Research Study findings of Yoga as the practice of Well-being to Sustaining Business Model.
Author: Shirley M.C. Yeung
Co-Author: Dr. Yogananth Andiappan
The emergence of business usually goes along with new business operations models, demographics change of a country and new demands of customers. Demand chain and supply chain management of product/ service with innovations are worth to explore under technological advancement
Industry practitioners need to be aware of these changes to catch up with the elements needed for generating an innovative and socially responsible business model for sustainable development.
This article is to explore the key elements of a sustainable yoga business model by analyzing questionnaires from respondents who have involved with yoga to a certain extent.
In general, most of the respondents tend to agree in the 17 statements on internal policy implementation, staff management, product/ service development, risk management and customer management in the questionnaires.
13 out of 17 statements got mean scores over 5, which represents “Somewhat Agree”, while 6 and 7 represent “Agree” and “Strongly Agree” respectively. In particular, the respondents generally agreed that the yoga service providers are preferable if they have procedures in place for protecting the rights of customers via providing details of product or service information (Q1, mean score 5.95), comply with the requirements of regulatory bodies for quality (Q2, mean score 5.84), have risk assessment to protect customers (Q4, mean score 5.83), have business ethics training to their affiliates and have clear information of product or service knowledge in package for customers with innovations via use of technology (Q5 and Q6, mean score 5.53).
Indeed, 47.4% of the respondents “strongly agreed” in the first three statements above (Q1, Q2 and Q4), and 31.6% and 36.8% of them “strongly agreed” in the last two statements above (Q5 and Q6) respectively.
This article inspires yoga business practitioners to think about the importance of integrating well being of products/ services, compliance, technology and rights of customers into a sustainable yoga business model.
And, they need to educate customers on the importance of these elements through on-going research and engagement works with the community.
Keywords: Sustainable development, socially responsible, business model
Dr Shirley M. C. Yeung
– Fellowship, CCIBA, 2014
– IEMA approved Sustainability (CSR) Practitioner, 2015
– United Nations (UN) PRME Working Group Member,
The Sustainability Mindset, since 2015
– Nominee, UN Local Change Maker, 2016
– Winner, The 2nd Global Young Leadership Award, Asia Week, 2017
– Winner, Asia Leadership Awards in Innovation, ACKM, 2018
Dr. Yogananth Andiappan
Founder & Director – International Yoga Academy, Hong Kong
Founder & Director – Anahata Yoga, Hong Kong
Honorary Professor – Zhengzhou Normal University, China
Member, The International Association of Yoga Therapists.
Author, Yoga from the Heart