MGM International Resorts Case Analysis Memo Essay Example for Free

MGM International Resorts Case Analysis Memo Essay To: James J. Murren From: Date: November 18, 2013 Subject: Issues of MGM International Resorts I am writing this letter in order to address the slow recovery of your company. It has come to my attention that your company, MGM International Resorts, is facing some major issues as the gaming and hospitality industry struggles to recover. In this letter I plan to address the industries problems, and the specific issues that your company is facing. One of the major issues facing MGM International Resorts is that it is that the industry has a lot of overcapacity as demand has dropped from pre-recessionary evels when many big projects have been planned. This is evidenced by your companys ambitious pre-recession project CityCenter, the largest private development project in United States history. CityCenter ended up opening to little fanfare. The biggest sources of revenue in the industry were conventions. Due to the economic downturn in 2008, revenues from Conventions have decreased dramatically and have not fully recovered. Trade shows, associations and corporations traditionally paid a premium to meet in Las Vegas. Now with fewer organizations meet in Las Vegas, they can now negotiate lower prices. There are now increased leisure travelers going to Las Vegas to fill discounted rooms but does not help you increase revenue much as they do not like to spend money on your high end shopping and dining venues. Americans are also deciding more carefully spend their money preferring staycations in order to save money on increasing airfares and travel costs. This is mainly due to the decrease in discretionary spending of 43 percent from December 2007 to January 2011. The road to recovery from the start of the economic recession for the industry is slower than predicted. Your company also aces strong competition from competitors such as Wynn Resorts and Las Vegas Sands who have managed to fare in the recession substantially better. MGM Resorts Internationals financial statements are not very good relative to your competitors. Your company had a degradation of financials compared to your competitors whom of which fared the recession much better. Your company is highly leveraged with net debt to EBITDA of 1 1. 5 times. Boyd, Las Vegas Sands have lower debt leveraging at 8. x, 3. 3x, 3. 4x, and 1 . 9x respectively. You are also not as widely diversified in regional American markets such as in the Northeast. Your company has recently lost money posting a net loss of 1,437. 4 million in 2010. I will first analyze the health of the gaming and hospitality industry in Las Vegas in which you compete using Porters Five Forces of Competition Model. The indus try faces a lot of substitutes which your customers flock to. There is online gambling. This may keep people from flocking to casinos to gamble as they can conveniently do it at home. There are also closer example of this would be Empire City Casino in Yonkers, NY. It is only half an hour way from New York City and very convenient for those in the area who would Just like to gamble for a night and return home. You do not face a very large threat from new entrants as the capital requirements to enter the gaming and hospitality industry are very high. Customers are able to easily switch from staying on your properties to another companys property. Your company also possesses a wide variety of products that are differentiated. That being said, Industry Rivalry between you and your competitors are very high. All companies in the industry are on fairly qual ground ever since the recession. The costs to exit this industry are also very high. Customers again have very low switching costs and may switch between different properties as they see fit and the large excess in capacity in the industry means that you and all your competitors are cutting prices on rooms and services in order to attract business. The industrys suppliers of hospitality related supplies, such as food bed sheet and soap, and casino/gaming specific supplies, such as slot machines and thousands of decks of cards, have very weak bargaining power. The ew large companies within the gaming and hospitality industry have the bargaining power with when it comes to its two supplier lines as there are many of these suppliers to buy from while only a few large companies that are willing to buy. The ability to use a companys size to negotiate price and length of contracts for expensive high luxury furnishings and exclusive rights to a show or celebrity chef also gives the gaming and hospitality industry strength. While bargaining power of the suppliers is weak, the bargaining power of buyers is very strong. Customers have ery low switching costs and again the large excess in capacity in the industry means that you and all your competitors are cutting prices on rooms and services in order to attract business. Conventions, which are a large part of revenue have been on the downturn compared to capacity, again forcing prices downward. Buyers in the industry are also very price sensitive with many opting to take staycations where vacationers enjoy their time off closer to home. All of these forces add up to an industry that is relatively weak and recovering very slowly. Using the growth-share nalysis, your company is positioned as a cash cow which is very good. Your company has high market share in a slow growing industry. The company should worry though as it is close to being a dog of the industry as it has a lot of debt from ill-timed large projects such as CityCenter and must worry about other companies stealing market share as they are recovering faster. The industry is very capital intensive which means a lot of revenue is being reinvested back into the business. I will now analyze your company through SWOT Analysis. Your company has quite a few strengths that ill help your company into the future. Your companys large size gives it the upper hand in negotiating the best prices from its suppliers. It is very advantageous that your company caters to a wide range of customers from the high-end consumers with resorts such as the Bellagio offering exclusive products to the value-minded consumers with Circus Circus. Your ability to provide superior customer service by recruiting, training and retaining the best most motivated individuals is very valuable in your company. Your marketing and sales activities are another strong suit which compliments your services.

