The main purpose of the report is to understand the increase in the business productivity of X-Fit Chain Gyms. X-Fit Chain Gyms is located in London and have their branches in multiple location in and around London. The report has a business scenario were in the account department as an accountant the role has been given to do two different task. The first task is to provide information about the gross income that has been generated by the gym membership of Off peak and Peak and after calculating the gross income has to find out which gyms are the most profitable. In the second task, discuss about the increase in business productivity and enhance the management with the use of Microsoft Office to the manager. The report also describes the use of advance technology in the world of business with the future trends to improve the experience of the member of the X-Fit chain Gyms.
The above spreadsheet has stored and analyze the data of X-Fit Chain Gyms Club and provide the report of the month of January 2018. According to the report, financially the Club is running in profit of £ 1401894. The interesting thing in the report is noticed that in peak season the club seems to be more profitable as compare to off-peak season. However, the X-Fit Chain Gym is making the overall profit by the end of January 2018.
Microsoft has published in a research that productivity of the business increases by 30 to 40 % based on the business office work which is no longer constrain (Al Horr et al. 2016). Office 365 is the advance feature of Microsoft through which business get mobile and increase in productivity (Steelman, Lacity and Sabherwal 2016). Office 365 address the key capabilities to do business anywhere. There are several ways to increase the productivity that are discuss below:
OneDrive Cloud hosting Services: With OneDrive hosting service in the cloud of office 365, Microsoft’s give access to business projects and email for 24/7/365 days (Murthy and ErBedreHeeramani 2016). There is no worry of operational interruptions or incidents or office closure. The user can respond any request, meet deadlines and be competitive from anywhere.
Industry Standard and regulation: Data is encrypted and store on physically secure server of Microsoft’s that are protected with security monitoring and continuous threat management. In the year 2014, Microsoft was the first cloud provider that focus on data protection regardless of where data is stored (Rahimi et al. 2014). Office 365 is accessible on multiple devices. The license of user can sync to at most five different devices. It can be iOS, Android, PC or Mac and Window devices where the user can have a video-conference, edit presentation or check their email from anywhere.
Office 365 have all the latest version of software and application with Excel, Word, Outlook Power Point and SharePoint.
Microsoft SharePoint: SharePoint is the latest application where user manage the project, collaborate with team and share documents in real time. The cloud storage of Office 365 get 50 GB storage for exchange mailbox, and 1TB for file storage (Sowmya, Deepika and Naren 2014). Large and critical files are store and back up online to get it access from anywhere. The team collaborate in the ongoing project with the latest version of SharePoint. In the share point the user can design and automate the workflows, build business tools such as Intranet, blog or company survey, plan and monitor projects with share calendars, and it connect and create with the feature of SharePoint video-conference and co-authoring.
Private social network (Yammer and Skype): Office 365 has design a private social network for businesses. Through Skype and Yammer, communication increases on social level and a strong sense of employee improve engagement and productivity that remain consistently high. Through Cloud Direct user can vouch personally and make use of Skype and Yammer for the purpose of business (Shabbir, Ghazi and Mehmood 2017).
Selection of Microsoft Office 365 plan: The user can select a subscription plan for Microsoft Office 365 of their own choice and customize the features based on the size of the business and their needs.
Thus, Microsoft Office 365 can save the costs on travel, hardware, software, and IT support. In the 2014 survey report of HBR-Verizon, UK companies had moved 2/3rd of the data and email to cloud that is 61% productivity of the employee increases (Anderson et al. 2014).
In X-Fit Chain Gyms, technology has a growing impact on the business. The transformative impact of technology on the fitness industry will start to develop or continue to develop in future. In this paper, three advance technologies will be discussing to improve the productivity of the business.
4.1 Wearable:
Wearable tech is the most interesting fitness technology for the recent year (Rich and Miah 2017). The X-fit Gym wearable market could be a well-established to challenge the market leader such as Jawbone, Fitbit and many more. The present year of 2018 can be an interesting year for the X-Fit Chain Gyms with the use of wearable tech. As the value of the industry have estimated to reach nearly $6 billion by moving into the wearable space (Page 2015). The Gym can have a heart rate tracking that has integrated into the fitness clothing and a smarter sensors integrated into the mobile phones. It gives a best user experience.
