Olympic sponsorship: Evolution, challenges, and impact on the Olympic movement - Essay Example

Olympic sponsorship: Evolution, challenges, and impact on the Olympic movement EXECUTIVE SUMMARY The below mentioned point discusses the ways, in which huge amount of money gets wasted through sponsorship. As a result, the craze of the games of Olympic in the entire globe is also reducing day by day significantly. It is mainly due to mismanagement of the funds allotted for the game of Olympic by the International Olympic Committee (IOC), National Olympic Committees (NOCs) and Olympic Organising Committee (OOC).

Therefore, due to such mismanagement, the game of Olympics is becoming a game of politics. RITIQUE: 1 Mismanagement of funds- the funds presented by the committee members of IOC, OOC and NOC are not properly used. Rather, a huge amount of the fund is wasted over sponsorship so as to enhance the financial position of the Olympics and its assisting members. Due to which, the rate of advertisements or promotions required to increase the level of awareness of the general customers is becoming fader in this age.

As a result, almost maximum extents of the young generations are losing their interest over the events of Olympic, which is affecting these games adversely. Due to lack of interest or nosiness to view the events of Olympics, the fascination to purchase the tickets is also reducing at a considerable rate as compared to other events organised in state levels. As a result, the reputation and image of the international sports or Olympics is declining thereby hampering its value and trust within the minds of the target groups.

Hence, now a day, the game of international sports is taking the shape of a business rather than an event of amusement or entertainment. EXECUTIVE SUMMARY The point discussed below, mainly highlights the practices of politics present within the events of international sports. Due to which, the reputation of the games of international sports is declining significantly from the hearts of the general public. Apart from this, politics is also hampering the chances or opportunities of the experienced players thereby smashing the quality of the entire game.

As a result, the experienced and talented players are losing their hopes over these international games. CRITIQUE: 2 In this age of industrialisation and globalization, politics have extended its roots in every segment of the world and every event as well. Now a day, politics is also present within the international games of sports. Due to which, the opportunities for the low talented players are increasing sharply as compared to the experienced ones. As a result, the chances of success are also decreasing, which is quite insignificant on the part of the board members of the Olympics.

Other than this, the mental stability of the talented members is also reducing day by day thereby enhancing the rate of accidents and deaths. Moreover, the game of international sports in this age totally changed from an event of amusement for the customers to a deal of business. So, its importance within the hearts of the customers totally changed that proved quite detrimental for international sports. EXECUTIVE SUMMARY The below mentioned point described point discusses the negative impacts of broadcastings.

Due to miscommunication with the broadcasting individual, the customers residing in far off regions fail to view such events. As a result, they fail to enjoy the essence and vigour of such events, taking place in international standards. CRITIQUE: 3 Due to miscommunication with the broadcasting members, the enthusiastic customers fail to view such events. As a result, the level of awareness of the customers regarding these events also reduces significantly. And side by side, the level of knowledge and information regarding these events also fades from the minds of the target customers.

Therefore, slowly and gradually the importance of these events gets reduced thereby hindering the portfolio and image of these events (Giannoulakis & et. al, 2008, p. 256-270). Moreover, due to lack of broadcasting facilities, the young generations of many countries get disheartened and that fades the dream of accepting such events as their profession. And due to which, numerous young and enthusiastic talents get lost in the ultimate darkness of nature. SUMMARY On the basis of the above mentioned points, it might be clearly revealed that international sports are now becoming a game of politics rather than an event.

Due to which, its image and value is reducing significantly from the minds of the customers resulting in downfall of the allure of Olympics. Along with this, the profit margin and revenue attained from international sports is also declining, which is quite insignificant for the board members. So, it is extremely essential to offer higher concentration over the talents and experiences rather than political practices, in order to retain its prior reputation within the minds of the target customers.

References Giannoulakis, C. & et. al. (2008). Olympic sponsorship: evolution, challenges and impact on the Olympic Movement. International Journal of Sports Marketing & Sponsorship, p.256-270.