Business Strategies of an Organic Spa Business - Example

University’s Name Submitted By Name Tutor Date Contents Business Plan 3 Purpose of a Business Plan 3 Business Plan of an Organic Spa Business 3 Executive Summary 3 Mission Statement 3 The Vision Statement 4 Business Objectives 5 The Objectives of Organic Spa Business 5 The Management Team 5 Product and Service Process 6 The Market 6 Marketing Research Techniques 7 The Marketing Strategy 7 Business Operations 8 Risk Factors 8 The Financial Forecast 8 References 9 Business Plan A business plan is an official statement of goals in a business, ways of attaining them and the plans that helps in achieving them. A business plan should contain background facts about the team or organisation in an attempt to reach its goals (Chen, Yao& Kotha, pp.199-214) Purpose of a Business Plan The primary source of a business plan is to help the managers to run their organisation in a more organized mission. This is through helping analysing a plan for sales, marketing, designing and manufacturing. A business plan also serves as a management tool which can be regularly referred to so as to ensure that the organisation is on course with meeting its expected sales policies, operational indicators and also its goals and objectives. Business Plan of an Organic Spa Business Executive Summary The business plan is entailed on organic spa business, which is an organisation that offers beauty products which are organic (King, Anderson, Blackmore, Blackwell, Lautner, Marcus, Meyer, Monath, Nave, Ohle, & Pappaioanou, M., 2008. pp.259-261). As of other businesses, the organic spa organisation main goals is to offer products of good quality to their customers at the right time and be able to gain the customers loyalty therefore being able to survival in the market. The organic spa business has another key goal which is to realise profit in the end run of the business operation, an essential element for the survival of every business in a particular market. In this business plan, the competitive factors and ways to survive this are also discussed, the roles of the management team are also worked on inclusive of the market itself and the market strategy. It also entails risk factors and SWOT analysis associated with the organisation, the operations and objectives of the business. And lastly just like any other business plan, the financial forecast of this business will also be worked on. Mission Statement The organisation is best suited to serve as an example in environmental responsibility and leadership not just in the world of beauty but also in in the world as a whole. Therefore the mission is to care for the world diverse individuals live in through the ways products are offered to the ways the same products are giving back to the society. The other mission of the organic spa business is to touch as many people as possible through the services provided. To enhance this, the services provided are of ultimate customers experience and should be able to enhance the health, well- being and peace of mind of its customers (Toftoy &Chatterjee, pp.41-44) The Vision Statement The vision of any business dealing with organic products like the organic spa salon is to be able to come up and also be able to maintain a universe which is much friendly to the spa environment and also provide a nice experience for its clients where they feel nice from the first time they set their feet in the spa salon. Business Objectives The Objectives of Organic Spa Business The main objective of the organic spa business is to continually have an increase in sale therefore being able to raise the revenue of the country the business is operating in To provide conclusive proficiency and proper advice plus fair admissions to the health sector and other stakeholders by providing an offer which is environmental friendly Protecting its admission and the customers (Doyl, pp. 123-132) Realise profits by the end of the second year before taxations Self-establishment as a community destination where various clients can easily purchase products from and not from others hence posing a competitive challenge Easily work with its staff and the stakeholders to further their education hence encouraging good and healthy practices in products production for the customers The business should also be able to provide straight support to its customers by providing answers to individual questions To provide adequate guidance and proper advice to its product consumers Generate best ways of bringing consultants together and share the good practices through continuous broadcasting of its good practices through the diverse channels of communication The Management Team It’s very essential for a business to have a management team which is responsible in governing the normal running of a business and be able to drive it to realise its particular goals and objectives (Bunderson &Sutcliffe, p.552). To begin with the chief executive officer is the boss of every organisation and she is also responsible for everything in the organisation. The CEO’s are responsible in determining the business strategy. The chief executive officer should be highly skilled since them is bestowed the ability to run the business and a prediction of where the business will be in the years coming. A chief operating officer is another individual in the management team; she is responsible in handling the complex operational details of a business. The chief operating officer also ensures that the business is able to deliver products and services days after days. The president is also important personnel in the management team, she is responsible in overseeing the functions of the staff, finance and the human resource, the president also fills the CEO and COO gaps in their absentia. The chief financial officer (CFO) is responsible in handling finance in many businesses. They are reliable in making financial strategies and also budgets creations, financial officers are responsible in making decisions for a business to either buy or lease and in turn they come up with control systems responsible in monitoring the financial health of a business. A chief marketing officer (CMO) is an expert in marketing who is responsible in positioning the products of a business differently from the products of its competitors this is attained by her being able to fully understand the industry in which the business is operating. Another management team is the chief technology officer (CTO), such individuals should keep up with technology and the changing trends and be able to fix those particular trends into the business and also make sure the business is at per with the evolving technology. Product and Service Process This is also referred to as the new product development process; to begin with the ideas of producing certain product like the organic skin care is generated considering its demand in the markets( Yeon Kim& Chung, pp.40-47). Secondly the generated ideas about the skin care product is screened so as to identify the productive ideas which will aid in outdoing the available competitors and be able to capture the market range After screening the idea, the concept is put into test apart from clear designing and research and other legal requirements involved in product development, the biggest part of testing a concept is by knowing where the concept will actually work best. During the process of developing the skin care product, it is important to generate a metric system which is responsible in monitoring the product process, then the marketability tests is another step which will provide valuable information which will in turn give space to the last improvement of the product. The Market This is the market place where final products and services are presented for purchase by various customers, other businesses and the public sector. The product market mainly focuses on the