Final Business Model and Strategic Plan

Healthy Place

Alexandra Matamoros

Bus 475

August 25, 2014

Walter Sienkiewicz

	Point Value	Score	Comments
Content
Created an appropriate SWOTT table	20	10	Your SWOTT table is incorrect. There are no strengths or weaknesses associated with an external analysis and no opportunities or threats associated with an internal analysis. There were several other issues with your entries and I have made some comments within your table
Analyzed at least seven factors	20	20	You did attempt to address at least seven factors
Legal & Regulatory forces were addressed	20	15	You need to revisit your legal and regulatory section of your table. Think about the laws and regulations that would affect your business
Identified issues and opportunities	20	20
Mechanics and Style	20
No spelling errors No word selection errors Noun/verb agreement No incomplete sentences Phrasing is clear Material is accurate and correct APA formatting Cover Sheet		15	When presenting a table APA requires that the wording be single-spaced for easier reading

Grade 80%

Introduction

It is quite evident that everyone is interested in a healthy lifestyle, thus we at the Healthy Place is a new business venture aiming at offering a number of therapies that leads to a healthy living. Our main focus at Healthy Place is to ensure that our clients or customers are physically, spiritually and mentally balanced. To achieve this, we offer a number of services and products such as reflexology, cosmetic services, and aroma therapy products which makes customers to be relaxed. Here is a go through of SWOTT analysis of Healthy Place in relation to forces and trends which are; Economic, Legal/Regulatory, Technological, Innovation, Strategy, Structure, Resources, and Culture will be explained.

SWOT analysis table

	External forces and trends considerations:
	Strengths	Weaknesses	Opportunities	Threats	Trends
Legal/Regulatory	Special licensing is not required	Rental insurance for the building is required	Purchasing the building to rent. sponsoring community programs & events I don’t see how this is an opportunity due to any legal or regulatory issue.	Customers can easily sue when serious problems arise because of the products. Meeting regulations would become hard. Meeting regulations is an internal issue, not an external threat.
Global	The business will receive reputation globally	Geographic Coverage	Global Markets ???	Global Markets ???	Online Businesses
Economic	Easily Affordable	Due to economic slump decreased purchasing power of the customers	New product lines will be developed Developing new product lines is not an external opportunity	Slump in economy means customers do not have an abundance of disposable income This is good
Technological	Students with advanced learning in this field will be employed To teach new techniques & tools workshops conducted for the customers	Lack of initial funding will result in renting the equipment	Adaptability to embrace new technology & incorporate it into the business This is not an external opportunity	Competing with the competitors offering more advanced products, services and workshops
Innovation	Appeal for diversified customer	Marketing of the products to the diversified customers	Expansion by giving free massages, & workshops related to new products & techniques	Bring in uniqueness in regard to all products and services

	Internal forces and trends considerations:
	Strengths	Weaknesses	Opportunities	Threats	Trends
Strategy	Appropriate location for the store Easily accessible and approachable	Products and services for everyone Best product at low costs	Successfully grow and expand by offering more than the competition	Better facilities at low prices for the customers at home, better than they get at expensive spas
Structures
Process and Systems
Resources	products & services are cutting edge	Updated and appropriate training to use the techniques and tool to all employees This is not a resource weakness	Efforts to find better quality products, suppliers & value-added products & services	changes in the customers buying habits away from alternative healing for relaxation
Goals
Strategic Capabilities
Culture	Appealing to customers from different cultures “Culture” refers to the internal culture of the organization, not the culture of the community value-oriented culture	Limited finances Poor economy I don’t understand how these are internal weaknesses due to the culture of your organization.	New product lines, different techniques & tools Ability to expand culture	Unable to meet all the cultures

Environmental analysis

Legal/Regulatory

Typically, the legal structure of our business will determine the prices and the purchasing strategy for our products and services offered to our esteemed and potential customers in the industry. Healthy Place is operated as a sole proprietor, thus all assets in the business will be owned by the owner of the business enterprise. As mentioned earlier, this business will need no any special license in order to operate its activities because the business will not sell some of the products such as alcohol and firearms among others which needs a license. However, in order for this business to be legal then it will be registered at the State Department of Revenue and at the same time the business will have to obtain an insurance policy for her employees in order to protect them from work related risks (Niven, 2006). 

Economic

Healthy Place will have to stock its products and services in plenty that is appealing to its customers. In addition to this, Healthy Place will come up with new products and services however the company will have to deal with the economic changes that are being witnessed, thus the business will ensure that her customers are loyal to the business by offering them the best products at affordable prices.

Technological

It is quite evident that, the entire world has been experiencing technological changes thus Healthy Place will not be left behind when it comes to the use of technology. The main challenge faced by this company is competition from other companies in the industry, thus to overcome this challenge Healthy Place will take advantage of advanced equipments such as computers among others. Healthy Place will rent these equipments from well known companies from time to because technology keeps on changing (Mohr et.al, 2010). 

Innovation

When it comes to innovation, Healthy Place will focus in offering products and services to clients from diverse cultures. To this effect, the company will hold workshops for her employees and clients where they will be taught about healthy lifestyle techniques. In addition to this, the company will come up with new marketing techniques in order to make her products well known among customers from all over the whole world.

Strategy

In order for the company to grow and expand a unique strategy has to be designed through which the company should offer those products and services which the customers could not get from anywhere else. The selection of the most suitable and easily approachable location for the store is one of the other opportunities for the company. For this purpose the store will be located strategically in the downtown square so that not only a local college but also different companies in the downtown have an easy access to it. Due to the economy slump the customers do not have a good purchasing power at present and this is the weakness and the threat faced by the company. It’ll have to cope up with this pressure and must make the efforts to overcome it.

Structure

Our business structure is located in downtown and this is the greatest strength because we will be approached with ease by our clients or customers. Although we will need to expand our business structure, the existing structure or building is a starting point because the company will be in a good position to use the available capital to offer her amazing products and services to customers and the profits earned will be used for future expansion. The main threat here is that, in case of a natural disaster the company will not be able to repair the structure because it will depend on the tenant who might take time in repairing it.

Resources

Employees at Healthy Place are the main resources to be utilized by the company because they are rich in knowledge on relaxation therapy. The challenge here is that, the company will have to train these employees continuously in order for the m to gain enough knowledge and skills in their field of specialization. The bank is another main resource because it will lend capital to the company, thus the company will have to budget the loan in order to avoid legal problems with the bank (Hamilton & Webster, 2012). 

Culture

Healthy Place serves customers from different ethnicities, thus integrity and honesty will be important in the company. The company aims at protecting our environment by being accountable to her business activities. Likewise, Healthy Place will embrace people from all cultures and social background by training staff members on hand and body languages of different cultures

Conclusion

Generally, Healthy Place is a new company in the industry and it main concern is healthy living among all people in the United States of America and across the globe. Just like any other business venture, Healthy Place will face a number of threats and challenges; however the company will take advantage of new technology in developing her products in order to attract potential customers. As a sole proprietor, Healthy Place is in a good position to expand to new markets across the globe because of the skilled workforce and the amazing products to be offered by the company to her clients or customers.

References

Hamilton, L., & Webster, P. (2012). The international business environment. Oxford: Oxford University Press.

Mohr, J. J., Sengupta, S., & Slater, S. F. (2010). Marketing of high-technology products and innovations. Upper Saddle River, NJ: Prentice Hall.

Niven, P. R. (2006). Balanced scorecard step-by-step: Maximizing performance and maintaining results. Hoboken, N.J: Wiley.