. in combo can elevate financial profit in organization because number of customers doesn't have to pay extra charge for different activities. Real fitness can tempt number of customers from combo offers and get optimized values of services. If organization provides proper equipments such as cycling, automated weight lifters, stream music,monitor hear rate equipment etc. boosts customers confidence to buy training services in gym. Beside of this organization enables to give value to their customers by offering facilities during exercising. If organization provides diet charts along with supplements enhance customers belief on company. Organization can offers hand operating equipments which can utilize by customers during exercise. If organization offers customized supplements which improves customers immunityrather to give side effects on customers health. Thus organization can give value to their customers by gaining their trust and elevate economical scale by offering customized supplements. Customized products strategy improves performance of gym trainer in company which leads effectiveness on customers and rivalry(Grünig and Kühn, 2015)..Real fit gym should occupy eco-friendly equipment in gym which doesn't produces harmful rays.Such kind adaption can improve organization performance in company,if organizationrecruit qualified and certified trainer in organization which can provide assurance to customers regarding their training services. If organization operates gym under governmental rules such as health and safety law, discrimination law and intellectual property law etc. in that state organization can influences brand value in fitness industry and number of customer also attracts and wants to buy training services in gym. It leads beneficial changes in organization operation and performance. If organization offers customized supplements which improves customers immunityrather to give side effects on customers health(Sudiyatno and Wibowo,2018).Thus organization can give value to their customers by gaining their trust and elevate economical scale by offering customized supplements. Customized products strategy improves performance of gym trainer in company which leads effectiveness on customers and rivalry.Real fit gym should occupy eco- friendly equipment in gym which doesn't produces harmful rays.Such kind adaption can improve organization performance in company, ADVANTAGE OF PERFORMANCE STRATEGIC OPTION The main advantage of the performance strategic is to organization enable to change policies which leads advantage from governmental norms. Strategy updates organization about demographical change and rivalry action to achieve customers objectives. Consumer protection
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law which impacts fitness industry and performance can improve by the strategy.organization can overcome eco-friendly product and equipment issues. Due to performance strategic option organization enables to achievehigh revenue in fitness industry. It supports to gain trust of customers regarding services and products. DISADVANTAGE OF PERFORMANCE STRATEGIC OPTION The main drawback of the strategy is that if organization doesn't follow all operation under government laws as result's it can reduce real fit performance in fitness industry. Demographic changesalso gives negative impact on organization because each customer has different age, taste or choices which change according to time. Real fitness is mini gym rather then competitors. That's why organization unable to give proper luxuries to each type of customers. People becomes update for health whichincrease high population of customers in gym but their requirements are different. That why organization can incapable to provide proper facilities in minimum charges. Organization can overcome this problem if organization applies combo pack strategies in gym as result organization can uplift operation performance in fitness market. Strategic Option 2-To gain Competitive advantage and optimum utilisation of resources Competitive advantage and utilization of resources is another strategic option which assists organization to leads positive aspects in company.Realfit organization should choose this strategicoption which assist organization to take competitiveadvantage. It removes obstacles of organization which organization faces in competition market. VRIO analysis strategy analyses industrial environment and address about competition which can give impact on organization performanceIt providessophisticated infrastructure, resources, equipments and training etc. which makes enable to company to take competitive advantage in competition market(Haaker and et.al., 2017). Organization is unable to take competitive advantage because it doesn't have strong brand value. Beside of this organization doesn't have proper resources, equipment and additional services which attracts customers to buy gym services. Organization doesn'thavesuchkindtrainerwhoprovidesassuranceabouttheirservices.Thatwhy organization unable to compete with other gym companies such as pure gym,David Lloyd's and gym group plc etc.
