...Are the current corporate social responsibility policies employed by online gambling companies proportional to the psychological impact the industry has on its consumers? A critical review of the UK online gambling industry. Andrew Macdonald March 2013 MA (Soc) Business and Management University of Glasgow 1 CONTENTS 1 Introduction.....................................................................................................3 2 Literature Review............................................................................................5 Introduction and Definitions.................................................................................5 Justification of Research.....................................................................................8 CSR within Online Gambling.............................................................................10 Psychological Aspects of Online Gambling........................................................13 3 Methods.........................................................................................................19 4 Findings.........................................................................................................25 Survey Results...................................................................................................25 CSR Policies......................................................................................................30 Socially Irresponsible Practices............
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...Comparative analysis of the gambling industry in India & the United States of America (USA). Study @ New York University. By: Anupam Sabat, 3C BBA Amity International Business School, Noida. Acknowledgement At the onset, I would like to thank our esteemed faculty at Amity International Business School, Prof. Dr. Arun Sacher, for his encouraging words and his guidance. It was really he who constantly motivated us & pushed us to our limits & in the process, helped us realize & scale newer & higher peaks. He constantly challenged us to strive for excellence & in doing so, enabled us to perform to the best of our abilities. INTRODUCTION Gambling is one of the oldest industries in the world. According to the UK Gambling Act 2005, betting or gambling means ‘the making or accepting of a bet on the outcome of a race, competition or other event or process; the likelihood of anything occurring or not occurring; or whether anything is or is not.’ It is regarded by some as a vice and sinful activity which corrupts the society. Others view gambling as a harmless form of entertainment (I, personally, believe in the latter notion). Some also look at it in economic terms. Legalized casino gambling, be it in Las Vegas, London and/or Macau rose out of the desire for economic stimulus. Overall, society has taken a cautious view of gambling. Only limited types of games are legalized. The reason for gambling being heavily regulated (and...
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...2.1.1b Business-to-Business (B2B) Venture 3 2.1.2 Political/Legal 3 2.1.2a Offensive Ad 3 2.1.2b Under-age Bet 4 2.1.2c Rob Keane’s Lawsuit 4 2.1.3 Economical 5 2.1.3a Global Economic Downturn 5 2.1.3b Foreign Exchange Rate 5 2.1.4 Socio-Culture 5 2.1.4.a Responsible Gambling 5 2.1.4b Sports and Social 6 2.1.4c Health and Safety Policy 6 2.1.4d Publicity stunts 6 2.1.5 Technology 7 2.1.5a Mobile Betting 7 2.1.5b Acquisition Cayetano 8 2.1.5c Marketing Strategy 8 2.1.6 Environmental 8 3.1 MICRO (THE COMPITITIVE ENVIRONMENT) 8 3.1.1 Supplier 8 3.1.2 Buyers 9 3.1.2 Competitors 9 4.1 Cultures and Globalization 11 5.1 Conclusions 11 Appendix 12 Works Cited 13 THE INTERNAL AND EXTERNAL BUSINESS ENVIRONMENT OF PADDY POWER 1.1 INTRODUCTION Paddy Power, Irelands biggest, most successful bookmaker is an international betting and gaming group. Since 2012, an estimate of €5 billion what of bets have been placed by Irish online gamblers alone (Duffy, 2015). In this case study, we will focus our environmental analysis on the bookmaking industry and Paddy Power in particular. This will include the internal, external analysis and how international management has affected the company. Why Paddy Power? The company claims to be the most innovative and security conscious bookmakers (Paddy Power, 2011). They have also drawn a lot of criticisms in the past of which some of them would be mentioned in this report. If you cant beat them, join them. Paddy Power although...
