Life's Accomplishments

Life's Accomplishments

Successfully introducing a new business into a competitive market is vital for a long-term growth. Life's Accomplishments is a gym and dance studio located in the central part of four communities. As a new business it is important to know what the business is about and the goals to achieve in the next five years for it to become successful. Life's Accomplishment offers a variety of exercise machines, classes, and dance classes for everyone's individual needs or desires. Life's Accomplishment strategic plan will show the importance of the business vision, mission, and values in determining its strategic direction.

Strategic Management

The business is about putting efforts to make his or her clients feel good about themselves and help give him or her the image they desire. Characteristically the gym is included in hospitality industry. Knowing the right values, vision, and mission the outcome can be successful. Acquiring the right strategy can ensure the businesses success. "Strategic management is a set of actions and decision that result in the implementation and formulation of plans designed to achieve a company's objective" (Pearce & Robinson, 2009, p. 3). Exercise gyms can be costly to some families, Life's Accomplishments main goal is to offer services that meet the criteria every individual is looking for.

Strategic Planning

The long term strategic plan for Life's Accomplishments is the survival for the business, productivity, competitiveness of other business in the area, and daily business pressures. "According to "Strategic Planning for Dummies" by Patricia Olsen: "A strategic plan is a management tool that serves the purpose of helping an organization do a better job because a plan focuses the energy, resources, and time of everyone in the organization in the same direction" (Consador, 2012). Developing the framework of where the business is now, where it is going, and how the business will get there are steps for success.

Functions

Four functions of management will consolidate management in the efficiency support of the gym. Management is a social process involving responsibility for economical, effective planning, and regulation of operation. A dynamic process consisting of various elements and activities.

The four management functions for Life's Accomplishments are shown below (GymBusinessPlan, 2008):

Planning : Strategic planning is a specialized sort of planning. Involves recognizing the current situation of the gym business, plans can be devise and also strategies to achieve those plans. Strategic planning will recognize the probable strategies and prepare the needed modifications.

Organizing : Organizing

...