On November 30, 2012, around twenty-five GLOBE students went to Macau to get to know more about Macanese businesses, particularly the casino business. Read these thoughts from Mike Tam (GBS Batch 8 - Year 1) to see what they learned from their journey.
“We spent a fruitful morning at the City of Dreams complex (COD) where we were shown around to see the facilities available in such a huge entertainment and hotel development. It is clear that COD seeks to satisfy each and every need of their customers, the people who gamble in the casinos, to attract as many of them as possible even to the extent of making huge investments in décor and amenities. Since the market is small and full of competitors, COD has to use every marketing tactic possible to withstand fierce competition.
We then met with Mr. Jimmy Chan, Vice President, Human Resources, Melco Crown Entertainment where we got a picture of the operation of the entertainment and gaming industry; he also spoke about Macau’s labor market situation. We learned that Macau’s labor market is totally different from the ones in other countries. The presentation by Mr. Chan also provided us a new perspective in HR management reflecting the HR conditions in Macau.
We also visited the Macao Trade Investment Promotion Institute and were given a talk about Macau’s economic situation and its economic potential. The presenter shared how the institute tried to support the SMEs in Macau despite the hard times brought by the labor shortage and their need for funding. Macau’s economic growth is still largely based on the entertainment sector which long-term is not expected to contribute as much to the economy as it does now. How the institute helps to promote businesses outside this sector is an important but challenging task for Macau. The trip enabled us to get a glimpse at Macau’s economy and experience how the entertainment sector became so prosperous.”
