PRINCIPLES OF STRATEGY ASSIGNMENT 1. Introduction
The fitness refers to some specific activities that include various systems of the body and maintain the certain condition of the physical system. This can help to stimulate the fitness in the body. The regular exercise can help to build the body fitness that leads to an active physical system. The health and fitness industry in the UK makes an active footprint in the economic health of the country. The fitness industry of the UK made the peak revenue rate in 2019 by approximately $ 96.7 billion. The fitness industry is dramatically improved in current global events and effectively established the positive macro signals that help to grow the industry.
The country also estimates the health and fitness industry in the UK to hit almost $ 100 billion in 2023. The positive market outperformed the continuous growth that helps to have a positive customer base across the world. The health and fitness industry of the UK consists of approximately 184 million customers across the world along with 3720 gym centers all over the country (Statista.com, 2023). The advanced and improved network connectivity provides streaming capabilities in the country and enhances the experiences of material things. Apart from this the health and fitness industry create significant awareness among people and influences them to physical fitness. Corporate social responsibility along with the PESTLE analysis and porter’s five forces are discussed in this study.
2. PESTEL analysis
The PESTEL analysis helps to understand the external business environment. This environment helps to provide support to the business industry. The effective business revenue rate can provide a significant role in the economic health of the country. The external environment also provides a specific objective to the organization that leads to the effective business strategies for the country. The health of the UK creates a remarkable role in the global business field.
| PESTEL analysis | Factors | Impacts |
| Political | ● The UK government has a political index that is 2.5 strong and -2.5 weak (Gov.uk, 2023)
● The monetary policy meets to the 2% inflation changes ● The country has decreased its revenue rate compared to the previous year.
|
Negative |
| Economical | ● The unemployment rate is changes by 3.7%
● The changes in GDP rate is almost 7.5% yearly (Gov.uk, 2023)
● In November 2022 the inflation rate was reduced by 9.3%. |
Positive |
| Social | ● Increasing of the cultural barrier in the society
● Decreasing of inflation rate ● The population rate changes by 0.4% across the year (Legislation.gov.uk, 2023). |
Negative |
| Technological | ● Improved the technological awareness among people
● Ranked 4th in the global technology rank ● Introduced to the 2.5-time faster-advanced technology usage in the country (Pizzo et al. 2020). |
Positive |
| Environmental | ● The usage of the disposal material is increased
● The temperature issues due to the greenhouse gas effect (Parker & Narayanan, 2022). ● The awareness is increased for the environmental health by NGOs |
Negative |
| Legislative | ● The discrimination rate is decreased by 2% in the country (Legislation.gov.uk, 2023)
● Copyright law improved for citizen ● Improved the health and safety law for the country’s people. |
Positive |
Table 1: PESTEL analysis of the UK
(Source: self-developed)
The external environment health of the country helps to provide support to the business industry. The effective business revenue rate can provide a significant role in the economic health of the country. The external environment also provides a specific objective to the organization that leads to the effective business strategies for the country. The above pestle analysis disciple the stability of the government that effectively supports an increase in the revenue rate of the fitness industry in the global field. The fitness industry of the UK made the peak revenue rate in 2019 by approximately $ 96.7 billion (Statista.com, 2023). The health and fitness industry of the UK consists of approximately 184 million customers across the world. The fitness industry is dramatically improved in current global events through governmental support. The social barrier created the negative impacts on the business expansion rate. The advanced technology of the country provides a new direction for the fitness industry. The fitness industry improved the overall business earning rate through the easy access to the advanced network system.
The advanced and improved network connectivity provides streaming capabilities in the country and enhances the experiences of material things. During the covid-19 pandemic, the country’s people were conscious about going outside as they prefer to work things from home. The strong technology and the positive impact of the advanced technology help people to influence body fitness. They practice their physical activity via network connectivity to the specific organization or trainer, they help to influence and motivate them about body fitness. As per the current demand of the industry, the country is expected to hit almost $ 100 billion in 2023 (Wellnesscreatives.com, 2023). Therefore, the potent support of the UK government helped the expansion of the health and fitness industry.
