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MGM MIRAGE

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CASE ABSTRACT MGM Mirage (NYSE: MGM), one of the world's leading and most respected

companies with significant holdings in gaming, hospitality and entertainment, 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. City Center, an unprecedented urban metropolis on the Las Vegas Strip scheduled to open in late 2009, is a joint venture between MGM MIRAGE and Infinity World Development Corp, a subsidiary of Dubai World. MGM MIRAGE Hospitality has entered into management agreements for future casino and non-casino resorts in the People's Republic of China, Abu Dhabi, U.A.E. and Vietnam. MGM MIRAGE supports responsible gaming and has implemented the American Gaming Association's Code of Conduct for Responsible Gaming at its properties. MGM MIRAGE has received numerous awards and recognitions for its industry-leading Diversity Initiative and its community philanthropy programs.

MGM Mirage

Type Founded Headquarters Key people Industry Products Revenue Operating income Net income Total assets Total equity Employees

Publi (NYSE: M M 2000 Las Vegas, Nevada James Murren(C airman/CEO) Kirk Kerkorian (Member of t e Board of Directors) Casinos and hotels Hotels US$D7,691.64 million (2007) $2,863.93 million (2007) $1,584.42 million (2007) $22,727.69 million (2007) $6,060.70 million (2007) 54,700

The resorts and casinos of MGM MIRAGE are some of the most famous in the world. mission. luxurious facilities and exceptional customer service.Ste 1: Identify the firm¶s existing vision. . widely credited for establishing a new generation of excitement in Las Vegas! Our 24 destinations are renowned for their winning combination of quality entertainment. Our dedicated staffs of over 70.000 employees are committed to providing an unsurpassed experience for every one of our guests. At MGM MIRAGE. with potential developments in a number of domestic and international markets. objectives and strategies. we are all striving together to deliver our enticing blend of entertainment to every corner of the world. We are actively expanding our presence globally.

µWe are actively expanding our presence globally. luxurious facilities and exceptional customer service.Our 24 destinations are renowned for their winning combination of quality entertainment.¶ Public Image ± µThe resorts and casinos of MGM MIRAGE are some of the most famous in the world. Technology Markets Product Growth. .¶ Markets . Profits & Services images Concept MGM Yes No Yes No No No No Yes Yes Customers ± µCommitted to providing an unsurpassed experience for every one of our guests.MISSION STATEMENT Components Customers Employees Public of Mission / Company Self- Philosophy Survival. with potential developments in a number of domestic and international markets.¶ Product and Services .

but also through multi-dimensional efforts. The technology usage in the internet market segment is crucial as the company looking to tackle this market segment. not only through monetary support of worthy agencies in our communities.Ste 2: Develop a vision and mission statement for the organization. With the mass increase in internet usage globally the company. the company have to cope with the changing pattern in the market today by introducing their online casino¶s and the usage of the hi-tech technology in maintaining the operation in monitoring the cash flow in the cyber space. ³Delivering a promise of excitement´ is our philosophy. What to i lude to thei Mi ion Statement MGM MIRAGE seems already established ourselves as pioneer into entertainment segment in the market regarding their high capabilities in maintaining their brand. We also are gaining profits to maximize our shareholders position in our company. . With the first class hotel and casino¶s we can assure that our customers will have an unforgettable moment of their life. The competitive advantage over our rival as a leader in social responsibilities.

S casinos and gaming sectors¶ value will be approximately $109. y The global casino gaming market reached a value of $298. which include 19 ± land based casinos. an increase of almost 40% y y Twenty million U. y On an international basis. y Data monitor predicts that by 2010 the U.5 billion.S. is currently the largest U.S-based casino operation. O ortunities y The theme hotel/casino resort concept had become firmly entrenched in Las Vegas as well in much of the remaining gaming industry. Caesars. y There were approximately 300 public companies generating gaming revenues in 2005. can afford expensive vacations and. . y y Harrah¶s Entertainment Inc. citizens y 77 million American baby boomers are now at their highest earnings levels. with a smaller percentage coming from U. as retirees. and Horseshoe brand names.S citizens wagered some $4 billion by the end of 2005 By 2009. they can be expected to travel extensively and spend more during travel.Ste 3: Identify the organization¶s external opportunities and threats. each local government establishes regulations controlling gambling activities within its own borders. Threats y Recently efforts have been aimed at slowing the growth of internet gambling by restricting the free transfer of credit card monies to gambling sites around the world.7 billion in total revenues in 2005 and by 2010 revenues are expected to increase to $387.2 billion. projections are that online gambling revenues will exceed $20 billion worldwide. Harrah¶s now owns or manages 36 casinos under the Harrah¶s.

