...Table of Contents: Introduction….………………………………………………………………………………..p. 3 Five Forces Model in Hospitality Industry…………………………………………………..p. 4 Top three companies in Hospitality Industry (Hotels)………..…………………………….p. 5 Marriott International, Inc. Comparative Strategy, Value Chains..……………………....p. 7 Differentiation Strategy of Marriott International, Inc……………………….…………...p. 7 Cost Leadership Strategy of Marriott International, Inc…………………………………..p. 8 Value Chains of Marriott International, Inc………………………………………………p. 8 Primary Activities…………………...……………………………………………….p. 8 Supporting Activities………………………………………………………………...p. 9 Business processes………………………………………………………………….p. 10 Conclusion………………………………………………………………………………….…p. 11 References……………………………………..………………………………………………p.11 “The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency”. (Bill Gates) Introduction. In the today’s world of competitive markets, information technology has a huge impact on the success of the companies. “The role of IT is constantly evolving and has changed significantly from the days when the IT organization was often referred to as “data processing.” Today, in many industries, IT enables some businesses to differentiate themselves from their competitors. Those companies...
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...Framework) 6.8 On the guest experience (8 JA, 1 Framework) 6. CHALLENGES(400) 7. RECOMMENDATIONS- STRATEGIC PLANNING- Grant Chart(200-250) 8. CONCLUSION (250) APPENDICES 1. INTRODUCTION 1.1 Overview of MGM Resorts International 1986 2000 2010 1986 2000 2010 MGM was incorporated as an company MGM was incorporated as an company MGM Grand and Mirages Resorts was merged into MGM Mirage MGM Grand and Mirages Resorts was merged into MGM Mirage MGM Mirage changed into MGM Resorts International MGM Mirage changed into MGM Resorts International Figure 1. Timeline of MGM Resorts International (Bolton 2014) MGM Resort International (MGM), which is based in Nevada, USA, is one of the global leading companies in hospitality and entertainment industry. (Bolton 2014). It owns and operates 13 properties across the world, some of which are MGM Grand, Bellagio, Mandalay Bay, Mirage and holds 50% investments in four other properties including CityCenter. Besides, MGM has 51% interest in MGM China Holdings Limited owning MGM Maccau casino & resort (MGM 2015). Besides that, MGM is in the process of building second resort in Maccau which is called MGM Cotai. According to its official website, MGM provides customers with not only top-notch accommodations, fine-dining restaurants, luxurious shopping centers but also memorable entertainment experience with gambling in its modern casinos. 1.2...
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...the act of engaging or the state of being engaged.” -Dictionary.com (2011) Introduction Employee. Engagement. Separately, each word has a clear, concise definition. Their descriptions are easy to grasp. However, once you put the words together the concept of employee engagement is complex because there are many variations on its definitions and dynamics that contribute to engagement. “To date, there is no single and generally accepted definition for the term employee engagement (Markos & Sridevi, 2010, p.90).” The difficulty of pinpointing an exact definition lies in the fact that employee engagement does not have the same meaning for everyone (Blessing White, 2011). The goal of this paper is to provide a general discussion of its definition, history, current state, future trends, and close the discussion with a conclusion. Employee Engagement: Definition Generally speaking, employee engagement is the concept of an employee that is fully invested emotionally, intellectually, and socially into their work, company, and colleagues (Markos & Sridevi, 2010). “Engagement is about passion and commitment-the willingness to invest oneself and expand one’s discretionary effort to help the employer succeed, which is beyond simple satisfaction with the employment arrangement or basic loyalty to the employer (Markos & Sridevi, 2010, p. 90).” Employee engagement is something that is felt more than something that is...
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...largest industry in the world but also the number one online segment, accounting for 11% of overall sales on the Net in 1998. E-business on tourism accounted for $13 billion in 1999 (Forrester Research 1999). The online travel market is experiencing explosive growth, and is projected to go to $30 billion this year. It is already estimated that by year 2003 over 30% of online sales will be generated by online travel alone, including actual travel products as well as advertising earned by travel-oriented sites. The number of travelers who use the Internet for travel-related and other purposes tops 70 million, half of which consult the Internet to get information on destinations or to check prices and schedules (Travel Industry Association of America 1999). The number of travelers booking online has soared by more than 80 percent to 11 million in the last year (PhoCusWright 1999). Travel remains one of the most popular e-commerce categories, with 45 percent of online buyers saying they purchased travel online. This is outpaced only by books at 54 percent. According to a recent survey by BizRate.com (1999), 85% of the respondents intend to use the Internet exclusively or in conjunction with off-line resources to schedule airfare (90% of those planning to purchase travel online), hotel (52%), and car rental (42%) reservations for holiday travel. More than 75 percent of respondents indicated that discounts would motivate them to purchase future travel reservations online. Thirty-nine...
