Strategic Plan Part II: SWOTT
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Strategic Plan Part II: SWOTT
SWOTT analysis is a vital system or tool utilized for anyone either before starting a company or even through the life of the company. SWOTT analysis allows a company to determine where they currently stand in the market they are in and where they can take their company in the future. Knowing the strength, weakness, opportunities, threats, and trends could be the difference whether the company or organization will succeed or be outdone by its competitors. On this paper a SWOTT analysis has been conducted to show the strength, weaknesses, threats, and trends that could impact the future of Power House Gym.
Environmental Analysis There are various outside elements that could influence Power House Gym’s ability to reach it goals and accomplish the mission. In order to succeed Power House Gym will have to determine the proper strategy that could maintain the business. Studying the external environment about the business industry, competition, economic elements, technological elements, demographics, and so on could give Power House Gym an edge to continue succeeding move forward towards its goals. On the other hand internal environment is equally important since it analysis the inside aspects company’s operation, internal guidance and mission (Wise geek, 2003-2014). Performing an internal environment will allow for better understanding of the business operations such as marketing, production, and leaders of the company. Knowing the internal environment will allow the company to design a strategy that could eliminate or minimize risk a company may have.
Legal and Regulatory Businesses and government could be complicated at times since both parties have different agendas. The element mixtures in legal and regulatory play a big factor in the strategic plan and success of an organization. Importance of certain factors such as taxes and availability of skilled or qualified employees could have a tremendous affect. Considering the new division is an addition to the original existing site qualified trainees, nutritionist and staff will have will complete the organization to avoid any legal issues.
Economic
The economic factor will also play a big part with the mission of Power House Gym. Power House Gym is relying on the big expansion of physical fitness and all over the world. However, with the consideration of the current state of the economy. Majority of the world is experiencing an economic downfall, which is another reason why a new division work out videos and recipes will be implemented with a small monthly subscription of anywhere from $10-$15 a month.
External Factors Factors | Strengths | Weaknesses | Opportunities | Threats | Trends | Global | Physical Fitness along with healthy living is an important aspect all over the world | Even with access of videos online not everyone has computers or access internet | Expanding globally is very possible with minimal cost | There are many competitors in the industry and competitors may be able to duplicate the business ideas | Importance of physical fitness and healthy living is still growing globally | Economic | Small amount of capital to implement the new division and still provide quality service | A new concept of physical fitness combining both physical location and adding online presence. Difficulty of determining results due to economic depression | Large of opportunity of growing the brand name and grow the franchise domestically and overseas | Global economic down fall | Higher internet presence and economic recovery is still continuing | Legal and Regulatory | Rules and regulations are implemented to help improve strategic ideas | Rules and regulation could be difficult to monitor when dealing with online exercise training | Awareness of access of rules and regulations could increase trust resulting in more profits | Growing amount of online scams can slow the growth of the company | Access to rules and regulation are becoming more easier to access online | Environmental | Excellent support with qualified and certified employees | Society now a days are always buys convincing people healthy living doesn’t take much time could be difficult | Ability to be able to exercise in any environment | Lack of personal interactions | Growing trend of working out from home | Competitive | New form of service that currently no other gym member ship is offering and 24/7 access to videos and recipes | Could be duplicated by other competitors | Profits from the new division could be utilize to expand business and grow franchise | Besides competition duplicating the service, the competition can grow as well | Physical fitness business has the capability of expanding globally without the brick and mortar | Innovative | Combining physical fitness and healthy living with technology provides better training and service | The addition of new division has the possibility of slowing advancement for employees | Combination of fitness and technology could attract new clients | Coming up with new ideas for exercises could become difficult | Consumers are always looking for something that better and fast affecting | Technological | Quick, dependable and easy to maintain | Not everyone has access to computer or mobile devices due to economic downfall | With the constant growth of technology possibilities of more personal workout online could be possible | Videos could be copied and shared as a torrent file resulting in los of profit | Consumers are always searching for options |

Internal Factors Factors | Strengths | Weaknesses | Opportunities | Threats | Trends | Strategy | Aggressive strategy along with proper marketing campaign will allow for rapid growth | Rapid growth could cause unexpected risk | Continues presence especially through social media flat form | Possibility of not being accepted by other culture, resulting in a slow growing process | Demands for physical fitness is growing especially if convenience can be provided | Technology | Increased in customer service | Needs to be monitored and constant update with security to avoid any risk | With constant growth of technology may be able to provide a more concise training | Competitors may come up with a better idea or developed a better technology | As technology grows its price seems to decrease with it | Structure | A well thought out design structure will increase the new division along with the older one | A mistake on the structure could turn into low moral within the employees, slowing down the process of growth | Proper structure will allow monitoring the progress of the company | Employees could ignore the structure and could potentially hurt the business | Consumers tends to towards a company with a well-placed structure |

Conclusion For any organization to succeed it is important it has to evaluate both internal and external attributes to determine the proper decision for the organization. Power House Gym has challenges and road blocks ahead of them. The SWOTT analysis should provide guidance to help them achieve their goal. Even though there are weaknesses and threats in the SWOTT analysis these can only help strengthen Power House Gym.

Reference
Wise Geek, (2003,2014). What is an external environment analysis? Retrieved from http://www.wisegeek.com/what-is-an-external-environmental-analysis.htm Wise Geek, (2003,2014). What is an internal environment analysis? Retrieved from
http://www.wisegeek.com/what-is-an-internal-environmental-analysis.htm