finished goods and not the intermediate or raw products. The organic spa products are good for every person regardless of their age or size, but mostly the products are of great importance to individuals over the age of Forty-Five who are more vulnerable to products containing chemicals which pose a great health effect to such individuals. The (USP) or in other words the unique selling preposition is an important factor that a successful business owns which helps the organisation to be much different and also be able to perform better than other businesses in the market. The unique selling preposition is also an important method of campaign that helps in differentiating a certain product from competition in circumstances where the market is providing similar products and services. The organic products faces a great competition from businesses that deals with products which are non-organic, such business tend to convince their consumers to use their products claiming that such products have no or minimal chemicals which is not true. Marketing Research Techniques This is term majorly used to refer to the processes of collecting and gathering information about both the market and audience which is being targeted. Its main role is to provide an in depth view of the customers for the business organisation. The market research techniques are divided into two this being primary and secondary techniques. The primary market research also known as the field research, is done by the business itself with the key objective of gathering important information that can be used to improve the functions, services and products of that business. Primary information is gathered through both qualitative and quantitative research methods. The primary research method is the most valued and maximum common type of market research method used. The secondary research method is a technique that does not focus on information gathering from the roots but it focuses on the already available information that was collected by different people from diverse sources. The secondary research technique gathers information or data from newspapers, magazines, internet, government and office data. The outstanding advantage of using the secondary market research technique is that it takes very minimal time to gather and limited expenses as compared to the primary market research technique where a lot of time and resources are required for the information to be found from diverse sources. The Marketing Strategy Just like other businesses, the Noon beauty centre in Doha Qatar, is the existing organic spa business in Qatar which highly depends on the customers loyalty and the word of mouth and also a best public relations so as to be able to survive in the market. The first essential step in coming up with the Noon beauty centre strategy was through determining the need and demands of the market place, this is much important since it aids in generating a competitive services. A marketing strategy should also be able to analyse not only the various services the consumers are seeking for but also the benefits consumers gain after using the product offered by the beauty centre (Peter, Olson &Grunert, pp. 122-123). The Noon beauty centre is also advertised through other means like the internet but the most effective form is through the word of mouth simply because the producers can be read to the customers mind and understands their preferences as compared to the other means like the using of website. For an effective advertisement of the products offered by the beauty salon, the business should focus on the demo graphs of the desired customers such as the geographical area, age and parental status so as to choose the right mode of product advertisement. Public relation or (PR) is the act of managing the flow of important information about the products and services being provided from the Noon beauty salon to the public. Public relations mainly consist of that business gaining exposure to their consumers through using topics on public interests. The objective of public relation by a business is to persuade the public, partners, investors and employees to maintain a positive point of view of both the products and services that the spa salon is providing. Business Operations Business operations entail three key management imperatives that jointly aim in maximising the value that has been harvested from the business products and services. These management imperatives are recurring income generation, increase in the value of products and services and lastly securing the value and income of the business. These operations also entails training the organic spa personnel, which is essential in providing adequate knowledge to the working staff hence enabling them offer quality products and services Health and safety measures in the organic spa business are also entailed in the business operations, on addition there are also banking arrangements which enhances safety cash keeping and reliable places to get loans for this business when needed. Risk Factors The strength of the organic spa salon possesses a strong customer management as well as good operations therefore having an advantage over other salons providing similar products. The weaknesses associated with organic spa salons that might lead to their closure is having limited space for parking vehicles for clients, and it being located at a place which is not easily recognised hindering clients from getting services from it. The time to time changes in the hair styles and trends possess an essential opportunity for the growth of the business. There are also threats for organic spa salons which are changes in law and emerging of new salons offering the same services, the best way to deal with the new business is coming up with tactics to counteract the business. The PEST (political, social and technological factors) helps the organic spa salons’ managers to understand the environment in which the business is operating and use them in minimizing any form of threats or risks associated by the business operating. The Financial Forecast Financial forecast in organic spa business is a monetary management tool that helps in presenting assessed information based on the past, current and predictable financial conditions (Everett& Watson, pp.371-390). This tool is essential since it helps the organic spa to be able to identify future expenditure and revenue trends that may have an instant or long term impact on strategic goals, government policies and more so community services. References Bunderson, J.S. and Sutcliffe, K.M., 2003. Management team learning orientation and business unit performance. Journal of Applied Psychology, 88(3), p.552. Chen, X.P., Yao, X. and Kotha, S., 2009. Entrepreneur passion and preparedness in business plan presentations: a persuasion analysis of venture capitalists' funding decisions. Academy of Management Journal, 52(1), pp.199-214. Doyle, P., 1994. Setting business objectives and measuring performance. European Management Journal, 12(2), pp.123-132. Everett, J. and Watson, J., 1998. Small business failure and external risk factors. Small Business Economics, 11(4), pp.371-390. King, L.J., Anderson, L.R., Blackmore, C.G., Blackwell, M.J., Lautner, E.A., Marcus, L.C., Meyer, T.E., Monath, T.P., Nave, J.E., Ohle, J. and Pappaioanou, M., 2008. Executive summary of the AVMA one health initiative task force report. Journal of the American Veterinary Medical Association, 233(2), pp.259-261. Peter, J.P., Olson, J.C. and Grunert, K.G., 1999. Consumer behavior and marketing strategy (pp. 122-123). London: McGraw-Hill. Toftoy, C.N. and Chatterjee, J., 2004. Mission statements and the small business. Business Strategy Review, 15(3), pp.41-44. Yeon Kim, H. and Chung, J.E., 2011. Consumer purchase intention for organic personal care products. Journal of consumer Marketing, 28(1), pp.40-47. Read More