Companies today are faced with tougher competition in terms of a broad product assortment, more educated consumers and technological advancements. As a consequence, traditional goods and services are no longer sufficient to foster economic growth for many companies. Companies have realized the need for change and have started to add elements of experiences and transformations wrapped around their core product in order to grow. This thesis explores how Experience Economy firms and Transformation Economy firms generates growth by looking into the fitness movement CrossFit to generate insight. CrossFit has grown to be one of the fastest growing fitness trends in the world and consist today of 10, 000 independently own affiliates worldwide. This thesis explores the reasons behind the radical growth of CrossFit and the challenges attach to the growth by applying the method of in-‐depth interviews and observation to generate insight. Based on my analysis I conclude that the open business model, the community and the transformational effect of CrossFit are the main contributions to the radical growth of CrossFit. Further the thesis concludes that the low barriers of entry, the lack of quality control and the risk of CrossFit to turn into a generic sport are the main challenges attached to the growth. This thesis contributes to an understanding of how companies can use elements from Experience Economy and Transformation Economy to create competitive advantage and value creation in the future. Furthermore, it provides insight into how companies can utilize an open business model in order to generate growth.
|Educations||MSocSc in Organisational Innovation and Entrepreneurship , (Graduate Programme) Final Thesis|
|Number of pages||83|