Essays, Term Papers & Research Papers
SWOT analysis is a vital strategic planning tool that can be used by Casino managers to do a situational analysis of the firm . It is a useful technique to understand the present Strengths (S), Weakness (W), Opportunities (O) & Threats (T) Casino is facing in its current business environment.
A SWOT analysis does not have to be a singular event. Rather, since you, your life and your career are organic and developing over time, the results will likely never be the same twice. Archiving your results for comparison over the years can offer valuable insight into your career trajectory and the ways in which your goals and aspirations. The purpose of a SWOT analysis (strengths, weaknesses, opportunities, and threats) is to help produce a good fit between your company’s resources and capabilities and your external environment. Your SWOT analysis is a balance sheet of your strategic position right now. In the analysis, you bring together all your internal factors, strengths, and weaknesses, as.
The Casino is one of the leading firms in its industry. Casino maintains its dominant position in market by carefully analyzing and reviewing the SWOT analysis. SWOT analysis an immensenly interactive process and requires effective coordination among various departments within the company such as – marketing, finance, operations, management information systems and strategic planning.
The SWOT Analysis framework helps an organization to identify the internal strategic factors such as -strengths and weaknesses, & external strategic factors such as - opportunities and threats. It leads to a 2X2 matrix – also called SWOT Matrix.
The Strengths-Weaknesses-Opportunities-Threats (SWOT) Analysis / Matrix enables the managers of the Casino to develop four types of strategies:
The SWOT Analysis framework helps an organization to identify the internal strategic factors such as -strengths and weaknesses, & external strategic factors such as - opportunities and threats. It leads to a 2X2 matrix – also called SWOT Matrix.
The Strengths-Weaknesses-Opportunities-Threats (SWOT) Analysis / Matrix enables the managers of the Casino to develop four types of strategies:
- SO (strengths-opportunities) Strategies
- WO (weaknesses-opportunities) Strategies
- ST (strengths-threats) Strategies
- WT (weaknesses-threats) Strategies
SWOT Matrix Strategies Objective
The main purpose of SWOT matrix is to identify the strategies that an organization can use to exploit external opportunities, counter threats, and build on & protect Casino strengths, and eradicate its weaknesses.
Step by Step Guide to Casino SWOT Analysis
Strengths of Casino – Internal Strategic Factors
As one of the leading organizations in its industry, Casino has numerous strengths that help it to thrive in the market place. These strengths not only help it to protect the market share in existing markets but also help in penetrating new markets. Based on Fern Fort University extensive research – some of the strengths of Casino are –
- Strong distribution network – Over the years Casino has built a reliable distribution network that can reach majority of its potential market.
- Good Returns on Capital Expenditure – Casino is relatively successful at execution of new projects and generated good returns on capital expenditure by building new revenue streams.
- Automation of activities brought consistency of quality to Casino products and has enabled the company to scale up and scale down based on the demand conditions in the market.
- Strong Free Cash Flow – Casino has strong free cash flows that provide resources in the hand of the company to expand into new projects.
- Successful track record of developing new products – product innovation.
- Highly skilled workforce through successful training and learning programs. Casino is investing huge resources in training and development of its employees resulting in a workforce that is not only highly skilled but also motivated to achieve more.
- Strong dealer community – It has built a culture among distributor & dealers where the dealers not only promote company’s products but also invest in training the sales team to explain to the customer how he/she can extract the maximum benefits out of the products.
- Strong Brand Portfolio – Over the years Casino has invested in building a strong brand portfolio. The SWOT analysis of Casino just underlines this fact. This brand portfolio can be extremely useful if the organization wants to expand into new product categories.
Weakness of Casino – Internal Strategic Factors
Weakness are the areas where Casino can improve upon. Strategy is about making choices and weakness are the areas where an organization can improve using SWOT analysis and build on its competitive advantage and strategic positioning.
- High attrition rate in work force – compare to other organizations in the industry Casino has a higher attrition rate and have to spend a lot more compare to its competitors on training and development of its employees.