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...In what way should the UK CAP Codes (CAP/BCAP Codes) be reformed? “The alcohol industry spends more than £800 million annually in the UK on promotion” (Cabinet Office, 2003). This is one example why the Committee of Advertising Practice (CAP) codes and the Broadcast Committee of Advertising Practice (BCAP) codes are important in order to protect the vulnerable from this vast industry and maintain the public’s confidence in advertising. Consistent changes to our media and methods of communications has led to a dramatic impact on marketing methods and their extent thus requiring the codes to be consistently updated. It is possible to argue that the UK CAP codes have failed to keep up with these changes and need to be reformed especially when looking at alcohol advertising. The power, speed and volume of marketing communications has significantly increased in recent years and advertising now poses many challenging questions to its own regulations (alcoholconcern, 2011). The CAP codes are a code of practice which govern non-broadcast and broadcast adverts, marketing communications and sales promotions. The aim of the UK CAP codes is to lay down the rules for all advertisers, agencies and media industries (CAP, 2013). The codes simply do not focus just on goods and services, but they also enforce regulations on marketing communications which promote causes and ideas, however the codes do not cover political advertising. The advertising industry has taken the view that a self-regulatory...
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...the social audience among bookmakers, 330% - Increase in Paddy Power's social footprint since January 2012 Source: Paddy Power (BrandRepublic, 2012) QuBit Social score breakdown, July, 2012 Paddy Power have the strongest social presence: The QuBit social scores are calculated based on each company’s reach on each social network, which is then weighted based on the average time spent on the website and revenue driven through each source. Betfair and Paddy Power was the only site to have engaged across all five key social networks, with a notable presence on the rapidly growing site Pinterest, which has been found to proportionally drive far more revenue than Twitter. (Qubit products, 2012) The strength of brands within the online gambling industry is highlighted by high level of reach achieved through paid and organic brand searches. The brand name Coral clearly has the best brand paid and organic first page reach. William Hill and Bet 365 achieved the greatest reach through paid and organic high-traffic, which could prove the most lucrative in this market as these customers are less likely to yet have a specific brand...
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...ISSUES IN E-COMMERCE Electronic commerce or ecommerce is a term for any type of business, or commercial transaction that includes the transmit of information across the Internet. Electronic commerce has expanded quickly over the past years and is anticipated to continue at this rate, or even step-up. The innovatory development of network technologies began electronic commerce as a global trend. E – Commerce utilizes electronic systems for not only buying and selling of the goods and services but also in marketing, supply management, fund transfer. Today most of the businesses rely on electronic systems at least at some points. World Wide Web, the resultant of Internetworking is the main contributor where telephone, mobile phone, fax also serve the purpose. Even though e-commerce technologies provide great benefits, any kind of online transaction give potential for immense misuse of these technologies. Several organizations become the target of e-commerce related crimes ranging from virus assault to business frauds, including e-mail theft, stealing sensitive data of person and credit card information. U.S government’s new internet fraud center does a survey that gathers and studies consumer complaints. Online auctions make nearly 50% of the complaints obtained by the center. Other major types of complaints are security and commodities complaints 16.7%, credit card complaints 4.8%, identity thefts generate 2.9% of the complaints, loss of business chances 2.5% and professional...
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...TABLE OF CONTENT Executive summary ………………………………………………………3 Introduction ………………………………………………………………4 Company background …………………………………………………….5 Benefits of investing in the business ……………………………………..5 Dangers of investing in a Betting Corporation ……………………………7 Recommendations………………………………………………………….9 Conclusions…………………………………………………………………10 References…………………………………………………………………..12 Executive Summary Gambling is often considered an activity of probability that an individual is willing to participate so as they can quickly earn an extra amount of money. Such practices are often connected to series of games that offer chances for people to make money. Betting is often practiced in areas like the casino or the sporting villas. Similarly, the actions of betting have numerous benefits and disadvantages that are attached to it. Based on the pieces of information presented by various researchers, the effects of gambling are however addictive spending much of an individual’s time instead of paying more attention to activities that may add some value to the various kinds of jobs. On the other hand, gambling can be applied so as an individual can increase the levels of income to be used to run his/her business. Introduction Betting is a form of business that often entices people to participate so as they can get a quick turnover of their money. It is an activity that is often practiced in the urban centers in areas like the casino or pubs that hold the recommended type of license to carry on with...
