Risk Profile for a Casino Hotel Essay Example | Topics and Well Written Essays - 500 words

lay on the line Profile for a Casino Hotel - Essay ExampleIn order to lessen their effect one has to understand the miscellaneous risks that business is exposed to (Crouchy M). Basic step to embark upon this issue is to make an inventory of all possible reasons that ar directly or indirectly influencing the performance of the business and then try to mitigate them. This see mainly concentrates on a casino hotel various risks involved with it and the ways adopted by forethought to overcome these issues.1) Structural Risk It includes risk associated with the firm itself. The security issue is one of the major split of it. Guests must be secured enough from any sort of criminal activities inside the hotel. A single anti-peace incident may fall down its marketplace. To overcome it to a great extent, the casino has its own security employees. They jam care of any such violence on the premises and also special weapon checking installment has been implemented. Next comes risk lin ked with cheating and theft. As its related to gambling games so, cheating is obvious. forethought needs to observe closely whether any of their customer or hotel itself is getting cheated or not.2) Growth Risk Risks arising from the expected future performance is related to growth risk. Its not a monopolistic market rather, there is strong competition and hotel authority must struggle for its existence. Management provides well-structured perks and benefits to their members in order to stop them and also very often to the others to attract more customer. Other than this, arrangements for special programs during festive days are taken so that, in the market, it is more highlighted.3) External Sensitivity Risk There are whatever cases like an increase in government taxes, political revolution or increase in the unusual exchange rate which directly impacts on the business. Though management doesnt have straight chafe to solve them but maintaining a good relationship with customer s as well as political ships company sometimes gives a good return.