Benefits Of The Palace Amusement Company

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Introduction According to the official website, the Palace Amusement Company (1921) Limited was formed by Audley Morais, and operated as a Private Company prior to 1921 (silent movie days). He re-formed the company and offered shares to the public in 1921.
Over the years the Company operated Movies, Rose Garden, and Palace Cinemas. Gaiety and Majestic was subsequently acquired, Odeon (Mandeville) was leased, and other cinemas (urban and rural) were built. It operated cinemas and distributed films to many of the independent cinemas that existed in Jamaica and Cayman. Cinema Company of Jamaica Limited built the Carib, in competition to Palace in 1938. In 1947, J. Arthur Rank, from the United Kingdom, bought control in Palace Amusement Company.
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Retirement benefits are based on the average annual earnings in the last three years to retirement, and death benefits on members' accumulated contribution. Cinema employees’ pension plan The Company participates in a defined benefit plan which is open to all permanent cinema employees and administered by Sagicor Life Jamaica Limited. Retirement benefits are based on the average annual earnings in the last three years to retirement, and death benefits on members. Not much else was said regarding policies set by management for staff treatment however it was noted that wages and salaries for employees of the company were increased when compared to…show more content…
This is a concept taken from Igor Ansoff’s Growth Matrix- a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future growth. They are now looking for venues to build a cinema in north Kingston and one in Portmore. Situational Analysis
The company enjoys the comfort of being the most prominent and leading source of cinematic entertainment for Jamaican consumers for almost a century. However there are factors, within and outside of their control that can negatively, or positively, impact business. The following SWOT analysis encompasses the salient points relevant to the company and this body of research.
Strengths:
 The Palace Amusement Company Ltd is the sole cinema entity in Jamaica
 The company has a great working relationships with local banks, which enables them to invest more and have better overdraft options; stated in the 2016 annual report: “In the event that there is an overdraft balance with the bank, the Group and Company have bank overdraft facilities totaling $19,275,000 (2015 - $22,430,000)

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