The Death Penalty Essay -- capital punishment, death penalty

As of January 1, 2010, 3,261 people live on death row (â€Å"Death†). Fewer than 3,261 people live in my small town of Belle Plaine, so to me this number is outrageous. Inmates that wait on the death penalty jail create a problem for everyone in the country. If we would put these inmates through the death penalty quickly, we could take the problem away from the country. Why do we keep murderers and criminals on death row around? People argue the controversial topic of the death penalty very thoroughly, and address all sides. On one side people argue that we would save money and the death penalty sets an example for other criminals, while on the opposition people argue that life without parole is cheaper, capital punishment is morally wrong, and innocent people mistakenly are killed. The United States abolished the death penalty, also called capital punishment, in 1963. Throughout the 1960s, the Supreme Court battled many cases involving whether the death penalty should be allowed. The Supreme Court finally ruled in 1976 that the death penalty be enforced by the states that wanted it and not enforced by those who do not want it. Currently in the United States, thirty-five states have the death penalty, while fifteen do not. Even though some states have the death penalty, seven states have not performed any executions. Seventy percent of the public approves of the death penalty to be enforced throughout the states (Robinson). I also support the death penalty, and I think the death penalty should be enforced for many cases. Capital punishment would save money throughout the nation. Ten years ago, the average cost for an inmate was $22,650, and now ten years later the cost has only risen. (Stephan). This $22,650 may not... ... Richard Dieter. Death Penalty Information Center. N.p., 2010.Web. 28 April 2011. â€Å"Death Row Inmates by State.† Chart. DeathPenalty.org. N.p., 20 September 2010. Web. 25 April 2011. Feingold, Russ. â€Å"Irrevocable Mistakes.† ProCon.org. 7 Feb. 2007. Web. 28 April 2011. â€Å"Number of Executions.† Chart. DeathPenalty.org. N.p., 20 September 2010. Web. 28 April 2011. Sharp, Dudley. â€Å"Cost of Death Penalty vs. Life in Prison.† ProCon.org. 1 Oct. 1997. Web. 26 April 2011. Robinson, B.A. â€Å"Part 1: Death Penalty Data.† ReligiousTolerance.org. Ontario Consultants on Religious Tolerance., 7 Dec. 2009. Web. 25 April 2011. Stephan, James J. â€Å"The High Cost of Imprisonment in America.† Noor’s List. Tina Dorsey and Tom Hester., June 2004. Web. 26 April 2011. â€Å"Top 10 Pros and Cons: Should the Death Penalty Be Allowed?† ProCon.org. N.p., 14 April 2009. Web. 26 April 2011.