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...the total marks), and ONE question from Section B. Section A. Answer all ten questions. Each question is equally weighted. 1. Economists analyse markets in terms of models which correspond to certain ideal types - perfect competition, monopoly, oligopoly and imperfect competition. Which of these models would you choose to analyse the following markets in the UK? minicabs in London – monopolistic competition potatoes – perfect competition water and sewerage services in London - monopoly package holidays - oligopoly fish 'n chip shops – monopolistic competition universities - oligopoly 2. The following table shows the output of an agricultural commodity over a ten year period together with the price output price (£/tonne) 2000 100 8 2010 200 12 Based on this data work out the coefficient for the elasticity of supply. Answer %∆Q= (200-100)/100x100=100 %∆P=(12-8)/8x100=50 PES = %∆Q/%∆P PES = 100/50 PES=2 When the coefficient is greater than one, the supply can be described as elastic. State whether the following statements are true or false and briefly explain why:- a) The supply of this commodity seems to be inelastic. False b) The percentage increase in output is more than the percentage increase in price. Therefore supply is said to be elastic. True c) We would expect supply to be elastic since it is easier for farmers to switch from growing one crop to another than it is for industry to switch from producing one...
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...A) Introduction: my task in this assignment is to investigate visitor attractions and visitors. I will use both books and websites to help with my research in this assignment. The aim of this assignment is to develop their understanding of the importance of both built and natural attractions to the appeal and popularity of destinations or areas within the UK and the world. b) A definition of visitor attraction: “A visitor attraction is a feature in an area that is a place, venue or focus of activities and does the following things: Sets out to attract visitors/ day visitors, Provides a fun and pleasurable experience, Is developed to realise this potential, Is managed as an attraction, Provides an appropriate level of facilities and services, May or may not charge an admission for entry”. (Walsh – heron and Stevens (1990) citied by Swarbrooke (2002) The term visitor attraction can be difficult to define because people can be easily confused as to the purpose of visitor attractions. Because many visitor attractions are different because some are either natural or manmade. Visitor attractions are classified by whether they are purposely built attractions, natural attractions or non-purpose built attraction C) London Eye: The London Eye is the tallest Ferris wheel in Europe, and the most popular paid tourist attraction in the United Kingdom, visited by over 3.5 million people annually each year. The London eye is situated in central London and is become a landmark for...
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...Islamic Finance is a financial system that doesn’t work like other conventional banking systems. It follows the Islamic law, Shariah, which doesn’t allow certain aspects of a normal banking system such as usury and speculation. There are some main principles to be followed in Islamic banking. First of all, it prohibits interest, or Riba. Riba is forbidden in Islam, and therefore Islamic banking system adopts the principle of profit and loss sharing. It also prohibits uncertainty, gambling, and prohibits certain products and industries such as alcohol and tobacco. Islamic Finance needs to be in accordance with the Shariah. All products and contracts follow Islamic principles that conventional financial systems do not, such as interest and risk sharing, and uncertainty. Conventional financial systems have never worked this way and it worked for them for many years until they were hit by the financial crisis. The crisis had a minimal impact on the Islamic financial systems because they did not comply with all the factors that created the crisis in the first place. There were 3 main factors in the creation of the financial crises. First, subprime loans, which was lending to certain people who did not have a good credit history and were bound to default. The banks than charged them with higher rates that increased their risk of defaulting. Secondly, there was securitization, which was creating securities from un-liquid assets. This process is used by banks to create securities from...
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...Introduction Human knowledge, refined by many generations, has not yet revealed all mysteries of the brain. The human mind is so complex that it becomes almost impossible to understand it through a mere set of rules. Still, thousands of attempts have been made to completely understand the mind and have control over it. Added to the list of thousands, here is one more proposal to gain a better understanding of the incomprehensible human mind through gamification. Evaluating individual performance within a given task can provide insight into the way one will act when dealing with real life situations. Industry Industry The proposed idea is the synergy of three main fields of study – psychology, economics and computer science, which can give effective results for industry purpose. Understanding Industrial psychology and exploiting it can change the way things work. Each individual has a unique sense dealing with his/her environment. Capturing their strategies, behavior and personalities while applying it to appropriate situation can yield far more effective outcomes. Personality Check Evaluating personalities through game playing without a questioner is the initial step to an advanced maneuver. Thematic Apperception Test (TAT), Rorschach test and zero acquaintance effect are some of the practical approaches to the intended design. Analysis will be carried out on the basis of the Big Five Personality traits (OCEAN)- Openness to experience, Conscientiousness, Extraversion...
