History Wynn Resorts‚ LTD was formed by former Mirage Resorts Chairman/CEO Steven Wynn on October 25‚ 2002‚ who currently serves as the Chairman of the Board and CEO of Wynn. His knowledge of the gambling and casino industry is indispensable to Wynn Resorts‚ as he is accredited to turning the luxury casino industry in Las Vegas into what it is today. Wynn’s mission is: “A commitment to providing an elegant environment‚ high quality amenities‚ a superior level of service and distinctive attractions
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CASE 1 : WYNN RESORTS Question 1 : What are Wynn Resorts’ distinctive resources and competencies ? Wynn Resorts Limited is a company which operates in casino and gambling industry in the US and Macau. It was created by Steven Wynn and made intitial public offering on NASDAQ on Octorber 25‚ 2002. The company own Wynn Las Vegas Resorts & Country Club‚ Encore at Wynn Las Vegas in the US and in Macau‚ the company have Wynn Macau Resorts and Encore at Wynn Macau. It is undeniable that one of
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Title: Wynn Resort 1.) Purpose To know if what is the overall strategy of Steve Wynn to make Wynn Resorts‚ Ltd. on the right track and quite a remarkable company. 2.) Statement of the Problem There are three problems which I found out in the case‚ and these are the three challenges that Wynn will have to face‚ and the future may throw some curveballs along the way. First is need to secure a way to maintain the competitive advantage as increased competition is introduce both domestically
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Case study: Wynn Resorts Q1: What are Wynn Resorts’ distinctive resources and competencies? As the founder of Wynn Resorts‚ Steve Wynn‚ the CEO could be regarded as the first significant resource for the company. He has 30 years experience and passion in operating and managing casinos‚ and has built up essential relationship‚ contacts and liaison with government‚ enterprises and upper-society‚ which could not be achieved by every company and hence became the distinctive resource helping to stabilize
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Case Study 1 Wynn Resorts LTD. Sean Brockert Palm Beach State College History 1967 complete renovation of Golden Nugget. 1989 complete renovation of Mirage. 1993 complete renovation of Treasure Island. 1998 complete renovation of Bellagio Mirage becomes part of MGM ($6.4 million) April 2005 Wynn Las Vegas resorts open. September 2006 doors open Wynn Macau. December 2007 2nd phase complete Wynn Macau. 2009 expected completion of encore Las Vegas. Internal Strengths and Weakness
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and many other aspects of daily life of a business. One interesting for corporate strategy planning approach has been proposed by Michael E. Porter who states that there are five forces that influence the long-term profitability of a market or some segment of it. Therefore‚ the corporation must assess their objectives and resources against these five forces driving industry competitions‚ which are described below: 1) Threat of entry of new competitors or the market segment is unattractive depending
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Porter’s 5 Forces Introduction The model of the Five Competitive Forces was developed by Michael E. Porter in his book „Competitive Strategy: Techniques for Analyzing Industries and Competitors“in 1980. Since that time it has become an important tool for analyzing an organizations industry structure in strategic processes. Porter’s model is based up on the insight that a corporate strategy should meet the opportunities and threats in the organizations external environment. Competitive
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PORTER’S FIVE FORCES 4 Power of Suppliers Criteria Level Effect on Power Effect on Profit Difference of Inputs High Increases Decreases Cost of Switching Suppliers High Increases Decreases Threat of Forward Integration High Increases Decreases Supplier Concentration High Increases Decreases Difference of Inputs Product differentiation within inputs in the tech industry is largely dependent on how recently the input has been developed (the extent of which it is considered
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Porter’s Five Forces Model Porter’s five forces use for; to develop a wide and detailed analysis of competitive position (especially on industry level)‚ while the determining and creating new strategies‚ planning‚ making investments or disinvestments for current or a brand new business or organization. (Businessballs‚ Michael Porter’s Five Forces Competition Theory Model‚ 2009). Porter’s five forces determined as; “Supplier Power; Differentiations of inputs‚ supplier concentration‚ importance
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Porter’s 5 Forces Analysis- Need to include one consistant example-The conclusions/improvements that can be drawn from Porter’s 5 Forces-Every force should have a fancy quote and reference Introduction Developed by Michael E. Porter‚ “Porters 5 Forces” have shaped a generation of academic research and business practice. Intense forces lead to less attractive returns on investment as can be seen in the airline textile and hotel industries. Benign forces exist in industries such as software‚ soft
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