Change Management in the Northern Nevada Casino Premier
In the research paper the key aspects of strategic planning and its implementation into practice in the light of organisation development, diversifying of its production and governing would be outlined on an example of Northern Nevada Casino Premier. Northern Nevada Casino Premier is one of the leaders in the market of gambling and gaming industry. It is located in Nevada State, Battle Mountain. It has got one restaurant and hotels. The main games, offered in the casino for gamblers, are Slots, Video Poker, and Blackjack.
The main stakeholders, who influence the formation of the corporate strategy development, insist on the implementation of the innovations into the corporative strategy development due to the high competition in the market of casino and online casino in particular. That is why the strategy of change management is being currently implemented into practice (Sieroty, 2010).
The main aim of implementation of change management in the casino is organisation of the revenue growth within the legislative requirements and regulations. For this purpose, the analysis of the poor previous planning, declining markets, competition, and huge debt has been made.
The first weak point of the previous planning was the fact that the key needs of the current casino market have not been taken into consideration while the new strategy development, because, at the moment, the most popular form of gambling is online gambling.
The second important issue is decline in the market of traditional casino. That is why the Northern Nevada Casino Premier develops the strategy of occupying the market of online gambling: offering the online roulette game, carrying out the poker tournaments and also Blackjack online. In such case, it is possible to introduce innovations into the casino system and to get additional source for revenue.
All the establishments, belonging to the gambling industry, apply innovations into their everyday practice because of high competition rate on the market. There are numerous casinos all over the world and the World Wide Web is fulfilled by online gambling offers so that the gamblers have got the right of choice. First of all, they chose the establishments which are reliable and time-tested. That is why, the establishment which is analysed in the research, has got an opportunity to be chosen from hundreds of other variants available on the market. The good name of this casino (which has been established in 1929), plays the role of brand in the improvement of this system and introducing the innovations (Hotel Nevada official web-site, 2010).
Finally, the last weak point of the existing situation in the Northern Nevada Casino Premier is its debt to the investors. The main reason for such situation is low recoupment of the previous project, which was directed to the casino gambling improvement. This project did not take into consideration the nowadays demand for the online gambling products. The main target audience for the online casino should be the gamblers who have got the average income rate and, at the same, time are willing to feel the excitement of game and to try their fortune in such popular casino as Northern Nevada Casino Premier online. It is possible to establish the strategic partnerships with other world-known online casinos and to organise common poker tournaments and other common projects (Growthink: Ideas. Capital. Action, 2011).
To conclude, it is important to make an emphasis that the best tool for demonstrating the value of diversity is the popularisation of online forms of gambling in order to stay competitive and to achieve high economic results from such activity.
The importance of taking up changes in the Northern Nevada Casino Premier is caused by the current situation in the market, needs for the innovations in the system, and also by the debt. The main aim of the change planning is improvement of the current situation by introducing the online form of casino- online gambling: roulette, poker etc. Such improvements will attract new clients and that, in turn, would increase the revenue rate. The main pros of online casinos are that there is no need to pay rent, to pay salaries for the personnel and to purchase expensive equipment, applied in traditional casinos.
Growthink: Ideas. Capital. Action. Official web-site (2011) Casino Business Plan Advice: Planning Your Casino’s Growth. Retrieved from http://www.growthink.com/businessplan/help-center/casino-business-plans
Hotel Nevada official web-site (2010) A brief history of the and its gambling hall Retrieved from http://www.hotelnevada.com/history.html
Sieroty, Chris (2010) Casinos warned to restrict player card information access. Retrieved from http://www.casinocitytimes.com/news/article/casinos-warned-to-restrict-player-card-information-access-196189