- The company has not being able to tackle the challenges present by the new entrants in the segment and has lost small market share in the niche categories. Casino has to build internal feedback mechanism directly from sales team on ground to counter these challenges.
- Financial planning is not done properly and efficiently. The current asset ratio and liquid asset ratios suggest that the company can use the cash more efficiently than what it is doing at present.
- Investment in Research and Development is below the fastest growing players in the industry. Even though Casino is spending above the industry average on Research and Development, it has not been able to compete with the leading players in the industry in terms of innovation. It has come across as a mature firm looking forward to bring out products based on tested features in the market.
- Not very good at product demand forecasting leading to higher rate of missed opportunities compare to its competitors. One of the reason why the days inventory is high compare to its competitors is that Casino is not very good at demand forecasting thus end up keeping higher inventory both in-house and in channel.
- Limited success outside core business – Even though Casino is one of the leading organizations in its industry it has faced challenges in moving to other product segments with its present culture.
- Need more investment in new technologies. Given the scale of expansion and different geographies the company is planning to expand into, Casino needs to put more money in technology to integrate the processes across the board. Right now the investment in technologies is not at par with the vision of the company.
Opportunities for Casino – External Strategic Factors
- New customers from online channel – Over the past few years the company has invested vast sum of money into the online platform. This investment has opened new sales channel for Casino. In the next few years the company can leverage this opportunity by knowing its customer better and serving their needs using big data analytics.
- The market development will lead to dilution of competitor’s advantage and enable Casino to increase its competitiveness compare to the other competitors.
- Economic uptick and increase in customer spending, after years of recession and slow growth rate in the industry, is an opportunity for Casino to capture new customers and increase its market share.
- The new taxation policy can significantly impact the way of doing business and can open new opportunity for established players such as Casino to increase its profitability.
- Lower inflation rate – The low inflation rate bring more stability in the market, enable credit at lower interest rate to the customers of Casino.
- The new technology provides an opportunity to Casino to practices differentiated pricing strategy in the new market. It will enable the firm to maintain its loyal customers with great service and lure new customers through other value oriented propositions.
- Decreasing cost of transportation because of lower shipping prices can also bring down the cost of Casino’s products thus providing an opportunity to the company - either to boost its profitability or pass on the benefits to the customers to gain market share.
- Stable free cash flow provides opportunities to invest in adjacent product segments. With more cash in bank the company can invest in new technologies as well as in new products segments. This should open a window of opportunity for Casino in other product categories.
Threats Casino Facing - External Strategic Factors
- Liability laws in different countries are different and Casino may be exposed to various liability claims given change in policies in those markets.
- Rising pay level especially movements such as $15 an hour and increasing prices in the China can lead to serious pressure on profitability of Casino
- Intense competition – Stable profitability has increased the number of players in the industry over last two years which has put downward pressure on not only profitability but also on overall sales.
- Growing strengths of local distributors also presents a threat in some markets as the competition is paying higher margins to the local distributors.
- No regular supply of innovative products – Over the years the company has developed numerous products but those are often response to the development by other players. Secondly the supply of new products is not regular thus leading to high and low swings in the sales number over period of time.
- Rising raw material can pose a threat to the Casino profitability.
- The demand of the highly profitable products is seasonal in nature and any unlikely event during the peak season may impact the profitability of the company in short to medium term.
- Increasing trend toward isolationism in the American economy can lead to similar reaction from other government thus negatively impacting the international sales.
Limitations of SWOT Analysis for Casino
Although the SWOT analysis is widely used as a strategic planning tool, the analysis does have its share of limitations.
- Certain capabilities or factors of an organization can be both a strength and weakness at the same time. This is one of the major limitations of SWOT analysis . For example changing environmental regulations can be both a threat to company it can also be an opportunity in a sense that it will enable the company to be on a level playing field or at advantage to competitors if it able to develop the products faster than the competitors.
