Overview of casino and hospitality business association
The casino to be considered here is the sky entertainment group having branches in cities of Australia and Newzealand. The casino is listed on NewZealand and Australian National Stock Exchange so any development related to the casino has economic spillover effects over the stock market of particular 2 countries (Ketokivi, 2015). The casino attained the figure if $1billion recently. The casino is situated alongside the variety of restaurants, bars, 5-, and Auckland’s tower. One of these hotels, to be considered here, is the international Sky City Grand Hotel. The hotel has more than 200 rooms and deals in the hospitality industry. The hotel is one of few big names in the hotel industry. It was opened in 2005 by Prime Minister Helen Clark. Many celebrities have stayed in the rooms of the hotel like Justin Bieber, Justin, Timberlake and Christina Aguilera. The hotel is staying place for VIPs, businesspersons and high stake gamblers (Hitt, Xu, & Carnes, Resource based theory in operations management research, 2018).
Day to day operations
The casino has different games to play along with many restaurants and bars. The casino remains open 24/7 and food and drink are served throughout the day. So there are many persons associated with the casino-like waiters and waitresses, janitorial staff, chefs, clerk. Along with all these persons, heavy security is deployed in the casino as it involves transactions worth millions of rupees. The coin counting remains operational throughout the day as people gamble the whole day and night. They are given room facilities and drinks. The upper management authority or executives take decisions regarding day-to-day operations of the casino (Bromiley & Rau, 2018).
Linkages between casino and hospitality business
The casino and hospitality business are inter-linked. There are many casinos which have hotels and restaurants alongside many other facilities. The casinos, in order to fascinate the customers to visit again provide some incentives like free accommodation. The customers losses millions; but they get free rental services, thus feeling like they have gained some part of the lost money. This facilitates the customer to visit again and indulge in gambling. In some casinos, alcohol is served free to fascinate more customers (Kaufmann, Esslinger, & Carter, 2018). The persons who are provided staying facility in 5-star hotels are given facility in the casinos so as to lure them by providing the bait, The food preparation in a casino is done along with providing leisure activities. The entertainment industry is part of the casinos as well.
The casinos are famous for the waste of energy due to their policy to provide the timeless environment (Kumar & Paraskevas, 2018). In order to provide a timeless environment, the casinos do not have windows. So by working in natural light in daytime can reduce the carbon footprint of the casinos. If not natural light, there must be the use of less energy consuming LED lights. Along with this, the casinos can promote recycling by using recycled products. The latest buzz is around the online casinos which will reduce the transportation need leading to Smart casinos. The online casinos have been suggested by Mrs. Hillary Clinton during her presidential campaign which was widely acclaimed. (though now the USA has moved out of Paris climate agreement). Casinos can also contribute to water conservation leading to tangible benefits for it. The sustainable business is needed to protect the only planet we have to stay. Till now, the concept of the existence of life on Mars is not beyond doubt (Kim, Wagner, & Colicchia, 2018).
a) Tangible assets of the firm
The tangible assets of the firm include property, infrastructure, buildings, types of equipment and manufacturing facilities while the value chain is series of processes used to add value to raw material leading to a product of comparatively high value. The value chain can be harmonized to get strategic outcomes like the removal of unnecessary steps leading to reduced cost and gaining competitive advantage. There are 5 steps of Porter's value-added chain- inbound logistics, operation, outbound logistics, marketing and sales, and service. The short value chain reduces the manufacturing time as well as the cost; thus value chain must be harmonized with strategic outcomes (Saha & Chakrabarti, 2018).
b) Fundamentals of operation management
The operations management is a vital aspect of the business. It is the process of designing, production and monitoring the value added to the raw material. There are some fundamentals of operation management which are as follows:
- Operations management help achieve the strategic goals of the organization
- Operations management bring efficiency in the working of the organization from time and cost perspective
- Operations management leads to allotment of work according to the talent and skills of the employee
- Operations management is an important asset to gain a competitive edge in the world of globalization.
The most vital aspect of operations management is that it removes the unnecessary processes leading to adding value to raw materials to convert them into high-value products using the least number of resources. This reduces the overall operational cost, thus giving a competitive advantage to the company (DuHadway, Carnovale, & Kannan, 2018).
5 . The environment for diversity management
The persons of different ethical and family backgrounds work in an organization, be it a casino or hotel industry. So there is definitely a need to assimilate the persons of different backgrounds into the company’s culture (Bjørgum & Netland, 2018). Ether is need to manage diversity well like greeting the employee in the unique style related to his culture in the morning or evening; placing the diversity-related facts in fronts of employees by putting diversity management policy on notice board, addressing the grievances of the employees related to discrimination and hiring the persons on the basis of talent.
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