...that retains casinos, hotels, and golf techniques under several brands (Stutz, "Harrah's opts to hail name of Caesars"., 2008-04-10). The prime conclusion maker in the business is Mr. Gary William Loveman, leader, CEO, and head person of the Board (Harrah Entertainment, Company Profile of Harrah's Entertainment, 2001). Following is the Harrah’s operation statement: “Each of our brands will be the overwhelming first choice for casino entertainment of its targeted customers.” Loveman accomplishes its operation or mission statement through his policies and activities which profited him the credibility and respect interior Harrah’s after becoming CEO in 2003, as well as in the commerce (Harrah Entertainment, Company Profile of Harrah's Entertainment, 2001). He had escort Harrah’s in the course of a evolution to a more marketing-focused company and helped the business break out of a financial presentation plateau. And he had built a set of associations and an influential support so he could hold his aim on quality clients and development opportunities for its employees in the pattern of on-going training and vocation advancement programs. 2. Provide details of how Harrah segments its customers and a description of an advertisement from Harrah that targets one of these segments. This previous Harvard university lecturer had the considerations and abilities needed to analyze customer demeanor or behavior and fondness facts and figures and to put programs in location to capitalize on this...
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...12/6/2011 Barcenas|Bathan|Erum|Joseco|Pragacha|Rara|Ricafrente|Rivera | BA 170 Group 2 | Harrah’s Entertainment: Hitting the crm Jackpot | BA 170 Group 2 | Harrah’s Entertainment: Hitting the crm Jackpot | Harrah’s Entertainment Inc: Come out and Play In 1931, the casino gaming was legalized in Nevada and has become a socially acceptable form of recreational entertainment, thus, proliferation of casinos followed. In the early period of the industry, religious settlers felt that gambling was immoral which gambling was unacceptable for churches. But over the last decades, the popularity of gaming/casino industry has risen to new heights as casinos were forced to continuously change, renew, and rejuvenate themselves in order to survive in the industry. According to research, the US gambling industry consists of about 500 casinos, about 400 Indian casinos and bingo halls, and lotteries in about 40 states with combined annual revenue of about $80 billion. Today, the major players of the industry include Harrah’s Entertainment, MGM Resorts, and Boyd Gaming. The Gaming Industry To help us assess and have an in-depth understanding of this particular industry, Porter’s Five Forces Analysis is utilized: The threat of entry poses low pressure on the industry due to high barriers to entry. Government regulations and the large amount of capital requirement create barriers to new firms. The presence of close substitute products or services brings...
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...ComputerWorld magazine. Recipient of 2000 Leadership in Data Warehousing Award from the Data Warehousing Institute (TDWI), the premier association for data warehousing. The casino industry is highly competitive (rivalry among existing competitors is fierce). Bill Harrah was a man ahead of his time when he opened his first bingo parlor in 1937 with the commitment of getting to know each one of his customers. In 1984, Phil Satre, president and CEO of Harrah's, continued that commitment to customers. In search of its competitive advantage, Harrah's invested in an enterprisewide technology infrastructure to maintain Bill Harrah's original conviction: "Serve your customers well and they will be loyal." Harrah's Commitment to Customers Harrah's recently implemented its patented Total Hewards' program to help build strong relationships with its customers. The program rewards customers for their loyalty by tracking their gaming habits across its 26 properties and currently maintains information on over 19 million customers, information the company uses to analyze, predict, and maximize each customer's value. One major reason for the company's success is Harrah's implementation of a service-oriented strategy. Total Rewards allows Harrah's to give every customer the appropriate...
