Principles Of The International Olympic Committee

It is evident that hosting the Olympics games is no walk in the park. The countries trusted with this task have to spend billions to make the games a reality. Some people believe that the countries, even after spending billions of dollars benefit from the games, while others believe that the money can be spent elsewhere more efficiently. To reach a conclusion, one must study all of the different impacts in all of the different sectors the games have.

This is done precisely because a contradiction exists in the quest for all teams to have the best and newest facilities, there is a natural flow of the capitalist system, someone is always winning, whereas others are losing or at the very least, not winning as much (Harvey, 2006). Thus, the individual, the corporation, or, in our case, the athletics departments must always attempt to keep up with the most accomplished if they intend to win, but it is mathematically impossible for all to succeed (“The Role of Athletics”,

According to the text, on Olympic.org (2017), the Olympic Games are one of the most effective global marketing platforms reaching billions in over 200 countries and territories. Corporate partners help provide vital technical services, product support, Games staging, and operations of every organization within the Olympic Program (Olympic.org, 2017). Olympic sponsorships create images of brand goodwill, build awareness and communicate messages, and afford employee reward and client entertainment opportunities (Keller, 2014). These

It is the company’s obligation to recognise and work towards the legitimate interests of its stakeholders but some practices seemed to deviate from that viewpoint. Key management personnel share reduced from 11.5% to 7.3% in 2015. Anchorage’s usage of earnings management and manipulation to influence market opinion worked against the code of ethics and is subject to senate inquiry. The company’s poor corporate strategy promised that

Sport events like the Olympic games provide the opportunity for host countries to show their

The Olympic Charter reads: “Olympism is a philosophy of life, exalting and combining in a balanced whole, the qualities of body, will and mind” ("Olympic movement medical," 2009). The execution of this moral statement can be exalted through the provided medical services and personnel that deliver such services during the Olympic Games. The Medical Commission, as an ordinance from the International Olympic Committee (IOC), aims to provide legislature to protect the health and well-being of each Olympic athlete (“The Medical Commission”, 2014). Its mission began in 1967, and since its inception, the intentions of the medical commission were to protect the health of all athletes (“The Medical Commission”, 2014). 47 years later, the medical

A concern with the Special olympics is issues with growth management and finance. Since the early 1990s Special Olympics has invested increasing financial and human resources in expanding its international presence and number of athletes. Special Olympics has grown from 1 million athletes in 2000 to 3.5 million in 2011, with ambitious plans laid out in its five-year Strategic Plan to reach 5.3 million athletes by 2015. While increasing geographic reach and athlete participation will be a priority, Special Olympics is committed to the principle of sustainable quality growth, acknowledging that rapid growth must be matched by quality in service and support. (www.sonc.org)

In defense of the companies, I think that they can bribe star athletes because it helps their businesses grow. When the players become pros, it helps the companies make more money because the pro players advertise

in some events, sponsorship rights to the event itself do not include associated media rights. As a result, some sponsors discover their rivals have obtained broadcasting rights and, in some cases, higher profiles than they themselves obtain, despite their official status. The most famous example of this is Kodak’s sponsorship of the ABC broadcasts of the 1984 Olympics, noted

In addition, the Olympics can also be very dangerous. Today there are groups, gangs and people that wait for big events and hope that they can harm others. Not only are the hundreds of thousands of people who attend the games in insecurity but the athletes can also be in danger. According to the article, Olympic Games, “The 1972 games, held in Munich, West Germany, were marked by a tragedy growing out of political conditions in the Middle East. Members of an Arab guerrilla organization killed two Israeli athletes and took nine hostages, who were later killed along with five of the guerrillas and a West German policeman in a gun battle with police at a Munich airport” Even though there is security, there are far too many people to all be checked

One of the first things that pops into your head when you think of the Olympics is the torch. Anyone who watches the Olympics just can’t possibly ignore it. It is the most weel-known thing about the Olympics. Throughout many years the Olympic Comitee has done a good jobs keeping the torch a tradition.

Sponsor cities of the Olympic Games are wasteful spenders because the cost outweighs the benefits due to excessive spending of billions of dollars used to look alluring to the IOC. The poor use of resources and facilities after the event is over, and the larger cost over profit the city makes overall in the end.

In the source The New Yorker it explains in depth information on the economic effects of the olympics This article explained in depth the corruption in contracts and other shady business deals in building contracts and other deals completed by the government attempting to save money ended up costing them more than the originally intended budget. Quoting the article “projects are rare, and construction work is erratic, so politicians with contracts to award have immense leverage. For contractors, bribery will always be attractive, because the cost of a bribe is dwarfed by the value of a contract”. This type of corruption was unfortunately very present in the preparation for games and pushed the budget well over originally intended of $12.3

Dow is an example of a company who have received negative publicity during the Olympic Games. The company has been criticized for its alleged involvement with the pesticide plant accident that killed thousands of people in India. Almost all publicity from Dow becoming one of the eleven major games sponsors has been negative, and just about every story written about Dow associates the company’s name with Bhopal, one of the world’s worst industrial disasters (MSNBC, 2012). Rights groups, athletes, and politician have spoken out against Dow and signed petitions against Dow’s participation. The company paid nearly $11 million for fabric panels to wrap around the London Olympic stadium, but to assuage public protest, Dow agreed not to put its logo on the decoration (MSNBC, 2012). In this case the publicity was negative and possibly could have been avoided had Dow not opted to join the other sponsors.

Running Head: The Increasing Costs of Olympics and The primary driving force for hosting the famed Olympic Games has always hinged on the economic impact. Ideally, the cause factor has been that the running process determines the beneficial outcome in play. According to Baade and Matheson (n.d), the prevailing perception is that a well-organized and properly run Olympics is expected to generate billions of dollars in profit. The economic incentives and other motivations such as political prestige have seen nations compete intensively for the hosting chance. The misconceptions from the economic value have seen a lot of compromise by the standards of the bidding process with significant occurrence of wrong behaviors. Due to the growing in discrepancies arising from the quest to host these games, questions on whether the Olympics are worth the extraordinary investment in praise of it. This paper purposes to evaluate the increasing cost of Olympics and the decreasing interests by countries in hosting the famed games.