20 1 0.10 2.60 2 0.40 Product Qualit 0. Critical Success Factors Weight Rating Score Rating Score Rating Score Advertising 0.20 3 0.60 3 0.80 4 0.00 3.15 2 0.10 3 0.20 Total 1.10 2 0.60 Financial Position 0.00 3.30 2 0.40 3 0.20 2 0.20 4 0. Las Vegas Sands Cor .10 3 0.10 3 0.15 4 0.10 1 0.30 4 0.30 Customer lo alt 0.60 3 0.1 .10 Management 0.10 Global Ex ansion 0.45 2 0.20 2 0.30 Price Com etitiveness 0.05 2 0.Ste 4: Construct a Competitive Profile Matrix (CPM) MGM Mirage Harrah¶s Entertainment Inc.10 3 0.10 Market 0.30 1 0.80 3 0.

2) Data monitor redicts that b 2010 the U.06 2 0.30 growth of internet gambling b transfer of credit card monies to gambling sites around the world 2) On an international basis.09 2 0.36 2 0. 6) The global casino gaming market reached a value of $298.S. the can be ex ected to travel 4 0.10 3 0.12 3 0. can afford ex ensive vacations 0.12 . each local government establishes regulations controlling gambling activities within its own borders 0. with a 0.2 0. rojections are that online gambling 3 0. an increase of almost 40% 3) Twent million U. citizens.16 0.07 remaining gaming industr .08 2 0.Ste 5: Construct an External Factor Evaluation Matrix (EFE Matrix) External Factor Evaluation (EFE) Matrix Ke External Factors Weight Rating Weighted Score O ortunities 1) The theme hotel/casino resort conce t had become firml entrenched in Las Vegas as well in much of the 0.5 billion Threats 1) Recentl efforts have been aimed at slowing the restricting the free 0.7 billion in total revenues in 2005 and b 2010 revenues are ex ected to increase to $387. 5) 77 million American bab boomers are now at their highest earnings levels. as retirees.10 smaller ercentage coming from U.18 roximatel $109.S citizens wagered some $4 billion b the end of 2005 4) B 2009.S casinos and gaming sectors¶ value will be a billion.48 extensivel and s end more during travel.14 revenues will exceed $20 billion worldwide.30 0.12 and.

01 0. which include 19 ± land based casinos TOTAL 1. is currentl the largest 0.21 generating gaming revenues in 2005 4) Harrah¶s Entertainment Inc.10 4 0.00 3.40 4 0.09 U.S-based casino o eration.3)There were a roximatel 300 ublic com anies 0. and Horseshoe brand names. Caesars. 5) Harrah¶s now owns or manages 36 casinos under the Harrah¶s.07 3 0.36 .

In United States.99 billion. and then they generally set up some form of regulatory commissions to oversee gambling activities. Strength y MGM MIRAGE provides it all mega casinos. Weaknesses y The gaming industry is heavily regulated by states and by other governments. y A joint ownership with MGM Grand Paradise Limited is the MGM Grand Macau. y The other signatures resort. y MGM Mirage earned $635 million net on revenues of $7. other MGM Mirage properties follow the same general concept of themed entertainment gaming resorts covering a wide variety of locations and catering to many different types of customers. world class hotels and restaurants and some of biggest entertainment shows in the world.Ste 6: Identify the organization¶s internal strengths and weaknesses. individual states must first pass laws legalize gambling.1 billion with a market cap of $18. This hotel-casinos resort in Macau features at least 345 table games and 1035 slots with room for significant expansion. y From pirates to pyramids to castle. Inc y . featuring luxurious. MGM Mirage ranked 2nd in the casino operator behind Harrah¶s Entertainment. tropically oriented themes located on the site shared with Treasure Island at the center of the Las Vegas strip.