- SWOT does not show how to achieve a competitive advantage, so it must not be an end in itself.
- The matrix is only a starting point for a discussion on how proposed strategies could be implemented. It provided an evaluation window but not an implementation plan based on strategic competitiveness of Casino
- SWOT is a static assessment - analysis of status quo with few prospective changes. As circumstances, capabilities, threats, and strategies change, the dynamics of a competitive environment may not be revealed in a single matrix.
- SWOT analysis may lead the firm to overemphasize a single internal or external factor in formulating strategies. There are interrelationships among the key internal and external factors that SWOT does not reveal that may be important in devising strategies.
Weighted SWOT Analysis of Casino
In light of the above mentioned limitations of the SWOT analysis / matrix, corporate managers decided to provide weightage to each internal strength and weakness of the firm. Organizations also assess the likelihood of events taking place in the coming future and how strong their impact could be on company's performance.
This method is called Weighted SWOT analysis. It is better than doing simplistic SWOT analysis because with Weighted SWOT Analysis Casino managers can focus on the most critical factors and discount the non-important one. It also solves the long list problem where organizations ends up making a long list but none of the factors deemed too critical.
This method is called Weighted SWOT analysis. It is better than doing simplistic SWOT analysis because with Weighted SWOT Analysis Casino managers can focus on the most critical factors and discount the non-important one. It also solves the long list problem where organizations ends up making a long list but none of the factors deemed too critical.
Limitation of Weighted SWOT analysis of Casino
This approach also suffers from one major drawback - it focus on individual importance of factor rather than how they are collectively important and impact the business holistically.
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Slot Analysis Terms
Example of Weighted SWOT Analysis
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SWOT Worksheet & Template
If you like to do your own SWOT analysis or want to make your own Weighted SWOT SWOT matrix then feel free to download Fern Fort University SWOT Analysis Template.
References / Citations & Bibliography
- M. E. Porter, Competitive Strategy(New York: Free Press, 1980)
- A. D. Chandler, Strategy and Structure (Cambridge, Mass.: MIT Press, 1962)
- O. E. Williamson, Markets and Hierarchies(New York: Free Press, 1975);
- L. Wrigley, Divisional Autonomy and Diversification (PhD, Harvard Business School, 1970)
- R. E. White, Generic Business Strategies, Organizational Context and Performance: An Empirical Investigation, Strategic Management Journal7 (1986)
Slot Machine Glossary – Slot Terms and Definitions
Slots are one of the easiest things to play in the casino but you need to understand all the terms and options before playing. Slots of vegas free chip.
The goal for the slot machine glossary was to put together one of the most extensive slots terms documents online. I feel the goal has been accomplished. See if you agree when you finish reading.
Take a look and see if you can learn any new slot machine terms.
Action or Play – Action or play is the total amount of money wagered on a slot machine in a session or over a different time frame. Player’s club benefits are usually based on total action. When you put your club card in the slot machine it tracks your total play or action.
Bank of Slot Machines – A bank of slot machines is a group or row of machines sitting beside each other. Some of them may be physically connected, but they don’t have to be. The machines may share a common name or theme or they may be entirely different.
Basic Slots or One Line Slots – The simplest slot machines are one line or basic slots. Usually using only three reels, these slot machines are what dominated casino floors before all of the video slots became popular. Most of these machines have a simple pay out structure and only use a few symbols. Rarely will a basic slot machine have any type of jackpot because of the limited number of possible combinations.
Bet Max or Bet Max Button – Pay out charts are almost always based on a maximum wager. The bet max button automatically places a wager of the maximum amount based on your coin size. If the maximum bet is 10 coins per line and you set your coin size to 10 cents, the bet max button will bet $1 per line.
Bet One or Bet One Button – This button places a bet of a single coin when pushed. I don’t recommend using the bet one button because most of the top pay outs give a bonus based on a max bet. If you can’t afford to place a max bet find a slot machine that offers a smaller coin size.