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...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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...Task 1 Compare and contrast different organisational structures and culture of the following 3 organizations 1) http://arcedairy.com 2) www.dairyqueen.com.ph 3) www.ue.edu.ph 1. Company Information i) Background of Company ii) Industry situation iii) Missions Statement iv) Primary Business Activities a) Why they are important and b) How they are accomplished 2. Organizational Structure of Company i) Diagram 3. Value Chain & Critical Processes i) Chart 4.0 People Management i) Why people want to work here or looking for other opportunities. Task 2 Human behavior and values are not self-generating; they are by-products of culture. TRUE or FALSE Why? Task 3 • Explain how the relationship between an organisation’s structure and culture can impact on the performance of the business. I think many human behaviors are self-generating. If they weren't then there wouldn't be variations in social norms. Many people's values seem to run independant from their stereotypical social norms. There are just as many "Moral" athiest as there are moral religious people in how they treat others. There's also an equal number of immoral or amoral individuals spanning all cultures and races. If values were completely external, then all would conform. The way individuals react to social norms is an intrinsic,...
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...3 Industry Analysis: The Fundamentals When a management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact. —Warren Buffett, Chairman, Berkshire Hathaway The reinsurance business has the defect of being too attractive-looking to new entrants for its own good and will therefore always tend to be the opposite of, say, the old business of gathering and rendering dead horses that always tended to contain few and prosperous participants. —Charles T. Munger, Chairman, Wesco Financial Corp. OUTLINE n n n n n INTRODUCTION AND OBJECTIVES FROM ENVIRONMENTAL ANALYSIS TO INDUSTRY ANALYSIS THE DETERMINANTS OF INDUSTRY PROFIT: DEMAND AND COMPETITION ANALYZING INDUSTRY ATTRACTIVENESS Porter’s Five Forces of Competition Framework Competition from Substitutes Threat of Entry Rivalry Between Established Competitors Bargaining Power of Buyers Bargaining Power of Suppliers APPLYING INDUSTRY ANALYSIS Describing Industry Structure Forecasting Industry Profitability Strategies to Alter Industry Structure 66 INTRODUCTION AND OBJECTIVES 67 n n n n DEFINING INDUSTRIES: WHERE TO DRAW THE BOUNDARIES Industries and Markets Defining Markets: Substitution in Demand and Supply FROM INDUSTRY ATTRACTIVENESS TO COMPETITIVE ADVANTAGE: IDENTIFYING KEY SUCCESS FACTORS SUMMARY NOTES INTRODUCTION AND OBJECTIVES In this chapter and the next we explore the external environment of...
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...3 Industry Analysis: The Fundamentals When a management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact. —Warren Buffett, Chairman, Berkshire Hathaway The reinsurance business has the defect of being too attractive-looking to new entrants for its own good and will therefore always tend to be the opposite of, say, the old business of gathering and rendering dead horses that always tended to contain few and prosperous participants. —Charles T. Munger, Chairman, Wesco Financial Corp. OUTLINE n n n n n INTRODUCTION AND OBJECTIVES FROM ENVIRONMENTAL ANALYSIS TO INDUSTRY ANALYSIS THE DETERMINANTS OF INDUSTRY PROFIT: DEMAND AND COMPETITION ANALYZING INDUSTRY ATTRACTIVENESS Porter’s Five Forces of Competition Framework Competition from Substitutes Threat of Entry Rivalry Between Established Competitors Bargaining Power of Buyers Bargaining Power of Suppliers APPLYING INDUSTRY ANALYSIS Describing Industry Structure Forecasting Industry Profitability Strategies to Alter Industry Structure 66 INTRODUCTION AND OBJECTIVES 67 n n n n DEFINING INDUSTRIES: WHERE TO DRAW THE BOUNDARIES Industries and Markets Defining Markets: Substitution in Demand and Supply FROM INDUSTRY ATTRACTIVENESS TO COMPETITIVE ADVANTAGE: IDENTIFYING KEY SUCCESS FACTORS SUMMARY NOTES INTRODUCTION AND OBJECTIVES In this chapter and the next we explore the external environment of...
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