The UK Olympics and Business 2012 - Case Study Example

Customer’s name: Customer’s course: Supervisor Date of submission: 23rd November, 2012 UK Olympics and Business 2012 A business opportunity is any chance (how to compete and grow after recovery, 2010) that arises for someone, an organization or a company to make money. It involves anything from a franchise to a scheme of a mail order. The main aim of a business opportunity is to utilize the foreseen or unplanned chance. Majority of the people involved in the maximization of these chances are usually entrepreneurs. They have a common characteristic of risking any business avenues opportunity to gain tremendous profit or loss. They are also known to be quicker schemers and thinkers. Unfortunately, (Business opportunities, 2009) the seller lacks control over the operations of the buyer in any given business opportunity. Olympic Games occur after every four years. The events are usually international comprising of people from all walks of the world. They involve both ball games and athletics. This year’s Olympics were held in London as from 27thJuly to 12 August. The event will remain to have been an outstanding business opportunities to many person within and without UK environs. The games did make a significant impact in industry and businesses in UK; it helped in boosting the companies’ growth financially in a time when it was a trying season for many businesses. In London, as a tradition, they (LOCOG) do their business opportunities advertisement in a site known as CompeteFor. This section gives open chance to those who feel like contracting any business opening. In this year’s Olympics, this site for advertisement had the following businesses marketed: mascots design of London 2012, police dogs kenneling, catering, cleaning specialist and plant hire construction. Such persons of targets involve suppliers of all types ranging from small sizes to large sizes. It is a free service broker involving tender purchasing. It did give a chance to those who needed to participate as entrepreneurs. The site is not only open to the public sector, but also the private sector too. These organizations are involved in buying. Such sector includes metropolitan police service, Crossrail and London transport. CompeteFor by 2012 end June achieved the following: Different businesses were availed with contract opportunities of supply chain amounting to 11,700. Nationwide, there were 160,000 businesses who had registered with CompeteFor. The suppliers had been awarded contract about two billion pounds. Of the business supplier awarded via the CompeteFor, 63% went to business outside London. Although it was a challenging economic time in UK, this action led to direct employment across UK, and there was boost of economy. The medium and small businesses, which had applied for contracts, in CompeteFor suppliers were awarded the contract to 73% of them. In addition, more than 50, 000 companies did receive business support. Such support was necessitated through business link. The general economy in UK was boosted both during the preparatory and the event seasons of the Olympics 2012 London. The games in London 2012 did generate more than seven billion pounds from contract. On the other hand, new jobs in thousands and thousands were invented. Such business if it were not for the Olympics would not ever exist. There was a massive merchandise Programme and comprehensive licensing brought during (LOCOG) the London 2012 games. These businesses did make high sales along the big street of UK. In particular these procedures accrued about one billion pounds. The games did impact the industry and businesses in UK widely. Such impact was felt by suppliers and business who won the contracts to work on the games events in any form. The impact was felt in that the contracted firms had to alter their daily working pattern. The changes included the safety and health policy development, equality improvement and change in the traditional working style. The contracted firms also had to focus not only to the Olympics achievement of the standards required for contracted businesses, but also how they can venture the future with sustainability and vigor. The future move included new business inventions involving accessible design and sustainability build up during the Olympics 2012. The London 2012 games also affected the transport system. As a result, there was, therefore, a slow move and supply (LOCOG) of items to those businesses which lacked prior-proper planning. The infrastructure congestions also affected the customers flow in some areas, visitors, deliveries and employees. This impact was much felt in London where there is much road network of transport and capital’s public transport. Other areas included the neighboring areas such as Eton Dorney, Portland and Weymonth in UK. These areas were much busy than the regular seasons. Nevertheless, the firms, which had foreseen this traffic congestion in advance their businesses, did run smoothly and effectively. Those businesses, which lacked, prior proper, preparations suffered from the challenges, and they did not accrue substantial amount of benefits during the Olympic season. During the Olympics planning, a lot of procurement of equipment and materials had been made to accommodate all the Paralympic and Olympic events. The remaining materials were not left to lie behind unattended. Instead, they were disposed to earn some money in order to ensure sustainability goal is still achieved and maintained. This strategy was possible using the Go Dove. Go Dove is an agency which the Olympics 2012 authorized to sell the remaining assets after the games. This Programme contributed enormously to sustainability of the London’s Olympics as a firm. Moreover, many businesses got involved in buying the remaining assets as part of resell or make an archive. The materials being sold were all part of the event of sport which remains to be famous in world’s history. They were also of superb quality, well maintained, and those, which in one way or another had been used, were only few days utilized and, therefore, the best. Such assets of disposal included: waste disposal equipment, traffic management, security equipment, temporary accommodation, medical support equipment, equipment of electrical and power which included HVAC, cabling, UPS’s CT chambers and transformers. The Royal Institute of British Architects (RIBA) also had a chance of being shortlisted to win sterling prize of Olympic 2012. This fact followed the act (The London 2012 cultural Olympiads) of redesigning the populous Olympic stadium. This is not the first incidence; it has been happening in history with other games building of London 2012 Olympics. It is no doubt that RIBA got a whopping form of business opportunity which accrued substantial finances and as well as recognition. Nevertheless, the London 2012 games came with both trustworthy and honest characters of people as well as hypocrites and looters. Such alternate latter groups include the scam practitioners. An example is the 2012 London Olympic Promotion. This posting on different websites and social media was done by a person who claimed to be known as Mrs. Adele Cole. She declared that she was the cash officer in London’s Olympic 2012. The message of whoever won the promotion was forwarded to different persons informing them that they had won the massive cash of £1.65 million GBP prize. To collect the prize a person had to send his/her personal details indicating the number of reference as 7775/REF: L441UK. For more information the person could contact Mrs. Cole through email webboscol@thoree.net or phone no. +447035969809. Such emails had been used to steal some personal information. In addition, some ask for bank account numbers as well as password. While the persons who receive the message may take this serious it did put their business to risk. On the other hand, the scam posters achieved their objective during this 2012 Olympic as it was also a form of unhealthy business opportunity. The London 2012 ticketing team had a chance to celebrate too. The tickets (Team welcome ceremonies) were sold to those who accompanied their representative to the London 2012 Games. In addition, those who longed to attend the opening and closing ceremony of the Olympic also had to purchase a ticket. The London 2012 ceremony involved celebration of the culture of the British. All nations were also invited. In conclusion, the 2012 London Olympics (LOCOG) had a positive impact both financially and economically to the UK center as well as its surrounding towns. The Games provided both domestic and international form of tourism benefits. References How to compete and grow after recovery (March 2010). A sector approach to policy making Mckinsey & company. Business opportunities (2009): Department of business innovation and skills, London: Victoria Street The London 2012 cultural Olympiad: official london2012 website. Olympic Games 27th July-12 Aug., 2012 Team welcome ceremonies: official london2012 website. Olympic Games 27th July-12 Aug., 2012 The London Organizing Committee of the Olympic Games (LOCOG) Retrieved from www.london2012.com/traveladviceforbusiness Read More