(MGM Mirage) SWOT Analysis

Strengths


§  Reputable brand: MGM Mirage is one of the world's leading and most respected companies with significant holdings in gaming, hospitality and entertainment. (MGM Mirage n.d.)

§  Successful business model:  MGM Mirage owns and operates 16 properties located in Nevada, Mississippi and Michigan, and has 50% investments in four other properties in Nevada, New Jersey, Illinois and Macau. CityCenter, an unprecedented urban metropolis on the Las Vegas Strip scheduled to open in late 2009, (MGM Mirage n.d.)

§  Service Quality Assurance

§  Strict confidentiality of client profile. Convenience, – Instant bookings online 

Weaknesses

§  Lack of trust and brand name in Singapore

§  Potential problem in recruiting the right Employees

§  Possible high recruitment and training cost

§  Need to build clientele database from scratch

§  Need time to educate target market on the benefits of staying at MGM Mriage Hotel

§  Low UAI – Tendency for employees   to job-hop.

Opportunities

§  Singapore is voted World’s easiest place to start business (Economic Development Board of Singapore n.d.)

§  Singapore’s Masculinity is at 48, indicating that Singapore has a balanced gender roles in the society – therefore can target both sexes

§  Increasing number of dual-income families (Singapore Department of Statistics 2009)

§  High PDI, Collectivism – Opinion leaders can aid product diffusion rates

§  High PDI, Collectivism – Family is the core of Singapore’s society where family needs comes 

first therefore MGM Mirage would be a good option as it doesn't not only focus on the casino.

§  Low UAI – Consumers are willing to try out new products and services.

§  Low UAI – Important factor for gambling

§  Population is Internet savvy – Internet marketing aids speed of product diffusion.

Unemployment stabilizes – fewer redundancies and more job openings (Ministry of Manpower Singapore 2009)

Threats

§  Government regulations - The casino operator must ensure that it remains suitable to manage and operate a casino in accordance with Section 45 of the Casino Control Act. (Casino Regulaory Authority 2010)

§  Some individuals may engage in criminal activities to support their gambling habits – might create a bad impression in the eyes of general public

§  Bad services by new employees might affect reputation

§  Business concept might be replicate by competitors. Ease of competitor entry