For many, Wimbledon means strawberries, Pimms and the start of some fierce competition. But for the All England Lawn and Tennis Club, it marks the pause of their master plan…
The All England Lawn and Tennis Club (AELTC) are the owners of the Wimbledon tennis club. In 2013 they produced their Wimbledon 2020 Master Plan which sets out their key objectives for the next few years. However, the start of the Wimbledon Championships 2018 tournament means that they have had to press ‘pause’.
They confirmed that the purpose of their Master Plan was to ensure that the Wimbledon Championship maintains its reputation as “the world’s premier tennis event”. Once the tournament has finished, ‘play’ of a different kind will be resumed and the final few years will see a large revamp of the Number 1 Court. The aim is to create a better experience for all and works are currently on hold until this year’s competition has finished.
AELTC have created the 2020 Master Plan so that they can also demonstrate that they are progressing and moving forward with the times. After all, Wimbledon is a business. Their investors and those funding the competition will want to see that the company has thought about its future and the future of the championship. They have demonstrated the importance for all businesses to have a clear business plan or list of key objectives in place.
Many businesses will already have a clear business plan in place, but if you do not have this then you may want to consider making one. If a business plan does not suit your business then you may want to consider clearly setting out your key objectives over the upcoming years instead.
The reasons for doing this may differ. It may help you attract key investors or it may help you and your employees understand the key steps and changes you intend to make over the upcoming years. Perhaps most importantly, it keeps your business moving forward, progressing and changing with the markets and industries in which you operate.
You can view details of the No.1 Court Project on Wimbledon’s website.
For further information on business plans and key objectives please contact our Corporate Law Department for more information – call us or email by using the form to the right.The contents of this article are for the purposes of general awareness only. They do not purport to constitute legal or professional advice. Specific legal advice should be taken on each individual matter. This article is based on the law as of July 2018.