X-Fit Chain Gym Profitability Report And Technological Advancements For Business Productivity

Demonstrate the fundamentals of operating a computer to store, retrieve, analyse and present data.

Describe ways in which information technology can contribute to increased productivity and enhance the quality of management.

Describe the scope of hardware and software currently in use and the technological advances taking place.

X-Fit Chain Gym Profitability Report for January 2018

X-Fit Chain Gym has branches in Enfield, Shoreditch, Deptford, Wembley, Peckam that are located in London. As an accountant in X-Fit chain of gyms, the question that could be raised is that “What is the Gross Income that the club has achieved with the offer that they provide in the peak and off peak season for a membership. Is the business actually making any kind of profit?”  Thus, the study will be done based on this concern and provide steps by step procedure for the report. The report will give the presentation about the membership numbers and fees of the month of January 2018 that contains the complete information about the income that the company achieve and give a brief explanation about the financial situation of the business. In the next section, it will discuss about the benefits of the Microsoft Office for the Productivity of the Business. Finally, the report will contain the three technological advancements for increasing the productivity.

From the report of January 2018, it has found that the business is financially in profit for a total amount of £ 140892. The interesting thing that has seen while delivering the report is that during the Peak season each of the club are in profit for a total amount of £ 1025440. As per the data, the highest profit has achieved by the club of Shoreditch location in both the Peak and Off-Peak season for a total amount of £ 3761114. Thus, in overall out of five locations Shoreditch, Deptford and Wembley were running at a profit whereas Enfield and Peckam were running at a loss. However, when the final report was completed, it is seen that the X-Fit Chain Gym is still running at a profit.

Microsoft Office is a business software that helps in easy collaboration, going mobile, provide facilities to cloud based storage, corporate social network, and provides a real-time communication. It contains Words, PowerPoint, Excel, Access, OneNote, Publisher, and Outlook as a business tools. Microsoft’s business has a large percentage of Office software.

Microsoft Word is a software for word processing. It helps to create professional look for official documents such as forms, letters, drafts, books, reports, booklets, brochures, cover pages, notes and web pages that can be used to print and publish. It is the most productive application for professional to create documents for a work place. It contains some template function that download bills, cash memo, sample of letterhead, receipts, joining letter and various management related type of work. Other than any word processing software, Microsoft Word is very easy and even productive for business works. In any business the user can easily create their business relate documents with the use of Microsoft Word. The businesses can upload their documents or make changes from their own website (Contractor, Dhanaraj and Kumar 2015). Microsoft word even work as a search engine where user can search related words anytime when it is connected to internet. While working with any kind of project and document, Microsoft word is helpful for the team members to collaborate with each other from anywhere at any time but only when the application is use online (Hu et al. 2016). Thus, using Microsoft Word online reduces the cost in business work and helps the team members to connect from anywhere. For some user internet connection is not always possible, in that case Microsoft Word can access files offline and the data get collected in the cache of local device.

Benefits of Microsoft Office for Business Productivity

Microsoft Excel is a platform to perform analysis, calculation, data visualization and information. The application is a very important workplace for business system to organize and process data and information using formulas of rows and columns. The business users can do calculations like financial, mathematical, logical, data analysis, data manipulation and visualize the information. Microsoft Excel is very productive for big or small companies and business owner (Fields and Middleton 2015). The application is useful in business operations like team management, goal setting, account management, budgeting process, calculation of income and expenses, client’s data management, planning, and valuation of product and services. In business, Microsoft Excel are used on daily official operations to get predictable, faster and accurate features like charts, filters, pivot tables, logical and financial formulas, and conditional formulas (Templ and Todorov 2016). With the implementation of IF formula thousands of logic can be created in the business calculation. In above figure it can be seen the basic income and expenses report of the month of January 2018. The column above used this formula: =IF (G15>=258000,” Profit”,” Loss”) make changes in this portion. Users can use even templates such as Marketing Campaign tracker, VAT Invoice, break even analysis and many more in their business calculation.

Microsoft PowerPoint is used to create a marketing plan, system, processes, business plan, organizational structure and execution strategies for any business (Imran, Sharif and Batool 2015). It provides options that specify the most important text or data to present in a meetings or seminar through slides one by one. It helps to create organizational chart and processes, animated marketing video, and animated product and service related movies.

The way to do a business changes with continuous technology evaluation. Here are three technological advancements to increase the productivity in the world of business.

