You have completed your initial plan. Now, the leadership team would like some additional information. For this assignment, you will need to focus on three areas: added value, competitive advantage, and cost leadership.
For this assignment, you will need to specify what you will do with the AI or robotics that is unique to your property. The first section will ask you for specific changes to policies and procedures. Think about how these changes can create a competitive advantage. Also, think about how this change will create added value. Then, you are asked to determine how success will be measured. You will be asked which ratios will be measure your successful implementation. Think about using financial ratios that will measure your anticipated changes. For example, if you are using a new AI to take inventory in the 24-hour café, then you would want to include a ratio to measure inventory. If you are replacing employees with the AI or robotics, then you want to use a ratio that will measure if this effectively reduces expenses. Keep these kind of things in mind as you finish your assignment.
- Describe the changes you will make to comply with the change to your department using best practices from the industry. Explain how you can use this to achieve a competitive advantage. This section needs to include:
- What changes will you implement to help with the new policy?
- What policies will you put in place for your employees?
- How can this create a competitive advantage?
- This section is worth 5 points.
- Added Value: What will you do to create added value for your customers? Create a new type of service for your customers that will create added value for them. This section should include:
- What is your creative idea?
- How will this create added value?
- Will this be a temporary change or a permanent one? If temporary, when will this offer end?
- This section is worth 5 points.
- Cost leadership: During this time, hotel-casinos occupancy is restricted, therefore they will not be able to meet last year’s numbers. Therefore, your department will be making expense cuts during this time as well. Answer the following questions to help measure your department’s success with cutting expenses:
- With decreased cash flows, what would be 3 ways you could cut expenses?
- What are 3 ratios from page 120 in your textbook that would be appropriate? Why are these appropriate?
- This section is worth 10 points.
- Cost Leadership: Using the Nevada Casinos: Departmental Revenues make the following calculations:
- Create a line graph of the trajectory of your department’s revenue contribution from 1984 to 2019 using the Nevada Statewide information. If you choose Human Resources, use gaming revenue. Explain why you think this contribution has changed the way it has.
- Create a table showing the difference in your department’s revenue for the Strip, Downtown, and Boulder Highway between 2009 and 2019. Include both the total revenue and the contribution to total revenue Interpret the results. What are the differences between these parts of town? This should be based on the numbers you see, how you interpret them, and research to support your interpretation.
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