Betting Units or Credits – A betting unit or credit is based on the size of coin you’re using and how much money you have in the machine. If you have $100 in the machine and are using a quarter coin size you have 400 betting units or credits.
Big Bertha Slot Machine – A Big Bertha slot machine is a marketing gimmick in the form of a huge slots game. Usually placed near a main entrance to the casino floor, these machines can have multiple reels (even more than normal slots) and take up as much space as a regular bank of machines.
Big Hit or Big Win – A big hit is simply a big win. One slots player may tell another they had a big hit after hitting a top pay out or jackpot.
Bonus Feature – A bonus feature is one of the new things that became available after the introduction of video slot machines. A common bonus feature is unlocked by hitting a certain combination of symbols and opens in a new screen. A bonus feature can be a different game entirely or include a mini movie or just be a different area with reels like the main game. Usually players have the chance at larger wins during a bonus feature than during normal game play.
Bonus Multiplier or Bonus Modifier – A bonus modifier or multiplier is a symbol or series of symbols that multiply a win by a certain amount. Common multipliers are two times (2X) and three times (3X) but they can be any amount the game is programmed for.
Branded Slots – Branded slot machines are themed after popular television shows or movie franchises. Examples include Wheel of Fortune Slots and Lord of the Rings slots.
Cashback or Cash Back – Cash back is exactly what it sounds like. Some player’s clubs offer cash back on slot machine play. Others only offer non cash comps, but if you look around you can find cashback slots offers both online and in land based casinos.
Certified Slots – Some casinos run promotions featuring certified slots. A certified slot machine has a payback percentage that’s been certified and is then advertised by the casino. Most certified promotions feature slots or groups of slot machines that pay out 97% or higher. Occasionally you may even be able to participate in a promotion that offers certified slots that have a 100% pay back percentage.
Coin In and Coin Out – Coin in is the total amount of coins or credits played in a machine and the coin out is the total amount of coins paid out of the machine.
Coins – Coins are the size of the base wager on a slot machine. In the past you could play with actual coins or tokens, but most slot machines today are played with cash or slots vouchers or tickets.
Coin Size – The coin size is the amount each coin is worth. Some machines only have one coin size but some allow you to adjust the coin size. Coin sizes include penny, nickel, dime, quarter, fifty cents, dollar, and five dollar.
Cold Slots – A cold slot machine is one that hasn’t paid out in a long time. Many players believe machines run hot or cold, but mathematically machines simply pay out the percentage that they’re programmed to pay out over time.
Comps – Comps are earned through a player’s club for playing slot machines and other casino games. Comps can include free hotel stay, free meals, free flights, cash back, coupons, special deals, and just about anything else of value the casino may give you in exchange for your play.
Credits – When you put money into a slot machine it’s divided by the coin size to get the total number of credits you have to play with. If the machine has a coin size of 50 cents and you put in $60 you have 120 credits.
Denomination – The denomination is the size of the coin for the slot machines. Some machines let you change the denomination but some have a set coin size.
Fixed Value Slots – A fixed value slot machines has only one size bet available. You can’t pick how many lines, coins per line, or the coin value. These machines aren’t as rare as many think. Some players prefer a simple playing decision and these machines fit the bill. All you do is put money in and hit the spin button.
Five Line Slot or Five Liner – A five line slot machine simply has five possible pay lines. This isn’t a term used often now because of the explosion of availability of 25 line and higher machines
Free Spins – Free spins are exactly what they say. Most free spins are part of a bonus situation or game or a multiplier or other special feature.
Hammer A Machine – Hammering a slot machine is a slang term used to describe playing a single machine for hours on end. The most common reason for hammering a machine is when a progressive jackpot is high and the player is hoping to hit it.
Hit and Run – Hit and run describes a slots player who plays a few spins on a machine and then moves on to the next machine. These players usually are looking for a hot machine so if a slot doesn’t hit in a few spins the player moves on until she finds a machine that hits a win in the first few spins.