Behaviour policy Essay

Behaviour policy is a guideline to all staff on how pupil behaviour should be managed it is important that this policy is constantly being applied to ensure full safety of the pupils; this is why all staff must be familiar with this policy. The policy outlines the schools aims of how to create a positive community atmosphere in which children can learn effectively by showing good standards of behaviour. The school aims to identify and respond to good behaviour in children, promoting a positive classroom environment where children with good behaviour and work are recognised. It outlines rewards & sanctuary’s and sets put a code of conduct that all children staff, parents and governors should be aware of. Although good behaviour is encouraged in schools, children will still behave inappropriate at times consequences for bad behaviour †¢Name on the board (sad face) †¢Miss time out from golden times, break or lunch play. Be sent to the head of year / deputy head †¢Be sent to the head teacher and a meeting with parents. Good Behaviour †¢Full golden time awarded †¢Raffle tickets gained †¢Star of the day †¢Extra time to choose activities †¢Certificates in Friday assembly All staff can give certain rewards and sanctuary however some may be given by a certainmember of staff for example, if you behave well you may be chosen to put your name down on the deputy chart and then at the end of each term a prize is given to the one that is chosen.Golden rules †¢Always do your best †¢Be proud of our work and our school †¢Be polite at all times †¢Respect each other’s property †¢Treat other as we would like to be treated ourselves Bullying policy is there to prevent and deal with any behaviour that is bullying, and to promote an ethos where bullying is regarded as unacceptable, so that a safe and secure environment is created for everyone to learn and work in. This policy applies to everyone in, and every one visiting, our community. The setting policy includes guidance on how to prevent bullying. Discusses monitors and reviews our anti-bullying policy on a regular basis. Supports staff to promote positive relationships and identify and tackle bullying appropriately. Ensures that pupils are aware that all bullying concerns will be dealt with sensitively and effectively that pupil feel safe to learn and that pupil go by the bullying policy. Reports back to parents/carers on bullying and deal with complaints. Definition on bullying is name calling, taunting, mocking, making offensive comments,; kicking; hitting; taking belongings; inappropriate text messaging and electronic messaging (including through web-sites, Social Networking sites and Instant Messenger); sending offensive or degrading images by phone or via the internet; producing offensive graffiti; gossiping; excluding people from groups and spreading hurtful and untruthful rumours. Bullying can happen to anyone the policy covers all types of bullying including: †¢Bullying related to race, religion or culture. †¢Bullying related to special educational needs. †¢Bullying related to appearance or health conditions. †¢Bullying related to sexual orientation. †¢Bullying of young carers or looked after children or otherwise related to home circumstances. †¢Sexist or sexual bullying. †¢Cyber bullying.

Business Communication Challenges - Free Essay Example

Sample details Pages: 7 Words: 2073 Downloads: 8 Date added: 2017/06/26 Category Business Essay Type Research paper Level High school Did you like this example? BUSINESS COMMUNICATION MULTI-SEGMENT INTERVIEW PROJECT 1. EXECUTIVE SUMMARY The purpose of this research is to understand different communication challenges that individuals face at their work place in New Zealand. In completing this research I have learnt that if I go through these communication challengers in future I will know how to overcome these problems. Don’t waste time! Our writers will create an original "Business Communication Challenges" essay for you Create order This report was conducted through selecting three different participants from a work environment within New Zealand. This was followed by sending a letter requesting for their participation in a research interview in regards to communication challenges that individuals face in New Zealand working environments, on a proposed date. Once the letter was accepted and approved the interview commenced. The interview consisted of ten questions. After the interview, emails were sent to thank them for their participation in the research interview project. This report has examined extensive range of communication challenges that employees face in New Zealand working environment. Example Misunderstanding arising from improper verbal communication- for example, where employees within a personnel agency do not use proper verbal cues such as, speaking clearly and asking feedback, then candidates may not understand what is required of them and hence perform inadequately. Therefore, it is essentia l that employees ensure they speak clearly, and require feedback from candidates to ensure candidates understand what is required of them. Another barrier that affects communication is Language barrier between national and foreign individuals à ¢Ã¢â€š ¬Ã¢â‚¬Å" for example, in a New Zealand retail environment; foreign customers cannot fluently speak English. This in turn, leads to misunderstanding and confusion between the employees and their customers. Accordingly, organisations should employ individuals from multicultural background who possess bilingual language ability. In addition, it may prove to be useful if organisations maintain a foreign language dictionary or language translator application. Effective communication results when communication is so clear that there is understanding between the sender of the message and the receiver of the message. 