Wynn Resorts: Company Strengths and Weaknesses

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Recommended: Competitive advantage and competitive strategy

Company Strengths and Weaknesses The aforementioned data introduced in the financial section demonstrates that Wynn Resorts has been a very profitable company, in wake of aggressive competition. To further demonstrate the success of Wynn Resorts, we have identified two predominant competencies which give Wynn Resorts competitive advantages above other related corporations. These competencies are listed below. Company Strengths Overall Financial Stability “A commitment to providing an elegant environment, high quality amenities, a superior level of service and distinctive attractions for our customers.”1 a. Does the competency provide access to a wide variety of markets? Financial stability for a company such as Wynn Resorts essentially aggregates to advance profits. Wynn Resorts’ shareholders, investors, and employees are more willing to deal with a financially stable business upon financially conducive conditions. These conditions allow for expansion, greater profitability and an overall stable operation. This fact suggests Wynn Resorts has developed an ability to remain close to its core competency and strategy through expansion. Therefore this competency does provide access to a wide range of prospective markets. b. Does it make a significant contribution to the perceived customer benefits of the end product? Corporations such as Wynn Resorts are established to make money and increase value for their shareholders. Concerning the financial stability of Wynn Resorts, they must produce revenue to cover operating costs and maintain itself as a growing concern. Second, profits reward management and owners for the commercial risks involved. Financial stability and earnings power are directly linked. Further, strong managemen... ... middle of paper ... ...ely strong. Potential entrants have ample access to suppliers and a consumer base willing to visit and spend money at newer and better luxury resorts. Consumers in the in the gambling industry have an exceptional hold on bargaining power, while the bargaining power when it concerns suppliers remain somewhat low. Even though Wynn Resorts has concentrated a vast amount of resources to offer a variety of activities at their resort, the threat of substitutes remains relatively strong. The Las Vegas strip is associated with the massive amount of casinos and luxury resorts, thus making the ease of locating a substitute for consumers high. Works Cited 1. http://elonstratwinnresorts.wetpaint.com/ 2. http://money.cnn.com/quote/chart/chart.html?pg=ch&symb=WYNN&time=1yr&freq=1dy&charts=0&comp=&compidx=aaaaa%7E0&ind_compind=8677%7E3234821&uf=0&lf=1&ma=0&maval=60

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