The History Of Genting Malaysia Berhad Tourism Essay

The History Of Genting Malaysia Berhad Tourism Essay Genting Malaysia Berhad was once known as Resort World Sdn Bhd, which was a share limited private company, incorporated under the Companies Act 1980, on 7 May 1980. The name was changed into Resort World Bhd from 1989 2009, being a public company and lastly known as Genting Malaysia Berhad. In 1989, Genting Malaysia had become an entire gaming, hotel and resort-related operations company. Shares of Genting Malaysia have been listed on Bursa Malaysia since 22 December 1989. Genting Malaysia has involved in leisure services and hospitality business field for over 45 years, such as theme parks, gaming, hotels, seaside resorts and entertainment. It has a loyalty card programmed named Genting World Card which contains over 3.3 million members alone in its Malaysias operations. The top business in the company is Resorts World Genting. It is a great place for family leisure and entertainment resort. It was situated at the top of Genting Highland and having around 19 millions of visitors annually for the past five years. The resort there has six hotels which are Highlands Hotel, Resort Hotel, Theme Park Hotel, Maxims Genting, Genting Hotel and First World Hotel. There 10,000 over rooms prepared for the visitors time by time. Theme parks (including outdoors and indoors), dining restaurant, mega shows and many more entertainment are all ready at one location. Genting Highlands Resort was voted the Worlds Leading Casino Resort at the year 2005, 2007 and 2008 and Asias Leading Casino Resort from 2005 to 2008 by World Travel Awards. Located close to Resorts World Genting, the operating business of Awana Genting Highlands Golf Country Resort too owned by Genting Malaysia. It has two chains named Awana Kijal Golf, Beach Spa Resort and Awana Porto Malai located at Terengganu and Langkawi subsequently, which are both two beautiful seaside. First World Hotel has won the worlds largest hotel with 6,118 rooms as recorded in the Guinness World Records and Ripleys Believe It or Not. Genting Malaysia did an equity investment on the Star Cruises Limited (the leading cruise operator of Asia Pacific) by 19.3%. Organizational Chart Genting Malaysia Berhad is a profitable organization. Its common purpose as others companies is to unifying its people and forces. It coordinated their workers to work together for a common purpose to give the best services and entertainment to customer as possible. With the organization division of labor function, it leads to greater efficiency in their workers performance in different categories and fields. Furthermore, an organization chart shows the hierarchy of authority through the chain of command (from the command from the board of authorities to the presidents and lastly to the workers). Genting Malaysia Berhad is accessing the wide span of control as shown on the chart above; every department was under the control of a chairman/chief executive- Tan Sri Lim Kok Thay. Next, this company has fallen on the functional structure. The workers are all grouped under the categories of similar work specialties to ease the management of the whole organizations operation. Every departm ent has their own specialized professionals in order to carry out the task given. On the same time, Genting Malaysia Berhad is a mechanistic organization. Its authority is centralized and employees are closely supervised in carrying out every specific job. For examples, reports are needed for any operations carried out. With the centralized hierarchy of authority, any instruction given by the chairman needed to be followed. True too that theres a lot of rules and procedures set by the company to obtained disciplined workers. For instance, letter must be written for requesting a lift and workers are needed to give reasons for why are they late and hand in a formal letter after that. Specialized task is a must for every department in order to run the organization smoothly. In the other side, it would be something special that in a mechanistic company, it has a wide span of control and flatter structures. Genting Malaysia Berhad undergoes differentiation as the organization are somehow operating under their own functions and do not need to work together to achieve the same purpose. It has a large organizational size as there are approximately 19,000 of full-time employees working under their organization. Chairman Chief Executive Tan Sri Lim Kok Thay Deputy Chairman of the Board Tun Mohammad Hanif bin Omar Director Tan Sri Alwi Jantan Director Mr. Quah Chek Tin Director Teo Eng Siong Director Tan Sri mohd Zahidi bin Hj Zainuddin Director Tan Sri Clifford Francis Herbert Senior Vice President- eService Rick Management Mr. Thomas Ng Seng Siew Senior Vice President- Human Resources Mr Eddie Teh Yong Teng Chief Financial Officer Ms. Koh Poh Yong Executive Vice President Resorts Operations Dato Kevin Sim Kia Ju President Chief Operating Officer Dato Lee Choong Yan Senior Vice President Finance Corporate Affairs Mr. James Koh Chuan Seng Senior vice President Hotel Operations Mr. Edward Arthur Holloway Senior Vice President- Casino Security Operations Mr. Lim Eng Ming Senior Vice President- Public Relationship Communications Dato