3. Porter’s Five Forces Analysis
The Porter’s Five Forces Analysis model helps to analyze the exact market position of the health and fitness industry in the UK. The competitor’s business industry creates a high rate of threats in the country field.
| Threats of new entrants | Bargaining power of the suppliers | Bargaining power of the buyers | Threats of the substitute products or services | Rivalry among existing competitors |
| ● Capital investment of the rival company
● The discount strategy of the competitor’s organization or business industry ● The rich product and service quality of the competitor’s business industry |
● Developing the rate of the cost of the supplier of the industry
● The lack of adequate objective material supplier ● Reduction of the cost by the outsourcing supporter of the business |
● Reduction of the switching cost of the consumer
● Focusing on the customer relationship by the competitors in the UK ● Enhancement of the convenience value of the business industry |
● Low rate of the innovative production and service strategy
● Lack of demand fulfillment of the consumer base ● Limitation stock of the objective material along with the less strategy activity |
● The low-cost strategy of the competitors
● Personalized loyalty program of the rival industry ● The copy of the business strategy of the rival competitors in the UK |
Table 2: Porter’s Five Forces Analysis
(Sources: self-developed)
The above Porter’s Five Forces Analysis model helps to analyze the exact market position of the health and fitness industry in the UK. The competitor’s business industry creates a high rate of threats in the country field. It also creates a barrier to the expansion of the revenue rate across the global field (Pizzo et al. 2020). The above model analysis helps to understand the strategy of the rival industry and make a more potent strategy for the fitness industry. provides streaming capabilities in the country and enhances the experiences of material things. During the covid-19 pandemic, the country’s people were conscious about going outside as they prefer to work things from home (Polyakova & Ramchandani, 2020). The strong technology and the positive impact of the advanced technology help people to influence body fitness.
This time the increments of the competitors in the business field enhance the rival activity in the country. It can create negative impacts on the business field. The more revenue rate earned through this time that carte the significant four print on the economic health of the country (Hanna & Markham, 2019). The health industry is also concerned about the alternative business strategy to face the competitors. It helps to maintain the competitive advantage in the business feudal and expand the total benefit business profit. The advanced technology of the country provides a new direction for the fitness industry. The fitness industry improved the overall business earning rate through the easy access to the advanced network system. The revenue rate of this industry creates the peak income across the business field (Parker & Narayanan, 2022). The health and fitness industry mainly focuses to provide better service along with a better supply chain management system in the business field.
4. Corporate Social Responsibility
The CSR activity of the health and fitness industry also includes the effective supply chain strategies along with the business profitability rate in the global field. The CSR strategy helps to make an effective market position in the business industry. The health and fitness industry plays a remarkable role in the business economy. This activity influences the reduction of the disposal of material usage (Hills et al. 2019). The CSR activity addresses a better understanding of the service to the customer base. The CSR responsibility of the Fitness industry is also to help to maintain a competitive advantage in the business field. This can help to make a positive impact on the customer base. The industry also takes steps to maintain the environment’s health and influences people to intake the plant-based protein. The industry also influences people about the awareness of the plant-based protein along with the environmental health. The industry creates the patent footprint and reduces the carbon emission rate. The fitness industry is dramatically improved in current global events and effectively established the positive macro signals that help to grow the industry.
The CSR activity of the health and fitness industry also includes the effective supply chain strategies along with the business profitability rate in the global field (Maani Hessari et al. 2019). The CSR strategy helps to make an effective market position in the business industry. The potent CSR activity helps to make a high revenue rate in the business field. The effective business revenue rate can provide a significant role in the economic health of the country. The health and fitness industry in the UK makes an active footprint in the economic health of the country. The fitness industry in the UK made its peak revenue rate in 2019 (Hawkins et al. 2021). This activity influences the reduction of the disposal of material usage.