4.1 Productivity:  Use of an Interactive Virtual Bulletin Board Kiosk at the front entryways carry out all notices from the fellow gym members, employees, local event organizers and local businesses (Anthes et al. 2016). With the use of this electronic bulletin board, lost and found items at the gym, daily activities, information for referral program, upcoming events, gym specials, weight loos meetings, staff introductions, and many more will be added to make the interactive easier for the members (Yuan et al. 2015). The feature setup for the kiosks increase the awareness and participation at the entrance for every members. The gym members would love being treated with the best technology at the time of their workout (Schäfer et al. 2016). Kiosks as an item is a perfect setting for overall quality and modernization of the gym. Kiosks allow the visitors to sign up for classes, fill the membership forms, track fitness activities, submit answers of customer satisfaction survey and set some fitness routine or activities or meals that they can try at home or at gym. All this will be accomplished within a secure Kiosk system software.

Technological Advancements for Business Productivity in the Gym Industry

4.2 Collaboration: Today technology has offered various connectivity options in a situation where the person might not be available physically in the club (Chang, Lee, and Ji 2016). Suppose for example, due to some reason the trainer is not available in the club. In that case, technology has provided a number of options for connectivity like teleworking arrangements, he or she can easily interact with the clients and the team to collaborate and continue with the training. Options are available for either real-time or non-real time interaction that allow access to tools and features that can be used in different ways. Today cloud based collaboration is the most effective tools available in the form of advance technology (Ahmad and Waheed 2015).

4.3 Resourcing: Productivity changes in the way the businesses are resourced. The most effective keys used for resourcing is:

Cloud Computing: These resources has a broad range of hardware, software applications and requirements for infrastructure in the storage and power of processing so that it can get accessed online (Calabrese and Cannataro 2015). The business can use this technology to store their fitness data and check through it online anytime from anywhere and improve them accordingly.

Conclusion

With the study done on this report, it has concluded that better use of advance technology increases the standard of life style and work place. It gives better health plus great productivity. Collaboration with the manager and team has also help in connecting people and more members to join the membership. As an accountant, while making the report of the January month, the interesting thing that was seen in the report was that in overall the club has gain profit by the end of the month. Since three of the location has benefited in both the peak and off-peak season. It has now become essential for the rest of the location also to get the benefit in the same manner. Thus, it is recommended to implement new and advance technology regarding the fitness in the gym to improve the quality and productivity of the business.

References

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Anthes, C., García-Hernández, R.J., Wiedemann, M. and Kranzlmüller, D., 2016, March. State of the art of virtual reality technology. In Aerospace Conference, 2016 IEEE (pp. 1-19). IEEE.

Calabrese, B. and Cannataro, M., 2015. Cloud computing in healthcare and biomedicine. Scalable Computing: Practice and Experience, 16(1), pp.1-18.

Chang, H.S., Lee, S.C. and Ji, Y.G., 2016. Wearable device adoption model with TAM and TTF. International Journal of Mobile Communications, 14(5), pp.518-537.

Contractor, F., Dhanaraj, C. and Kumar, V., 2015. Leveraging India: Strategies for global competitiveness. Management International Review, 55(2), pp.159-179.

Fields, E. and Middleton, B., 2015. Rapid-fire business intelligence. White Paper, pp.1-14.

Hu, T., Xiao, H., Luo, J. and Nguyen, T.V.T., 2016, March. What the Language You Tweet Says About Your Occupation. In ICWSM (pp. 181-190).

Imran, M., Sharif, S. and Batool, F., 2015. Evaluating the Constructive or Destructive Role of PowerPoint in Accounting Education. Journal of Accounting and Finance in Emerging Economies, 1(2), pp.69-86.

Mohammed, F., Alzahrani, A.I., Alfarraj, O. and Ibrahim, O., 2018. Cloud Computing Fitness for E-Government Implementation: Importance-Performance Analysis. IEEE Access, 6, pp.1236-1248.

Schäfer, K., Rasche, P., Theis, S., Bröhl, C., Wille, M., Schlick, C.M., Jakobs, E. and Mertens, A., 2016. Age-related Shift in Adoption and Use of Information and Communications Technology. In Proceedings 2016 9th International Conference on Human System Interactions (HSI). Google Scholar.

Templ, M. and Todorov, V., 2016. The Software Environment R for Official Statistics and Survey Methodology. Austrian Journal of Statistics, 45(1), pp.97-124.

Yuan, S., Ma, W., Kanthawala, S. and Peng, W., 2015. Keep using my health apps: Discover users' perception of health and fitness apps with the UTAUT2 model. Telemedicine and e-Health, 21(9), pp.735-741.