A. List the top 3 ethical issues in Responsibility vs. Profitability at MGM Grand Resorts Intl. ?
Question:
A. List the top 3 ethical issues in "Responsibility vs. Profitability at MGM Grand Resorts Intl."?
B. Number these issues in terms of which should be dealt with first: 1 = should be addressed first, 2 = addressed after 1, 3 = should only be addressed after the first two.?
C. Develop three paragraphs total, discussing the following 3 items for each issue listed above. You can title each paragraph "issue 1...issue 2...issue 3."
1). Why is this issue urgent for the company? What will happen if the company does not act now?
2). Why is this issue important for the company? What will be the effect of this issue if it is not addressed until later??
3). Describe the top 3 ethical issues in "Responsibility vs. Profitability at MGM Grand Resorts Intl'."?How can you understand and describe the dimensions of the problem in relation to some of the concepts of the "levels of ethical discourse" or "a three-dimensional model for business ethics".
IVEY Publishing MGM RESORTS INTERNATIONAL: RESPONSIBILITY VERSUS PROFITABILITY¹ Won-Yong Oh and Jinsuh Tark wrote this case solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be transmitted, photocopied, digitized, or otherwise reproduced in any form or by any means without the permission of the copyright holder. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western University, London, Ontario, Canada, N6G ON1; (t) 519.661.3208; (e) cases@ivey.ca; www.iveycases.com. Our goal is to publish materials of highest quality; submit any errata to publishcases@ivey.ca. Copyright © 2021, Ivey Business School Foundation W24930 Jyoti Chopra, senior vice-president and chief diversity and sustainability officer of MGM Resorts International (MGM), was appointed to her position in November 2019 with a mandate of improving the company's social impact and environmental sustainability.2 MGM had run the responsible gambling program, given its social impact of its business model. Although the program itself had been successful- in 2020, the program surpassed over 1.25 million customer interactions nationwide³-it did not necessarily translate into financial profits for the company. To the contrary, MGM's revenue growth in gambling had been slow at the Las Vegas Strip resorts. Thus, MGM needed to attract as many customers as possible to gamble and it needed each customer to spend more to increase MGM's profits. COMPANY BACKGROUND MGM's fiscal year-end came to a close in March 2021. MGM wanted to have a corporate image as a responsible company by promoting its responsible gambling program. At the same time, it had to attract more customers, especially high rollers-gamblers who spent large amounts of money, to deal with the decline in gaming revenue. Did MGM need to choose between profitability and responsibility, or was there a way to achieve both? MGM Resorts International Version: 2021-10-19 Headquartered in Las Vegas, Nevada, MGM was a holding company operating hotel, casino, convention, dining, entertainment, and retail businesses. The company had three business segments: Las Vegas Strip resorts, regional operations, and MGM China. MGM owned most of the hotels and casinos on the Las Vegas Strip: MGM Grand, the Signature at MGM Grand, Bellagio, the Mirage, Vdara at Aria, Aria, Park MGM, New York-New York, Excalibur, Luxor, Delano Las Vegas, NoMad, and Mandalay Bay. The company also had operations in other cities in the United States and China (see Exhibit 1).7 Page 68 of 129 MGM's casino operations had a wide variety of slot machines, table games, and sports wagering. Further, the company provided high rollers with lounge access and high-limit rooms to provide differentiated and upscale experiences. For use only in the course BUAD 301 AY 22-23 CSUF at Califomia State University - Fullerton from 5/31/2022 to 5/31/2023. Use outside these parameters is a copyright violation. IVEY Publishing MGM RESORTS INTERNATIONAL: RESPONSIBILITY VERSUS PROFITABILITY¹ Won-Yong Oh and Jinsuh Tark wrote this case solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be transmitted, photocopied, digitized, or otherwise reproduced in any form or by any means without the permission of the copyright holder. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western University, London, Ontario, Canada, N6G ON1; (t) 519.661.3208; (e) cases@ivey.ca; www.iveycases.com. Our goal is to publish materials of highest quality; submit any errata to publishcases@ivey.ca. Copyright © 2021, Ivey Business School Foundation W24930 Jyoti Chopra, senior vice-president and chief diversity and sustainability officer of MGM Resorts International (MGM), was appointed to her position in November 2019 with a mandate of improving the company's social impact and environmental sustainability.2 MGM had run the responsible gambling program, given its social impact of its business model. Although the program itself had been successful- in 2020, the program surpassed over 1.25 million customer interactions nationwide³-it did not necessarily translate into financial profits for the company. To the contrary, MGM's revenue growth in gambling had been slow at the Las Vegas Strip resorts. Thus, MGM needed to attract as many customers as possible to gamble and it needed each customer to spend more to increase MGM's profits. COMPANY BACKGROUND MGM's fiscal year-end came to a close in March 2021. MGM wanted to have a corporate image as a responsible company by promoting its responsible gambling program. At the same time, it had to attract more customers, especially high rollers-gamblers who spent large amounts of money, to deal with the decline in gaming revenue. Did MGM need to choose between profitability and responsibility, or was there a way to achieve both? MGM Resorts International Version: 2021-10-19 Headquartered in Las Vegas, Nevada, MGM was a holding company operating hotel, casino, convention, dining, entertainment, and retail businesses. The company had three business segments: Las Vegas Strip resorts, regional operations, and MGM China. MGM owned most of the hotels and casinos on the Las Vegas Strip: MGM Grand, the Signature at MGM Grand, Bellagio, the Mirage, Vdara at Aria, Aria, Park MGM, New York-New York, Excalibur, Luxor, Delano Las Vegas, NoMad, and Mandalay Bay. The company also had operations in other cities in the United States and China (see Exhibit 1).7 Page 68 of 129 MGM's casino operations had a wide variety of slot machines, table games, and sports wagering. Further, the company provided high rollers with lounge access and high-limit rooms to provide differentiated and upscale experiences. For use only in the course BUAD 301 AY 22-23 CSUF at Califomia State University - Fullerton from 5/31/2022 to 5/31/2023. Use outside these parameters is a copyright violation. IVEY Publishing MGM RESORTS INTERNATIONAL: RESPONSIBILITY VERSUS PROFITABILITY¹ Won-Yong Oh and Jinsuh Tark wrote this case solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be transmitted, photocopied, digitized, or otherwise reproduced in any form or by any means without the permission of the copyright holder. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western University, London, Ontario, Canada, N6G ON1; (t) 519.661.3208; (e) cases@ivey.ca; www.iveycases.com. Our goal is to publish materials of highest quality; submit any errata to publishcases@ivey.ca. Copyright © 2021, Ivey Business School Foundation W24930 Jyoti Chopra, senior vice-president and chief diversity and sustainability officer of MGM Resorts International (MGM), was appointed to her position in November 2019 with a mandate of improving the company's social impact and environmental sustainability.2 MGM had run the responsible gambling program, given its social impact of its business model. Although the program itself had been successful- in 2020, the program surpassed over 1.25 million customer interactions nationwide³-it did not necessarily translate into financial profits for the company. To the contrary, MGM's revenue growth in gambling had been slow at the Las Vegas Strip resorts. Thus, MGM needed to attract as many customers as possible to gamble and it needed each customer to spend more to increase MGM's profits. COMPANY BACKGROUND MGM's fiscal year-end came to a close in March 2021. MGM wanted to have a corporate image as a responsible company by promoting its responsible gambling program. At the same time, it had to attract more customers, especially high rollers-gamblers who spent large amounts of money, to deal with the decline in gaming revenue. Did MGM need to choose between profitability and responsibility, or was there a way to achieve both? MGM Resorts International Version: 2021-10-19 Headquartered in Las Vegas, Nevada, MGM was a holding company operating hotel, casino, convention, dining, entertainment, and