Hit Frequency – Hit frequency is how often a slot machine pays out a winning hand. Some machines pay out less on a greater number of hands while others pay out fewer times but larger amounts when they do pay. You’ll find players who like both types of machines, but generally they like to win more often, even if the wins are smaller than on tighter machines.
Hold Percentage – The hold percentage is how much the slot machine keeps as a percentage of total play or action for the casino. If a slot machine pays back 96%, the hold percentage is 4%. This means that in the long run the machine earns $4 for every $100 that’s wagered.
Hot Slots or Hot Slot Machine – A hot slot machine is the opposite of a cold one. A hot machine seems to be paying out at a higher than average rate. Many players jump from machine to machine in hopes of finding a hot machine.
Jackpot – The jackpot is the top pay out amount on a slot machine. Sometimes the jackpot is a progressive top prize that climbs with each spin until a player wins it.
Line or Pay Line Slot discord bot. – A line is usually from left to right and is the plane or area where you need to line up matching symbols to win a pay out. You activate one or more lines on most slot machines and if a line isn’t activated you can’t win for combinations on that line.
Linked Progressive Jackpot – Some progressive slot machines are linked to other machines. Most of the time the machines are all the same brand, but they don’t have to be. This helps progressive jackpots climb faster because more machines are feeding the top prize. The machines don’t have to be in the same casino to be linked. Online casinos often offer progressive games shared by hundreds of different casinos.
Loose Slots –A loose slot machine is one that is paying out more often than normal, or one that appears to be doing so. Loose slots is another name for hot slots.
Multiplier – A multiplier is an amount a winning spin is multiplied by. Multipliers usually are associated with free spins, scatter symbols, or another special feature or symbol.
Near Miss – A near miss is when a symbol lands just above or below a line that would have made a nice pay out.
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Nickel Slots – Nickel slot machines are ones using a 5 cent coin size. While you can generally play for only a nickel a spin, most of these machines require a larger bet size per spin to have a chance to win the top amount. The coin size is still five cents but you have to bet more than one coin per line and / or more than one line.
Ruth bader ginsburg feminist quotes. Nudge Slot – A nudge slot machine moves a symbol that’s close to making a winning combination the little extra it needs to line up for a win. This is just a gimmick on how a winning spin is displayed, but some players enjoy the thought of nudging the machine to make a losing spin a win.
One Armed Bandit – A one armed bandit is a term for a slot machine with a lever on the side. Many slot machines don’t have levers now, but in the old days they all had arms on the side you had to pull down to activate the reels.
One Liner or One Line Machine – A one line slot machine only has a single pay line. Fewer and fewer one line slots are available as multi line video slots games have become more popular.
Payback Percentage – Payback percentage is the amount of money the slot machine pays back as a percentage of the amount wagered trough a machine. A slot machine that has a 93% payback percentage pays back $93 out of every $100 on average to the player. In the short run the percentage will vary a great deal, but in the long run it’ll average out correctly.
Pay Line or Payline – A pay line is a line where matching symbols must line up to match winning combinations listed on the pay table. Most machines have multiple pay lines that must be activated to be eligible to win.
Payout or Pay Out – A pay out is how much you get for a specific winning combination of symbols. For example, you might get a payout of 25 coins for lining up four matching symbols from left to right on any pay line.
Pay Table – The pay table is the screen or card that explains which matching symbols pay and how much they pay.
Penny Slots – Penny slots are set for a coin size of one cent. Rarely can you actually play for a penny a spin because you have to activate multiple lines and play more than one coin per line.
Primary Jackpot – A primary jackpot is the top paying jackpot on a machine that has more than one jackpot. Some machines have a secondary or group of secondary jackpot amounts.
Progressive Slot Machines – A progressive slot machine has a top payout that grows with each spin. Most progressive jackpots are tied to multiple machines so the jackpot grows quickly. A percentage of each spin is added to the progressive amount.