Anthony Yeo Keat Seong Senior Vice President- Casino Operations- Mr. Aaron Chia Khong Chid Senior Vice President- Casino Marketing Mr Leow Beng Hooi Planning and Strategic Management Basic Strategies used to respond to uncertainty The Genting Group was found in 1965 by Malaysian entrepreneur the late Tan Sri Lim Goh Tong. The group has over 26 years of experience in developing, operating and marketing casinos and integrated resorts in different parts of the world. This company is using prospector strategies to do their business. Genting group has more than 26 years of experience in developing, operating and marketing casinos and integrated resorts in different parts of the world, It also includes the Americas, Australia, Malaysia, the Philippines, Singapore and United Kingdom. Genting Highland is the only one legal casino in Malaysia. It has been voted Malaysias leading corporation and one of Asias best managed multinationals. The groups integrated resort is Resorts World Genting, formerly known as Genting Highlands Resort. Genting Group is respond in prospectors. Although their main activities are casino and theme park but this company try to develop in others part. Genting Group starts to open concert shows, Strawberry Farm, food beverage and retail shopping in Genting highlands Resort. It is one of the most popular tourist destinations in Malaysia. The Genting Group has since expanded and diversified into other activities including plantations, properties, power generation, oil and gas, e-commerce, information technology and biotechnology. This company brave in trying new things and will not let its product stop on a point. Genting Highland Resort is under Genting Group, it always show the prosperity of Malaysia during public holidays. To be a successful company, Genting Group must find an efficient and effective strategies to run a its own company .The Genting Group are responding in prospectors as their company basic strategies. It means that Genting Group will bring more services to customers and do the best in future. Establish Vision and Mission Mission The purpose of Genting Group are : 1. Always care in changing demands of their customers and excel in providing quality products and services to satisfy customers wants. 2. Promise to innovation and the utilization of new technology to achieve competitive advantage. 3. Be responsible in generate a rational return to their shareholders. 4. Emphasize in personnel policies which recognize and reward performance to make them better. Encourage contributions of employees and provide proper training, development and opportunities for career advancement. 5. Be a responsible corporate citizen, always increasing corporate governance and transparency. Vision The Genting Group wish to be the leading multinational corporation committed to increase value of shareholders and keep maintaining long-term sustainable growth in their core businesses. SWOT ANALYSIS Strengths In 1997, Genting Highlands resort has launched a Skyway cable car which was further boosted its facility attraction. The Genting Skyway acquired the Worlds Fastest Mono Cable Car System with a speed at most 21.6km per hour and the Longest Cable Car in Malaysia and Southeast Asia. In fact, a lot of transportation is available, such as rental car, taxis, express bus, limousine coaches, shuttle services, or charter helicopter. Genting Highlands Resort possesses five hotels, namely Genting Hotel, Highlands Hotel, Resort Hotel, Theme Park Hotel and First World Hotel and two apartment blocks, Ria and Kayangan Apartment at the hilltop and Awana Genting Highlands Golf and Country Resort. All these hotels are offer comfortable housing and delicious cooking. Besides, large shopping malls are there for the visitors to grab anything that they wish for. Today, Genting Berhad is a multinational corporation in Malaysia that has been recognized by various organizations for its typical leadership and management. Besides, Genting Berhad was acknowledged as the No.1 Leading Company Street Journal 200(formerly Far Eastern Economic Review 200). Genting Berhad was also rated No.1 in Malaysia and No.2 in Asia for Overall Best Managed Company for the Decade by Asia money and No.5 in Best Corporate Social Responsibility. Furthermore, Genting is a good choice for a stroller family and children because of the present of outdoor theme park and indoor. The theme parks offer unique experience of snow villages and haunted adventures that can satisfy every pleasure seeker. Foe the cyber addict, Genting provides the most up-to-the-minute cyber games in the cyber. In addition, the casino in Genting which is the only legal casino in Malaysia is the most attraction to the adults because all the popular gambling games are provided included Chinese games. Weaknesses Next, one of the businesses running in Genting such as casinos can only participated by non-Muslim because it locates in an Islamic country. Therefore they lose a large amount of customer. Lastly, in order to provide the best goods and services, the equipment of the hotels, and the safety plan to make customer feel convenience, their cost to run out these services is large. Opportunities Geographically, Genting Berhad located in a peak of Titiwangsa Mountain, with an