Bounce Fitness: Fitness In Maturity – Business Plan
- December 28, 2023/ Uncategorized
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Task 2 – Performance and Skills Assessment |
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Task summary This assessment is to be completed using the Bounce Fitness simulated work environment. Required · Access to textbooks/other learning materials · Access to Bounce Fitness site via Canvas · Computer with Microsoft Office and internet access Timing · Your assessor will advise you of the due date of this assessment via Canvas. Submit · This completed workbook Assessment criteria For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to complete further assessment to demonstrate competence. You will be provided feedback on your performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task. If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date. You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal. You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment. |
Task 2 – Performance and Skills Assessment
Read through the following case study and then complete all the tasks.
Although Bounce Fitness is known in the local community, it is seeking an extended presence and identity to promote the organisation’s unique approach and lifestyle vision to an older audience. This will include a new initiative called Bounce Fitness: Fitness in Maturity and focus on specifics such as weight, health, and flexibility. You have three (3) months to plan and advertise this new initiative.
Bounce Fitness’s target audience is over 50 years of age and considered ‘old school’. Starting from the initial contact and assessment, these individuals are looking for innovative, effective and convenient solutions for their needs. They may have already heard of Bounce Fitness, but are looking for additional information. They may have weight or health issues or concerns (diabetes, restricted mobility etc.) and have an interest in improving their fitness but have not addressed these needs until advised by their health provider of the necessity. Experience, connections, and quality are important factors in the decision-making process.
The group has limited understanding of computers and does not tend to pursue difficult processes for gaining information online. They have a comfortable disposable income but spend carefully and must-see real value. They tend to read extensively and are large subscribers to newspapers and magazines.
Print advertising will provide information and should emphasise the ‘user-friendly’ and health-knowledge side of the business for the older, less experienced and self-conscious individual. The health assessment and support must be clear as this will provide security and comfort.
The online information will provide profiles, special offers, featured health articles, and company information. It will be mostly a brochure-type site with database origination.
Task 2 requires you to analyse and research the business vision, mission, values, objectives, goals, competitors, financial targets, management arrangements, marketing approaches and strategic, business and operational plans to produce a targeted business plan designed to raise funding and support for the project.
To achieve this, you must complete the following questions using the Case Study and the additional information from Bounce Fitness
You will also be required to conduct independent research.
Part A – Develop business plan
Using the Vision, Mission, Values, Business Strategy, Objectives and Key Performance Indicators analyse and interpret each in relation to the project. How do they meet the requirements of the organisation in each area?
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Bounce Fitness is with the vision to have an extended presence as well as the identity which is required to develop promotion of the firm’s unique method and lifestyle vision to the audience who are older. The mission of the firm is to provide fitness to the population and emphasis on health, flexibility and weight. The business strategy of Bounce Fitness is to deliver optimal fitness products to the customers and effective personal training in comparison to its competitors. As a segment of this particular strategy, the firm prints advertising in a user-friendly way. The firms should emphasis on advancing their marketing mix to enhance spending duration of customers on fitness (Pradeep, Vadakepat and Rajasenan, 2020). The objective of Bounce Fitness is to seek an extended presence and promote the firm’s unique way and vision regarding lifestyle to older people. This will make inclusion of an innovative initiative that is termed as Bounce Fitness. Key performance indicators of Bounce Fitness are: To generate a 10% annual enhancement in sales Enhance penetration of market every quarter They meet the requirements of the firm in each of the areas by increasing the sales of fitness products and wellness programs to the customers. |
2. What are the organisational and legislative frameworks relevant to this project?
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The legislation that develops coverage regarding safety and health of the work region are both territory and state oriented. The legislative framework which is found to be relevant with the project of Bounce Fitness is the Work Health and Safety Act (WHS). The WHS Act 2011 serves as a framework to provide protection to the safety, health and welfare of all the employees at the workplace (OHSA Occupational Health Services Australia, 2022). It also serves protection to the safety and health aspects of other individuals who might get impacted by the works which are performed by Bounce Fitness. All the employees are provided protection by this act, consisting of the workers, contracts and so on. |
Task 2 –Case Study
3. Referring to the organisational Hierarchical Structure, discuss who would be appropriate to consult, how you would consult (include timelines) and your reasoning for consulting with your chosen individuals. These individuals will be your key stakeholders.