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...| Corporate- Level Strategy of Las Vegas Sands in the U.S. | 11 | International Business-Level Strategy of Las Vegas Sands | | Macau | 14 | Singapore | 17 | Bibliography | i | Appendix | iv | * Executive Summary Las Vegas Sands is a hotel, gaming and resort development company which operates in many countries worldwide. It has 3 significant establishments; The Venetian and The Palazzo in United States, The Venetian Macao in Macau and Marina Bay Sands in Singapore. The company places strong focus on their code of conduct and ethical behavior of their employees. The company has both tangible and intangible resources. Their capabilities include excellent management of operations and human resources, specifically tailored offerings to the Asian market, the MICE business and Eco 360 cost savings initiative. We have identified their core competencies to be in MICE, the Eco 360 program, its Paiza Club which targets high end Asian clientele and the Venetian theme which is seen prominently in their establishments. We have also analyzed the company’s external environment based on Porter’s 5 forces. Most of the forces are identified to be moderate, with the exception of threat of substitutes being high. For this paper, we have defined their core business to be in the casino business. Their resort...
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...1. Executive Summary 1.1 Brief Summary While the Trump organization continues the expansion of its entertainment/luxury conglomerate through the recent acquisition of half ownership over the sports entertainment giant The World Wrestling Entertainment (WWE) and its recent entry into the higher-tier water business with its new brand, Trump Ice, it’s Casinos in Atlantic City (AC) do not seem to be doing so well. With increased competition, mounting regulations, and a relatively depressed economy the overall revenue of the Trump Organization’s AC hotels are diminishing, with administration expecting lower market shares in the coming years (“Trump buys raw”, 2009) (“The Trump Brand, 2012) (“Trump Entertainment Resorts, Inc”, 2010) (Bary, A., 2011). The organization’s failure to systematically allocate resources for periodic improvements/updates to these facilities have cost it the inability to attract or retain customers. In fact, just recently the organization relinquished one of its AC properties, The Trump Plaza to its competitor, The Golden Nugget (Wittowski, 2011). This is allocation of resources is critical in an industry where customer retention is correlated to the amount of expenditure and improvements made to the facilities. This slump in the organization competitive performance has been the case for quite some time. The Trump Organization has repeatedly fell at the brink of filing for bankruptcy – due to high leverage, low liquidity, and poor operating performance...
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...The Future of Gaming Employment Kimberly Dixion DeVry University Author Note This paper was prepared for HMT 440 taught by Professor Zombas. Table of Contents Introduction………………………………………………………………………………………3 Gambling Through the Years……………………………………………………………………3 Types of Casinos…………………………………………………………………………………6 Careers in Gaming ……………………………………………………………………………….8 Conclusion……………………………………………………………………………………….10 Introduction The casino and the gaming industry has gotten to be very popular throughout the years. The fact that different states and countries are allowing gambling into their areas, means that more jobs will be popping up for the people of these areas and who are in this industry. I feel that the gambling industry will offer employment to many people for years to come. Information that needs to be considered are that casinos are be putting up in almost every state, but you also have to look at online casinos and casinos that are now on cruise ships. Between Resorts, cruises and just the casinos themselves, there are many positions that need to be filled to keep these establishments running. Gambling Through the Years There is no exact date of when gambling was started. There is record of the Chinese doing it in 2300 B.C (casino-hstory.org). There are also stories of the ancient Greeks, Queen Elizabeth and the Romans gambling in some way as well. A lot of the games that are played in recent times actually have a history of starting in Europe and China. Gaming...
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...Obillo | 10/1/2013 | | CHAPTER I THE PROBLEM Background of the Study In the annual rate of enrollees at Panpacific University North Philippines, The College of Hotel and Restaurant Management takes the place of one of the courses that has a high percentage of enrollments every year in the other courses offered. This result shows that many students are giving interest of taking up Hotel and Restaurant Management course. Hospitality Management is one of the courses that is in-demand in the Philippines and all around the world. The program has a very broad scope of subject and skills to be learned, it may come in many names; these are food and beverage, hospitality management, and travel and tourism business, cruise line and maritime. Here are some factors why Hotel and Restaurant Management course is in-Demand: 1.)Wide Range of Opportunities- Hospitality Industry is very huge. You can find different Hospitality companies anywhere in the globe. Because of this you will Have Unlimited opportunities for your career. You can choose to work in your local or find jobs abroad. 2.)Different Career Path- Graduates who study Hotel and Restaurant Management choose a career based on their expertise or shift to another field related to Hospitality Management. You can be a Restaurant Manager, Hotel Manager or any career that is related in hospitality industry. 3.)High Salary- Most employees in Hospitality industry are paid higher than on other industry especially working...