16 resort in Macau features at least 345 table games and 1035 slots with room for significant expansion.13 with Treasure Island at the center of the Las Vegas strip. 4 0.1 billion with a market cap of $18.20 individual states must first pass laws legalize .99 billion. In United States. 2) The other signatures resort.8 3 0. 4) MGM Mirage earned $635 million net on revenues of $7. This hotel-casinos 0.13 themed entertainment gaming resorts covering a wide variety of locations and catering to many different types of customers.20 4 0.10 2 0. featuring luxurious. 3) From pirates to pyramids to castle. 0. world class hotels and restaurants and some of biggest 0. other MGM Mirage properties follow the same general concept of 0.48 Weaknesses 1) The gaming industry is heavily regulated by states and by other governments.39 3 0. 5) A joint ownership with MGM Grand Paradise Limited is the MGM Grand Macau.64 0.16 entertainment shows in the world. tro icall oriented themes located on the site shared 0.Step 7: Construct an Internal Factor Evaluation Matrix (IFE Matrix) Internal Factor Evaluation (IFE) Matrix Ke Internal Factors Strength Weight Rating Weighted Score 1) MGM MIRAGE rovides it all mega casinos.39 3 0.

12 1 0. 2) MGM Mirage ranked 2 nd in the casino operator behind Harrah¶s Entertainment.14 .gambling.00 3. and then they generally set up some form of regulatory commissions to oversee gambling activities.24 Total 1. Inc 0.

Step 8: Prepare a Strengths-Weaknesses-Opportunities-Threat (SWOT).O2 Threats (T) ST Strategies WT Strategies 1)With the profit they gain on revenue.T3 1) As Harrah¶s Entertainment Inc. MGM Mirage should buy some of the public companies that is doing well in the market so that they can larger their market share. W2. MGM Mirage could once again bypass Harrah¶s by merging with one of the big company or buying a sum of small competitor that will increase their asset.O5 2)By looking for the opportunities arisen that US citizen will eventually spent to the total 4billion.T5 2)As new regulations of local government in gambling.S4.W2 1)MGM Mirage should do some promotion packages as they know all baby boomers has the most highest earnings and they are retiring soon. MGM Mirage could add more variety of new entertainment to their market S3.S1. MGM Mirage should . overcome MGM Mirage as leading company in casino industry. Strategic Position and Action Evaluation Matrix (SPACE) and Boston Consulting Group Matrix (BCG) Strengths-Weaknesses-Opportunities-Threat (SWOT Analysis) Opportunities (O) Strengths (S) SO Strategies Weaknesses (W) WO Strategies 1) MGM Mirage need to acquire domestic casino operators to capture customers of the casino and to lessen the competition S6.

S4.T2 .concentrate to enlarge their business by buying land in the United States to build more casino and hotels.

86) = 0. 2.Axis: -4 + 5 = 1 Y .33 Environmental sustainability (ES) Competitive Pressure Price Elasticity of Demand Barrier to entry new market Demand variability Changed in technology Risk involved in business Price range of competitive products ES Average -6 -5 -4 -4 -4 -6 -5 -4.6.2) Financial Strength (FS) Return on investment Inventory turnover Working capital Earnings per share Cash Flow Liquidity FS Average 6 5 5 5 6 5 5.86 Competitive Advantage (CA) Market Share Customer Loyalty Technological Know-how Product Quality Competition Capacity Utilization CA Average -4 -4 -3 -5 -4 Industry Strength (IS) Growth Potential Profit Potential Financial Stability Technological Know-how Resource Utilization Productivity.33 + (-4.Strategic Position and Action Evaluation Matrix (SPACE Matrix) X .47 Coordinate: (3. Capacity Utilization IS Average 3 6 6 4 5 6 5 -4 .Axis: 5.

. The 2nd and 3rd thing they should do is overcome internal weaknesses and avoid external threats. They now have to take their advantage to use their internal strengths to take advantage of external opportunities such as doing some promotional packages to attract all the baby boomers to spend their compensation money into a very relaxing vacation n entertaining themselves at MGM Mirage Hotels and casinos. they are located in the aggressive quadrant (Upper Right Quadrant).After Calculate the SPACE Matrix of MGM Mirage.MGM Mirage is now in an excellent position in the market because provides it all mega casinos. They can avoid their external threats by using market penetration and market development strategy. They should be more competitive in the market by acquiring existing company or cooperate together with other company that is rising in the market so that their customer will aware of MGM Mirage products. Their internal weaknesses cannot be overcome easily as it is considered law of a country. world class hotels and restaurants and some of biggest entertainment shows in the world.