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The key stakeholders of the firm are the top level management, employees, senior manager as well as CEO. It is essential to develop consultation with all the stakeholders, because with the help of their joint decision making, the firm can accomplish its objective (Pradeep, Vadakepat and Rajasenan, 2020).. Timeline for discussion is 6 months. |
4. Conduct your own research and report on the market requirements for the Case Study in terms of competitors, customer needs and pricing options.
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The competitors of Bounce Fitness are Fitness 805, New Edge Alliance Inc, Probody Personal training and many more. Youth fitness mentoring programs are situated in Australia (Dunlap 2020). The target customers of the firm are above fifty years of age and are taken into account as old school. These customers are seeking convenient, innovative and effective solutions for their requirements. The customers of Bounce Fitness are mainly having health and weight problems. The health issues that they are having are mainly restricted mobility, diabetes and many more. They are interested in making improvements regarding their fitness and are therefore seeking help from Bounce Fitness. The firm develops differentiation from the buyers via its low pricing options. They are pricing for their community initiatives, organisational partners and social interest teams |
5. Develop performance objectives and measures and discuss how you would gain input from key stakeholders.
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More investment should be made by the firm so that fitness products that they provide to customers become more effective. They take feedback from the buyers and work accordingly to stand in an effective position from the competitors. These are its performance objectives. They take feedback from their stakeholders from online modes. Training is the most preferred procedure to improve organisational performance (Kosova, Beyhan and Kosova 2022). |
6. Outline how you would consult with key stakeholders to discuss your performance objectives and measures, as discussed in Q4, above.
- If you would consult via email, write an email to consult with the key stakeholders to discuss performance objectives and measures. Assume that they reply to your email, and include recommendations from the key stakeholders below.
- If you would have a meeting, hold a meeting with the key stakeholders to discuss performance measures and objectives. (This could be your classmates, housemates, friends. The meeting does not have to be recorded). Include recommendations from the key stakeholders below.
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7. What financial, human and physical resources will be required to implement your chosen option?
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The financial investment that is required is nearly $3000000 per centre. The human resource that is needed is Assistant Manager, Centre Manager and several experts associated with fitness and health grounds. Physical resources that are essential are the diet charts, fitness trainers and companionship who will train the customers. Fitness organisations must continuously improve via training, networking and attaining innovative technologies (Namwambah, Gichunge and Omanwa 2021). |
9. Are there any licenses or permits that will be required to implement your chosen option? If so, describe what these are and how you will obtain them?
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The Industry Code of Practice should be followed by the firm which is established by Fitness Industry of Australia (Fitness.org.au, 2022). |
9. Bounce Fitness already has a business plan (see additional information), However, you are to produce a new business plan appropriate to the Bounce Fitness:
Fitness in Maturity Brief intended to be used to raise funding or promote the venture.
- Description of the business
- Community awareness or branding
- Environmental impact
- Governance
- Products and services
- Quality
- Financial, physical and human resource requirements
- The workforce
- Permit and license requirements
- Marketing activity
- Sales
- Financial indicators:
- Profit and loss
- Triple bottom line (abbreviated as TBL or 3BL) is an accounting framework with three parts: social, environmental (or ecological) and financial. These three divisions are also called the three Ps: people, planet and profit, or the ‘three pillars of sustainability’).
- Productivity and performance targets for key result areas.
- Communication plan
- Answer:
- Answer:
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·Community awareness The firm supports to mitigate varied mental and physical issues of people by making them physically active, therefore helping in community awareness. Environmental impact The firm must examine constructive methodology in order to expand its physical space. Governance The firm should abide by all the fitness and health related rules and make the employees follow them. Products and services Fitness products and training services. Quality Quality of services and products should be optimal. Financial, physical and human resource requirements The workforce Managers, employees, fitness trainers. Permit and licence requirements Industry Code of Practice should be followed. Marketing activity Sales Sales can be increased by investment on advertisement. • Financial indicators: • Profit and loss Profit should be enhanced and loss reduced. • Triple bottom line (abbreviated as TBL or 3BL) is an accounting framework with three parts: social, environmental (or ecological) and financial. These three divisions are also called the three Ps: people, planet and profit, or the ‘three pillars of sustainability’). People: Population should be made fitness conscious. Planet: Sustainable products should be used. Profit: Low price range products should be delivered and with increase in sales, profit will get increased. • Productivity and performance targets for key result areas. Target customers should be made satisfied. Communication plan Print advertising and online data should be used as the communication plan |
You must complete the following Tasks using the business plan you have designed in Part A.