altitude of 2000 meters above sea level. Genting is surrounded by a flourishing green forest in its valley, the characteristic feature of equatorial region. The distinguishing feature of Genting is the soothing temperature which in between 16 to 23 degree. The climate is usually refreshing and cold, habitually cloudy and misty; therefore it provides a natural feel of air conditioning. In addition, the scenery from the peak offers an unforgettable experience of enchantment. These virtues attract the native crowd which offer them peacefulness that lack in the dusty city. These benefits will attract the tourist and foreigners come over and increase their revenue. Besides, Genting locates within Titiwangsa Mountains and between states of Selangor and Pahang of Malaysia that is accessible by car. For example, we have to spend an hour to reach there from Kuala Lumpur. Alternatively, we can choose the cable car called Genting Skyway (3.38 km) which is used to be the fastest in the world and South East Asias longest gondola lift. It is leads to the population growth in Pahang increased from 1288376 to 1534800 since year 2000. Threats Firstly, Genting have to face the risk of landslide because its company located at the hilltop. For example, theme park and casino are running at the hill. Due to the Gentings location, government has no budget to build them an electrical source and water. So, the company has to make it by themselves. Besides, gambling is a high profit business. So, a lot of competitors of Genting Company, for example China and Singapore want to open a legal gambling as well as the hotel for the gamblers to attract them. If the scenario is as mentioned, the profit which is originally can earn by Genting Berhad around the South Asia, now has to divide into several parts. The Casino de Genting is a support for the Malaysia government and it is also a threat. Genting supported government partaking in the casino industry is restricted, it will be a chance for them to divert investments in other Asian country with more open gambling laws such as the Philippines is a good location to choose. So, Genting Berhad will lose the opportunities from government. Hence, the revenue of Genting might be decline. Besides, the price and services that charge to the customers is higher than normal company because of the company located at the hill. The cost to run out the goods and services at the hill is also high. Grand strategy The grand strategy used by Genting Berhad is growth strategy. It helps them to become one of the largest conglomerate companies in Malaysia. It provides detailed information about Gentings first few years, and the effects of the companys founder Tan Sri Lim Goh Tong entrepreneurship and leadership. Since then explore how Genting extended to a variety of related and non-related business, as a strategy to expand its business operations in the domestic and international markets. It also details the growth strategy by the industry in each entry. Moreover, The Genting Berhad is a major player in Asia, but the owner of the $ 5.5 billion Resorts World Sentosa in Singapore is seeking global growth with key investments in the U.S. Genting recently paid $236 million for nearly 14 acres on the Miami waterfront. There are nearly 30 years of casino experience in hotel management, industry veteran, has joined Genting Singapore in 2010 to set up the casinos marketing team, in its flagship property, Resorts World Sentosa the city-state licensed casinos. On the other hand, Genting Berhad is eyeing casino opportunities in the highly regulated Japan or South Korea after building up a war chest of more than RM13bil to fund its expansion programme. RM13.2bil of Genting Bhds cash and cash equivalents on December 31, 2011 (fiscal 2011) RM11.9bil bank balances and deposits, money market instruments, while the remaining RM1.3bil. It can also produce more cash flow each year more than RM500mil. The Group has considerable stash funds to finance its expansion plans, but obviously, this is not complacent to rest on their laurels, it has just announced plans second problem in Singapore permanent securities, in order to raise more funds. In conclusion, by using the growth strategy, Genting Berhad able to produce high quality products, good performance and provide the best service to customers. Competitive strategies The competitive strategy used by Genting Berhad is differentiation strategy. This competitive strategy is to offer products or services that are unique and directed to customers who are price insensitive.Genting Berhad is well-known and has wide market.Genting Behad has a large target. Five Peak Resort Hotel, Genting Hotel, Highlands Hotel, Resort Hotel, Theme Park Hotel, First World Hotel in 2004, compared to the overall average of 84% occupancy rate and average room rate of RM89, 77% and RM78 respectively 2003years. During the year, the Group continues to enhance its products and facilities, in order to attract new and repeat resort visitors. Genting Hotel, two floors were converted to the motto of the club was originally called the elite club. This hotel within a hotel concept features two villa suites, 50 suites, 11 executive suites and 39 executive suites, business center upgrades, private VIP check lounge and