The paper "General and Specific Environment Conditions on Gambling in Australia " is a good example of a business cases study. Gambling in Australia has increased tremendously over the past 40 years. Increase in the number of gambling activities has been contributed mainly by the establishment of the totalisator agency board (TAB) and the Lotteries Commission. In around 1994, the industry received considerable expansion following the introduction of the electronic gaming machine. Policies and laws governing gambling have continually evolved since colonization. Gambling industry in Australia mainly comprises of lotteries and lottery products, racing, an electronic gaming machine in clubs and hotels, wagering among other forms.
According to research findings, the rate of gambling participation does not seem to increase in the past five years. It has been observed that the industry no longer attracts a large group of the population instead has consistently registered heightened expenditure on the gambling activities that are already in existence. The global financial crisis among other harsh environmental factors has impacted greatly on Australia’ s gambling industry. Gambling consumers have been forced to cut down on luxuries and other discretionary spending and as a result, providers of gambling services have witnessed a significant decline in annual incomes.
Other countries such as Las Vegas, Macau and Japan have also experienced the same kind of trend in reduction in the revenues obtained in the gambling industry. In addition to this, suppliers of the industry have not been left out by the downstream trend in terms of revenues and most have been forced to redefine their future profit forecasts. This essay seeks to evaluate the general and specific environmental conditions affecting the gambling industry in Australia.
It will also seek to find out how the already existing industry is attractive to new entrants and what can be incorporated to make it more effective. It will also analyze another organization in Australia undergoing similar circumstances (Hawke 2000). General and Specific environment conditions in the gambling industry The environment of an organization consists of the external factors of that influence performance and decision-making process of an organization. Environmental factors can be classified by either from the source such as social, political, technology and economic or by proximity such as the task environments and the micro-environments (Neuman 2003). The government: The responsibility of regulation and implementation of responsible gambling in Australia is by the Minister for Gambling.
Commercial gambling is regulated by the Independent Gambling Authority (IGA). Gambling in Australia is considered one of the greatest contributors to state revenue. On the other hand, the same government that taxes gamblers also takes part in contributing towards gambling for instance into the Gambler Rehabilitation Fund and other associations involved in problem gambling. Competition: The gambling industry in Australia has continually received massive competition from other entertainment industries in the region.
Originally, gambling was highly opposed by many people during its introduction. However, many have embraced it and actually participate in it more so due to the establishment of a wide range of gambling products (Slater and Olson 2002). Globalization: With the ever-growing dynamic trends, the gambling industry is constantly threatened by potential new entrants and products substitutes. The industry has shown an upstream trend in terms of returns and this has contributed to attracting new players in the industry hence increased number of products. Technology: Introduction of electronic gambling machines is considered as one of the greatest achievements of the gambling industry in Australia.
Majority of the gamblers go EGM since it is more interesting. Besides this, research has indicated that the rate has also been boosted following the introduction of EGM in hotels, casinos and clubs. Advances in technology and communication have enhanced distance trading whereby the company is able to trade its products in other parts of the world in a cost and time-effective manner.
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