Saturday, August 5, 2006

IN THE NEWS, August 5th

Each week, there will be an overview of a business related issue that is in the news. Please post your personal responses to the news item. Bonus points for participation! Please respond to the following news item:

Some people are very cynical about the Olympic Games; they think that the Games are more about money than athletics. What do you think and why?

6 comments:

Irena said...

I believe that there is some truth to this saying. We just have to look at the cost of the building the Olympic village with its brunt new sports centers, and justifying the price of a ticket for one of these games. Just look at the Beijing Olympics and the cost of 750 dollars per ticket which is over priced for the average family. You have to ask your self what the reason for this is. Just so we can show off to the world.

Veronica Baig said...

Irena: You make some good points here. Does anyone else have other thoughts?

richard said...

I think if I look at the organizers’ side of the Olympic Games, it is true to think that money has an important issue. A country that receives the event increases its tourist activities, which at the same time brings more money in the country. At the opposite, athletes did not train all this hours only for money. In general, athletes begin their training very young and find motivation in their achievements. They train to be one of the best. Their chances of earning a lot of money after the Olympic Games are small. If athletes were training only for money, the majority had been given up before going to the Beijing Olympic Games. Consequently, only few will become famous and earn good amounts of money. Nevertheless, some realized their dream of participate at a prestigious event.

Veronica Baig said...

Richard: It's interesting to have you point out the reality from the athletes perspective; you're right, apart from a few superstars, very few of them make money.

Shanise said...

believe that this statement is an accurate description of the Olympic Games from the corporate point of view. Many organizations; including broadcasting corporations, retailers, and local governments bid for the opportunity to affiliate their brands or cities with the Olympic Games. Once granted the opportunity of being the only representatives within their industry allied with the games, they are expected to generate additional increase in their revenue profits.
Unfortunately, many individuals exploit these privileges by charging inflated prices for merchandises and services to consumers; restricting the Olympic experience to only privilege individuals.

Veronica Baig said...

Shanise: That's a useful addition. Do you think there is any way to separate the business and athletic issues? Now watch those semicolons--they separate independent clauses;-)