Strategic Plan for GNC
General Nutrition Companies Inc., was founded 65 years ago in Pittsburgh, Pennsylvania on the premise that Americans wanted to maintain control over their health. David Shakirian founded the company. In 1935 he launched a dream of his by establishing a little health food store in Pittsburgh, Pennsylvania. He called it Lackzoom. The products that were offered at his store included yogurt and healthy foods such as honey, grains and healthy sandwiches. The concept of being a health store and serving health food was thought to be a fad that would soon pass over back then. To the surprise of many of Shakarian's critics, many people embraced Lackzoom. David and his store came a long way from its first day's receipts of 35 dollars to open a second store six months later. Since those first two stores, Lackzoom, which is now GNC, has grown to be the largest manufacturer of vitamins and mineral supplements in the United States (1998 Annual Report). General Nutrition Companies, Inc., collectively with its subsidiaries, is the only nationwide specialty retailer of vitamin and mineral supplements, sports nutrition products and herbs, and is also a leading provider of personal care, and other health-related products. The
The biggest weakness facing GNC in the coming years is that the company faces the challenge of protecting their workers intellectual property. In the present to protect the company's intellectual property they rely on a combination of patent, trade secret, copyright and trademark laws. However, the company cannot guarantee that these measures will be adequate to prevent the company's competitors from copying or reverse-engineering the company's products. If this would happen the company is set-up to lose millions of dollars as well as the all important market share. Government regulations pose an enormous threat to the company. Potential government regulations will mandate FDA regulations and the testing of all products. This will dramatically increase the cost of production, which will ultimately be passed on to the end consumer. Some sport and diet supplements sold by the company today could be ruled illegal in the coming months if this occurs. This could potentially reduce the number of products available as well as the customer base. 1. Our ability to obtain additional financing for working capital, general corporate purposes could be impaired in the future.
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Approximate Word count = 3583
Approximate Pages = 14 (250 words per page double spaced)
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