Under the product development the MGM Mirage should always come out with different and new product to eliminate thereat from their competitor. it has been identified that The MGM Mirage belongs to the Quadrant 1 that needed either the forward. as the Grand Strategy Matrix is being constructed. Under the market development and market penetration shows that MGM Mirage should counter the market by buying others company to strengthen their position. or horizontal integrations if there is an excess in the resources.GRAND STRATEGY MATRIX Rapid Market Growth Quadrant II Quadrant I Weak Competitive Position Quadrant III Quadrant IV Strong Competitive Position Slow Market Growth From the Grand Strategy Matrix. This company falls under the excellent strategic position and therefore they are able to take risks aggressively when necessary or afford to take any advantages cause by any of the external opportunities. The integration and also diversification process should be implemented and MGM need to construct to keep the company competing in their market segment. . the company falls into the first quadrant of the graph for having a strong competitive position with a rapid market growth. or by just concentrating on the market positions or the market development in order to sustain. backward. Therefore.

horizontal integrations. By doing market development and also product development MGM Mirage have the opportunities to overcome their competitor in their market segment.BCG MATRIX FOR 3M From the image above. market positions or the market development. and also will counter possible threats that could affected their business. backward. which is more suitable to strengthen their position. At this stage. . The MGM Mirage needs is the consideration of the most appropriate strategies to be applied such as either through the forward. This company reflects a high position in relative market and also the industry sales growth that should be injected through an investment to maintain or strengthen their dominant positions and also to expand their market internationally as the market they enter have high possibility in terms of profits and opportunities. they also will manage to capture new batch of customer by offering product development as well as retain the old ones. it is clearly identified that The MGM Mirage falls under the second quadrant which is the Stars that represent the organization best long run opportunity for growth and profitability.

99 to I Average 2.0 to 2.99 Total Weighted Score to V VI Low 1.0 High 3.INTERNAL-EXTERNAL (IE) MATRIX The IFE Total Weighted Score Strong 3.99 III MGM Mirage Medium IV The EFE 2.0 2.0 to 4.0 to 1.99 II Weak 1.0 1.0 3.99 to VII VIII IX Grow and Build .

world class hotels and 0.48 1 0. . tropically oriented 0.39 featuring luxurious.16 restaurants and some of biggest 3 0.438 1.695 452.81 100 By using the Internal-External Matrix. 3 0.540 278.130.89 3.13 themes located on the site shared with Treasure Island at the center of the Las Vegas strip.16 Buy other small competitor company AS TAS Implement new promotional package AS TAS entertainment shows in the world.914 459.477 1.EFE Total Weighted Score IFE Total Weighted Score = 3.483.669 7. 2) The other signatures resort.57 5.991.14 Segment Casino Rooms Food & Beverages Entertainment Retail Others Total $ Revenue 2006 (in thousands) 3. QSPM Strategic Alternatives Key External Factors Weight Strength 1) MGM MIRAGE provides it all mega casinos.03 5.15 25.54 19.01 = 3.796. it is clearly identified that MGM Mirage falls under the first quadrant by relating the total weighted score from the IFE and EFE Matrix.733 % Revenue 2006 40.

other MGM Mirage properties follow 0.16 Grand Macau. 5) A joint ownership with MGM Grand Paradise Limited is the MGM 0.20 2 0. This hotel-casinos 4 0.40 1 0.20 market cap of $18.12 4 0.48 2 0. 3 0. and then they generally set up some form of regulatory commissions to oversee gambling activities. Inc Total 1.00 .24 Entertainment. 2) MGM Mirage ranked 2 nd in the casino operator behind Harrah¶s 0.13 the same general concept of themed entertainment gaming resorts covering a wide variety of locations and catering to many different types of customers.99 billion.39 resort in Macau features at least 345 table games and 1035 slots with room for significant expansion.3) From pirates to pyramids to castle.26 3 0.30 individual states must first pass laws legalize gambling. Weaknesses 1) The gaming industry is heavily regulated by states and by other 0. 4) MGM Mirage earned $635 million net on revenues of $7.1 billion with a 0.10 governments. In United States.64 2 0.

2) Data monitor predicts that by 2010 the U.10 total revenues in 2005 and by 2010 revenues are expected to increase to $387. can afford expensive vacations and.20 3 0.S.2 billion.12 value will be approximately $109.36 3 0.5 billion - - - - - - 2 0.S citizens 4 0. projections are that online gambling revenues will exceed $20 0. as retirees.09 2005 4) By 2009.S casinos and gaming sectors¶ 0.24 2 0. 6) The global casino gaming market reached a value of $298. an increase of almost 40% 3) Twenty million U.30 Threats 1) Recently efforts have been aimed at .28 Buy other small competitor company AS TAS Implement new promotional package AS TAS wagered some $4 billion by the end of 0. citizens. with a smaller percentage coming from U.10 billion worldwide.07 in Las Vegas as well in much of the remaining gaming industry.7 billion in 0.36 4 0. they can be expected to travel extensively and spend more during travel.Strategic Alternatives Key Internal Factors Weight Opportunities 1) The theme hotel/casino resort concept had become firmly entrenched 0. 5) 77 million American baby boomers are now at their highest earnings 0.12 levels.

