Writing Assignment help on : London Olympic

PESTEL analysis of London Olympics(The external environment)

Olympics is one of the major international event which features thousand athletes from around the world, and showcases various winter and summer sports. This year Olympics took place in London from 27th Julu-12th August. And with this London became the first city officially to host Olympics three times till now. As this is a mega International event it had a major impact on the host city, London.

PESTEL Analysis will give an idea about the external environmental aspects that will make the whole scenario more transparent for the better understanding of the happenings regarding London Olympic. If we see the scenario that is given to us, it is quite clear that there was some mismanagement while organizing London Olympics that resulted in such a huge loss for the restaurants and shops while the time of London Olympics. This was just opposite to the expectation of the people. To understand the reason behind this happenings, we need to go for the external analysis i.e. PESTEL analysis of London.

Political and Legal:

The London Olympics strengthen the status of the government of London as if they win the game that will show the economic strength and the developed stage of the country (Balderstone, 2001). A country is reflected by its people and people in country are reflected by their leaders, So the hosting of London Olympics showed that the leaders of London have framed such laws and legal polices in the country and have led to such economic and social developed financially that it can be a host to one of the major mega events in the world (Balderstone, 2001). This enhanced the name of the country in the world and showed that London is strong contenders to various other developed countries politically as well as legally.

Economical:

We can analyze the economic affects in to two groups:

The Hard factors which includes-the new infrastructures in London and the increase in net Gross domestic product of London

The soft factors: the new business investment area for the country as a whole and cluster development in London. Olympics games affect the economy of the country as a whole because it adds on to tourism, various job opportunities, urban development aspect etc.

London received economic benefits from sponsorships, various government helps and the various voluntary funding from different sources around the world.

It prompted the tourism of the country which then itself became a platform for the economic development of the country for London Olympics sports club and sports facilities has been made which can be used for future. As per the reports, London attracted around 300,000 foreigners and as many as 5.5 million trippers in a day. There was a considerable increase in the business of restaurants, hotels mad the hot tourist spots in London which added to the economic growth of country. There was increase in people spending ,although there is an argument that many shops had to be shut down, people were asked to travel less and work from home, which led to revenue loss but the increase in tourist growth overcome this revenue decrease.

Social impact: The social impact of the Olympics was not as much as economical and technological but it gave the inhabitants of London deeper identity and recognition to be associated with a hi-tech and world famous city of the world. It gave them a better feeling in host city and created a positive thinking of London in the eyes of its country people. Many people got employment opportunities; some homeless people were helped and provided a better and safe environment for people to reside in the city (Balderstone, 2001). The hosting city provided better economic condition for the people, a vivid life and urban development in many ways which lead to the development of the societies in London and better social life for people.

Technical growth: There was considerable rise in the social media, the high technology used in making this event a successful one. London showcased its advancement in stage designing, lighting and sound system which opened up new avenues for the other upcoming media and technological companies in London. There was a considerable growth in the media of London and its technology support was greatly appreciated.

Stakeholders interested in London success

The government of London has made a special department for the Cultural, media and sports enhancement in London. That is known as Department for culture, media and sports. They are responsible for all these activities and event in London and they are working to make it more effective and comprehensive part for the development of London in terms of sports and events management. There are various stakeholders who are associated with London Olympics and other events which happen in London, such as IOC, EDF, Lloyds TSB, Adidas and British Airways, these are the most role player stakeholders when we talk about the London sports and events sponsorship. The Olympic Delivery Authority is dedicated to develop and enhance the Olympic Park and prepare the site, and in East London, they have been given around 250,000 hectare-site that is full of waterways, that is being funded and developed by the various internal stakeholders like council tax, lottery and other governmental bodies to make a proper and effective use of the areas which are of no use or of less use for other purposes in urban areas (Chalkey, 1998). These are the various stakeholders who have a great role in the development and enhancement of the London success in terms of organizing the events like London Olympics and other huge events.

These stakeholders are continuously showing their interest for the betterment of the London success and upliftment of London in terms of organizing such kinds of huge events successfully like London Olympics. It is not an easy task to organize and complete such huge events without the help or support of the stakeholders. The stakeholder’s support is very much essential for a successful completion of event and especially if the matter is about the success of whole city like London (Essex & Brian, 2002). Not only the private bodies but the government bodies and independent bodies are also included in the list of stakeholders who all are cooperating in the success of London by organizing such a huge event successfully.

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