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External Analysis Of Mgm Resorts International Essay

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III. External Analysis of MGM Resorts International 1. Are any changes taking place in the macro-environment that might have a positive or negative impact on the industry in which your company is based? Apply the PESTEL framework to identify which factors may be the most important in your industry. What will be the effect on your industry? Changes in the macro-environment today that could have effects on the Hotels, Casinos, and Resorts industry would be political things with the recent election of Donald Trump as president. This could have a somewhat negative effect on the industry because of the economic factors that come into play after an election. We saw that during the election, there was a big drop in the stock market, which is somewhat expected, but also a sign of fear. People are starting to fear that another housing bubble is in the making and when this bubble occurred and burst from 2007 to 2009, we faced a major economic recession that greatly affected the Resorts industry. After the recession, we saw a revitalization of the Resorts industry and it once again became a booming industry, especially in Las Vegas. As for now, things continue to be normal and nothing at this very moment seems to be taking place in the macro-environment that is making big positive or negative impacts on this industry. PESTEL framework for the Resorts/ Hospitality industry would go as follows: Industry Strength of Impact P E S T E L Hotels, Casinos, Resorts/ Hospitality 1 5 3 4 1 4
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