S-based casino 0.slowing gambling the by growth of internet 0. each local government establishes regulations 0. 5) Harrah¶s now owns or manages 36 casinos under the Harrah¶s.28 - - public companies generating gaming revenues in 2005 4) Harrah¶s Entertainment Inc.07 4 0.08 the free - - 2 0.66 3.00 3.12 controlling gambling activities within its own borders 3)There were approximately 300 0. which include 19 ± land based casinos Total 1.10 and Horseshoe brand names.20 3 0.06 2 0.09 operation.27 . 0. Caesars.71 2 0.36 3 0.30 4 0.16 restricting transfer of credit card monies to gambling sites around the world 2) On an international basis. is currently the largest U.

In order to assure that the strategies will affected the company as a whole MGM Mirage could enlarge their promotional tools by using the internet access as their customer already being worldwide. to make MGM Mirage leading brand in this market segment. As MGM Mirage financial showing that the company doing very well in terms of profit gain. Implementation The MGM Mirage can implement these recommendations by focusing their objectives on creating new promotional packages. This can be done by advertising their new promotional packages via internet where they are placed on online gambling websites. The MGM Mirage could strengthen their branding by advertising and also sponsorship. so it is being encourages that MGM Mirage need to investing large sum of money in order to make the new promotional package will be great investment. The QSPM strategies will help to recommended to the MGM Mirage that the implement new promotional package as their main objective in order to improve their business in the entertainment industry. The main objective by implementing new promotional package is to overcome Harrah¶s Entertainment Inc. they need to focus to be leading company and set their branding worldwide to make the company overpass Harrah¶s Entertainment Inc.71 and from that analysis indicates that the MGM Mirage Company should implement new promotional package. The advantages for using this strategy is that sets of strategies can be examined sequentially or simultaneously and no limitation of the number of strategies that can be evaluated and examine. After the sum total attractiveness being done note that the scores of 3. This in turn will attract potential . the using of the technology is crucial to assures that the company use every resources that they can use to eliminate the possible threat by their competitor.Step 9: Recommend specific strategies After two alternative strategies being consider which is to buy other small competitor and the other one is to implemented new promotional package. It can also be implemented by fully utilizing the use of proper tools such as the internet as a way of promotion to their customers who are already worldwide. They also could introduce new attraction to their existing product as one way to attract new customer as well as retain the existing one. As a strong company in MGM Mirage.66 and 3.

2 billion. an increase of almost 40%. all eyes in the world will be upon it.customers who are already regular gamblers who frequently visit these web pages. Advertising through sponsorship is also expected to introduce MGM Mirage¶s name even wider around the world. citizens. International competitors¶ especially new and rising casinos in the asian region (ie. As a saying goes when a football match is being played. This is a result of the new promotional package including new attractions. Expected Result From the planned recommendation and implementation of the new promotional package. projections are that online gambling revenues will exceed $20 billion worldwide. This can be done by establishing sponsorship in several worldwide industries including entertainment and sports. The MGM Mirage should consider newer themes beside the already existing castles. By 2009. As we are aware. Data monitor predicts that by 2010 the U. Advertising through sponsorship should also be implemented as a way to attract customers.S. The MGM Mirage must find ways to attract customers from asia to come to the United States rather than visit the casinos in Asia. . The MGM Mirage should also consider the existence of other competitors besides the domestic competitors in the United States. football has become somewhat of a household sport around the world. with a smaller percentage coming from U. The implementation of worldwide advertising via the internet is also expected to attract international customers especially from asian countries. The MGM Mirage should take advantage of this factor by advertising their name by sponsoring top football teams in the world with a strong fan base worldwide.S casinos and gaming sectors¶ value will be approximately $109. pirates and pyramid themes. These advertisements may include new attractions which can help attract new customers as well as existing customers who long for something new from MGM Mirage. it can be expected that success can be achieved.Singapore) should be recognized and addressed. The expected rise of new customers could be estimated to be in the region of 15%.