retail businesses. The company had three business segments: Las Vegas Strip resorts, regional operations, and MGM China. MGM owned most of the hotels and casinos on the Las Vegas Strip: MGM Grand, the Signature at MGM Grand, Bellagio, the Mirage, Vdara at Aria, Aria, Park MGM, New York-New York, Excalibur, Luxor, Delano Las Vegas, NoMad, and Mandalay Bay. The company also had operations in other cities in the United States and China (see Exhibit 1).7 Page 68 of 129 MGM's casino operations had a wide variety of slot machines, table games, and sports wagering. Further, the company provided high rollers with lounge access and high-limit rooms to provide differentiated and upscale experiences. For use only in the course BUAD 301 AY 22-23 CSUF at Califomia State University - Fullerton from 5/31/2022 to 5/31/2023. Use outside these parameters is a copyright violation. IVEY Publishing MGM RESORTS INTERNATIONAL: RESPONSIBILITY VERSUS PROFITABILITY¹ Won-Yong Oh and Jinsuh Tark wrote this case solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be transmitted, photocopied, digitized, or otherwise reproduced in any form or by any means without the permission of the copyright holder. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western University, London, Ontario, Canada, N6G ON1; (t) 519.661.3208; (e) cases@ivey.ca; www.iveycases.com. Our goal is to publish materials of highest quality; submit any errata to publishcases@ivey.ca. Copyright © 2021, Ivey Business School Foundation W24930 Jyoti Chopra, senior vice-president and chief diversity and sustainability officer of MGM Resorts International (MGM), was appointed to her position in November 2019 with a mandate of improving the company's social impact and environmental sustainability.2 MGM had run the responsible gambling program, given its social impact of its business model. Although the program itself had been successful- in 2020, the program surpassed over 1.25 million customer interactions nationwide³-it did not necessarily translate into financial profits for the company. To the contrary, MGM's revenue growth in gambling had been slow at the Las Vegas Strip resorts. Thus, MGM needed to attract as many customers as possible to gamble and it needed each customer to spend more to increase MGM's profits. COMPANY BACKGROUND MGM's fiscal year-end came to a close in March 2021. MGM wanted to have a corporate image as a responsible company by promoting its responsible gambling program. At the same time, it had to attract more customers, especially high rollers-gamblers who spent large amounts of money, to deal with the decline in gaming revenue. Did MGM need to choose between profitability and responsibility, or was there a way to achieve both? MGM Resorts International Version: 2021-10-19 Headquartered in Las Vegas, Nevada, MGM was a holding company operating hotel, casino, convention, dining, entertainment, and retail businesses. The company had three business segments: Las Vegas Strip resorts, regional operations, and MGM China. MGM owned most of the hotels and casinos on the Las Vegas Strip: MGM Grand, the Signature at MGM Grand, Bellagio, the Mirage, Vdara at Aria, Aria, Park MGM, New York-New York, Excalibur, Luxor, Delano Las Vegas, NoMad, and Mandalay Bay. The company also had operations in other cities in the United States and China (see Exhibit 1).7 Page 68 of 129 MGM's casino operations had a wide variety of slot machines, table games, and sports wagering. Further, the company provided high rollers with lounge access and high-limit rooms to provide differentiated and upscale experiences. For use only in the course BUAD 301 AY 22-23 CSUF at Califomia State University - Fullerton from 5/31/2022 to 5/31/2023. Use outside these parameters is a copyright violation.
Expert Answer:
A The ethical issues in Responsibility vs Profitability at MGM Grand Resorts Intl include 1 Balancing Responsible Gambling MGM faces the ethical dilemma of promoting responsible gambling while needing ... View the full answer
International Financial Reporting and Analysis
ISBN: 978-1408075012
5th edition
Authors: David Alexander, Anne Britton, Ann Jorissen
Students also viewed these business communication questions
-
Case Study: Quick Fix Dental Practice Technology requirements Application must be built using Visual Studio 2019 or Visual Studio 2017, professional or enterprise. The community edition is not...