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...Question 1: The fundamental argument underlying Harrah’s strategy; is it better to catch many small fish or one big whale? The most rewards should be given to the group of customers with high customer worth, or customers who could potentially transition into that category (high predicted worth). Casinos typically target high rollers with a large bank roll who play high stake games. They court these types of players, offering complimentary rooms or services. Harrah’s on the other hand chooses to target low income working class individuals or retirees. They offer individualized incentives to those players based on the customer’s spending pattern. Each incentive is crafted to be profitable for that unique customer. Harrah’s is able to capture a large sum with their Total Rewards program and catering to people who choose to play games like slots. Although these games are not high stake with large sums of money riding per bet, the odds are greatly stacked in the houses favor. Another characteristic unique to Harrah’s is that they reward not just winners but losers as well. Other casinos offer deals to people who win large sums of money in order to get those winnings back. Harrah’s, on the contrary, give out nominal rewards like a free dinner to people who loose. Those individuals see it as customer services and feel more inclined to gamble at Harrah’s rather than a competitor. These unique practices along with a sophisticated IT database targeting customers who are likely to spend...
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...Harrah’s Entertainment Inc Abstract Harrah, a prominent name in the gambling industry, is seeking for new initiatives in order to attract and retain customers. The main focus of the company is on the database management program which will consolidate the information of customers and make a profile of each individual in order to track their preferences. Harrah has to implement additional strategies with the one mentioned above to gain competitive advantage in the industry. The importance of realization of ‘Clients worth’ has been discussed in order to highlight the major role it plays in the success of a business. The overall marketing recipe results in more profitability than the DBM alone, and hence, the company applies marketing strategies keeping in consideration the long term view of business management. In addition to the longevity of the strategies and policies, Harrah’s faces some ethical and privacy issues which are in need to be handled accordingly. What are the objectives of the various database marketing (DBM) programs and are they working? When its rivals entered new showcases with preferences of improvement throughout the era of 1990s, Harrah's topped the business development. Be that as it may, the organization rather decided to make utilization of an existing preference i.e. client steadfastness, rather endeavoring to make new assets. A showcasing database holds data about distinct clients or potential clients that are pertinent to the advertising process...
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...Geico Advantages to a Total Rewards Approach There are several advantages to using a total rewards approach to compensating the workforce. The top five are described in the text (pp. 15—17). The following paragraphs discuss the facets of the Geico total rewards program that align with these advantages: The first facet is Increased Flexibility. A total rewards approach, which combines transactional and relational awards, offers tremendous flexibility because it allows awards to be mixed and remixed to meet the different emotional and motivational needs of employees. Flexibility is a two way street. Both employers and employees want more of it. As the importance of flexibility has become more understood, more companies are allowing employees to determine when they work, where they work, and how they work. Total rewards recognizes that employees want and in many instances demand, the ability to integrate their lifestyle and their work. (WorldatWork, (2007). Geico cares about their employees’ life, now and in the years to come. Their total rewards approach offers several flexible plans for their employees. As a full-time GEICO associate, they are offered a competitive and comprehensive Total Rewards Program. It includes a variety of options to preserve their health and well-being, build wealth, secure their financial future, and enjoy more out of life. The second facet is improved recruitment and retention. A total rewards strategy is critical to...
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...Harrah’s Entertainment Inc. February 7, 2011 The goal of introducing the Gainsharing program was to increase employee motivation so they provide outstanding customer service. The differentiating factor in regaining and keeping bigger market share was through customer satisfaction. The Gainsharing program was effective in increasing both customer satisfaction and employee loyalty. Turnover went down from 70% to 50% in one year. It also proved to be an effective motivator to the food and beverage department of Harrah’s Las Vegas. Another great feature of this program was that it wasn’t tied to the financial performance of the company and the payout would be paid regardless of operating income results. Despite its positive features, the program had some drawbacks. The objectives that needed to be achieved in order to receive the gainsharing program’s bonus were not properly fine tuned. This led to situations where teams at most properties had missed their payout just by a small margin, leading to a feeling of let down. Also, the profits were not where they should be and the economy was dragging. Most employees were thankful to have jobs let alone bonus pay outs. The feature of getting a pay out regardless of financial performance was proving to be disadvantageous to the company. The incentive plan had cost $16 million in the previous year, and that felt like an especially big number now that revenues were dropping off because of broader economic conditions. Lastly...
