In this assignment, you will write a 3-4 paragraph critique about a fellow student’s case analysis (that has been chosen and assigned by the instructor). That will be posted in the case Discussion forums, as well as submitted for grading to the assessment page of the course. The critique should be concise and compelling and should propel a broader discussion among the rest of the class. Your book will serve as a resource, but research is required to support recommendations.
To complete the peer critique, you will prepare a 3-4 paragraph critique that addresses the following questions:
- Does the analysis present key information clearly and effectively?
- Are the key points presented in the case supported by information from the case and/or research?
- What components do you feel are most compelling?
- What components do you feel could be more fully supported?
- Overall, were you convinced with the analysis presented in the case?
- Analysis the case which is attached as a file below.
- No plagiarism
Instructions In this assignment, you will write a 3-4 paragraph critique about a fellow student’s case analysis (that has been chosen and assigned by the instructor). That will be posted in the case D
13 Case Analysis 2 Name BUSI 4153 Business Strategy University Professor Michele Vincenti August 25, 2022 Case Analysis 2 Introduction This paper will describe the internal and external factors that can enhance growth strategies of casino industry. This will include identification and focus on the SWOT analysis for this industry. In addition, these internal and external strategy tools are SWOT, BCG, IE and QPESM. Casino industry is huge around the globe and can be profitable and may include some uncertainty that will be mentioned in this paper. New vision and mission For this industry to be safe, fair and honest is the main motive so that people do not feel harm from this part of the society. People who are not interested in this society or minors must be treated with equality and given a proper independence foe doing so. With the help of technology and computer vision, it has given the new vision to this industry as the virtual world of gambling looks to extend more in the future. Why it is better than before is because of the convenience it provides to the customers as they can have access to everything related to gambling from the comfort of their home. People are free to choose their favorites and play at any time. SWOT analysis SWOT analysis is a tool that helps to identify what are the strengths, weak points, future opportunities, and risks involved with it. SWOT analysis for casino industry have lots of profitable opportunities and threats. Strengths The casino gambling business, which is subject to stringent government controls, has long served as a major source of entertainment for citizens in many nations. As a segment of the commercial gambling sector, casino gaming continues to gain popularity because of the creation of new locations and increasing importance on online gambling and casino platforms. The state of the economy, the level of employment, and people’s disposable incomes all have a significant impact on the dynamics of the casino gaming sector, which in turn affects how much money patrons are willing to spend. The primary industry growth engine is online casino gambling (Markets, 2022). Revenue in casino industry has increased a lot from past years, it was around 20.96 billion dollars in 2022 according to Statista in U.S alone. Casino industry is very attractive to tourist as well. Weakness Weakness for casino industry is poor marketing and advertising strategies. Casino industry did not focus much on advertising much as other businesses. Secondly, number of people who pays debt in casino industry is also unpredictable. Large capital investments by businesses can lead to significant debt. Players can fail to pay their obligations on time or at all, which results in huge receivables (Statista, 2022). Opportunities The revenue has increased quickly in recent years. It has prompted other nations to think about expanding their gambling regulations. Each year, gaming manufacturers release a variety of new games, and they also employ video game creators from the gaming business that can be beneficial for this industry. Additionally, by allowing players to utilize their accumulated credits to visit other casinos, other reward systems may be developed for their continued loyalty. Threats There are some uncertainties that can affect casino industry such as economic condition of countries, legal obligations, rescission and change in people`s preferences. Similar to how economic situations may be unexpected, gambling can also be. Consumer spending also decreases as consumer income does, which hurts the industry. Additionally, the dependency on regulators is another significant drawback the gaming sector has. SPACE Matrix The meaning of BCG matrix is a team working and mainly shows the different types of products of the organization. BU Is a showing the market size as well as market progress on the x-axis and y-axis respectively. In the case of business, it is mainly used for the market share and development part. There are four different types of the quadrant, such as cash cows, Stars, question marks and Dogs. And it shows the different types of business units. there are four different quadrants, There are four different quadrants: When the business has a high share and low growth at the same time. So, in this case they need to give milk to the cash cows because you can reinvest the cash. 2. When they have a high share but they have high growth too. Then the company always tries to invest in the stars the reason behind this is that they have a strong future. 