4.2 Internet of Things (IoT):
Cloud technology bring the concept of access-anywhere concept so that user can approach to it easily. In the past study, it was found that the fitness industry were slow to adapt this technology. By 2017, a huge effort where made to step forward and hopefully the trend will continue with the cloud-based technology and it will become a standard over the on-premise software in the coming year (Prayoga and Abraham 2017). In an article it has studied that 84 % of the businesses has already operated the cloud (Moura and Hutchison 2017). Therefore, it could be a good option for the X-Fit Chain Gyms to use it for the development of their business.
4.3 Online/Virtual coaching:
Providing online coaching that offers digital meeting with the client is an advance technology for the business world. Engagement of the member is getting easier with the use of cloud as it provides the feature of communication that offers digital meeting with the client and reduces the need of in-person physical coaching. If the club wants, then this services can be made available 24/7 depend on their resources. The Long-distance coaching often offers services at a reduced rate to attract the wallet-minded gym members.
On the other hand, in-club coaching solution engage the members with the services in a creative way. The software of all-in-one fitness is available widely. The solution is then integrated into physical locations within the user premises. With the use of QR codes, the gym users can interconnect software power with the physical equipment. Mounting tablets with a free weight area gives guided workout instructions to members and at their own pace letting them to exercise safely. The QR code is included with the smartphone and scan the log details of the work and their metrics (Kamilaris and Pitsillides 2016). Integration of digital with the real, directly improves the experience of the members and keep up with one of the 2018’s big trends of the club. Software is not the replacement of the personal training but it is actually a seamless companion that can be made available simultaneously with all the members.
Therefore, X-Fit Chain Gyms can think of all these technologies and identify that whether the advance technologies that are mention in this study is something that they could implement in their club.
Conclusion
With the completion of the final report it has conclude that the business of the X-Fit Chain Gyms is running in profit by the end of January 2018. However, Enfield and Wembley clubs could not benefit much during both the Peak and Off-Peak season. Therefore, it is recommended that with the use of advance technology the business can improve the productivity and quality of the Gym and attract the members join the Club.
References
Al Horr, Y., Arif, M., Kaushik, A., Mazroei, A., Katafygiotou, M. and Elsarrag, E., 2016. Occupant productivity and office indoor environment quality: A review of the literature. Building and Environment, 105, pp.369-389.
Anderson, D.R., Sweeney, D.J., Williams, T.A., Camm, J.D. and Cochran, J.J., 2014. Essentials of statistics for business and economics. Cengage Learning.
Kamilaris, A. and Pitsillides, A., 2016. Mobile phone computing and the Internet of Things: A survey. IEEE Internet of Things Journal, 3(6), pp.885-898.
Moura, J. and Hutchison, D., 2017. Survey of Game Theory and Future Trends with Application to Emerging Wireless Data Communication Networks. arXiv preprint arXiv:1704.00323.
Murthy, M.K. and ErBedreHeeramani, E.N., 2016. TECHNOLOGY BASED COMMERCIAL BUSINESS IMPACTS ON ENVIRONMENT AND RESEARCH ISSUES FORADVANCEMENTS IN COMPUTERISED TRADING 2016: 2017. ICRTSM-16, pp.343-351.
Page, T., 2015. Applications of wearable technology in elite sports. i-manager’s Journal on Mobile Applications and Technologies, 2(1), p.1.
Prayoga, T. and Abraham, J., 2017. Technopsychology of IoT Optimization in Business World. In The Internet of Things in the Modern Business Environment (pp. 50-75). IGI Global.
Rahimi, M.R., Ren, J., Liu, C.H., Vasilakos, A.V. and Venkatasubramanian, N., 2014. Mobile cloud computing: A survey, state of art and future directions. Mobile Networks and Applications, 19(2), pp.133-143.
Rich, E. and Miah, A., 2017. Mobile, wearable and ingestible health technologies: towards a critical research agenda. Health sociology review, 26(1), pp.84-97.
Shabbir, M.S., Ghazi, M.S. and Mehmood, A.R., 2017. Impact of Social Media Applications on Small Business Entrepreneurs. Management and Economics Research Journal, 2(2016).
Sowmya, S.K., Deepika, P. and Naren, J., 2014. Layers of Cloud–IaaS, PaaS, and SaaS: A Survey. International Journal of Computer Science and Information Technologies, 5(3).
Steelman, Z.R., Lacity, M. and Sabherwal, R., 2016. Charting Your Organization’s Bring-Your-Own-Device Voyage. MIS Quarterly Executive, 15(2).
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