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...Total Rewards Systems Proposal Your Name here Name of the University Instructor Name here HRM 533- Total Rewards Date Abstract This paper is provided to create, organize, and manage a total rewards program for an insurance company. First, it indicates the requirement of a total rewards system for the company. Then, it formulates a competitive strategy and explains it. Since the communication of a strategy is as important as the strategy itself, the paper includes a communication plan of the strategy. And last but not least it studies devising a competitive pay structure. 1. Create a brief overview of the company requirements for a total rewards system. Company A is a holding company that provides financial protection, insurance and asset management services that employs 20,000 employees in 17 different countries in Europe, North America and Asia Pacific (The Datamonitor Group, 2011). There are 2,000 management-level individuals who speak a variety of languages. The company employs diverse individuals who are governed by multiple regulatory environments. Company A’s business finds its primary source of strength in human competencies. The company believes in the power of talented and dedicated employees to make difference on the quality of the service delivered at the market. The company aims at gaining the preference of its customers and shareholders as well as its employees. Because the employees are at the core of purpose, the company...
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...Harrah's Entertainment case Hiroaki Tanaka 48167388 1. First, the objective of “New Business Program” was establishing relationships with new customers. The program was designed to develop the effectiveness at converting new Total Gold members into loyal customers by sending redeemable offers. Exhibit 2b showed that this program worked well. In April 1999, 1,022 new customers came to Harrah’s and the predicted worth of these customers was $31,992. In May, 125 customers of these 1,022 customers (12%) returned to Harrah’s and their predicted worth was $10,857 (34% of April).The decrease in predicted worth didn’t change so much compared to the one in customers. After that, the number of customers wend down gradually (12%→10%→8%), but the predicted worth remained stable (34%→33%→32%), which indicated that each month brought a new vintage of customers signing up. Second, Harrah’s made “Loyalty Program” to strengthen relationships with loyal customers. There were two sections for the program: Frequency Upside and Budget Upside. The former was designed to identify customers who gave Harrah’s only a small share of their spending and incentivize them to switch and visit Harrah’s more frequently instead of spending at their competitors. Harrah’s sent an offer which was different for customers of different perceived worth to Harrah’s. According to Exhibit 2c, the average frequency increased from 30 (Jan to May) to 150 (subsequent months). On the other hand, the objective of the...
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...Total Rewards System Proposal: Managing a total rewards program Create a brief overview of the company requirements for a total rewards system. Herizon is the largest telecommunications and broadband companies in the United States. We employ 20,000 employees in 17 different countries. We have a very diverse workforce with 2,000 management-level individuals who speak a variety of languages. We at Herizon believe having the right talent, at the right cost is what keeps our company striving. Our total rewards program delivers values that attract, retain and engage a mixture of talent across the globe while maintain a solid value for cost. As a leading telecommunications company we take pride in not only serving our customers but, our employees too. This is why we take great pride in our total rewards program. We want to make sure that we attract the best to work for our company, by offering the best. Our total rewards system is geared towards all of our employees. We have structured a program that will meet the needs of everyone, our total rewards program offers diversity. We have developed a plan that will offer great compensation, along with career development, retirement planning, profit sharing, and work life balance. We want our employees to know that we are a one stop shop. Our total rewards program is geared to keep our employees and to grow them within our organization. We care about your future and we take pride in knowing that our people are taken care...
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...Hrm 533 Total Rewards Strategy Proposal Abstract This paper is provided to create, organize, and manage a total rewards program for an insurance company. First, it indicates the requirement of a total rewards system for the company. Then, it formulates a competitive strategy and explains it. Since the communication of a strategy is as important as the strategy itself, the paper includes a communication plan of the strategy. And last but not least it studies devising a competitive pay structure. 1. Create a brief overview of the company requirements for a total rewards system. Company A is a holding company that provides financial protection, insurance and asset management services that employs 20,000 employees in 17 different countries in Europe, North America and Asia Pacific (The Datamonitor Group, 2011). There are 2,000 management-level individuals who speak a variety of languages. The company employs diverse individuals who are governed by multiple regulatory environments. Company A’s business finds its primary source of strength in human competencies. The company believes in the power of talented and dedicated employees to make difference on the quality of the service delivered at the market. The company aims at gaining the preference of its customers and shareholders as well as its employees. Because the employees are at the core of purpose, the company intends to build its collective success around a relationship in which the needs of itself and...
