We know that there a lot of people out there who would rather talk about steaks than stakes, and there are a whole load of others who would rather be talking about shares as well. But this article is going to be about stakes and stakeholders.
In the world of health and fitness people can often be a victim of wearing blinkers and only seeing what’s right in front of them.
As much as anyone in this industry, we have been guilty of that in the past, but if we weren’t constantly trying to take their blinkers off then we’d be doing a lot of people a disservice.
We are very open and honest about our values as a company and use them to guide any decision making process that we are a part of.
Until now we’ve never seen a label that explains what we do and why we do it.
As a company, it is obvious that there are shareholders, but our decisions have never been about maximising the shareholders profits, they’ve always been about helping out a much wider group of people. Profit alone has never been considered the sole measure of business success.
This whole concept is explained as Stakeholder Theory.
At its core, Stakeholder Theory, hinges on the idea that a company is only successful when it delivers value to its stakeholders, rather than being solely tied to the amount of money it generates.
So who are our stakeholders?
There is some argument in the research about who exactly is a stakeholder in a business as the list grows longer, but for our sake, we consider our stakeholders to be:
The owners of Second City
There is no business without them after all!
The staff at Second City
Happy staff is always a good thing in any business!
The customers of Second City
Happy customers make the world go round!
All the friends and family of everyone connected to Second City
Indirectly these people need to be satisfied to make sure that the people directly involved are happy
The competitors of Second City
Healthy competition drives everyone to be better
So, to sum it up we’re trying to make the world a better place both inside and outside our walls. As we aim for that we’re confident that a whole range of people will benefit and that’s what keeps us going. Decisions are simplified when questions are framed around the benefits that will be brought to one or more groups of our stakeholders.
By reading this you are already a stakeholder in our success, but if you think that you’d like to be a bigger part of a gym that consistently aims to:
- Have happy staff
- Enhance the lives of all our customers
- Raise awareness of the benefits of health and fitness
- Make health and fitness more accessible to more people
- Inspire other gyms and health and fitness providers to provide a better service to their clients