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The Economics Of The Olympics
The Economics Of The Olympics
The Economics Of The Olympics
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The IOC over its history has had to balance two different spheres. One of those being its morals and ideas of "Olympism," and the other being the generation of funds to allow their programs to be financially solvent, and have a wider world impact. As the Olympic Games continue on year over year they have seen rising costs in putting on their events which in the past had led the host cities to incur substantial amounts of debt and threaten the games ability to continue. This issue has forced the International Olympic Committee to engage in commercialism, and compromise on their want to be a perfectly moral organization. Through the IOC 's Olympic charter Olympism as "a way of life based on the joy found in effort, the educational value of good …show more content…
Companies want to market with the IOC because of its wide viewership, and reputation as being morally adept, but in doing so have simultaneously tainted the vison of the IOC by making the organization seem hypocritical. Looking into some of the past scandals that have faced the IOC, errors in their decision making can be seen, and the committee as a whole must to do a better job of vetting sponsors and holding them accountable when their company’s values don’t align with those of the IOC.
Contradictions are to be expected between the IOC and their partners due mostly to the fact of their differing goals. The IOC has a mission of spreading its “Olympism” where all of its partners are primarily motivated by making a profit. Sometimes these companies even go as far to take a
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The reputation of the IOC is influenced by the reputation of its sponsors, and vice versa. By setting these standards consumers can be sure that the sponsors of the IOC are moral companies based off of their sponsorship which would add to the value of the sponsor’s brand. This solution not only promotes Olympism, but also ensures the continued economic viability of the games by allowing the IOC to be able to drop sponsors but still have a lump sum fine that will provide revenue for the IOC as they go out and secure a replacement
Since 776 BCE, the Olympics have been a way for people of different cultures to come together and compete in friendly competition. In 1892 the first modern Olympics were held in Athens, although it had been over a thousand years since the last game it still had brought together an assortment of different religions and ethnic groups together. Many factors shaping the Olympic Games reflect the changes that have taken place in our world since the last game in 393 CE in Greece such changes include woman’s suffrage, global economy, world wars, and proving competency.
In “The Real Scandal,” Sharon Begley and Martha Brant develop an argument against the tacit allowance of the use of “banned” performance-enhancing drugs among Olympic athletes. The 1999 Newsweek cover story details incidents involving individual athletes caught using banned substances, the continuous race between the discovery and detection of new performance-enhancing drugs, and examples of the International Olympic Committee’s (IOC’s) complacency. In particular, the authors question the validity of the IOC’s current drug testing policies and protocols within the context of their self-defined role to “lead the fight against doping in sport” and “encourage and support measures protecting the health of athletes” (Organization). In order to better argue against doping in sport and advocate for more efficient and rigorous drug testing, Begley and Brant employ emotional appeals, logic, and a kairotic stance within their writing to persuade their audience of the necessity of firm action by the IOC and the worldwide community on the subject of performance-enhancing drug abuse.
The Reasons Behind the Increasing Commercialism of the Olympic Games The Olympic Games is a world wide event, held once every 4 years. It is the most important event amongst the elite athletes of today. It is viewed on television by billions of people across the world, by satellite transmission (started in Tokyo in 1964). This worldwide viewing attracted sponsors as they realised that by supporting the Olympics their product would be advertised on every product sold, as they would be the 'official sponsor'. The advances in technology has played a fundamental role in the increase in commercialism, as large sums of money are put forwards for television rights over the Games from companies such as Sky, the BBC and ABC.
..., this would lead to chaos, indiscipline, a breakdown in social order and a failure in the ethics of sports. The World Anti doping Agency has joined with the medical team in order to maintain and monitor the standards deemed appropriate by the Anti doping Agencies, to promote healthy sportsmanship for all competitors.
His statement that “winning is the only thing that matters in sport”, is one of the truths that is still inherent in today’s world of sports. Athletes are willing to cheat to guarantee success, either through the use of performance-enhancing drugs, or through the act of injuring others. These days, drugs, blood doping, corruption, injuring others and the consequences of winning and more importantly losing is all evident. Lombardi’s statement is not only applicable to athletes, but it also applies to the countries that the athletes are representing. Events such as the Olympics and the World Cup of Hockey, are a source of national pride and some countries are willing, and fully wanting to try and do anything to bring prestige back, many of them resorting to unethical tactics. Lombardi’s statement does not only affect players, or athletes, it also affects coaches, owners, and managers. They too place winning as their number one concern. In many cases, fair play generally takes a back seat to the desire for winning. The truth of the matter is that, some will bend rules, while others will outright cheat. The corruptness of sports today has lead to the endless methods and desires of unethical behaviour.
Materialistic things consume today’s society, whether it is cars, clothing, or jewelry, in a sense we rely on these objects for our happiness. Companies such as Nike, Gap, and Toms, have all had major success do to their loyal customers, who seek the name brand logo of their company. These companies have continued to grow tremendously, making billions of dollars; the companies strive to find ways to outsourcing its manufacturing, in hopes of making more and more profit. Profit is not the only thing that rises, many questions and investigations have occurred, exposing the poor ethical choices these businesses have made. Nike, one of the most well- known and profitable companies have experienced this heavy scrutiny first hand. Throughout this essay the reader will gain a better understanding of Nike’s poor ethical business decisions and what actions they took in order to repair their image.
