A PESTEL & 5 Forces Analysis of Genting Singapore
Introduction (200-300words)
The purpose of Genting Group are :
1. Always care in changing demands of their customers and excel in providing quality products and services to satisfy customers wants.
2. Promise to innovation and the utilization of new technology to achieve competitive advantage.
3. Be responsible in generate a rational return to their shareholders.
4. Emphasize in personnel policies which recognize and reward performance to make them better. Encourage contributions of employees and provide proper training, development and opportunities for career advancement.
5. Be a responsible corporate citizen, always increasing corporate governance and transparency.
Find out more from …show more content…
Economics
Given the company’s high dependency on consumer spending, the revenue earned integrated casino resort and Universal Studios theme park are highly susceptible to economic fluctuations.
A recent article by the Straits Times stated that Genting Singapore's net profit slumped 50 per cent from a year ago to $97.4 million for the third quarter, while revenues plunged 17 per cent to $644.8 million, as its premium player business underperformed due to a low win percentage. (Leong, 2014)
Social
The admission charges for both integrated resorts are relatively high and will be a major setback to visitors. Its success and popularity are also highly susceptible to changes in consumer tastes and social trends.
Universal Studios depends excessively on the popularity of the characters it features for marketing purposes, and therefore has the need to continuously upgrade, update and create new attractions, rides and performances in order to sustain their visitorship …show more content…
Within Sentosa island, there are also other hotels not run by Genting Singapore.
Intensity of rivalry
Genting Group’s biggest competitor in Singapore’s casinos is Marina Bay Sands, whom although also experienced a decrease in revenue for their casinos, have it at a much smaller margin.
Escape theme park is an outdoor park located at Downtown East, Pasir Ris. It is not a theme park where fairy tales came alive like universal studio. But a normal park consisting of families and thrills rides catering for all ages. But the park is only available on Saturday, Sunday, primary and secondary and public holidays unlike Universal Studio which opens daily.
It is catered more for locals as the going to the place is a bit troublesome due to have to change bus going down there. Many tourists might not know how to get there. But Universal Studio is much simpler due to the monorail services. Also, the operation days falls on weekends and public holidays which make lesser tourist visiting it as they are not able to go in the theme park during weekdays as weekends might be packed and there might be a lot of queues for the rides.
Power of
Introduction (200-300words)
The purpose of Genting Group are :
1. Always care in changing demands of their customers and excel in providing quality products and services to satisfy customers wants.
2. Promise to innovation and the utilization of new technology to achieve competitive advantage.
3. Be responsible in generate a rational return to their shareholders.
4. Emphasize in personnel policies which recognize and reward performance to make them better. Encourage contributions of employees and provide proper training, development and opportunities for career advancement.
5. Be a responsible corporate citizen, always increasing corporate governance and transparency.
Find out more from …show more content…
Economics
Given the company’s high dependency on consumer spending, the revenue earned integrated casino resort and Universal Studios theme park are highly susceptible to economic fluctuations.
A recent article by the Straits Times stated that Genting Singapore's net profit slumped 50 per cent from a year ago to $97.4 million for the third quarter, while revenues plunged 17 per cent to $644.8 million, as its premium player business underperformed due to a low win percentage. (Leong, 2014)
Social
The admission charges for both integrated resorts are relatively high and will be a major setback to visitors. Its success and popularity are also highly susceptible to changes in consumer tastes and social trends.
Universal Studios depends excessively on the popularity of the characters it features for marketing purposes, and therefore has the need to continuously upgrade, update and create new attractions, rides and performances in order to sustain their visitorship …show more content…
Within Sentosa island, there are also other hotels not run by Genting Singapore.
Intensity of rivalry
Genting Group’s biggest competitor in Singapore’s casinos is Marina Bay Sands, whom although also experienced a decrease in revenue for their casinos, have it at a much smaller margin.
Escape theme park is an outdoor park located at Downtown East, Pasir Ris. It is not a theme park where fairy tales came alive like universal studio. But a normal park consisting of families and thrills rides catering for all ages. But the park is only available on Saturday, Sunday, primary and secondary and public holidays unlike Universal Studio which opens daily.
It is catered more for locals as the going to the place is a bit troublesome due to have to change bus going down there. Many tourists might not know how to get there. But Universal Studio is much simpler due to the monorail services. Also, the operation days falls on weekends and public holidays which make lesser tourist visiting it as they are not able to go in the theme park during weekdays as weekends might be packed and there might be a lot of queues for the rides.
Power of