Organization is unable to give value to their customers due to lack of resources. To overcomethisissuesstrategicoptionhelpstounderstandcustomersrequirementwhere organizationprovidesvarioushealthfitnessequipmentlongwithcustomizedservicesto customers. Beside of this organization offers 24\7 gym opening services to customers where any type of customers such as business man, students, female and children's can come according to their time and can take gym services. Thus kind facilities supports organization to cover large number of customers. It also help to give value of their customers. This strategic option also supports organization to addressee about new services which can lead sustainability and can raise brand value. If organization offers unique services like automation equipment, customized product services, life time membership policies, club policies, dance classes and yoga classes etc. can attract large number of customers to buy real fit gym services. Beside of this organization offers international sports services such as tennis, hockey etc. services for those customers who goes top another gym for playing. In that state real fit can attract them for this services(Pandita and Ray, 2018). If organization offers additional combo pack services such as aerobic and dance classes, yoga and weight lifting services etc. at affordable prices. Such kind services increase brand value in competition market and assist to take competitive advantage from competitors. Competitive advantage and optimised utilization strategy guide organization to keep align position in fitness industry. If real fit company offers compensation policy to trainer and keep flexible price strategy in training courses etc. differentiate organization from other fitness companies and it cant imitate by rivalry(Shatskaya,Samarina and Nekhorosheva,2016). VRIO analysis directs organization to promote organization in fitness industry by reviewing customersneedsandtheirexpectationetc.throughtheanalysisorganizationovercomes resource's issues which reduces sustainability in market. ADVANTAGE OF STRATEGIC OPTION 2 Growth and optimum utilization of resource is strategic option two which leads profitable aspects in organizationbecause it give direction to promote company in right way where organization enables to identify customers requirements and their desirousness from gym. Due to the strategy organization enables to available proper resources which facilitate for trainer during giving training. Through the strategic option real fit enables to provides unique services to customers which attracts customers to take purchase gym services. These service differentiate
organizationfromothercompetitorsfitnessindustries.Itelevateeconomicalscaleof organization and leads competitive advantage from competitors. DISADVANTAGE OF STRATEGIC OPTION 2 strategic option two posses drawback which can reduce organization performance fitness industry. For example this strategy gives direction to promote business indifferent region along with additional services which can increase cost of gym services and requires large number of trainer for providing services. Thus organization can get negative drawback in growth. RECOMMANDED ONE OPTION 1 On the basis of above strategic option in which a strategy utilize to redeem organization performanceandanotherstrategytoimprovegrowthofcompanyalongwithoptimized utilization of resources. As far as I think I will recommand performance strategic optionrather than another strategic option because it leads improvement in company position, resources, services and market value. JUSTIFICATION The main reason to recommend performance strategic option that it overcomes whole issues which is faced by Real Fit gym in fitting industry. Performance strategic option examines macro and micro environmental factors which can affect organization, customers who have taken membership of gym and traineras well. Performance strategic option helps organization to enhances services such as group exercise classes in which number ofexercise activities concludes i.e. aerobic, cycling, material art, high intensity training, high yoga, muscle training, stretching and fitness instructor trainer. Beside of this organization gives direction to provide advance services exercise theatre, sports facilities, swimming pool, health clubs. Such kind services doesn't offers by other fitness organization in a single gym. Through the strategic option organization enable to set various price strategy for different type of customers so that they can enabletotakeservicesataffordableprice.Thusthisstrategyenhancelargecustomers engagement to get advantage of combo offers in single gym. Real fit company raises purchasing scale of organization by meeting their objectives. As result company enable to heighten market value in fitness industries. Through the strategic option organization gets economical benefits and enables to promote brand name in various countries. Provides internet services to customers where they can take information about gym services can contact regarding quarries. Such kind technologies
