ACCG308 Corporate Accounting And Reporting

Question:

Answer:

Case study 1

Actionable improvement

Laptop hobos – this term is used to offer power outlets and free Wi-Fi to the people who make heavy use of the laptops while visiting the coffee shop. It will be nice if they provide customers with great experience like comfortable seating, free Wi-Fi and ample number of power outlets. 

Try games – it will not be preferable for any coffee shop that the customer will just order one cup of coffee and occupy a table for hours and will use the free services like Wi-Fi. It must introduce some games like board games, puzzles and other similar games for small price. It will attract more customers and at the same time will generate revenue to the café (Chee et al. 2014).

Suggestion

Apart from serving coffee and breakfast in the morning, the business may think of starting wine to the menu for the people who are visiting in the evening.

Case study 2

Actionable improvement

Efficient employees – the business must engage the employees who have better knowledge about the app and technologies. Unless the employees have better knowledge, they cannot contribute to the improvement of the company

Reduction in charge – the cost for the app shall be competitive enough to beat the competitors. Therefore, the business must carry out  proper market research before setting-up the price (Nenortait? and Butleris 2015).

Suggestion

As there are frequent changes in the behaviour of the customer, therefore before developing an app the customers view and preference must be taken into consideration.

Case study 3

Actionable improvement

Refresh the customer services – the owners of independent gym used to do multitasking. The clients in the gym may be greeted with smile and can be referred to someone who is making extra efforts in the gym, so that he can get the motivation.

Soliciting the feedback from the member – as per the study, it is revealed that it costs at least 10 times extra to attract a new customer as compared to keeping the existing one. The existing customers can be asked questions regarding their interest, satisfaction level and preference for new things (Fridgen et al. 2015).

Suggestion

As the step ins in the gym are highly depended on the demography of age, the gym shall start something for each age group, so that the people from each group feel interested to step into the gym

Case study 4

Actionable improvement

Additional service – apart from the accounting service, the company can start providing other additional service like actuary services and investment planning services to the client. It will assist the client as the accounting firm will already have better knowledge of the  client’s business

Reduction in fees – the company can offer additional services with reduced cost as compared to its competitors. They can also introduce the service package to enable the customers to get more services at reduced prices (Lhannaoui, Kabbaj and Bakkoury 2014).

Suggestion

As the competition in this field is high, the company must use some innovative software and services to attract the clients and make themselves different from the competitors.

Reference

Chee, C.H., Yeoh, W., Gao, S. and Richards, G., 2014. Improving Business Intelligence Traceability and Accountability: An Integrated Framework of BI Product and Metacontent Map. Journal of Database Management (JDM), 25(3), pp.28-47.

Fridgen, G., Klier, J., Beer, M. and Wolf, T., 2015. Improving business value assurance in large-scale IT projects—a quantitative method based on founded requirements assessment. ACM Transactions on Management Information Systems (TMIS), 5(3), p.12.

Nenortait?, J. and Butleris, R., 2015. Improving business rules management through the application of adaptive business intelligence technique. Information Technology and Control, 38(1).