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Economic Impact on the London 2012 Olympic Games

2011

Economic Impact on the London 2012 Olympic Games

2011

Table of Contents
1. Executive Summary…………………………………………………3 2. Introduction …………………………………………………………4 3. Analyze the economic environment of London 2012
Olympic Games-PESTLE Analyze………………………………..5 4.1 Political Factors………………………………………………...5 4.2 Economic Factors………………………………………………6 4.3 Social Factors…………………………………………………...7 4.4 Technological Factors………………………………………….7 4.5 Legal Factors …………………………………………………..8 4.6 Environmental Factors………………………………………...8 4. Analyze the economic impact on London 2012Olympic Games….9 5.7 Globalization……………………………………………………9 5.8 GDP…………………………………………………………….10 5.9 Demand and Supply…………………………………………..11 5. Co-opetition…………………………………………………………12 6.10 The Definition of Co-opetition………………………………...12 6.11 Compare between competition and cooperation……………..13 5.2.1Game theory and Competition…………………………....13 5.2.2 Cooperation……………………………………………..…14 6.12 Co-opetition relationship …………………………………….15 6. Conclusion …………………………………………………….……16 1. Executive Summary

The main objectives of this assignment were to evaluate the impact of the economic environment on London 2012 Olympic Games and analyze the possible application of the concepts and the theory of co-opetition on the London 2012 Olympic Games. The assignment was completed through the collection of secondary data, academic books and journal articles. Through the method of PESTLE analysis, the recent economic environment on London 2012 Olympic Games can be analyzed. In addition, some economic concepts used in analyzing the economic impact on London 2012 Olympic Games can show out the detailed benefits that come from the Olympic Games. And the analyze of co-opetition gave the clear orientation in achieving the objectives in 2012 Olympic Games. It was concluded that through the evaluation of the economic impact and economic environment with some methods, we can get actual information about the Olympic Games and then have a rational and objective attitude on the London 2012 Olympic Games.

2. Introduction
Olympic Games has a history of 1200 years, it is held every four years. Today, Olympic Games has become an integrated, sustainable and worldwide activity that has a combination of sports, culture and education. And also it is the reflection culture communication and it has reflected well in every Olympic Games. In 2005, London got the right of hosting the 2012 Olympic Games, this is the third time that London hold the Olympic Games and London is the city that held the Olympic Games with the most times. But the impacts that produced by Olympic Games must be different even in a same city. The temporal economic environment plays the most important role to the Olympic Games, and then with the different situations, the economic impacts from Olympic Games must have specific features and owns different effects. London 2012 Olympic Games are in a complicated economic environment because of the economic downturn, so there are many opportunities and challenges for the city’s development in every field. Olympic Games is a big event that can bring great changes to many related place and at the same time, many hidden soft ribs may come put to facing challenges.

3. Analyze the economic environment of London 2012 Olympic Games-PESTLE Analyse PESTLE analysis model is also known as an effective tool to analyze the macroeconomic environment that not only analyze the external environment but also identify all the forces that have shocking functions on organizations. PESTLE analysis includes political, economic, social, technological, legal and environmental factors. 3.1 Political factors

The political factors usually can be local, national and international. Many governments or organizations can be involved....
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