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Innovation is necessary for a company to grow. Innovation is "the process of translating an idea or invention into a good or service that creates value or for which customers will pay. To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need". (Innovation, 2016) A company with an accurate business model that consists of creativity in its mission, vision and values will be consistently successful. CrossFit Raeford is a company that provides creativity in its mission, vision, and values. They are always finding ways to innovate their business models, which they base on providing their customers with affordable and convenient CrossFit gym memberships. This paper will give an explanation of the importance of innovation and present a business model for the new division of personal training for CrossFit Raeford.
New Product or Service
CrossFit Raeford will be creating a new service for their members. The new division will be personal training. Members who cannot make group classes or whose specific goals are not met through the general class programming can participate in CrossFit Raeford's personal training program. The personal training will provide members with a workout that is tailor to their physical needs. The personal training program will consist of a certified CrossFit coach who will conduct a comprehensive assessment to define the customer's goals and fitness level. The personal training membership will assist the client through all of their fitness needs by providing coaching and weekly exercise programming that will improve the member's health and also increase their fitness level. The coaches will ensure that the member has proper technique and is properly executing the workout so no injury will occur. The new service will provide CrossFit Raeford new business and allow them to keep their current members who can't make group classes.
Mission Statement
At CrossFit Raeford, our goal is to offer our members convenient and affordable options that will ensure they maintain a healthy, happy lifestyle both mentally and physically. The new division has a separate mission statement from the gym. The mission statement is "a set of organizational goals that include both the purpose of the organization, its scope of operations and the basis of its competitive advantage". (Gregory G. Dess, 2014, p. 25) Our mission statement for the new division is to change lives, have fun and to help our members find their best self. Our new division of personal training will address our customer needs by providing them one-on-one training. The training will ensure that the needs of the member will be met. During their individual training, they will be our priority. Our coach's focus will be on the member the whole hour. At CrossFit Raeford, we will ensure that our members know they are our priority.
Vision and a Business Model for the New Division
It is important for our new division of CrossFit Raeford to create a vision and business model. The business model "is the plan implemented by a company to generate revenue and make a profit from operations. The model includes the components and functions of the business, as well as the revenues it generates and the expenses it incurs". (Business Model, 2016) CrossFit Raeford is a CrossFit and Personal Training Gym at a 3200 sq./ft. Facility with 100 member-athletes located in Raeford, NC. Our mission is to change lives, have fun and to help our members find their best self. Our average client revenue is $125 per month and our last year sales were $115,000. With the introduction of personal training, our sales are estimated to be a blend of about 86% memberships and 14% Personal Training.
It is important for our company also to come up with a vision for our new division. A vision is a "goal that is massively inspiring, overarching, and long term. It represents a destination that is driven by and evokes passion". (Gregory G. Dess, 2014, p. 23) Our vision at CrossFit Raeford for our new personal training division is to be known as the premier CrossFit gym and Training facility in Raeford, NC. We plan to accomplish this through our values of integrity, virtuosity, humbleness, and respect.
How the Vision, Mission, and Value of the New Division Align with the Company's Mission and Vision.
CrossFit Raeford's mission is to provide our members an unparalleled fitness experience to change their life. Our vision is to be the safest and most efficient CrossFit gym in Raeford North Carolina by providing a higher degree of teaching, coaching and mentoring. The vision and mission statements of our new division were implemented to complete and align with the company's vision and mission statement. Throughout the existing division and the new division, our mission statements are similar. Our goal at CrossFit Raeford is to provide our members with the best service they deserve and help them achieve their goals physically and mentally.
How the Vision, Mission, and Values Guide the Division's Strategic Direction
Clear, concise communication of the vision, mission and the core values are required to implement a strategic plan. The guiding values of CrossFit Raeford are the force behind our business. It is important for the coaches to have an understanding of the important philosophies that make up CrossFit Raeford's business model. The owners of the gym must make complex decisions that will allow the core values of CrossFit Raeford to flourish. The vision statement "provides a strategic direction, which is the springboard for the mission and its related goals". (Mission and Vision Statements, 2016) The vision, mission, and values guide an organization on how they can "fulfill or move toward the higher goals in the goal hierarchy". (Gregory G. Dess, 2014, p. 26)
Guiding Principles and Values in the Context of Culture, Social Responsibility, and Ethics.
CrossFit Raeford has many significant ethical principles that guide the critical decisions in the strategic planning process. First, the gym is concerned with offering competitive rates to their members. It is important to keep our prices low and offer military discounts to our active and retired members. Our prices have become especially important as we create our new division in personal training. We want to ensure all of our members can afford it if they need it. Second, our gym is committed to delivering convenient scheduling to ensure our members can either find a group class or schedule personal training. Ensuring our members can attend a group class means that will continue to be a member at our gym. Our members attending the gym ensures that we can help them reach their fitness goals and stay healthy both mentally and physically.
Social obligation and morals are essential to CrossFit Raeford. CorssFit Raeford will work given our morals that incorporate respect for our customer's fitness goals, ensuring they are receiving quality coaching and making a society where members feel like family instead of clients. We will also equally respect our coaches and provide them with mentoring and training. We will ensure that we listen to the input of our members, fix any issues that may arise and surpass the desires of our members. CrossFit Raeford will continue to invest back into the gym by purchasing new equipment and making striving to make the gym the best CrossFit gym in North Carolina. We will conduct our business in a moral way and centered around our code of ethics. We will also ensure that our coaches be aware that he or she has a tremendous influence, for either good or ill, on the education of our members. They shall uphold the honor and dignity of the profession and strive to set an example of the highest ethical and moral conduct. The coach shall not exert pressure on faculty members. CrossFit Raeford will ensure that our business is always carried out in a professional, ethical and moral way. We want to ensure that our members get the best experience from attending our gym.
Conclusion
CrossFit Raeford is implementing a new program in their gym, personal training. Personal training will allow the members of the gym who cannot make group classes or whose specific goals are not met through the general class programming can participate in CrossFit. The new division of the gym will create its mission, vision and business plan that will coincide with the goals of the gym as a whole. The gym will implement a strategic plan to aid in the prospects of growth.