ABC Fitness Gym: IT Risk Management and Growth Strategies

Desklib provides solved assignments and past papers to help students succeed.

IT RISK MANAGEMENT

Table of Contents
Introduction......................................................................................................................................3
Executive Summary.........................................................................................................................4
Recommendations to management of Gym.................................................................................4
Merits of the project based on risk assessment............................................................................5
Risk assessment...............................................................................................................................6
Key assets of the organization.....................................................................................................6
Threats to the organization..........................................................................................................7
Vulnerabilities and consequences based on IT control framework.............................................7
Protection Mechanism.....................................................................................................................9
1. Universal liability.................................................................................................................9
2. Expert liability......................................................................................................................9
3. Merchandise liability..........................................................................................................10
4. Cheap crowd liability..........................................................................................................10
Require Further Analysis and Rationale........................................................................................12
Conclusion.....................................................................................................................................13

Introduction
In the report discussed below we would discuss about an inclusive risk report made for a fitness
Gym called ABC fitness Gym in which their would-be analysis of the environment of the Gym
on a technical basis where we would be analysing technical risk regarding it and will also
analyse factors which can contribute in the growth of the gym and will stop the factors analysed
which deaccelerate the growth and slower down the process ,which should be attained faster in
order to accelerate the success of the Gym, we would be discussing about an executive summary
in which there would be statement regarding the technology project related to the Gym which
has to be assessed while contributing some recommendations made in essence to the risk
management done accordance to the Gym, a risk management would also be done which would
include resources, fears as well as susceptibilities and penalties consequential from an IT control
context, then we would summarize all the report while identifying future recommendations.

Executive Summary
The ABC fitness Gym started by its owner in 1997 having a smaller area at starting when it was
opened having a lesser capacity about 20 members in general but after success full starting of it
the owner planned to open Gym on a big scale acquiring a larger number of people which
expanded the Gym and helped in its growth , this path led to his successful growth and now the
gym has about 50 full-time associates and 150 instructors who work for the gym on a part-time
basis. It has also tied up with many organizations in order to increase its members and do its
marketing to as many as possible people which would further help them in expanding their
gym’s growth.
Associates of the gym are generally divided into two of the categories one of which work for the
gym and are also associate of the gym while other category falls for the members who are fitness
freaks and employ in gym while being the permanent associates of the Gym ,they both have to
pay for the Gym fees but one who are workers get a reduced rate of doing so as they are also
giving their asset to the gym ,but the individual associates have no such option like that. It has to
be revised every year in January so that it has a synchronization with increasing inflation in the
society
Recommendations to management of Gym
While running a business there is always a room for some points which are needed to be covered
in order to increase the growth of the gym in general, a right person is needed to recommend
some good points in order to bring the organization at a right pace some of which are as
discussed below-
1. The main focus of the gym should be on expansion of it by employing more and more
members in the gym, there should be focus on the part-time employees as well as full-
time instructors to be employed in the gym.

2. There should be schemes employed which would increase the associates of the gym, like
a new year resolution scheme can work for making new connections of people at the
starting of the year.
3. The tour of the gym given to associates before joining should be limited to half an hour
from a business point of view while there should be a minimum number of people on the
tour.
4. Main focus should be given to the infrastructure or mainly the machines employed in the
gym for exercising, there should be machines which are easy to use and give effective
results within a small period of time.
5. Machines like cardiovascular machines should also be employed which would give
aerobic benefit in no time while providing a safety standard to people on it, while
maintain a difficulty level as well as selecting different programs when needed.
Merits of the project based on risk assessment
The running project is on a successful growth rate as it has some of the other merits which might
not be much effective for future running but they are working for the present scenario, these are
as discussed below-
1. Gym expanded its area or the premises in a shorter period of time which is itself a
milestone to achieve as it takes a lot of effort to do so, as providing a larger area for doing
exercises is essential in general.
2. It has increased its capacity of giving its membership to people, now it can give
memberships to organizations as well which can increase the number of its associates
which is healthy for the business of the gym.
3. Company has segregated the type of members by making them divided into two streams
which are the persons who work for the gym and are also associate of it while a group of
people who are individually enrolled in it and have taken membership for the gym, some
of the considerations are made for the people who are employed in the gym and have
taken membership.