-
It was 5:30 Friday afternoon, January 22, 2016. Bill Hall, the chairman and CEO of National Brands Inc. was clearing up the last of the papers on his desk and was looking forward to a relaxing...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
JDBC applications are made of two models: two-tier and three-tier model. (True/False)
-
Fill in each box with the appropriate reagent: CH3CHCHCH,CH2CCH 3 2 CH3 CH3 Ho CH3 1. CH3CHCCH2CH2CCH3 2. CH3CH CH3CH CH3 CH3
-
Print Corporation acquired all outstanding $10 par value voting common stock of Size Inc. on January 1, 20X9, in exchange for 25,000 shares of its $20 par value voting common stock. On December 31,...
-
Many firms engage in some form of B2B (business-to-business) Internet-based commerce. Search the Internet to learn about B2B relationships related to payroll processing, and then discuss how a small...
-
Rockwell Company has three operating divisions. Gross margin computations for these three divisions for 2012 are given below. Rockwell has determined that its total manufacturing overhead cost of...
-
Cullumber Company had these transactions during the current period. June 12 Issued 79,000 shares of $1 par value common stock for cash of $296,250. July 11 Nov. 28 Issued 2.500 shares of $100 par...
-
Alice J. and Bruce M. Byrd are married taxpayers who file a joint return. Their Social Security numbers are 123-45-6784 and 111-11-1113, respectively. Alices birthday is September 21, 1974, and...
-
Q2 Figure Q2.1 shows a first-floor plan of a reinforced concrete double storey building. As a structural designer at the consulting firm, you are required to perform the following task: 2800 2500...
-
ABC Registered, a sole proprietorship, began carrying on a business on September 1, 2023. A calendar based fiscal period ending December 31 was chosen. On October 1, 2023 the proprietorship purchased...
-
Mary carries on business as a sole proprietor that generated $100,000 in net accounting income. Included in this amount are: $7,000 of amortization expense; $4,000 for bad debt expense; $112,000 cost...
-
A 100 N uniform ladder of length 8 m rests against a smooth vertical wall. It the coefficient of static friction between the ladder and the floor is .4, what is the maximum angle that the ladder can...
-
Ghost Ltd has just paid a $4 dividend. The dividend is expected to grow at 12% for the next 4 years. After that, the grow rate will be 4% indefinitely. If the required return is 16%, find the current...
-
Suppose that ABC Corporation imported a product from XYZ Corporation and was billed 10 million payable in one year. The money market interest rates and foreign exchange rates are given as follows: ...
-
How has globalisation influenced the political economy of your China? Explain with reference to the systems that comprise a nation s political economy. What challenges might the legal system of your...
-
Assume Eq. 6-14 gives the drag force on a pilot plus ejection seat just after they are ejected from a plane traveling horizontally at 1300 km/h. Assume also that the mass of the seat is equal to the...
-
Spock purchased a space invader entertainment machine at the beginning of year 1 for 1000. He expects to receive at annual intervals the following receipts; at the end of year 1 400; end of year 2...
-
Seville pic is a rapidly expanding trading and manufacturing company. It is currently seeking to extend its product range in new markets. To achieve this growth it needs to raise ¬800 000. The...
-
HS, a contractor, signed a two year fixed price contract on 31 March 2008 for $300 000 to build a bridge. Total costs were originally estimated at $240 000. At 31 March 2009, HS extracted the...
-
The 2014 financial statements of LVMH Moet Hennessey-Louis Vuitton S.A. are presented in Appendix C of this book. LVMH is a Paris-based holding company and one of the worlds largest and best-known...
-
What is the purpose of the materials requisition?
-
What is the formula for calculating the factory overhead applied rate?
Study smarter with the SolutionInn App