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supports those customers who doesn't have time to search. Through the technology organization enables to recruit for those trainers who possess certificate of fitness along withvarieties in training services.While trainers also get profit to perform themselves as instructor and provides best training guidance. trainer plays important role in gym because he gives assurance to customersabouttheirservices.That'swhyorganizationofferscompensationandhealth insurance policies to trainer so that they get satisfy and provides best training services to customers. Such kind service creates line between real fitness company and other competitors. Organization offers nutrition classes for those customers who wants to gain weight in that state strategic option direct organization to provide high standard qualityproducts which enhance calories but doesn't give any side effects. Trainer gives diet plan to each type of customers and suggest customized supplements which improves their health performance rather than obtain side effect on customers body. This strategy is new for competitor and favours regulatory policies. On the basis of product quality organization gains customer trust regarding their products and diet plan. Thus organization gets economical benefits and gets market position in business market. Intheperformancestrategicoptionutilizespestleanalysiswhichelevatesorganization performance and leads competitive advantage in competition market. Organization faces tax instability issue due to governmental change policies where performancestrategicoptionsupportsorganizationtopossesflexiblepoliciesasresulted organization doesn't have to pay high taxes after changing governmental policies. Such kind policies increase organization economical benefits and Real fit company enables to give gym servicesonwidescale.Organizationfaceslegalissuessuchshealth&safetywhere organization offers health and safety policies to trainerso that trainer and their families get satisfy. Performance strategic option assists company to keep up to datewith regulation which trim chance of injury claim.Organization faces exchange rate issues where Real fit company overcomestoprovidecreditcardandforeignexchangeservicestocustomers.While performance strategic option leads profitability in company by reducing high interest rate and save money due to flexible government policies. Thus organization gets variousopportunity to gives availability large number of equipments whichutilizes customer's services. Through the strategy organization gets economic benefits. Performance strategic option assist organization to know about customers expectation and their reviews regarding fitness services. On the basis of customer feedbacks organization to do changes their services so that customers gets values of
their money. To give profitability of customers organization offers membership scheme at affordable price where customer's gets advantage because they can choose different membership at affordable price. Through the strategy organization enables to give valueeach type of customers. Nowadays peoples becomes health conscious due to social media that's why they want such kind gym services which gives beneficial impact on their body. Beside of this customers wants they get whole services like swimming pool, aerobics, exercise, sports and yoga services in single gym. In that state performance strategic option guides organization to provides whole services in singleplace. Thus Real fit company attracts large number of customers by offering wide scale services by the combo packs. Through the wide scale services organization enable to givevaluestotheircustomers.Customerswhorequiressupplementswhichleadsquick improvement in their fitness. Supplements should harmless which is first requirements of customers. To overcome customer concerns , performance strategic option offers customized productstotheircustomerswhichincreasertrustofcustomersregardingtheirproducts. Organization gets profit from legal factor because government supports real fit company. Customized products or supplement elevates organization performance in industry market. Thus performance strategic option enhance revenueof company in fitness industry. On the basis of additional training services Real fit company elevates economic scale and enables to meet customers objectives.Strategic option leads growth and improves competitive advantage in business market.
REFERENCES Books and Journals Pandita, D. and Ray, S., 2018. Talent management and employee engagement–a meta-analysis of their impact on talent retention.Industrial and Commercial Training.50(4). pp.185- 199. Grünig, R. and Kühn, R., 2015. Analyzing the Competitive Positions. InThe Strategy Planning Process.(pp. 187-206). Springer, Berlin, Heidelberg. Sudiyatno, S. I. and Wibowo, F. W., 2018. Fuzzy VRIO and THES based model of university competitive advantage. Haaker, T and et.al., 2017. Business model stress testing: A practical approach to test the robustness of a business model.Futures.89. pp.14-25. Bleicher, J and et.al., 2019. Virtual business projects in the classroom: Enhancing intercultural and business skills of students. InThe Palgrave Handbook of Learning and Teaching International Business and Management.(pp. 747-768). Palgrave Macmillan, Cham. Shatskaya, E., Samarina, M. and Nekhorosheva, K., 2016. PESTEL analysis as a tool of strategicanalysisininternationalmarkets.SCOPEACADEMICHOUSEB&M PUBLISHING.p.47.