2 Table of contents: Executive summary Table of contents 2.0 introduction 2.1 terms of reference 2.2 objectives 2.3 methodology 3.0 findings 3.1 participant 4.0 participant 5.0 participant 6.0 conclusion 7.0 references 8.0 Apendicies 3 2. INTRODUCTION Communication can be defined as the, message, or information, as by speech, visuals, signals, writing or behaviour (Wikipedia Org, 2012). Communication allows an organisation to achieve their goals. Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s important because it helps people to understand each other better. Communication can be verbal communication and non-verbal communication. The verbal communication is communication using words or language and communicating face to face, such as words, sounds, speaking and language. Some characteristics of verbal communication. The two categories of communication are verbal communication and non-verbal communication. The verbal communication is communication using words or language. Language is useful tool because, if we use it effectively, language can convey knowledge and establis h connection across time and space. (Oà ¢Ã¢â€š ¬Ã¢â€ž ¢Rourke and Barnett, 2008:Pg32). Non-verbal communication is very broad term and covers all the ways we send message (either deliberately or unintentionally) without using words. (Oà ¢Ã¢â€š ¬Ã¢â€ž ¢Rourke and Barnett, 2008: Pg135) Consider the objective Be sincere Use simple language, familiar words Be brief and precise Use polite words and tone Non-verbal communication includes all written and unspoken message both intentional and unintentional. Some features of non-verbal communication. Non-verbal communication flows through all acts of speaking or writing They are word less message Is a creative activity which comes through stimuli produced by mind In communication there are barriers. Some of these barriers are: 4 Physical barriers-is distance between people at work place Emotional barriers-anything we say can be used against us Cultural barriers-people from different cultures interacting which is difficult to understand. Language barriers-use of heavy jargon and technical language in conversation Interpersonal barriers-exchange of information between two or more people 2.1 Terms of Reference: It is an assessment component of a multi-segment project for business communication paper. The main purpose this interview research was to find out communication challenges people face while working in New Zealand environment. Our course tutor Miss Sheetal Singh has stated to write a report that is based on communication challenges faced by employees at the work place and analyse the possible solutions for the challenges faced. The importance of communication skills is evident in all aspects of life. For example, in the workplace, a lack of communication results in misunderstanding and builds emotional walls. These barriers create a huge dimension of issues. The barriers are physical barrier, technical barrier, physiological barrier, and psychological barrier. Effective communication results when communication is so clear that there is shared understanding between the sender of the message and the receiver of the message. Communication challenges are f aced by every individual within an organisation; therefore, it is essential to overcome communication challenges in order for organisations to achieve its strategic goals. 2.2 Objectives: The purpose of this research was to find out different communication challenges faced by people at workplace in New Zealand. What are the effects of these communication challengers in peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s lives at their work place? How to overcome these challengers with possible solutions. 2.3 Methodology: The research work carried out for this report was mostly primary researches and partly secondary because this research was done through selecting three different participants from different work environments within New Zealand. My primary research was done by sending letters requesting for their participation, on a proposed date. Once the letter was accepted and approved the interview was conducted. The interview consisted of eight questions. Lastly emails were sent to thank them for their participation in the research interview. And secondary research was done by the use of books and internets to gather more information. 3.0 Findings: 3.1 Participant: A Participant A, Mr.Nicoll has been in New Zealand for years and currently working as a sales manager at Euro glass at one of the retail outlets in mount roskil.. He has been working there for nearly 8years. His general responsibilities are customer service pricing work. These few years he has been faced with extensive communication challenges which includes; 3.2 Communication challenges and effects: Cultural problems à ¢Ã¢â€š ¬Ã¢â‚¬Å" since it was a multicultural environment at work he got to meet a lot of different cultures of people working together. People communicating there to each other were difficult for him to understand them because they used to communicate in their own language which she was not familiar with. He found it was offensive since he didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t know what actually they were talking about, was it about her or someone else or work. 3.3 Strategies to overcome challenge: Interact more with people who are from different cultures , he tried to ask his workmates if he can hangout around with them and to be friends with them so that she can understand them better and at the same time learn little bit about their language, culture and values. He also made a lot of effort to spend more time with his valued clients as they are the ones that bring more work for him. 4.0 Participant: B Participant B, Miss Pritika Mohan has been in New Zealand for nearly 10 years now and is currently working for one of the biggest exports company which is known as DHL Global fording (NZ) for 3 years now. Her general responsibilities are to order new stocks, stock rotation, make displays, stock refilling and order credit notes. The main challenging issue with her when he started were; 4.1 Communication challenge and effect: Physical barrier due to area spaces (isolation) which could prove difficult for employeeà ¢Ã¢â€š ¬Ã¢â€ž ¢s to have effective communication since he was a merchandiser it was hard for her to communicate with other workmates because all of them were allocated to different so they hardly meet or see each other and psychological barrier due to workload distribution, its caused communication melt down with other employees. 