a unique dining and entertainment facilities . These contemporary designed private suites offer luxurious amenities and state-of-the-art in-room facilities as well as personalized butler service, designed to premium guests and business travelers. The geographical reach of the Internet enables distant competitors such as what Singapore and China want to do, where they want to open a gambling area for gamblers as well as the hotel to bring competition into the local market, or even an indirect competitor to compete more directly with Genting Company. However, Genting Highland is under individual land, so it doesnt have any problems since it is a monopoly type of company. There have own websites and other IT facilities, such as hotels, gambling machines, Genting World Co., Ltd. to expand its products and services, and to provide new products, to provide a differentiated product, depending on the target market. For example, the First World Hotel is a high-end market of the mid-market customers, Genting Highlands Resort. Through its Web site, customers can choose what is the best product to suit their taste and budget. Genting World Card members can get more loyal members and reward them with valuable advice and privileges as long as the use of the card any the Genting products and services. In conclusion, Genting is using differentiation competitive strategy in their business. By using this strategy, they can keep improving their service and get the competitive advantage in future. Recommendation Recommendations on utilizing the strengths of Genting Malaysia Berhad For strength, Genting Company should enhance the security measures in their transportation facilities. As people know, Genting is very well-known with Skyway cable car which is known as the Longest Cable Car in Malaysia and Southeast Asia .But however, some people will insist to drive there rather than utilizing the cable car. This because people will assume that the Skyway cable car is not really safe as the security measures are not strong enough to support their weight .Hence, people will choose not to utilize the facility. For the second strength, Genting Company possesses many hotels to attract customers. Besides comfortable housing and delicious food, Genting Company should build in more entertainment corners for their customers. For example: gym room for customers to work out meanwhile to release stress, coffee room to give customer a small corner to relax and interact with each other, spa that allows customers to enjoy and release themselves, swimming pool and so on. All these facilities will definitely attract more customers to come over. In addition, Genting should use their names of becoming the 1st Leading Company Street Journal 200(formerly Far Eastern Economic Review 200) to become the 1st company in the world instead of Malaysia. Genting should eventually improve their leadership and management to achieve the goal. For example, Genting Company should give their workers more training and therefore self development of every worker may occur. The location where Genting Company has now is totally a good strength for their company to attract customers. The flourishing green forest around them and the soothing temperature in Genting is one of the main attractions of Genting. To attract more people for coming to Genting, Genting Company should enhance the great environment that they already had now. Genting Company should emphasize more on the environmental problem so that the environment will always be the one who can attracts customers to Genting. Moreover, Genting is the best choice where every people can go no matter the young or the old people. For young people, they can enjoy the theme park to the extreme high level while for the elders one, they can pay a visit to the casino .The casino is one of the legal casino in Malaysia and hence Genting should eventually upgrade it to attract more customers to come over . As a result, Genting should employ more workers to work in the casino and give them some intensive training to show their professionalism to the customers. Recommendations on utilizing the opportunities of Genting Malaysia Berhad The weather in Genting is one of the best opportunities among all the others which eventually attract people to Genting. The cold weather in Genting is rarely found in Malaysia and even other places which are not higher than 26 degree Celsius and not lower than 14 degree Celsius. This perfect weather makes people wanted to pay a visit to Genting for entertainment due to the hot weather in Malaysia or extremely cold weather in other places. Besides that, the location of Genting also becomes one of the opportunities for Genting. Genting locates within Titiwangsa Mountains and between states of Selangor and Pahang which is not that for from every state so that people from every state are able to come over. Moreover, the location is accessible by car which gives another convenience for people to come over. As a result, people can easily travel to Genting as they want due to the convenience that Genting have. Recommendation to overcome weaknesses of Genting Malaysia Berhad As we analyzed, the first weakness of this company is one of the business running in Genting like casino is not suitable for