Research Paper on:
Taekwondo Industry and Strategies for Business Management

Unformatted Sample Text from the Research Paper:
which recognizes businesses which may have had to overcome some diversity in order to solve problems in the business world through grit, good management and creativity (Nations Business, 1995). Despite  all of the traditional business management initiatives many companies undertake when opening new businesses such as good marketing and promotion strategies and following the guidelines required by any industry, many  companies still fail in spite of their good efforts. In examining the concepts of business management in relation to the increasing popularity of taekwondo on an international basis several elements  within a business strategy should be considered for business success. One of the first strategies used by those wishing to set up a  new business is the setting of goals. Taekwondo which originated in Korea over 2,000 years ago now has reached popularity at an international level and was accepted as an Olympic  sport in Sydney in 2000. In 1970, it was determined that there were fewer than 35,000 holders of black belts in taekwondo. Twenty-five years later there is an estimated 3  million holders of black belt with an additional 50 million practitioners of the sport at a lower level of skill (The Economist, 1994; BizMove, 2002; Jannot, 1996) When determining a  new business goals, the manager or owner of the business at what level he or she wants to capitalize on the growing popularity of taekwondo. From a small business level,  local taekwondo clinics have been set up across the world which teach small groups of children and adults either city or school based. Some small schools of taekwondo have even  been affiliated within the school curriculum to teach the children mental and emotional balance which they can apply throughout their lives (Wagner, 2000). On a larger scale, some associations, such