StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Analysis of MGM Company - Case Study Example

Cite this document
Summary
"Analysis of MGM Company Case" paper focuses on MGM, one of the leading companies in the hospitality and gaming industry globally, owning fifteen resorts and gaming properties in several different states. The gaming industry was seen as an industry that was highly unlikely to be hit by a recession. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.2% of users find it useful
Analysis of MGM Company Case
Read Text Preview

Extract of sample "Analysis of MGM Company"

This prospect has however changed over the years with the reduction in consumer spending. Furthermore, consumer needs and preferences are constantly changing which has necessitated the need for companies to change the preferences of the consumers.

MGM is also faced with the problem of keeping pace with the trends in the market to maintain its competitive edge. The highly competitive nature of the hospitality and gaming industry is considered one of the biggest threats to MGM. The competitors vary considerably in terms of their size, quality of services, financial potency and capabilities, level of facilities, and the diversity that exists in terms of geographic location. MGM faces competition from several public and private companies that operate in the hotel, gaming, and resort businesses.

In just the short period, that MGM has been in the market, its portfolio has vastly increased. MGM is actively in pursuit of development opportunities in the main regions that show some form of opportunity, both domestically and internationally. However, now MGM seems to be highly reliant on Las Vegas to generate the larger part of its revenue. Secondly, MGM has taken up several initiatives to set it apart from its competitors. Building themed hotels came outdated and a cliché over time, which in turn necessitated the need for MGM to take up something different and unique.

This is relevant in ensuring that the hotel can offer to its customers what the other hotels in the hospitality and gaming industry do not have to offer. Furthermore, to get a head start in the changing era of the competitive industry, MGM has collaborated with the digital entertainment party known, as the bwin party waiting for the time when gambling shall be made legal. The world is vastly changing to be digital and customers are every day hoping to do everything online. Offering online poker is likely to give MGM a competitive advantage in the gaming industry.

The resource-based model is ideal when venturing into international markets as a way of maintaining competitive advantage and attaining above-average returns. Furthermore, MGM should focus on training the employees to deliver consistently excellent customer service across all of its resorts. Asians are often viewed to be risk takers, spontaneous, and a good market opportunity for gambling. This could be associated with the strict governing norms in the community. They generally view gambling as a getaway from their monotonous lives.

Hence, the “Las Vegas Approach” is most likely to work. Las Vegas in the eyes of many is seen as the destination where one goes and there are no limitations as to what one can do. The only difference between Asians and Americans is that most of them do not look for accommodation while on their getaway. It normally just lasts a night and they are off the next morning.  Murrens shrewdness in the business world and determination could be the attributing factor for the significant growth observed in the company even after the exit of its founder. The partnerships with Dubai World and Panty Ho are not necessarily an indication of weakness in the eyes of the consumer. This is because they have access to a pool of funds and are necessary for providing the consumers with better services that they demand.

In addition, the partnership is relevant in ensuring that the customers get a wide range of services, which would likely not be possible otherwise. In contrast, the less enlightened customers are likely to see the partnership as a sign that the company was failing and needed the company to save it.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Case Study of MGM Example | Topics and Well Written Essays - 500 words”, n.d.)
Retrieved from https://studentshare.org/management/1637558-case-study-of-mgm
(Case Study of MGM Example | Topics and Well Written Essays - 500 Words)
https://studentshare.org/management/1637558-case-study-of-mgm.
“Case Study of MGM Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/management/1637558-case-study-of-mgm.
  • Cited: 0 times

CHECK THESE SAMPLES OF Analysis of MGM Company Case

Strategic Recommendations and Action Plan for MGM Resorts International

The management team of mgm Resorts International should engage in the assessment of developmental impacts and their shortcomings.... he management team of mgm Resorts International should engage in the assessment of developmental impacts and their shortcomings.... The management team of mgm Resorts International should employ the present technology, in the process of providing its services and products on a daily basis.... For instance, the company has to focus on five main strategies including analysis of tourism impacts, financial and economic analysis, analysis of tourism and analysis of tourism demand....
3 Pages (750 words) Essay

Mgm-mirage Corporation

Ratio Analysis A ratio analysis of mgm Resort International for the fiscal years 2010 and 2009 is illustrated below: Ratio Analysis 2010 2009 Net margin -23.... To evaluate the financial performance of mgm Resorts International this paper will utilize trend and ratio analysis.... The illustration below shows a trend analysis of the balance sheet of mgm Resort International.... The net margin of mgm Resort International in 2010 was -23....
3 Pages (750 words) Math Problem

Strategy Formulation Work for MGM Resorts International

The purpose of the case analysis is precise to determine the best strategic alternative for MGM Resorts International, given the business and general environment in which it operates, and given an analysis of its strengths and weaknesses, the threats to its business, and the opportunities that are present in the market.... he company has sole ownership and total control of operations for its US casino resorts, whose casino operations, in particular, are open the whole year round without pause and for 24 hours every day, except for its operations at the Grand Victoria, which pause for work two hours out of 24 hours on a daily basis (Google Finance, 2013)....
9 Pages (2250 words) Case Study

MGM Grand Hotel Industry

The performance of mgm Grand Las Vegas Hotel has improved since its establishment.... At the opening of mgm Grand, the biggest intention was the creation of the first hotel in Las Vegas that includes the Theme Park MGM Grand adventures behind the casino.... The company has focused critically on satisfying its internal and external employees.... To serve this purpose the company has focused on developing a good recruitment and selection system, attractive compensation package, time to time training programs....
8 Pages (2000 words) Term Paper

Change of Company Name - Toys4U Ltd

The change of company name is governed by the Companies Act 2006 but the law allows a different method if prescribed by the Articles of Incorporation of the company.... If done in accordance with the aforesaid law, Francesca and Don may request that the proposal to call for a general meeting for the purpose of submitting the motion to change the company's name from Toys4U Ltd to Since the two directors constitute the majority, their decision prevails....
4 Pages (1000 words) Essay

Analysis of MGM Resort and Casino

The essay "analysis of mgm Resort and Casino" focuses on the critical analysis of the major issues on the MGM resort and casino.... There is a belief by the top management of mgm that it owns and invests in various segments of the casino resorts internationally and has continually reinvested in the resorts in a bid to sustain competitive advantage within the international market.... he generation of cash flows by the standard domestic resorts of mgm in 2012 advanced than the previous year and the year 2010 and there is an expectation that the efficient and effective trend will continue into the coming years despite the constant economic declines....
8 Pages (2000 words) Essay

HRM Analysis of the MGM Grand Las Vegas Hotel

In this report, an HR analysis is done of mgm Grand Las Vegas Hotel.... At the opening of mgm Grand, the biggest intention was the creation of the first hotel in Las Vegas that includes the Theme Park MGM Grand adventures behind the casino.... The paper 'HRM analysis of the MGM Grand Las Vegas Hotel ' is a cogent example of human resources report.... The paper 'HRM analysis of the MGM Grand Las Vegas Hotel ' is a cogent example of human resources report....
9 Pages (2250 words)

MGM Resorts International

case Analysis Brief: MGM Resorts International MGM Resorts International is faced by several challenges, among them a need to reduce its substantial leverage, management of its property portfolios, make up differences with its major competitors, and identifying the right international model especially in Asia.... In this case, they will have an option to expand into the Chinese market at any point in the future as they work to shore up their Las Vegas operations without expanding too fast to China....
3 Pages (750 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us