non-Muslims. There is no certain ways to cure this weakness as it is related to religious issue. Meanwhile, Genting can set up more business centre which suits everyone even every religious to replace the loss of customers and income. Large costs to run out the best goods and services are also one of the weaknesses for Genting. Genting should try to adjust their internal and external expenses to save for other usage. For example, they can find some company to sponsor their costs for certain activities such as live shows and concerts. It can reduce the burden for Genting. Recommendation to overcome threats of Genting Malaysia Berhad As stated in the SWOT analysis, the first weakness is the risk of landslide because Genting is located at the hilltop. To overcome this weakness, a retaining wall should be built. A solid, well-designed retaining wall should made by strong and reliable materials. The stability of the wall can increase by the drainage materials behind the wall. Besides that, a diverting debris pathway can also prevent landslide. It can create with the help of retaining wall. Besides, the next threats are the new entrants from foreign countries such as Singapore and China. To counter this threat, it is crucial to stress out the competitive advantage having by Genting which is the weather and location. For those new entrants, they may not have the unique weather that Genting has. So, the competitive advantage of Genting needs to be stressed that it is a best place to have the theme park excitement and accommodation hotel with the cold weather as its located at the hilltop. Apart from this, Genting seems to have a good and strategic location. This is because it is located almost the middle of Peninsular Malaysia. The important thing is, Genting is a place that would not miss out whenever tourists visit Kuala Lumpur because it is very near. Lastly, the price and services that charge to the customers is higher than normal company. This may lead to decrease in consumption by customers. In order to overcome this problem, Genting should consider adjusting the fees and charges. They can try to conduct some special activities with lower charges or promotions during holidays or specific festivals to attract customers in order to increase revenue. As a consumer, people will be easier attracted and tend to spend more when these activities with lower prices is conducting. It also purposely will increase companys profit. Genting should also take note that high prices of goods and services will reduce the demand from customers. Conclusion In conclusion, the attraction of Genting Highland is known as the Fun City above the Cloud due to the refreshing weather. Genting Group comprises four listed entities such as Genting Malaysia Berhad, Genting Plantations Berhad, Genting Singapore Plc and Genting Hong Kong Limited. According to the latest information, in December 2006, Genting Group won the tender in obtaining one of two Singapore casino licenses to build a resort, called Resorts World Sentosa, which is under Genting Singapore. The project is to create a symbol major tourist attraction for the booming Asian tourism market. In 2007, Genting Plantations try into biotechnology to develop complex genomic processes and naturally occurring processes for alternative energy resources through an equally owned joined venture with Synthetic Genomics. In September 2010, Genting New York won a bid to build a racino at Aqueduct Race Track in New York City, this is the first step of a planned expansion in the United States. In June 2 011, Genting UK was awarded a casino license for a 55,000 sq-meter mixed-use facility in Birmingham. The development is in partnership with the NEC Group. In Malaysias Leading 100 Graduate Employers Award 2011, Genting Malaysia Berhad  is one of the Top 10 Leading Employers and also becoming the Winner in Leisure, Travel and Hospitality Sector which is awarded by GTI Media and trendence Institute. In the Malaysia 1000 Awards, Genting Malaysia Berhad has been awarded the Industry Excellence Award Hotel Sector 2010/2011 by BASIS Publications House Sdn Bhd Malaysia National News Agency (BERNAMA). Genting Group is making Malaysia major in offers a wide range of facilities, entertainment, and others. Besides that, Genting Group has almost US$46 billion at 31 May 2011 in combined market capitalization. Genting not only popular in Asian, it also has a lot of product spread all over. Without doubt, Genting is a good image company. Reference and Appendices http://www.gentingmalaysia.com/malaysia_workplace.htm http://www.genting.com/groupprofile/rwb.html http://www.gentingmalaysia.com/profile.htm http://www.gentingmalaysia.com/bod.htm http://www.theofficialboard.com/org-chart/resorts-world http://nurinabalqis.tripod.com/id14.html http://essaysforstudent.com/Business/Genting-Group/5284.html (function() { var scribd = document.createElement("script"); scribd.type = "text/javascript"; scribd.async = true; scribd.src = "https://www.scribd.com/javascripts/embed_code/inject.js"; var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(scribd, s); })() http://www.reportlinker.com/p0794400/Genting-Malaysia-Berhad-Company-Profile-and-SWOT-Analysis.html http://ebookbrowse.com/genting-berhad-swot-analysis-bac-pdf-d275936981