Saturday, August 18, 2007

IN THE NEWS, August 18th

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:

Athletes from some countries are offered financial prizes or bonuses if they win medals at the Olympic Games,whereas athletes, are not offered such incentives. is this fair? Or is this just a recognition that for many people, money is a huge motivating factor? What do you think and why?


richard said...

I do not find that is fair for other athletes to give financial prizes or bonuses at athletes that win medals from only some countries, but this is not a major concern; in general, after winning a medal, athletes sign contracts of publicity that reward them. Although these incentives, athletes will not win medals if they do not receive enough money to train correctly before going to the Olympic Games. Promises of prizes or bonuses are good for giving motivation, but do not pay the current bills. If I compare the summary of medals won by country today with the amount of money that the country has given to the athletes to train, I will unfortunately probably find that countries that have given bigger financial help have won more medals. Money is important for athletes when it come to help the training. Remuneration will come anyway with the medals.

Veronica Baig said...

Richard: Thanks for a thoughtful comment. I was surprised to learn that Canada is now giving $20,000 to gold medal winners.