Exam (elaborations)
Multifit Gym plc report unit 6 Principles of Management)
- Institution
- PEARSON (PEARSON)
Unit 6 Multifit Gym plc report (Principles of Management) this report will prepare for your exam in January 2023.
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Introduction:Multifit Gyms plc (MF Gyms plc) is a fitness brand with 20 gyms that was established
in the late 1900s. It has a reputation for excellent customer service and innovative
online classes and employs 300 people in its gym and 15 head office employees for
support activities such as marketing, finance, and human resources. Most of the
employees at MF Gyms plc appreciate the laid-back management style and flexible
work opportunities, but there are issues with the lack of a system to monitor the
success of staff appraisals and training opportunities, which has led to low customer
satisfaction and a lack of skilled staff. In 2021, rumours circulated that MF Gym plc
would be taken over by local gym plc, and staff turnover increased as a result. The
two gyms officially merged on January 1, 2022, with the enlarged business trading
under the local Gym plc name and Endris Hunt, the managing director of local gyms
plc, becoming the CEO. After the merger, the senior managers of MF Gyms plc
either left or were made redundant, and Endris Hunt implemented changes to
increase efficiency, including replacing some full-time staff with part-time staff and
outsourcing certain services. The changes have led to discontent among the
employees and a decline in morale.
Business goals and how I hope to help them achieve it:,
To help Endris achieve his goals, I would suggest the following strategies:
To increase net profit by 10% by the end of 2036, I suggest focusing on improving
operational efficiency, expanding into new markets, and introducing new revenue
streams. This could involve optimizing the use of resources, streamlining processes,
and identifying opportunities for growth.
To increase market share by 5% by offering a wider range of fitness classes, you can
recommend expanding the range of classes and activities available, as well as
promoting these offerings to attract new customers. This could involve introducing
new types of classes, such as boutique fitness or online classes, which are growing
in popularity.
To increase customer satisfaction by the end of 2026, I would recommend
implementing strategies to improve the customer experience, such as providing
excellent customer service, offering flexible hours to accommodate time-pressed
customers, and using fitness apps and other technologies to make it easier for
customers to access and track their workouts.
Additionally, I would also suggest that Endris consider providing training and
development opportunities for employees to help them become more multiskilled and
efficient, as well as implementing systems to monitor and measure employee
performance. This can help to ensure that all workers are able to deliver high-quality
, service and support to customers, which can in turn help to drive customer
satisfaction.
Main issues that Multifit Gym plc is facing:
Issue 1: lack of monitoring and accountability – the company does not have a system
in place to monitor the success of new activities or to budget for them, and there are
no staff appraisals or consequences for missing profit targets or declining customer
numbers. This can lead to low profitability and customer satisfaction. The lack of
monitoring and accountability at MF Gyms plc has an impact on business goals in
several ways. Firstly, it can lead to low profitability, as there is no system in place to
track the success of new activities This means that some activities may not be as
successful as they could be, and the company may not be making the most of its
resources. Additionally, the lack of staff appraisals means that there is no way to
measure employee performance and identify areas for improvement. This can result
in low customer satisfaction, as staff may not be providing the level of service that
customers expect. Finally, the lack of consequences for missing profit targets or
declining customer numbers may demotivate employees and create a culture of
complacency within the company. The cause of MF gym plc facing issues such as
lack of accountability and monitoring is due to its laid-back management style, lack
of training opportunities for staff and a shortage in staff appraisals. This has led to
low customer satisfaction rates as well as a decrease in skilled staff to run popular
classes and finally a high staff turnover. Additionally, the merger with local Gym plc
may have also contributed to the change in management and increased focus on
efficiency and results.
To prevent the lack of monitoring and accountability at MF gyms plc, the
company can take the following steps:
Implement a system for tracking and evaluating the success of new activities and
initiatives: this can include setting clear goals and objectives, regular reviewing and
analysing data on the performance of these activities. By tracking this information,
the company can better understand what is working and what is not, and from there
they could make necessary adjustments to help improve the success rate of these
initiatives.
Furthermore, they could establish a more structured approach to employee
appraisals and development: this can include conducting regular performance
evaluations, providing training and development opportunities to help them grow and
succeed in their roles. By investing in employee development, the company can
improve the overall skills and capabilities of its workforce, leading to higher levels of
customer satisfaction and success. In addition to this measure, MF gyms plc may
also want to consider improving communication and transparency with its
employees, especially in the event of significant changes such as merger or
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