Case Study Example | Topics and Well Written Essays - 500 words - 12

Case Study Example They do this through rallies on weekly basis where they have a system of accumulating customer care points. It is redeemable for various rewards (Kotler & Armstrong, 2012). Through efficient CRM, Harrah’s will manage to learn emergent aspects from customers like how often they visit. This will enable its management ensure better services to the satisfaction of the customers thus giving them a reason to come back again. Therefore, Harrah’s focus will be more on service development strategies as well as ways that will best suit their customers. For instance, Harrah’s will be sending about 250 million mails to members in a year and most customers will prefer this way because the information sent is relevant to them (Kotler & Armstrong, 2012). These Total Reward will be of great benefit to the customers for example during a trip to Atlantic City, someone can pick the busiest weekend where most hotels were booked fully. If he can swipe his Harrah’s Total Reward card in order to use, he can get an available room at reduced rate of 100 dollars a night. This explains how benefiting it is to be a loyal customer and it is motivating to the potential ones. Based on survey so far conducted, the number of people using Total Reward will be approximately 40 million customers. Most of the customers are just ordinary people like teachers, doctors, and bankers from different lifestyles (Kotler & Armstrong, 2012). This is different because for long time the industry has always focused on the rich people. Since the establishment of Total Reward, the annual gambling budget share can rise to 20% while 18% to the customers who preferred gambling at Harrah’s then at their hometown casinos (Kotler & Armstrong, 2012). The services in Harrah’s will bring better returns to the company in terms of revenue from the happy and loyal customers. For instance, as of 2009, Harrah’s became the biggest in the industry with revenue of 10 million dollars

Financial or Economic Systems Essay Example | Topics and Well Written Essays - 2500 words - 1

Financial or Economic Systems - Essay Example This paper illustrates that the collapses of 2008 resulting from the financial crisis were critical in pushing the button for corporates to alter corporate actions and restructure to access a wider market. It also alarmed governments to initiate radical reforms of existing corporate governance to salvage the situation. Transitory states awoke to the realization that the privilege of investors inclined to companies and economies that implement sound corporate governance. In relation to this, the challenge of the industry is double-edged: the harmonization of corporate governance to universal standards and the improvement of competitiveness to enhance the attraction of more investment. A great diversity exists in both the status of corporate economic systems and the measures to enhance them in most countries. Presumably, the stated diversity is a reflection of the variegated circumstances of every country. The circumstances include the development state of a nation, the relationship be tween government and business, the financial structure inclusive of funds procurement structures, the shareholding structure and the market for talent among others. Of interest are the commonalities that surface in the direction of system improvements. To say, the direction of enhancement in governance via mutual supervision and the improvements in mechanisms to this end is a typical feature in most countries with most countries endeavoring to enhance corporate systems. All this aim at maximizing long-term corporate value based on the perspective of an array of stakeholders. Nevertheless, it is worth noting that the approaches to enhancing corporate governance differ in relation to a country's economic ideology as earlier mentioned. For instance, a capitalistic economy would approach governance from a different viewpoint compared to a command-based economy. From theory, it is widely known that command economies dictate that the government makes the decision on the goods and service to be produced, coupled with their distribution. In this economy, government officials evaluate the needs and resources of the country or state and allocate or distribute the resources according to the evaluation. Arguably, rather than a hedge on the requirements of individual consumers, service and goods delivery inclines to aggregate needs.