Use SOSTAC to prepare a strategy document on how Gold Reef City Assignment - 1

Use SOSTAC to prepare a strategy document on how Gold Reef City (casino) could take the Rewards Programme from a functional experience to an emotional experience - Assignment Example A lot of time and resources go into running a business. Casinos, in particular, are a very tricky business to venture into because they require constant scrutiny, and if the owners are not cautious enough, the business may go bankrupt. Individuals frequent casinos to enjoy themselves while at the same time trying to make some money. Gambling is the primary activity that occurs within casinos and has brought both good and bad fortunes to the people who frequent casinos. Numerous numbers of people have lost billions of dollars in these casinos while quite a number of people have gained wealth from casinos. Some unscrupulous dealers operate some casinos and fleece their customers of their hard-earned money. It is, therefore, important that the authorities investigate these casinos for malpractice and fraud. The Gold Reef City Casino has to conduct a situation analysis before it can commence its operations. A situation analysis is a collection of methods that the organizations management uses to analyze its influences to better understand the organization`s capabilities, business environment and customers. A situation analysis consists of two areas namely micro and macroeconomics. Microeconomics refers to the study of business and individual decisions while macroeconomics refers to the study of higher decision makers, for example, the government. Macroeconomics looks at the external forces and factors that affect the business. The Gold Reef City casino has also conducted a situation analysis, and the recommendations were divided into two categories Micro and macroeconomics. The microeconomics include the new developments and upgrades that are well underway and the soon to be completed. The casino has invested in a new gaming area that is expected to bring in more customers and consequently more revenue. The incorporation of a new gaming system, which has