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...Geico Ivy Cuttino Strayer University Dr. Judie Bucholz Hrm533- Total Rewards January 22, 2012 Geico Employees Insurance Company has been in existence since in 1936 and was founded by Leo and Lillian Goodwin. Geico was established to provide auto insurance for governmental employees in the entire United States. Geico was based on the idea the governmental employees were safer and more financially dependable then the general public. With this way of thinking Geico was able to cut out the middle man “agents” saving money the company money. So they were able to pass these saving onto the customers, employees, and advertising. Geico total rewards program aligns with the basic total rewards program that is Compensation, Benefits, Work-Life, Performance & Recognition, and Development & Career Opportunities. This set up was designed and implemented to mirror how the government was operating. The way Geico was structure it developed and promoted internally. They used this technique at Geico to develop well knowledgeable employees as well as maintaining a low employee turnover ratio. These principles help develop the company that people see today. Determine which facets of the Geico total rewards program align with the five (5) top advantages to a total rewards outlined in Chapter 2 of the textbook and discuss your reasoning. The first facet when reviewing Geico compensation scale and comparing it to its competitors. Geico salaries are competitive to...
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...I. Company requirements for a total rewards system A total rewards system development is part art and part science that begins with a purpose and objective that encompasses the business' values and strategies. This service-based company is spread out over different geographical regions and different employee levels and structure. Therefore, it is even more important that the company aligns the purpose of this total rewards system to what the company is aiming at accomplishing. The most basic elements of a total rewards system are the compensation, benefits, work-life balance, performance and recognition, and personal and career development (World at Work, 2007). The total rewards system/program needs to offer all of these components in order to be considered “total”. For a total rewards system in such a company environment, the system has to be flexible and take into account the diversity of the company. With so many employees in so many different countries, it is important to consider the needs of these diverse peoples and how they can change from region to region and ethnicity to ethnicity. The company will also have to analyze its strategy competiveness in many different markets, so it will be required to perform many types of job analyses and surveys in order to properly determine this. For a service-based company, it is important to create clearly defined benchmarks and goals, while tied to company goals, are easily understood so that all of the multinational...
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...Assignment 1 Name: Jolene Grof For Dr. Larry Byrd HRM533 Date: April 25, 2014 Geico Advantages to a Total Rewards Approach There are several advantages to using a total rewards approach to compensating the workforce. The top five are described in the text. The following paragraphs discuss the facets of the Geico total rewards program that align with these advantages: The first facet is increased flexibility. Gieco offers full-time employees the option to choose their medical plan from a variety of plans. The company also has a dental plan that will pay out benefits to any dentist in the country. This provides employees with great flexibility in choosing the right dentist for their needs. The company not only has fitness centers at many locations but sometimes will offer employees discounted gym memberships at local establishments. This helps an employee choose a place that is comfortable (which could influence how often the person goes to the gym). The second facet is improved recruitment and retention. In providing some great benefits Geico hopes to find the right workers and ones that will stay with the company for the long haul. Employees are looking for balance when it comes to their work and life. This is one of the benefits of working for Geico. The company offers programs that can help employees juggle work and their outside of work lives and if employees are looking for this it is a great way to attract and keep...
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...Write a five to seven (5-7) page paper in which you: 1. Determine which facets of the Geico total rewards program align with the five (5) top advantages of a total rewards program outlined in Chapter 2 of the textbook and discuss your reasoning. 2. Create a strategy for ensuring that the Geico plan addresses all of the advantages. 3. Evaluate the effectiveness of the communication of Geico’s total rewards program based upon the Website’s descriptions of the benefits. Recommend two (2) areas for improvement. 4. Assuming employees are unhappy with the current plan, offer two (2) improvements or changes to Geico’s total rewards program. 5. Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources. Your assignment must follow these formatting requirements: • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. Geico Case Study Assignment # 1 Your Name here University Name here Instructor Name here HRM533 Date Geico Employees Insurance Company has been in existence since in 1936...
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