Free Essay On Jim Murren Video Analysis
James. J. Murren, Chief Executive Officer of MGM Resorts International, provides excellent insights about the ups and downs of MGM, its organizational strategy, financial stability, expansion plans, and strong ethics. Some of the important learnings that I absorbed from the conversation are; a company needs to be financially strong, make strategies to keep growing, and be ethical. Technology must be used as an important tool in operations, finance, and provide enterprise solution, contact customers, and market programs through social media. Trigger based marketing helps customers to decide in real time situations. Customers make decisions based on the social media, as lot of content flows on social channels, and it is vital to provide quality content on internet.
In global companies, controlling supply chain is very important, rather than branding, if the company is already a reputed brand. Internet is being used as a competitive tool, and media in general is poised on companies’ ability to adapt quickly. Companies must be on a competitive edge, and without competition, companies cannot do well. Regarding employees, it is important to get employees out of comfort zone, and conduct cross departmental training to improve employee performance. Constructive feedback triggers employees to perform well and recognition motivates them.
As a hotel management major student, I believe that being a team player is important to learn the aspects of the organization. It is an essential requirement to be a better person from the team perspective, stay positive and determined even when the organization is financially unstable. Mistakes are a part of life, and everyone does not have answers for everything. An international resorts organization such as MGM has various departments with diverse people, and it is critical to feed on positive energy of people and be clear by providing constructive feedback. I also believe that the role of Chief Marketing Officer is important in hotel marketing, casino marketing, advertising and sales.