Slot Analysis Terms Examples
Quarter Slots – A slot machine with a set coin amount of 25 cents.
Slot Analysis Terms Definition
Reels – Reels are the wheels that spin inside the machine or appear to spin on the screen of a video slot machine. The most common machines have three or five reels, but other sizes are sometimes available. I’ve seen seven and ten reel machines, but they aren’t common.
Random Number Generator or RNG – The computer program that controls the outcome of the slot machine is called a random number generator. Each possible outcome has a number or numbers assigned to it and the RNG picks a number at random for every spin. A particular losing combination may have hundreds of numbers attached to it and the top pay out may only have one number assigned to it.
Scatter Symbol – A special symbol that can land anywhere on the reels and still pay out or unlocks a bonus of some sort without landing on particular lines. The symbol is scattered all over the screen instead of lining up.
Second Screen Bonus – Video slot machines sometimes have a bonus round that launches after certain combinations are hit. A second screen bonus is one that opens on a second or different screen from the regular game play screen.
Secondary Jackpot – Some slot machines have more than one jackpot. The highest jackpot is called a primary and all of the others are called secondary jackpots.
Select Lines – Used to select the pay lines you want to activate for the next spin. Most players either play the maximum number of lines or a single line.
Slots Club or Player’s Club – The slots club or player’s club offers rewards or comps for your slots play. The more you play the higher the possible rewards.
Slots Host – The casino employee who takes care of slot machine questions or issues is called a slots host.
Slots Schedule – A slots schedule is another name for a pay chart or pay out chart. Most players don’t use this terminology now.
Slot Machine Tournament – A slot machine tournament is when you pay a set entry fee and play for a set period of time for the chance to win cash and prizes. The players with the highest amount at the end of play win the listed prizes.
Sound of Rain – The sound of rain is an old saying that slots players used when actual coins were used in the slot machines. The sound of rain was the sound of coins hitting the metal tray at the bottom of the machine after a big win.
Spin or Spin Button – The spin button is used to start spinning the reels. The spin button replaced the lever on the side of the slot machine.
Streaky Slots – A streaky slot machine is one that players believe runs hot or cold in streaks. A machine is usually believed to run both hot and cold at different times if it’s streaky.
Symbols – The symbols are the pictures of different items on the reels of the slot machine. You need to line matching symbols up on an activated pay line to win. Symbols can be anything from a bar to an elaborate portrait. Popular symbols include cherries and pictures that match the theme of the slot machine.
TITO Ticket In / Ticket Out – Slot machines have mostly stopped accepting coins and use cash and tickets to accept money and pay out money. You may put cash or a ticket in the machine but when you cash out the machine prints a ticket. You take the ticket to the cage when you’re ready to cash out.
Tight Slots – A tight slot machine is one that seems to be paying out at a lower than expected rate. It may be paying out fewer times than expected or fewer coins than expected.
Total Bet – The total bet is the total amount of coins or money wagered on a slot machine for the current spin.
243 Pay Lines Machine – Some new slot machines have 243 pay lines, claiming to cover every possible pay line. They simplify things in one way, but if you try to figure out all the possible pay lines you’ll probably end up with a headache.
Video Slots – A video slot machine has a picture of reels on the screen, like a video game. You won’t find any actual reels inside the cabinet of a video slots game.
Voucher or Ticket – A voucher or ticket is the same thing I described in the ticket in ticket out section above. A ticket is printed when you take money out of the slot machine and you can exchange the ticket for cash in the cage or use it at a different slot machine.
Wide Area Progressive or WAP – A wide area progressive is one with slot machines from different areas connected for a single progressive jackpot. Any player on one of these machines can win the jackpot and all the players are making the progressive amount go up as they play.
Wild Symbols – Wild symbols, usually found on video slot machines, are used in place of other symbols to help you form winning pay line combinations. Some wild symbols offer a multiplier bonus when used in a winning pay line. See the pay chart on your machine for more details.