Wynn Las Vegas Environmental Analysis Assignment

Wynn Las Vegas Environmental Analysis - Assignment Example Growing number of visitors provides an opportunity to Wynn Las Vegas. For example, they can offer more creative, luxurious, economical and mesmerizing hospitality services to the potential clients for Wynn Resorts. For example, they can offer additional concession or attached offer if a new client first time avails and enjoys the hospitality services in the Resort. Switch, Las Vegas-based technology firm, plans to create more jobs in Las Vegas by bringing more technological investment to Las Vegas (Komenda, 2015). This increase would directly benefit to hospitality firms, such as Wynn Resorts, as the availability of the latest technology will enable them to access more customer data and that data can be further processed for churning out the customer trends which can be used to increase the frequency of customers by looking into their tastes, choices and expectations from the firms operating in the hospitality industry. Technology offers faster and greater access to information. For example, faster and greater access to information will enable the potential customers to choose the most economical offer and rate. And this could lead to decrease in occupancy ratio. Nightlife has become a modern trend in Las Vegas. It has become a common habit of residents and visitors to enjoy nightlife in Las Vegas as many entertainment places are open throughout night. And this trend has become a cultural part of Las Vegas. Wynn Resorts should avail this new trend of nightlife structure by providing attractive entertainment services and offers to the current and potential customers. For example, double offer can be provided in which availing and paying for one service would bring access to the attached service with that purchase. Through this double offer, Wynn can increase its occupancy ratio and can attract more clients. Porter’s five forces model is consisted of threat of substitutes, bargaining power of buyers, suppliers,

Financial management Essay Example | Topics and Well Written Essays - 500 words - 2

Financial management - Essay Example This is due to the credit extended in the first month of the operations. Moreover, the credit should equal to CBM has performed extremely well during the course of 9-months. Their cash collecting policy has worked well in generating enough cash for the following months. The cash collected has been incremental due to rising revenues. The company has low uncertainty in its revenue stream which locates them in a good position to finance their fixed assets requirement at appropriate time of the year. (Gitman, 2007) The minimum cash policy at the end of the month has served them well in making payments on time. On average they have surpassed their minimum cash requirement by a substantial margin which is a positive sign for any credit lending firm. The only month which has brought up concerns due to operational activities is April where the company had a cash deficit of $7,500. (Horngren, 2008) Other than April, the company has been in a cash deficit in June which was primarily because of investment in plant and income tax payment which totaled to $150,000. These expenses occur once or twice a year therefore; it is understandable to have a cash deficit for that month. Other than these abnormal payments, the company has fixed payments totaling to $60,000 which encompasses salaries, lease and miscellaneous costs (Brigham & Houston, 2009). Over the 9 months, they have been successful in making the fixed payments as well as the variable payments effectively. As a bank manager, I would like CBM to be my client for three reasons. Firstly, keeping in view their cash budget, the company has been experiencing growth in their revenues during the entire course. This creates positive sentiments about the company and one can project its prospective future. Moreover, growth in revenue could also indicate growing market share and increase in power over price. (Proctor, 2009) Secondly, their cash collection policy has been stringent. They have collected