Mgm And Corporate Social Responsibility

MGM Resorts International was incorporated in Delaware on January 29, 1986 as MGM Grand, Incorporated, a subsidiary of Kirk

Since 1998, Bank of America has become one of the most successful financial institutions in the industry. With the mission to “make financial lives better, through the power of every connection”, Bank of America has operated its business align with its purpose. While assisting its clients understand their money, the company also put on a lot of effort on helping the communities by executing Corporate Social Responsibility (CSR). It is undeniable that the company has successfully addressed many critical problems in the environmental, social and economics arenas, as it continually receive awards and recognitions for its CSR efforts.

It is easy to see that the text in this add strongly supports the authors credibility and character, otherwise known as ethos. The text describes the amenities of the hotel with many adjectives that suggest the MGM Grand is a top notch place to stay. The pictures also go along with the text to give the readers a better idea and actual picture of what they can expect at the hotel. You will not just get a regular continental breakfast, but you will have gourmet cuisine and fine dining. You should not just expect a mint on your pillow; they have luxurious accommodations for the whole family; such as luxurious suites. The MGM has more than just one pool. It has a 6.6 acre Grand Pool Complex. The use of these adjectives tells the reader that this is not just some normal hotel; it is the cream of the crop.

MGM Resorts International, NAICS Code 721120 are a sound global hospitality company that is featured in the Fortune 500 that operates an assortment of portfolios of destination resort brands. The operations of the company are divided into two divisions that include the MGM China as well as the Wholly Owned Domestic Resorts. Via the division on Wholly Owned Domestic Resorts, the company manages, owns and operates 15 resorts located in Nevada, Mississippi and Michigan. The resorts located in Las Vegas comprise of the MGM Grand Las Vegas, Bellagio, the Mirage, Mandalay Bay, Monte Carlo, Luxor, Excalibur, Circus-Circus and New York-New York. Resorts located in other cities in Nevada are the Gold Strike in Jean, Circus-Circus in Reno and Railroad Pass in Henderson. Beau Rivage and Gold Strike are in Mississippi and MGM Grand Detroit is in Michigan. The organization additionally possesses Shadow Creek, an elite golf course found ten miles north of its Las Vegas Strip resorts, and Primm Valley Golf Club at the California/Nevada state line. The company owns additional land adjacent to Borgata, a portion of which consists of common roads, landscaping and master plan improvements, and a portion of which was planned for a wholly-owned development, MGM Grand Atlantic City ("Market Research Reports - Research and Markets - Page unavailable," n.d.). The company additionally owns over 50% of other properties in Nevada and Illinois. For the concurrent segment, MGM

The Cosmopolitan opened its doors to the public in December of 2010, and continues to open its heart and share its vision with those lucky individuals who choose to stay there. Traditionally, Las Vegas casinos focus on their gaming, using their hotels’ other amenities to draw people in. The Cosmopolitan has chosen a different path, a path that has lead them to numerous awards, and in 2013 was rated “The Best Hotel in the World” by Gogobot. Currently owned by the Blackstone Group, The Cosmopolitan was never meant to be a casino, but a high-end condominium-hotel project. As funding dwindled, a new vison and company took over and transformed these condominiums into a luxurious hotel and resort. The Cosmopolitan is one of Marriott International’s Autograph Collection,

Companies today are heavily influenced by the demands of customers and stakeholders. Corporate social responsibility (CSR) refers to the social and environmental responsibility policies and practices developed by an organization to increase its positive influence and reduce its negative activity towards society (Parks, 2008). The business approach and corporate philosophy of an organization is easily altered due to economic pressures, technological improvement and stakeholder needs and demands. "Going green" or being eco-friendly is one such demand. Environmental and sustainability concerns originate most often from governments, consumer activists, and the general public (Schlosser, 2008). Thus, organizations must implement sustainability into daily practices. In addition, sustainability alters the nature of competition and drives companies to think differently about products, processes, and technologies (Parks, 2008).

