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Macau Periodical Index (澳門期刊論文索引)
- Author
- Chung, CP Roy ; Koo, HY Hannah
- Title
- Developing a risk management mechanism for the gaming industry in Macau
- Journal Name
- 澳門博彩
- Pub. Info
- Dec. 2012, 總第9期, pp. 23-41
- Link
- http://www.mgra.org.mo/jounal/Journal9/121219-Journal%20of%20Macau%20Gaming%20Research%20Association%20Issue%209-.pdf
- Keyword
- Risk management mechanism；Risk Priority Number (RPN) ；Multi-Dimensional Scaling (MDS) ；Risk Interconnection Map (RIM)
- Abstract
- Abstract : Beyond doubt the gaming industry is most important to the sustained success for Macau. While the industry has been growing spectacularly well since its liberalization in 2004, time is ripe to critically review the factors that may adversely affect its long term, healthy, and harmonious development. We need to be vigilant in peace time. Being able to think of possible crises while living in safe environment has been our traditional wisdom. There is an obvious need to develop and maintain a risk management mechanism for the gaming industry. Appropriate precautionary measures developed through rigorous study can help mitigate the damage brought by crises and in turn will ensure the sustained development of Macau. Risks and crises, if handled properly, can possibly be transformed into opportunities. This research adopts an integrative approach through systematic and comprehensive investigation to establish an approach to monitor and to predict risks and crises for the gaming industry in Macau. This would provide a useful reference for the society and government of Macau in handling them. Through a series of focus group meetings supplemented by Delphi questionnaires, a list of 18 risk items is identified. Five dimensions of risk are deployed to quantify the risks, viz., severity, probability, detectability, the product of severity and probability, and the product of severity, propability, and detectability (i.e. the Risk Priority Number, RPN). The participants comprise of three groups, i.e. the academic, veteran professional casino employees, and university students in Macau. Two sets of questionnaires were collected. One questionnaire measures the perceived extent of severity, probability, and detectability of the 18 risks by 236 respondents. The other input form is about the relative similarity and dissimilarity of the same 18 risks to generate various perceptual maps among 253 respondents using Multi-Dimensional Scaling (MDS) technique. The MDS together with the correlation coefficients associations among the risk produce a series of Risks Interconnection Map(RIM) to succinctly depict the risk items. Five basic risk categories are revealed: Human Resources; Macau Government Policy; Crises; Customer Source from China; and Commercial Issues. Paragraph Headings: 1. The gaming industry in Macau 2. Risk 3. Research approaches 4. Risk Priority Numbers(RPN) 5. Multi-Dimensional Scaling(MDS) 6. Risks Interconnections Map(RIM) 7. Recommendations Tables: 1. Distribution of gender of respondents 2. Distribution of whether respondents are working in casino 3. Descending order of risk severity 4. Descending order of risk propability 5. Descending order of risk detectability 6. Descending order of risk severuty probability 7. Descending order of risk priority number(RPN) 8. Independent Samples T-Test with gender as independent variable 9. Independent Samples T-Test with whether working in casinos as independent cariable 10. Correlation coefficients of RPN scores of 18 factors 11. Summary of all risk factor means grouped under respective risk clusters Figures: 1.MDS of all 253 respondents 2.Risk Interconnection Map(RIM) representing RPN linkages