4. A tour in the gym is arranged for the people who came for new association within the
gym before obligating themselves to it.
5. Specialist companies employed for manufacturing of equipment while it must be
enumerated with its trade association, as the gym has taken machines from many of them
this marks a growth structure for the same.
Risk assessment
Risk assessment of the ABC-fitness gym consist of various sets which are as discussed below-
Key assets of the organization
There are certain assets to which any organization must work on while the entire business
depends on analyzing them these are-
1. A strategic mindset has to be drawn and should be kept in mind for the growth of the
business as it is a valuable asset. ABC the fitness gym has a mindset of expanding its
business from every nook and corner which includes various things talking about joining
various organizations by tie-up with them, or making endless efforts for the reduced rates
for its employees, a strategic mindset is drawn for every step the owner takes.
2. The most valuable asset of a company is its employee, they are the ones whom the owner
must trust blindly and could give their valuable time to organize for constantly increase in
their growth so they must be treated properly, and the most important aspect is to make
them comfortable while working on their basic needs in general.
3. There should be operational efficiencies employed in the organization which includes the
safety of the employees as well as the customers, or the associates of the gym which must
be taken care of, any occurrence which might turn hazardous for the gym must be
avoided and should be taken care of.
4. There should be kept an eagle eye on the financial matters of the organization as these are
the ones that might not be turned as an option to be treated while making an effort for
them is the major key for them.

5. Organization must be completely dedicated towards their ultimate customers who are the
king and must be the one whose care is the first and foremost thing to be attained for the
growth of the organization in general.
Threats to the organization
1. Gym has a lesser area as compared to others and might not tend to attract users.
2. A lesser number of organizations have a tie with them so there is lesser marketing of the
gym which marks as a threat for surviving in this cooperative world, while they lack in
renewal of the membership of members quickly.
3. There is not much retention of associates, associated with gym which is needed to be cut
out.
4. Gym is not able to meet up the safety and health requirements of people coming to enroll
with the gym, while not able to maintain equipment’s to a higher standard.
5. Not able to staff members with requisites skills, while not being aware of variation going
in the market.
6. Not able to maintain client details with confidentiality, and privacy as required by them.
7. The gym is not able to provide specific dietary which is required by the clients and the
users specifically to the needs of their body which is not good for the gym.
8. No use of the latest data management techniques is used for maintaining the data of the
clients, which makes them lag behind with their competitors.
9. Even the present scenario and workable is not safe to acquire which makes them prone to
disasters and mismanagement.
Vulnerabilities and consequences based on IT control framework

Gym is open to many vulnerabilities as it is observing too many risks and threats and there are
many consequences that could affect its growth and further development of it in many ways.
Employing to It control framework which makes a control framework which must be able to
create a business value as well as minimize the risk associated with it, gym is vulnerable to many
of the risks which include-
1. Gym is not able to maintain a staff whom owner can trust easily while they do not have a
desired skill required in it, they are not even able to maintain a pace with the variations
going on in the market.
2. It is vulnerable to a threat of not able to renew its membership with associated people
which makes it lack behind.
3. Being vulnerable to health and safety requirements provided by the gym distracts users to
get enrolled with them easily, while they have not a maintained quality of equipment
used in the gym.
4. Not able to maintain data with newer technologies which makes it vulnerable to newer
technology required, to pace with today’s world.
5. Vulnerable to not being able to attract users because of the lesser area provided to them
which makes it not able to attract users in general.
6. It is vulnerable to people leaving the gym, which means they are not able to hold on the
people who come to associate with them.
7. It is not able to market it quickly, as it has lesser associates, associated with them as well
as lesser tie-ups with the organization which is not healthy.
So there is a need to analyze risks prevailed in the organization and there requires a clear need to
avoid them to available extent while continuously making efforts for growing the organization.