10. How will you communicate the business plan to all relevant parties and ensure understanding of performance requirements and timeframes?
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The plan will be communicated through print advertising, brochure, online data, health assessments and many more (Kaczorowska et al. 2022). |
11. How will you ensure skilled labour is available to implement the plan and how will you manage training if required?
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Through the development of training requirement analysis and the establishment of training plans, team members and managers can recognize skills and information essential to conduct work (Kaczorowska et al. 2022). |
13. How will you test and evaluate the performance measurement systems and refine, if necessary?
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· Benchmark optimal performance measurement provisions · Describe organisational objectives · Develop success measures · Measure results · Conduct actions The performance indicators are also termed as performance measurement system (Ravelomanantsoa, Ducq and Vallespir 2019). |
13. How will you ensure timely reports on all key aspects of the business are available, user-friendly and balanced in terms of financial and non- financial performance?
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Performance evaluation should be used to measure the non-financial and financial performances (Kaczorowska et al. 2022). |
14. How will you report system failures, product failures and variances to the business plan as they occur?
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The identification regarding product and system failures can be done through performance measures and the impacts of them can be mitigated via corrective activities (Ravelomanantsoa, Ducq and Vallespir 2019). |
Respond to the performance data of a business plan. To enable you to achieve this, discuss each of the following points for the business plan that you created and use the ‘Fitness in maturity advertising brief review’ document from Bounce Fitness
15. Analyse the performance reports against planned objectives. Review the performance indicators and refine if necessary. Outline the strengths and weaknesses of the business plan.
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Strength of the business plan is it completely aligned with the concerned organisational goals. Weakness is it focuses to address needs of only older customers and not the others (Ravelomanantsoa, Ducq and Vallespir 2019). |
16. Are any groups or individuals under-performing? If so, how will you ensure groups and individuals who are under performing are coached, and necessary training is provided.
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· Identify issues of the people who are underperforming · Perform meeting · Reiterate work expectations (Ravelomanantsoa, Ducq and Vallespir 2019). · Establish action plan · Make sure daily checkups and follow up · Identify progress |
17. How and with what frequency will you review system processes and work methods as part of continuous improvement?
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Use data to evaluate the outcomes of the change and understand whether or not it has made a difference. The evaluation should be done on a daily basis (Ravelomanantsoa, Ducq and Vallespir 2019). |
References
Dunlap, D., 2020. The Effectiveness Of A Fitness Mentoring Program On Life Skills In At-Risk Youth.
Fitness.org.au, 2022. Fitness Industry Regulation. [online] Fitness.org.au. Available at: <https://fitness.org.au/articles/latest-industry-news/fitness-industry-regulation/45/464/184> [Accessed 20 March 2022].
Kaczorowska, A., Sebastjan, A., Ko?odziej, M., Fortuna, M. and Ignasiak, Z., 2022. Selected Elements of Lifestyle and the Level of Functional Fitness in Older Women. International Journal of Environmental Research and Public Health, 19(4), p.2066.
Kosova, S., Beyhan, R. and Kosova, M.K., 2022. The effect of 8-week plyometric training on jump height, agility, speed and asymmetry. Pedagogy of Physical Culture and Sports, 26(1), pp.13-18.
Namwambah, P.O., Gichunge, E. and Omanwa, C.N., 2021. Antecedents Of Entrepreneurship And Performance Of Small And Medium Enterprises In Fitness Sector In Nairobi County.
OHSA Occupational Health Services Australia, 2022. Work Health and Safety Act 2011 – OHSA Occupational Health Services Australia. [online] OHSA Occupational Health Services Australia. Available at: <https://www.ohsa.com.au/resrouces/work-health-safety-act-2011/> [Accessed 20 March 2022].
Pradeep, S., Vadakepat, V. and Rajasenan, D., 2020. The effect of service quality on customer satisfaction in fitness firms. Management Science Letters, 10(9), pp.2011-2020.
Ravelomanantsoa, M.S., Ducq, Y. and Vallespir, B., 2019. A state of the art and comparison of approaches for performance measurement systems definition and design. International Journal of Production Research, 57(15-16), pp.5026-5046.
