Edit this essay
only $12.90/page

Balanced Scorecard and Communication Plan Jeannie Gilmore Essay Sample

Balanced Scorecard and Communication Plan Jeannie Gilmore Pages
Pages: Word count: Rewriting Possibility: % ()

Market share

Anytime Fitness can increase their market share for the new division by focusing on gaining new customers through advertising online, email, physical promotions (billboards or commercials).

Revenues and costs

The spending on for the new division can be considerably low by shopping for reasonably priced equipment and manufacturing. Profitability

Anytime fitness can boost the profitability of the division by convincing current members of purchasing the program by adding it at a lower price because their member status or offer promotions like test trials to gain interest in the service. Competitive position

Anytime will gain a competitive position by focusing on the unique and rare features that the program has over the competition.

Customer Value Perspective Balanced Scorecard

Customer retention or turnover

One of the main reason Gyms lose members is because the inability to create time to exercise, so Anytime Fitness can use the new program as a retention tool for customers. Customer satisfaction

Anytime Fitness goal is to make exercising convenient, fun, and affordable for customer. And the new division is convenient, fun, and it will be available at an affordable price based on market value of the service. Customer value

By implementing this new service for customers, Anytime Fitness display their value for their customer goals to stay fit in convenient affordable manner.

Process or Internal Operations Perspective Balanced Scorecard

Measure of process performance

The division will be measured by the mistakes or an error that is in the system. I customers are able to work out in their home, without technical difficulty with the software or equipment. Productivity or productivity improvement

This new division will build on the productivity that Anytime Fitness has been conducting. Impact of change on the organization

The change should give the organization a profitable and popularity boost because of the convenience.

Learning and Growth (Employee) Perspective Balanced Scorecard

Employee satisfaction

The new division will provide opportunities for employees to earn incentives for promoting the new service while carrying out their workday. Nature of organizational culture or climate

The nature of the organization is to provide customer with convenient, fun, and affordable service. Technological innovation

The new division is based on artificial intelligence with a virtual character for instructor, with equipment that monitors a person body during workouts.

Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan The method of balanced scorecard is a method that is used by all companies. The balanced scorecard help to develop the organizations’ important objectives, identify key trends, make rational assumptions, and determine the risk associate with the new division. This paper is based on Anytime Fitness new division balanced scorecard and communication plan, which directly aligns with the vision, mission, and values of Anytime Fitness and their SWOTT analysis and supply chain analysis.

Strategic Objectives
Financial Perspective
Anytime Fitness can increase their market share for the new division by focusing on gaining new customers through advertising online, email, physical promotions. Anytime Fitness will also market the program on websites that are heavily populated with consumers looking to discover new information such as Google and Yahoo, and also targeting popular social media sites like Facebook and Twitter. With equipment needed such as smart wristband, digital scale, and the artificial intelligent software; the estimated investment of these products and services can be in a range from $10 million or more. The high cost for the new division can be considerably low by shopping for reasonably priced equipment and manufacturing.

Anytime Fitness will mostly likely look to reduce cost by finding a company in another country with good quality but a lower cost. Anytime Fitness will gain a competitive position by focusing on the unique and rare features that the program has over the competition. There is no program like the online virtual personal trainer, and the main competitive advantage Anytime Fitness gain is its convenience that it provides members. Members can choose to work out from their home, and members that work out at the gym can obtain this program just in case something comes up and causes them to miss their session. The convenience of this service tying in with the fact the gym locations staying open 24/7 creates a significant competitive advantage. Customer Value Perspective

The new division will improve customer satisfaction by providing convenient fun, and it will be available at an affordable price based on market value of the service. The online virtual personal trainer program allows members to pursue a healthy lifestyle, even though they do not have the time to actively do so. Anytime Fitness Mission is to help members achieve their wellness goals and open affordable, welcoming, and convenient locations in new neighborhoods. By implementing this new service for customers, Anytime Fitness display their value for their customer goals to stay fit in convenient affordable manner. One of the main reason Gyms lose members is because the inability to create time to exercise, so Anytime Fitness can use the new program as a retention tool for customers. Members can benefit from this program as well because if they no longer have the time to travel to the gym, and they want to drop their membership the online virtual training program can be an alternate option.

Process or Internal Operations Perspective
If customers are able to work out in their home, without technical difficulty with the software or equipment there will not be many calls to technical support for the service. Monitoring complaints about the service can be a good measure of the new division performance. This new division will build on Anytime Fitness ability to help members meet their goal of wellness in a convenient and exciting manner, and the online virtual training is yet another method members can use to achieve their objectives. The convenience that this division offer customers should give the organization a profitable and popularity boost, allow them to expand globally, and make the company a leader in innovation in its industry. Learning and Growth (Employee) Perspective

The new division will provide opportunities for employees to earn incentives for promoting the new service while carrying out their workday. The new division will draw more customers to the business, whether it is to utilize the online virtual program or become a member of the gym, because Anytime Fitness commitment to provide consumers with schedule flexibility, at an affordable cost, and be an exciting new experience. The new division will start a trend because smart wristband, digital scale, and the artificial intelligent software. Companies will attempt to copy Anytime Fitness model for providing customers with convenient options to stay competitive. Communication Plan

Purpose: The purpose for the new division is offer virtual online personal training services for members who are not afforded the time to participate in training or the other various groups at physical locations. Audience: This program will appeal to businessmen and women in the corporate sector, middle class working families, and members that would like the service just in case personal situations affect their training sessions. Channels of Communication: Every avenue of communication will be utilize however, the market analysis revealed that marketing this service on websites that are heavily populated with consumers such as Google and Yahoo, and also targeting popular social media sites like Facebook and Twitter will generate new customers. The communication will be conducted through advertisements and promotions such as free trials, video examples of how the service work, and more.

Conclusion
Anytime Fitness is in prime position to start up their new division, and the balanced scorecard provides the company with the objectives that are pivotal in making the idea a reality. From a financial perspective Revenue and cost is a concern because of the high cost it required to fund the program, but if a reasonably priced manufacturer is contracted the company will benefit from their competitive position. The new division is convenient for consumers so customer satisfaction can be considered strength for the company, and the new service will aid customer retention. Measuring the performance of the program is not simple, but by monitoring the number of complaints. The fact that the service is innovative and convenient should boost sale and membership applicants for Anytime Fitness. Employees will meet the challenge of promoting the new division because of the incentives they will receive, and company will fulfill its mission statement.

References

ANYTIME FITNESS. (2015). Retrieved from http://anytimefitness.com/ MissionStatements.com. (2015). Retrieved from http://www.missionstatements.com/ Optimum Body, LLC. (2015). Retrieved from http://www.optimumbody.com/virtual-on-line-personal-training-programs/

Search For The related topics

  • business