Strategy formulation for the Phd Health Market (Pty) Ltd franchise group
Phd Health Market (Pty) Ltd was born from the vision of Anton Dupper and Advocate Jan Grobler, to turn a health store in Welkom, South Africa, into a national health franchise in the health & fitness industry. Phd Health Market has a vision to radically change society as a whole by changing nutritional eating and instilling a healthy lifestyle as a whole, which could be easily adapted by all. Phd Health Market is a small developing franchise group, requiring a much needed strategic plan in order to develop into a major role player in the Health industry of Southern Africa and Internationally. The purpose of this mini-dissertation is three fold. Firstly to investigate and determine the process and criteria associated with the strategic planning process from relevant literature and to formulate a process of evaluation for the company. This is done by determining the "building blocks" for a strategic plan as well as the key areas to focus on that will give Phd Health Market a distinct advantage over other players in the health industry and ultimately play a key role in changing the South Africans way of healthy living and thinking. Secondly to determine the state of the company and how it measures up to the formulated strategic planning process. This is done by evaluating the internal as well as the external factors that could have an impact in the short and long term on the company. This evaluation is based on the process made famous by dr. Michael Porter, namely Porter's five forces model. Thirdly to draw conclusions from the comparison between the developed formulation and the actual findings, which would lead to action plans based on the company's internal strengths and weaknesses as well as the external forces that the company may have no control over, threats. The winning strategy must fit the company's external and internal situation, build a sustainable competitive advantage and improve the company performance based on the strategy formulation. The principal sources of information were publications of strategy and strategic planning as well as health orientated companies, industry associations, consultants and the internet. A number of interviews with key stakeholders were also conducted within Phd Health Market. In order to apply the strategic planning process to the Phd Health Market (Pty) Ltd franchise group various informal interviews were conducted with key personnel in the company. Visionary aspects of Phd Health Market were discussed with Adv. Jan Grobler the CEO of the company, while operational and industry aspects were discussed with Anton Dupper. Further recommendation follow that the strategic assessment be performed on an annual basis in order to adapt the action plans plan to the then current situation. The strategic plan should be organically developed on an ongoing basis.