Protection Mechanism
While running a gym there are things which should be taken care of and there are a lot of
responsibilities which are to be undertaken by user in order to run his gym successfully, while
maintaining a standard and quality of things they provide if they are not going to maintain all
these then there would be less number of people getting attracted towards their gym, while loss
of business would be their too, so there should always a room to provide a protection mechanism
with people, culture as well as technology to increase business.
There should be available gym liability insurance to every member of the gym, whether it is the
staff member, owner or the associates of the gym, mishappening or accident could occur with
anybody and should be taken care of while enrolled in it. It help you as it generally covers
insurance for all the aspects whether it is about the gym equipment or the health of the people
nothing is hampered if provided with a gym liability, amount which can be provided to the
person or the gym would largely depends on varied factors which could depend on number of
employees employed in the organization, the area in which it is mechanized, while it also depend
on the facility provided by them.
A Liability of a gym depends on various of the liability risks which include-
1. Universal liability- It would include any type of injury to people enrolled in gym
whichever form they might be as well as any type of equipment that is kept in the gym,
all these things are liable to the gym owner and must be payable by him for any loss
occurred in them.
2. Expert liability- These category falls for people or mainly called the instructor which
give their advice in changing diet plan of people, which may cause any sickness or any
damage to people following it, they might not get any benefits after following them or
this might turn hazardous for them make them sick or any major health issue occurs with
them ,then the expert or the instructor who has provided them with that diet chart is liable
of paying the person or the client they are dealing with.

3. Merchandise liability- If the gym is providing people with any kind of equipment to
people or any kind of facility to them then they are liable to any risks occurred to people
with those products whether it can be in form of any nutritional pack or any other fitness
equipment’s all get covered under this and must be taken care of while maintaining a risk
factor associated with it.
4. Cheap crowd liability- If the organization or particularly gym has a crowd where
females or in general all people doesn’t feel safe while doing exercises then the person is
liable to ensure or to pay for the same if any accident or a case of harassment occurs
when the user is liable to pay for the consequences in general and is legally abide to
follow all sort of case applied to them.
So basically, it is needed to keep a balance on all the liabilities and should be maintained in an
order to keep a healthy surrounding in the organization which is worked on, which would in turn
lead to growth of the business and would help to make all persons healthy and wise while
making money for the user who has opened the gym for his convenience.
So, protection management should be employed such that it leads to successful running of
business while insuring protection to points as mentioned below-
Equipment breakdown- protection for the equipment plays a vital role in protection
management as these are the assets which should be taken care of, these play an important role in
making a gym, without which it would not be possible to run a gym successfully.
Personal injury- There should be avoidance of any type of injury to people as this would lead to
a bad effect on the image of the gym, which is intolerable and bad for the user as well as the
owner of the gym as it would lead to degradation of all of them.
Business income- There should be applied protection management on the income of the business
as it is a vital part of the business running and should be employed in safer hands to act on user
must be able to trust these people with every available respect and in every field.
Worker compensation – There should be applied compensation and an amount of money
should be kept in order to pay any compensation if required to be paid for any kind of damages
occurred while exercising, maybe it is for the people involved in it or the equipment’s or any
other thing within the gym.

So, these all are precautions that should be taken care of and it must be managed to apply a
successful protection management to the organization in general.

Require Further Analysis and Rationale
An organization might be running on a higher pace and is on its way of extreme growth but there
is always a room for making some changes which can further employ some changes and could
lead to more and more success employed within there are some points which could be worked on
these are as discussed below-
1. There should be strict action taken for increasing the premises of the gym as it marks an
important factor in the growth of the gym while it is an essential factor that should be
worked upon.
2. An honest and workable staff should be maintained while staffing the gym whom users
could easily trust can rely on them from anything to everything in general.
3. It should be legally fit in all the kinds it should have all the legal advisors which would
help them in every aspect and make them come out of every adverse situation easily.
4. The health and safety of every member is essential whether working for the gym or is a
user of gym equipment, they all should be taken care of and should be treated equally in
order to maintain a healthy environment within the gym.
5. Newer technologies should be used in order to maintain the data which would help to
easily maintain records while storing information in a mannered way would help them in
a subsequent way.
6. Retention of customers is important for every organization if this could not be attained
by any organization then it is of no use of any growth or any acceleration done in the
business.
7. Growth of the business entirely depends on the marketing it does and amount of people
involved in the business which is essential in general.