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...Table of Contents Introduction………………………………….….…..…..Pg. 3 Broad Overview of the Gaming Industry…………....….Pg. 4 Trends……………………………………………..…….Pg. 5 Is My Business Fit for Gaming…………..…..................Pg. 6 Larry Katz of Dot’s Diner………………….……….…..Pg. 7 Lessons Learned……………….......................................Pg. 7 Conclusion…………………………………….….……..Pg. 8 Works Cited……………………………………………..Pg. 9 There are many industries that are out there providing jobs for many different people in this world. There is however, quite none like the Gaming Industry. The beginning of gambling can be traced to religious rituals in pre-historic societies. The rituals had a purpose of predicting the future. The procedure of the rituals was simple and consisted of “casting the lots” throwing small objects like pebbles, sticks, nuts, arrows etc. out of the palms of the hands or any container (Hoovers, 2012). The result was checked to see if the number of the objects on the ground was “odd” or “even”. “Even” number meant a positive outcome and “odd” stood for a negative one. With time that process became more complex and also involved interpreting the patterns of the objects lying on the ground. The next step in the evolution of these rituals integrated the sacrifices from the participants to encourage the fate of the Gods to deliver positive signs and help. The sacrifices were normally personal stakes which turned those involved from observers into active players of the process...
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...Problem Solution: Riordan Manufacturing Employee motivation is an issue that does not discriminate (UoP, 2008). “Motivation is the willingness to exert effort in a particular way” (Dreher & Dougherty, 2001, p.28). Two theories can be reviewed when examining motivation. The first is expectancy theory. Expectancy theory holds that people are motivated to behave in ways that produce desired combinations of expected outcomes (Kreitner & Kinicki, 2004). Vroom’s expectancy theory is a mathematical model that looks at motivation. Employee motivation is influenced by expectation. If I get a raise at the end of the year for all my hard work I will work harder next year. If I work hard and don’t get a raise then my effort level will decrease. Porter & Lawler’s extension expectancy model identified people’s valences and expectancies and how effort connected to performance. “Valence refers to the positive or negative value people place on outcomes’ (Kreitner & Kinicki, 2004, p. 300). This theory showed that job satisfaction was directly linked with how employees perceived their reward. Employees will alter their mind-sets only if they see the point of the change and agree with it – at least enough to give it a try (Lawson & Price, 2003). The second theory is equity theory. “Equity theory is a model that explains how people strive for fairness and justice in social exchanges or give-and-take relationships” (Kreitner & Kinicki, 2004, p. 290). Adam’s equity theory of motivation looks at inputs...
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...Abstract: This course work will concentrate on marketing analysis of the world’s leading circus company Cirque du Soleil. Based on the data given it will conduct a PEST, Porter’s 5-Forces, SWOT analysis and discuss the results, together with results paper will concentrate on marketing and positioning strategies and Ansoff’s Matrix, and also recommend strategy measures for achieving sustainable economic development outcomes. It was found that, first of all, Cirque du Soleil is making a profit while most of its competitors are fail to break even. Second, with its innovative and creative productions, the Cirque stays in a distinct position that none of its competitors can compete. Third, the Cirque’s shows ease to accept by the world and became more flexible due to the sufficient diversity in performers’ nationalities and with experience in multi-field. Table of Contents 1. Introduction………………………………………………………..5 2. PEST and Porter’s 5-forces analysis................................................5 3. SWOT Analysis................................................................................11 4. Marketing and positioning strategies...............................................14 5. Ansoff’s Matrix…………………………………………..………..16 6. Conclusion........................................................................................18 Bibliography.......................................................................
