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  • Essay / Economic effects of the Olympic Games - 1275

    3. Literature ReviewThere is a large amount of relevant literature available regarding the short-term economic impacts of hosting the Olympic Games. There is, however, very little literature on the post-Games era and the economic development it brings to a nation. The economic impact of hosting the Olympic Games can be difficult to measure precisely. There are a number of studies that illustrate the economic impact of hosting the Olympic Games, often predicting significant economic benefits. Humphreys and Plummer (1995) state that the short-term economic impact for Atlanta, host of the 1996 Olympic Games, was estimated at $5.1 billion. A study by Andersen (1999, p. 1) stated that from 1994, when the Sydney 2000 Olympic Games were announced, the Games generated a total of $6.5 billion in additional economic activity in Australia, including $5.1 billion in New South Wales. Masterman, G. (2009, p. 104) believes that justifying the investments made when organizing a mega-event is essential for the post-games legacy of the host country and the local region. Host cities and governments may not be looking to make money just from the three weeks of the Olympics, but rather the broader benefits that this huge investment will bring to the region and the nation in the form of new business and tourism prospects as well as increased awareness. sports and facilities available. Various academics define effective project management. Berkun (2005, p. 44) states that the role of a project manager is to develop a company's requirements and transform them into appropriate specifications that will help achieve the desired outcome. A good business perspective looks at revenue potential and whether there are any unmet customer needs or wants. If these prospects are middle of paper......ablish profits and losses in certain aspects of the job. Secondary data would also be used alongside quantitative data in order to understand how successful the different Olympic Games have been.5. Ethical IssuesThe Olympic Games theme should not have too many ethical hurdles to overcome. It is important that all findings remain confidential to protect businesses. All information collected about companies must be secure and not shared unless otherwise authorized, as outlined on the Social Research Association website. Obtaining consent to conduct the interview with the organization is essential when using the results, to overcome this problem; a consent form must be completed. The information collected can be withdrawn at any time, it is essential to allow this and to have other research to exploit..