“At NIKE, we are on the offense, always. We play hard, we play to win, but we play by the rules of the game. This Code of Ethics is vitally important. It contains the rules of the game for NIKE, the rules we live by and what we stand for. Please read it. And if you've read it before, read it again. Then take some t...
As a multinational company, Puma strive to be the most desirable and sustainable sportlifestyle company in the world (Puma 2012, p. 9) and contributes in creating a more sustainable future for the generations to come (Puma 2012, p. 15). To meet these goals, the company claims that it has referred its business decisions to the four values of PUMAVision (fair, honest, positive and creative), implemented PUMAVision’s programs, which are PUMA.Safe, PUMA.Peace and PUMA.Creative, (Puma 2012, p. 10) and set its own code of ethics as well as its supplier’...
Desbordes, Michel. "Measuring Fair Play And Planning Long Term." International Journal Of Sports Marketing & Sponsorship 15.2 (2014): 77. SPORTDiscus with Full Text. Web. 17 Feb. 2014.
Phil Knight started his shoe company by selling shoes from the back of his car. As he became more successful in 1972 he branded the name Nike. In the 1980’s Nike Corporation quickly grew and established itself as a world leader in manufacturing and distributing athletic footwear and sports' attire. The Nike manufacturing model has followed is to outsource its manufacturing to developing nations in the Asia Pacific, Africa, South and Latin Americas; where labor is inexpensive. It quickly became known for its iconic “swoosh” and “Just do it” advertisements and products. Its highly successful advertising campaigns and brand developed its strong market share and consumer base. But, the road has not always been easy for Nike; in the late 1990’s they went through some challenging times when their brand become synonymous with slave wages and child labor abuses. During this period, Nike learned that it paramount that the company understands its stakeholders’ opinions and ensures their values are congruent with their stakeholders. Nike learned that their stakeholders were concerned with more than buying low cost products; their customers were also concerned with ethical and fair treatment of their workers. Because Nike was unwilling to face the ethical treatment of its employees, the company lost its loyal customers and damaged its reputation. Nike has bounced back since the late 1990’s and revived its reputation by focusing on its internal shortfalls and attacking its issues head on. Nike nearly collapsed from its missteps in the late 1990’s. They have learned from their mistakes and taken steps to quickly identify ethical issues before they become a crisis through ethics audits. This paper is based on the case study of Nike: From Sweatsh...
To say that sport and politics don’t mix is a statement which cannot be described as anything but flawed in its basis. From the material investigated, analysed and discussed, it would be wrong to say that sport and politics should be kept separate as they have been matched together and have been closely tied since the very beginning of modern sport and have continued to do so to this day. Whether it be, for example, governments using a mega-sporting event to improve a countries image and international relations or, as was mentioned, to further the country’s ‘soft power’, sport and politics are yet again intertwined. Sport has also been used as a platform to express political ideologies and has been successful in some cases highlighted in this literature review.
- 3) most significant group which included former East Germany and Soviet Union. The Gov. actively colluded in doping of its international athletes.
One may disagree that hosting Olympics is not worthwhile as it requires a city or a country to bring out an enormous sum of money for the preparation and planning of hosting the Olympics. Zimbalist (2012, pp. 116) says that the summer Games roughly generates a total of $5-$6 billion and almost half of it belongs to the International Olympic Committee. On the other hand, the cost of the games has increased roughly
The greatest athletes of all time have their names set in stone. Every year a new star comes out of the shadows and becomes the focus of global interest. Nations back their athletes financially to ensure they receive a medal. Winning gold in the Olympics Games is seen as the highest honor an athlete can achieve because of its prestigious image. The Olympics have not always been about the athletes. Nations competing have been victims of political scandals. When one country goes against another country, some people do not only view it as a fight for gold, but as a war amongst nations. Soccer fields have become battlegrounds and players, soldiers. Swimming pools turn into bloodbaths, and tennis court nets as do territorial partitions. Since the early 1900s, governments have used the Olympics to prove that their nation is superior by spending more on athletic ability, more on Olympic stadiums, and more on defeating their rivals. At times, athletes can be pushed so far that they collapse under the pressure of chasing for gold. All of the above will be discoursed from a financial, political, and historical point of view.
Introduction Today, the Olympic Games are the world's largest pageant of athletic skill and competitive spirit. They are also displays of nationalism, commerce and politics. Well-known throughout the world the games have been used to promote understanding and friendship among nations, but have also been a hotbed of political disputes and boycotts. The Olympic games started thousands of years ago and lasted over a millennium.. The symbolic power of the Games lived on after their demise, and came to life again as the modern Olympic Games being revived in the last century. Both the modern and Ancient Olympics have close similarities in there purpose and in there problems.