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...In-House Restaurants Become a Support Center Rather Than a Revenue Center: An Exploration of Possible Causes and Solutions for This Problem TIM 314 Hotel Management Bill Self Melanie Ho Danelle Shimabukuro Molly Thompson Abstract Purpose: The purpose of this paper is to find why in-house restaurants become a support center rather than a revenue center. This question came about when our team realized that hotel restaurants are not as popular as other restaurants and are not performing to the maximum level of customer satisfaction. This review researches to find evidence of consumer satisfaction and hotel restaurant management. Design/methodology/approach: This paper reviews consumer attitudes and service relations of the hotel restaurants management. We examine the different causes that degrade the name of hotel restaurants. Our groups research is also looking into different solutions to the problem, a possible solution would be the action of outsourcing hotel restaurants. Findings: This paper identifies the issues that affect the consumer attitudes toward hotel restaurants which then in turns reduce the popularity of the hotel restaurant. We found the attitudes of past and current opinions of hotel restaurants. Traditional fine dining hotel restaurants are not as popular as they use to be so they are using different methods to fix that problem such as outsourcing or revamping them to be...
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...A RESEARCH BASED PROJECT NEW PRODUCT LAUNCH IN THE MARKET DONE BY MONU JAIN COMPANY PROFILE: * Type: Public (BSE:ITC) * Founded: 24 August 1910a Radha Bazaar Lane, Kolkata, India * Headquarters: Kolkata, India * Key people: Yogesh Chander Deveshwar, Chairman K. Vaidyanath, Director, Partho Chatterjee, CFO * Industry: Tobacco, foods, hotels, stationery, greeting cards Products: Cigarettes, packaged food, hotels, apparel Employees: over 25,000 (2009) Website: http://www.i tcp ortal.com/ Forbes Global 2000 List: 987 rank (2009) * Sales ($ billion):3. 65 Profits($ billion):0.79 Assets($ billion):4.43 Market Value($ billion):13.48 * ITC S VISION | | Sustain ITC's position as one of India's most valuable corporations through world class performance, creating growing value for the Indian economy and the Company’s stakeholders. * ITC S MISSIONTo enhance the wealth generating capability of the enterprise in a globalizing environment, delivering superior and sustainable stakeholder value | | ITC is one of India's foremost private sector companies with a market capitalization of over US $ 30 billion and a turnover of US $ 6 billion. ITC is rated among the World's Best Big Companies. ITC ranks among India's `10 Most Valuable (Company) Brands', in a study conducted by Brand Finance and published by the Economic Times. ITC also ranks among Asia's 50 best performing companies compiled by Business Week. ITC has...
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...BLUEPRINT Published by Stansberry Research Edited by Steven Longenecker and Fawn Gwynallen Copyright 2014 by Stansberry Research. All rights reserved. No part of this book may be reproduced, scanned, or distributed in any printed or electronic form without permission. About Stansberry Research Founded in 1999 and based out of Baltimore, Maryland, Stansberry Research is the largest independent source of financial insight in the world. It delivers unbiased investment advice to self-directed investors seeking an edge in a wide variety of sectors and market conditions. Stansberry Research has nearly two dozen analysts and researchers – including former hedge-fund managers and buy-side financial experts. They produce a steady stream of timely research on value investing, income generation, resources, biotech, financials, short-selling, macroeconomic analysis, options trading, and more. The company’s unrelenting and uncompromised insight has made it one of the most respected and sought-after research organizations in the financial sector. It has nearly one million readers and more than 500,000 paid subscribers in over 100 countries. About the Author Porter Stansberry founded Stansberry Research in 1999 with the firm’s flagship newsletter, Stansberry’s Investment Advisory. He is also the host of Stansberry Radio, a weekly podcast that is one of the most popular online financial radio shows. Prior to launching Stansberry Research, Porter was the first American editor...
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...Needs Assessment for Quality In order for a hospital to survive the competition in today’s healthcare world, a hospital must be aware of opportunities to grow and reduce costs and be supported by Total Quality Management Process. The TQM process helps the hospital to create new products, ensure the standards of quality and client satisfaction and deliver improved services. In addition, the TQM process also helps in improving a company's bottom line profits by increasing operating efficiencies, eliminating waste, and creating working conditions conductive to productivity and company growth. The employees must work in healthy environments, which maximizes their efficiencies and enables them to perform at their best levels. In both the short-term and long-term, the quality improvement process pushes the company from different angles to achieve strategic goals and plans. One of the important processes of patient care is proper medical documentation and updated medical records. Description of chosen process Accurate and complete medical documentation is the responsibility of medical transcriptionists. However, the challenges to medical transcriptionists and the medical transcription industry are complex and varied. Pressures associated with cost, demand, workforce limitations, technological development, globalization, policy and awareness issues come together to create a picture that changes depending on one’s perspective and point of view. Trying to assemble these factors...
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