3. Same as they have high growth but they have a low share. Then they have only one chance or choice such as they can invest in the question mark, then they need to depend Upon them to become a star. 4. Lastly when they have less growth and same less growth. Companies should liquidate, divest, or reposition these pets. (EMBA, n.d.) BCG Matrix On the report of BCG, Element which belongs to stars act for big market shares in that zone which growing rapidly. Most of the sections produce cash in fast a fast-growing market. They spend a large amount of money to maintain the market level same. Moreover, the most self-deprecating is a net cash flow unit. In this way, strong and well-built Strategic Businesses (SBUs) parts are more captivating in their level. A big group of companies are much more aggressive than the other sides. Space matrix: It is an important thing because it is used to identify the different type of strategy of an organization need to adopt. In the upcoming paragraphs, I will discuss all the parts. Competitive Industry X Axis -1 product quality -3 market share -4 buyers’ loyalty -1 how to know technology -4 suppliers controlled -2 life of the product +2 ease of entry +3 expectation of growth +2 how much is the profit +6 how much know about technology +4 how much is the stability of finance The total score is +1.29 Financial Environmental Y Axis +4 capital of work +2 liquidity +4 what is an investment on return +2 how many can exit it +2 how much is the risk +5 leverage -2 what is the price of the product -3 how much change you can in technology -4 what can be the difficulties of new entry -3 how much demand is changed -5 how much and many competitive in the market. The total score is -.24 (Mbalelectures, n.d.) IE Matrix IE matrix is defined as the matrix which defines the internal and external analysis of the business. this matrix is combined with the suggestion model. This matrix is easy to understand and the input meaning of the company is easy to inside the company. This matrix is based on the company’s key external and internal facilities. This matrix is used for so many purposes like this is used for the understanding of the swot analysis of the company. Moreover, this matrix also explains the future of the casino industry in the future they are building one of the biggest hotels in Los angles and there are a total of 3500 rooms in that hotel. Moreover, the total gambling space in that hotel is 175000 there is also a casino in Macau but there is huge competition for that casino. Therefore, to manage the competition they are using some tricks like they give double supply in the hotel room to their customers. Internal factor evaluation within a score External factor evaluation weighing score Strong (3 TO 4.0) Average (2.0 TO 2.99) Week (1.0 TO 1.99) High (3.0 TO 4.0) Winner (Grow and build) Winner (Grow and build) Hold and maintain Medium 2.0 TO 2.99 Winner (Grow and build) Hold and maintaining Hold and maintain Low 1.0 TO 1.99 maintaining holding QSPM Matrix QSPM matrix is defining the set of the different strategies. In this matrix, we are going to describe the strength, weakness, opportunity, and threat and we also provide the weight of all alternatives. There are some steps we need to follow for the QSPM matrix 1. Determine the strength and weakness 2. defining opportunity and threat 3. make the weight of the criteria 4. give alternatives score Criteria weight Alternative Score Total Attractiveness Strength Sources of entertainment and new locations Attraction of tourists 15% 30% 0.30 1.20 Weakness Advertisement and Marketing Strategy Unpredictable debt paid by people 35% 20% 1.05 0.60 Weights Total 100% Opportunities Legalization of gambling activities Manufacture of new video games in the casino 30% 15% 1.20 0.30 Threat Economic condition of country (RECESSION, LEGAL OBLIGATION) Decrease in customer spending 25% 30% 0.75 0.60 Weights total 100% Conclusion Overall, it can be said that the casino industry is moving well with the time and more and more countries are making it legal. Gambling also proves to be good for some of the countries economies as they grow more with it. Due to COVID19, the industry suffered some loss but it has revolutionized it as well because the virtual casinos are the future of this industry as more and more people are interested in this because of the convenience it provides. References EMBA. (n.d.). Casio Computer (Japan) SWOT analysis / SWOT matrix. Retrieved from embapro.com: https://embapro.com/frontpage/swotcoanalysis/14191-casio-computer Lock, S. (2022, July 15). Casinos worldwide – statistics & facts. Statista. https://www.statista.com/topics/1053/casinos/#topicHeader__wrapper Markets, R. A. (2022, March 4). Global Casinos Market Report 2022–2026: Evolution of Gambling – From Cards to Cryptocurrency Gambling. GlobeNewswire News Room. https://www.globenewswire.com/news-release/2022/03/04/2397011/28124/en/Global-Casinos-Market-Report-2022-2026-Evolution-of-Gambling-From-Cards-to-Cryptocurrency-Gambling.html Mbalelectures. (n.d.). Space matrix of harrah’s entertainment. Retrieved from MBA Lectures: https://mba-lectures.com/management/strategic-management/1011/space-matrix-of-harrahs-entertainment.html (QSPM) QUANTITATIVE STRATEGIC PLANNING MATRIX. VK. (2022). Retrieved 25 August 2022, from https://vk.com/@fefusemforeignstudents-qspm-quantitative-strategic-planning-matrix#:~:text=The%20Quantitative%20Strategic%20Planning%20Matrix,match%20strategy%20for%20the%20organization. Statista. (2021, September 30). Industry revenue of “casinos (except casino hotels) “in the U.S. 2012–2024. https://www.statista.com/forecasts/409832/casinos-except-casino-hotels-revenue-in-the-us Statista. (2022, June 9). Number of commercial casinos in the U.S. 2005–2021. https://www.statista.com/statistics/187972/number-of-us-commercial-casinos-since-2005/ What Is a BCG Matrix? (With Definition, Tips and Examples). Indeed, Career Guide. (2022). Retrieved 25 August 2022, from https://www.indeed.com/career-advice/career-development/what-is-bcg-matrix#:~:text=It%20is%20a%20framework%20for,axis%20that%20represents%20market%20share. (2022). Retrieved 25 August 2022, Retrieved from https://www.mbaknol.com/strategic-management/internal-external-ie-matrix/#:~:text=The%20IE%20Matrix%20is%20a,combined%20into%20one%20suggestive%20model.