438 1.035 .878 902.929 245.130. except per share amounts) Year Ended December 31 2010 REVENUES Casino Rooms Food and beverage Entertainment Retail Other $3.278 333.442 2.991.942 161.987.95 EXPENSES Casino Rooms Sponsorship Food and beverage Entertainment Retail Other General and administrative Corporate expense Pre opening and start-up expenses Restructuring costs (credit) 1.777.699 7.619 179.507 36.362 1.126 1.483.540 278.956 Less: Promotional allowances (620.914 459.477 1.175.070.Step 10: Projected Financial Ratios of MGM Mirage MGM Mirage and Subsidiaries Consolidated Statements of Income (in thousands.612.992 539.175.00) 7.695 452.

248 11. net Depreciation and amortization (40.671. net 254.205) 12.879 Income from unconsolidated affiliates Operating income Non-operating income (expense) Interest income Interest expense.063) (15.758.171 1.192 (703.090) (780.264 .361) (16.996 18.980) 629. net Non-operating items from unconsolidated affiliates Other.627 5.322) Income from continuing operations before income taxes Provisions for income taxes Income from continuing operations Discontinued operations Income from discontinued operations Provisions for income taxes 977.926 (341.473 (6.Property transactions.268 NET INCOME $648.930) 635.

It is not really a question of whether these factors will change but rather when they will change in what ways. The MGM Mirage should also make it an objective to take advantage of the rise of avenue in the gaming industry by 2010 which is expected to increase up to $387. The policy can include ways on how to understand and tackle worldwide customers. Step 12: Recommend procedures for strategy review and evaluation. The main criteria are to make sure that external opportunity and threats and internal strengths and weaknesses that represent the bases of current strategies should continually be monitored for change.Step 11: Recommend specific annual objectives and policies ANNUAL OBJECTIVE The MGM Mirage should introduce a new annual objective and policy which emphasizes the need to compete and overcome Harrah¶s Entertainment Inc. Improving the internet tool should also be an objective.S. The MGM Mirage should adopt the policy of catering to a now worldwide based customer both through their casinos and also online gaming facilities. By 2009. with a smaller percentage coming from U. as the leading gaming operator in the United States. This should be achieved by implementing the recommendations above in a proper and planned regime. so the strategies need to be review and evaluate . citizens. projections are that online gambling revenues will exceed $20 billion worldwide.5 billion. the crucial step is to evaluate the strategy to make sure that each of them is can reach the company long term and annual objective because of numerous internal and external factor can effected each of the plan. After the initial planning were suggested to MGM Mirage to strengthen the company in terms of financial as well as promotional to be leading company in the industry. Overcoming Harrah¶s as the largest gaming operator should be the highest priority for the MGM Mirage.

III. V. Through involvement in the process of evaluating strategies. Changes of strengths and weaknesses of Harrah¶s Entertainment Inc. Harrah¶s Entertainment Inc. managers and employees become committed to keeping the company moving steadily toward achieving the objective. VI. To determine MGM Mirage major competitors can be push before their start to retaliating VIII. VII. additional internal strength to support the strategies and to determine the company weaknesses. The managers and employees of MGM Mirage should be continually aware of progress being made toward achieving the company objectives.to provide the information to the company about its strengths. strategies is it changes due to the changes made by MGM Mirage. Under the strategies evaluation process such steps need to be addresses: I. The main competitor which is Harrah¶s Entertainment Inc. II. As critical success factors change. due to the implementation of new strategies by MGM Mirage. reacted to the strategies implemented by MGM Mirage. The strategies will take times to implement. IV. The implementation of the strategies also crucial in terms of keep the evaluation process continuous rather than on a periodic basis to allow benchmarks progress to be established and more effective monitored. MGM Mirage need to research what Harrah¶s Entertainment Inc. organizational members should be involved in determining appropriate corrective action. satisfactory towards their company present market positions and in terms of profitability. The reason of Harrah¶s Entertainment Inc. The alternative way to effectively cooperate with the competitors. MGM Mirage need to monitor Harrah¶s Entertainment Inc. . made changes in their strategic. strategies is successful in becoming leading company in the industry.

Have Major Changes Occurred in the Firm Internal Strategic Position Have Major Changes Occurred in the Firm External Strategic Position Has the Firm progressed satisfactorily Toward Achieving Its Stated Objective Result No Yes Yes Continue present strategic course Yes Yes Yes Take corrective action Yes Yes No Take corrective action Yes No Yes Take corrective action Yes No No Take corrective action No Yes Yes Continue present strategic course No Yes No Take corrective action No No Yes Continue present strategic course .