Synopsis of the Situation The Bellagio was one of 23 properties of MGM MIRAGE, one of the world's leading hotel and gaming companies. Located in the heart of Las Vegas, The Bellagio was widely recognized as one of the premiere casino resorts in the world. Richly decorated, the resort featured a conservancy filled with unique botanical displays, and eight-acre lake featuring over 1,000 fountains that performed a choreographed ballet of water, music, and lights, top-notch amenities and entertainment options, and 200,000 square feet of convention space. In the casino operations area, the Bellagio operated 2,409 coin-operated gaming devices (slot machines), and 143 game tables. Approximately 1,000 people were employed in casino operations. As

Wynn Resorts, led by the romantic and visionary leader Steve Wynn, is a leader in the gaming and casinos industry. Following its mission statement of, “A commitment to providing an elegant environment, high-quality amenities, a superior level of service and distinctive attractions for our customers,” the company is well known for its luxury and excellence. Some major competitors in the Industry are MGM Mirage and Trump Entertainment Resorts. Fortune Magazine said that ”Wynn, which also led casino resort operators in 2009, ranked second in the hotel, casino and resort category for innovation and number 3 for people management, quality of management and quality of its products and services.” Wynn Resorts management strategy is that of focused differentiation. They create products and services that are unique and valued in which customers will pay a premium and they focus on an upper class segment. The company does well in management or in parenting, by using the experience of the corporate office and the support of the corporate office. Wynn Resorts does an excellent job in branding and is a big part of the company’s core competencies.

MGM serves both local and international customers for their range of businesses. The company targets nearby, destination and convenience customers by operating in strategic locations and states

Marriott International envisions itself to be the world’s lodging leader. Its mission is to provide the best possible lodging services experience to customers who vary in backgrounds, language, tradition, religion and cultures all around the world. Marriot is committed to environmental preservation through using environment-friendly technology and engages in social responsibility and community engagement.  We value our shareholder’s so we will only take steps that will ensure our growth. Most importantly, through our “spirit to serve”, we emphasize the importance of Marriott’s people and recognize the value they bring to the organization’s growth and success. It aims to increase revenues by 9% every year, to increase

king garage, fire station and on-site power plant. It was the single most expensive privately funded project in the western hemisphere. This project has so far been successful for MGM Mirage and is believed to create great revenues for the company.

Marriott has done a great job of participating in a diversified collection of charitable initiatives, events, and organizations. Their main area of focus has been the environment because that is where their business has the most impact. They have given and raised money for the preservation of 1.4 million acres of rainforest in the Juma Reserve in Brazil, glad to aid in the conservation effort that can save species and improve the global climate (http://www.marriott.com). Additionally, Marriot “launched “Nobility of Nature,” a $500,000 commitment to help protect the source of fresh water for more than 2 million people in Asia” (http://www.marriott.com).

CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit.

Wynn Resorts Limited (Wynn) is high-end developer and operator of resort-style casinos. Wynn offers hotel rooms and suites, gambling, fine-dining, spas, and boutiques. Founded in 2002 by American business magnate Steve Wynn, the company currently has two locations in Las Vegas, Nevada and two locations Macau, China. In 2016, Wynn plans to open Wynn Palace, a 1,700 room hotel and casino in Macau. The company is publicly traded on the NASDAQ Global Select Market under the ticker symbol WYNN.

Sony Corporation’s is one of the world’s largest corporations. Sony was founded in 1946 with its headquarter in Japan. It produces a variety of products, such as consumer’s devices, gaming, and communication devices. Its invention of the portable tape recorder was the break that the company needed in order to grow and enter other markets. (Corporate Info, 2015). Corporation’s main purpose is to achieve the highest profit and to satisfy the stakeholder involved (Krishnan, 2011). This encapsulated in the concept of corporate social responsibility (CSR). In this regard, it is important to examine Sony Corporation in terms of its adaptation and implementation of their social performance. Traditional business models have allowed companies to grow and expand since the focus is on the good of the businesses to the exclusion of everything else. This selfish regard for other stakeholders have taken its toll on people and the environment, hence, the call for greater responsibility and accountability from corporations, especially those that operate in many parts of the world (Seong-Tae and Lee Sang-Yoon, 2012). In line with this, this essay will examine Sony’s Social performance regarding to the environment, employment and human right issues, and the impact on company stakeholders and society. The stakeholder in this paper will be the shareholder, consumers and the employees in whom they share their business with.