In this order of ideas, MGM Mirage's operations consist of "17 wholly-owned casino resorts and 50% investments in four other casino resorts, including Bellagio, MGM Grand Las Vegas, Excalibur, Circus Reno and Silver Legacyof Grand Victoria [...]. Other operations include the Shadow Creek golf course in North Las Vegas, two golf courses south of Primm, Nevada at the California state line, and Fallen Oak golf course in Saucier, Mississippi" (MGM Mirage 2007 Annual Report).
4.2. MGM Mirage External Environment
The most adequate manner for conducting an analysis of the external environment is that of developing a PEST analysis. This analysis considers the forces belonging to the political, economic, socio-cultural and technological backgrounds and which could affect the operations and achievements of MGM Mirage. These features will be succinctly presented below:
1. Political forces the United States now has a new president and his agenda is yet uncertain; this basically means that Obama's determination to properly manage the economic crisis could revolve around restrictions, taxes or other laws that could impact the operations at MGM Mirage also, the changing of the president determines a short period of political instability the fact that MGM Mirage operates at a global scale materializes in that they have to subject to the regulations of various parties, such as the United States, the international regulating institutions (such as the World Trade Organization), as well as the legislation in the destination country; this compliance requires additional financial resources the employment laws are changing, requesting employers to increase the minimum wage of their staff members and to offer them better perks (such as medical coverage); they are more tough than ever relative to discrimination; all these imply additional costs
2. Economic forces the most important force in the economic background is the globalized economic crisis it emerged in the United States but is rapidly expanding to other countries as well, threatening as such both the national and international operations of MGM Mirage before the emergence of the financial crisis, the income per capita had significantly increased; this led to more and more individuals travelling for leisure purposes, leading consequently to the development of the hospitality industry the demand for hospitality services has also been generated by the development of the business sector, which determined major growths in business travelling the economic difficulties prevent the sustained growth in income per capita and the development of the business community, materializing as such in reduced demands for hospitality services, and ergo fewer revenues for MGM Mirage the United States banking system is extremely unstable; and not just that, but it has adopted a strategy of the fluctuating rate, which often means that the economic agents will end up paying extremely high interest rates; this further increases their expenditures however it has yet to show signs of stability, after long periods of instability and high values, the inflation rate is decreasing
3. Socio-cultural forces an important specification is that the betting industry has significantly increased throughout the recent years also, the betting industry suffers limited repercussions in times of financial difficulties as the individuals continue to gamble in the hope that they would win the growth of the gambling industry has generated addictions materialized in the loss of economies or even lives; as a result, gambling is often frowned upon 4. Technological forces the technological domain is developing at a rapid pace, supporting the organizations in their endeavours new technological advancements introduced in corporate operations help reduce costs and increase operational efficiency the technological appliances are a fashion in their own sense and companies must constantly update their gadgets in order to satisfy the customers; this however implies additional costs the incorporation of hi-tech utensils has further increased customer satisfaction in the hospitality industry (e.g. hotels which offer wireless connections to the internet) the internet has also managed to bring the organizations closer to the customer through virtual environments; reservations and a wide variety of information can now be achieved online, making the MGM Mirage available to all individuals, regardless of geographic location or time zone
4.3. MGM Mirage Stakeholders
However the internal and external analyses are pivotal components in understanding the company's environment, a thorough analysis can not be achieved without a detailed look at the stakeholders. These incorporate all the individuals and groups of individuals which are directly and/or indirectly affected by the operations of MGM Mirage. Foremost, what must be mentioned relative to the stakeholders is that not only are they influenced by the organization, but that they also have the ability to impact it. Generic categories...
Capital Structure Analysis: Mattel, Clorox and MGM Resorts According to a report in the Journal of Applied Economics, companies with earnings/price ratios that are higher than their estimated after-tax borrowing costs, like Mattel, demonstrate that managers of publicly traded companies are in fact reluctant to make capital structure changes. Clorox, and MGM Resorts International also fit into this category, per my hypothesis. I suggest a radical move for these risk-averse managers
We have an organization wide strategic plan, but most of the labs and divisions within the organization also have their own strategic plan that fits into the overall plan. I think that H/R is included in strategic planning when needed. HR sounds very separate from the organization as a whole, but I can see how that makes sense given that at many research laboratories, different departments operate in a very
Operations 2005 was marked by the acquisition of Caesars Entertainment, for an estimated $9.3 billion. The period from June to December of the same year was employed with the fusing of the two operations, including unifying business systems and processes. Harrah's operations are also closely connected with property acquisitions in the Las Vegas and Atlantic City. Throughout 2005, the company has consolidated its land assets basis in these U.S. regions for
Superior Customer Value Beginning in 1998, Harrah's decided that it wanted to change its business culture from an operations-driven company that viewed every casino as a stand-alone property to a marketing-driven company with a holistic view of its properties and customers (Blight and Turk, 2004). The organization structure was revamped to become a national distribution network with a single, unifying brand. The company was then able to execute its corporate growth
Robson Walton - Chairman of the Board of Directors of Wal-Mart Stores, Inc. Stephen P. Whaley - Senior Vice President and Controller Eric S. Zorn - Executive Vice President and President, Wal-Mart Realty III. INTERNAL ENVIRONMENT: STRENGHTS and WEAKNESSES A. CORPORATE STRUCTURE Wal-Mart's retail division is formed from four major subsidiaries: Wal-Mart Discount Stores, Wal-Mart Supercenters, Wal-Mart Neighborhood Markets and Sam's Clubs. (Wal-Mart Facts, 2007) Wal-Mart Discount Stores more than 1,000 in U.S. alone average
Internet Gambling: Consumers, Industry, And Regulation Business Management Final Year Project Online gambling is a large and growing industry. Estimates from an industry consulting group indicate that as many as 2,000 firms worldwide are involved in offering a number of different types of online gambling, resulting in an estimated $25.4 billion in winnings and as much as twenty times that in revenue. Why is online gambling so popular, and what does this imply
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now