The CSR activity addresses a better understanding of the service to the customer base. Corporate social responsibility provides a positive impact to make a loyal customer base it also discovers the effective support of the government to maintain the environment healthy this can make an effective strategy for the distribution service network of the fitness industry. The CSR activity of the health and fitness industry also includes the effective supply chain strategies along with the business profitability rate in the global field (Elmaghrab, 2021). The CSR responsibility of the Fitness industry is also to help to maintain a competitive advantage in the business field. This can help to make a positive impact on the customer base.
5. Conclusion
The report is based on the principal strategy that discovers the strategy and the business analysis of the health and fitness industry of the UK. The health and fitness industry in the UK makes an active footprint in the economic health of the country. The fitness industry is dramatically improved in current global events and effectively established the positive macro signals that help to grow the industry. Corporate social responsibility along with the PESTLE analysis and porter’s five forces are discussed in this study. The fitness industry of the UK made the peak revenue rate in 2019 by approximately $ 96.7 billion. The health and fitness industry of the UK consists of approximately 184 million customers across the world along with 3720 gym centers all over the country. The advanced and improved network connectivity provides streaming capabilities in the country and enhances the experiences of material things. The PESTEL analysis discredits the stability of the government that effectively supports an increase in the revenue rate of the fitness industry in the global field. The external environment health of the country helps to provide support to the business industry. The effective business revenue rate can provide a significant role in the economic health of the country. The Porter’s Five Forces Analysis model helps to analyze the exact market position of the health and fitness industry in the UK. The competitor’s business industry creates a high rate of threats in the country field. The corporate social responsibility of the health and fitness industry is discovered in this study.
References
Elmaghrabi, M.E., 2021. CSR committee attributes and CSR performance: UK evidence. Corporate Governance: The International Journal of Business in Society, 21(5), pp.892-919.
Gov.uk, 2023. Welcome to GOV.UK Available at: https://www.gov.uk/ [Accessed on: 11/02/2023]
Hanna, E.S. and Markham, S., 2019. Constructing better health and wellbeing? Understanding structural constraints on promoting health and wellbeing in the UK construction industry. International Journal of Workplace Health Management, 12(3), pp.146-159.
Hawkins, B., Durrance-Bagale, A. & Walls, H., (2021). Co-regulation and alcohol industry political strategy: A case study of the Public Health England-Drinkaware Drink Free Days Campaign. Social Science & Medicine, 285, p.114175.
Hills, S., Walker, M. & Barry, A.E., (2019) Sport as a vehicle for health promotion: A shared value example of corporate social responsibility. Sport Management Review, 22(1), pp.126-141.
Legislation.gov.uk, 2023. Legislation.gov.uk Retrieved from: https://www.legislation.gov.uk/ on: 11/02/2023
Maani Hessari, N., van Schalkwyk, M.C., Thomas, S. & Petticrew, M., (2019). Alcohol industry CSR organisations: what can their twitter activity tell us about their independence and their priorities? A comparative analysis. International journal of environmental research and public health, 16(5), p.892.
Parker, L & Narayanan, V., (2022). Readdressing accountability for occupational health and safety in a pandemic era. Meditari Accountancy Research.
Pizzo, A.D., Baker, B.J., Jones, G.J. & Funk, D.C., (2020). Sport experience design: Wearable fitness technology in the health and fitness industry. Journal of Sport Management, 35(2), pp.130-143.
Polyakova, O. & Ramchandani, G., (2020). Perceived service quality among regular users of gyms in public sports centres in the UK. Managing Sport and Leisure, pp.1-20.
Statista.com, 2023. Fitness industry in the United Kingdom (UK) – statistics & facts Retrieved from https://www.statista.com/topics/3411/fitness-industry-in-the-united-kingdom-uk/ on: 18/02/2023
Wellnesscreatives.com, 2023. 2022 Fitness Industry Report – Fitness Market Report 2022 Retrieved from https://www.wellnesscreatives.com/fitness-industry-statistics-growth/?gclid=Cj0KCQiA6LyfBhC3ARIsAG4gkF9Of3Q7dim7CWOyNwyJ4eyxdLKX3DtUB76zTxvY8RvvcG2YgHNSYygaAtLBEALw_wcB on: 18/02/2023
Know more about UniqueSubmission’s other writing services:
