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Module 4,5,& 7 Strategic Management - Essay Example

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Entertainment / gaming industry has seen major changes in industry culture. Mandalay’s signature theme resort concept aside, entertainment / gaming is no longer a Las Vegas’, Sin City’s, exclusive monopoly over gain, fun and play. Internet gambling, an increasing…
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Module 4,5,& 7 Strategic Management
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Download file to see previous pages Geographically, U.S. entertainment / gaming spread is limited, basically, to Las Vegas, Illinois, Mississippi, New Jersey, and Atlantic City. City councils, reluctant to provide development properties and licenses to casinos / hotels, constitute a major drawback for entertainment / gaming industry’s expansion plans. Expanding abroad is one strategy entertainment / gaming major players resort to in order to make up for slowing returns inside and to avoid prolonged licensing procedures. Further, given heavy investments in real estate developments, a typical entertainment industry strategy for growth (Ross, Keeffe, & Middlebrook, 2006), market expansion based on property development is both an opportunity during booms and a threat during recessions and economic down turns (Stein, 2009).
Given no public mission statement exists for Mandalay Resort Group, Mandalay’s vision should build upon company’s founders’ conception of fun, play, and entertainment. Future actions by Mandalay should center on insights possibly translated into following set of goals and objectives:
1. Expanding on concept of “entertainment” such as to, on one hand, approach “gaming” players (e.g. Nintendo) whose main target (teens, young adults, and family) borders on Mandalay’s (e.g. themed parks, play areas, and “low roller” clients) and to move away from wrong-doing characterization associated with gaming and gambling industry upon entering markets (e.g. Middle East) whose local cultures regard gaming – and enjoyment of it – as sinful, on another.
3. Investing wise in real estate developments especially in local market (i.e. U.S.) in which gains achieved during booms cannot be guaranteed at sustainable levels during recessions and downturns – let alone negative public image impressions of a luxurious facility / development, working great as fun and entertainment destinations during booms, but questioned as extravagancies and spoils during hard ...Download file to see next pagesRead More
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