4.2 Strategies to overcome challenges: Management should encourage socializing by hosting monthly lunch. Provide English class to employees, proper planning of roster to disturb workload equally. Development of new technology by company through installing phones in every department to improve communication. 5.0 Participant: C 5.1 Background: Participants C, Miss Reshni jeshika Lata has been working for Mobil Walmsley in New Zealand as customer service and multitask. Her everyday duties were customer service and database collection that is entering of items in system, balancing and ordering. Over the months she has been faced with extensive communication challenges including; 5.2 Communication challenges and effects: Language barrier- Participant was facing difficulties to understand workmate because the colleague was speaking very fast and she had problem in understanding their language, she was not that fluent with local language. People at work place had thick accented that made it difficulty in understanding them: for example the workmate was not communicating face to face and there was no eye content which became a barrier. Tasks were incorrectly performed: the participant did not understand what the colleague was saying, and she couldnà ¢Ã¢â€š ¬Ã¢â€ž ¢t figure out wh at work was to be done. She performed all work incorrectly. 5.3 Strategies to overcome challenges: Interacting more with people of different cultures à ¢Ã¢â€š ¬Ã¢â‚¬Å"participant should interact more with other people for example after work, going out at and socialise with individuals. Asking for feedback- if she is not sure of anything that how and when it is to be done, she should always ask the superiors. Active listening- she should be listening carefully so that she can understand. The colleague should speak clearly, and making sure that she have understood everything, and also giving her feedback once she have finished the task. 6.0 Conclusion: Summary of findings: In conclusion, this report has examined extensive range of communication challenges that employees face in New Zealand working environment. These challenges include: Cultural communication is where employees within a organisation do not use proper verbal language such as, speaking clearly and aski ng for feedback, then people may not understand what is required of them and leading not performing well. Therefore, it is important that employees speak clearly, and require feedback from people to ensure candidates understand what is required of them. Language barrier between workmates and individuals à ¢Ã¢â€š ¬Ã¢â‚¬Å" for example, in a New Zealand retail environment, people from different country cannot fluently speak English. This leads to misunderstanding and confusion between the employees and their customers. Organisations should employ individuals from multicultural background who possess different types of language ability. In addition, it may would to be useful if organisations keep a foreign language dictionary or language translator application. Physical and physiological barrier for example, a retail company employs a diverse range of individuals so they need to communicate to reach to their goalà ¢Ã¢â€š ¬Ã‚ ¦working in distance from each other during works hour s wonà ¢Ã¢â€š ¬Ã¢â€ž ¢t lead to effective communication, people will have pace between them giving a understanding of being left out. Employees wonà ¢Ã¢â€š ¬Ã¢â€ž ¢t know each in the same company these individuals include some who are new into the country. Even too much work load can lead people into stress which leads them to not perform well at work, causing error and mistakes at work. In addition, they should require feedback from employees to ensure message is effectively communicated and they are comfortable. Implications: If challenges are not solved, its impact on businesses will be: Not having proper understanding can lead to arguments and fights in the organization. Words and Slangs we say in our language could often mean something else in someone elseà ¢Ã¢â€š ¬Ã¢â€ž ¢s language; it could be offensive in many ways and affect co-workers in organization. Poor communication skills can lead to communication gaps, by comparing higher and lower status leading people misunderstanding between them. Recommendations: After finishing this interview report, I would like to recommend that: People should Learn other peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s language. About the different cultures. Getting involved with the people around you. Use of gestures while communicating The company should have a diverse workforce to ensure employee needs are met These recommendations will help an organisation to communicate effectively, which in turn, will help it to achieve its strategic goals. 7.0 References: Wikipedia Organization. (2012). Communication. Retrieved: 5 August 2012 from https://en.wikipedia.org/wiki/Communication https://everydaylife.globalpost.com/examples-barriers-communication-4294.htm https://www.wikihow.com/Develop-Good-Communication-Skills 8.0 Appendices: 560:Business communication Multi-segment interview project QUESTIONAIRE What is your current position in the company? How long have you been working for this company? What means of communication do use the most during working hours? Give a brief description of your roles and responsibilities? Have you ever faced communication challenges at your work place? Briefly describe these challenges and how did it affect you and your work? Does working alone help finish work on time and why? What kind of people do you find difficult to work with? Why?