A Study of Business Strategy of Macau Tower Convention and Entertainment Centre

By

ACKNOWLEDGMENT

I would like to thank everyone who helped my completing my dissertation on the time including my supervisor, my teachers, my family and my friends. It is that without their efforts this research would not be possible.

DECLARATION

The dissertation submitted is the result of an individual effort and investigation, except where it is stated otherwise. The title of this dissertation and the depth have not been accepted by any degree neither it is being concurrently submitted for other degree.

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Table of Contents

ACKNOWLEDGMENTI

DECLARATIONII

CHAPTER 1: INTRODUCTIONIII

Background1

Significance of Research2

Rationale5

Ethical Concerns7

Critical Notions8

Structure of the Dissertation11

CHAPTER 2: LITERATURE REVIEW13

Introduction13

Inculcating Employees14

Strategic Vision15

Learning Organization22

Competitive Advantage23

Resource-Based View25

Knowledge-Based View26

Strategic Marketing28

Strategic Group29

Market Orientation31

Stakeholder-Focused Strategic Group34

Customer Relationship Management35

Advantages of Customer Relationship Management36

Role of Customer Service in an Organisation37

Customer Satisfaction37

Customer Perceptions and Service Quality38

Marketing and Sales Strategies40

Strategy Pyramids40

Competitive Edge40

First Phase41

Second Phase41

Third Phase42

Marketing Communications Strategy42

Target Audience42

Gender42

Age42

Socio-Economic Status43

Interests43

Positioning Statement43

Promotional Mix43

Advertising44

Public Relations44

Corporate Image44

CHAPTER 3: METHODOLOGY46

Introduction46

Research Design46

Researcher's Role48

Data Collection and Processing49

Data Analysis and Interpretation52

Quality and Verification54

Validity and Reliability55

Methodological Assumptions, Limitations, and Delimitations57

Principled Assurances59

CHAPTER 4: ANALYSIS61

PEST Analysis61

Political62

Economic63

Technological63

Porter's Five Forces64

Potential Entrants65

Substitute Products65

Power of Buyers65

Power of Suppliers66

Competitive Rivalry66

Management Model67

CHAPTER 5: CONCLUSION70

CHAPTER 1: INTRODUCTION

This chapter of the research tends to develop an understanding and identify the reasons for conducting a research onto the identified topic. However, in the context of this paper this chapter would inculcate the notions related to the need to carry out a Business Strategy of Macau Tower Convention and Entertainment Centre.

Background

Quinn (1996) claimed, the incongruity between vision and behaviour is an important topic that is worthy of further investigation. It would be hard to imagine that a corporate executive would argue with this statement. Therefore, developing business strategy and not analyzing it would be a waste of time. Today it would be difficult to find an organization that doesn't pay lip service to the idea that people are its greatest source of competitive difference. Understanding what motivates an average employee and the degree to which their respective outputs provide business benefits would be beneficial to organizational leaders. Once a vision is established and a strategic plan is in place, it must be clearly articulated to all within the organization. This process of establishing a vision that can move an organization to a new place in the market and rallying the team to follow is not always as easy as it sounds (Carman 1990, pp. 33-55). Many organizations go through the motions Bechtell describes by establishing the strategic objectives for the organization, yet without clear understanding of what needs to get accomplished, employees will deliver as best they can.

Having clear and understandable goals allows employees to match their performance to expectations. The difficulty for leaders as well as workers is that these goals are always susceptible to change. Competitive markets dictate that organizations examine business process changes to meet customer demands. The strategic planning process allows organizations to assess the marketplace and internal capabilities then mobilize into action thus creating organizational change. Thus, it would be safe to frame the notion that in today's modern world, ...