TOWs Analysis

This is what the basic diagram of a TOWS for the Olympic Park would look like, outlined is the basic points, and below is further explanation of these points and the understanding of them.

It is stillA distillation of the findings of the internal and external audits which draws attention to the critical organisational strengths and weaknesses and the opportunities and threats facing the company(Kotler et al 2005)

Threats

Other tourist destinations in London might become more popular.

Olympic Park another part of London.

Limelight will be taken of the Olympic Park.

Opportunities

The Olympic park could easily expand.

Ability to hold future events.

Potential to hold more sporting competitions.

‘Hot spot’ for people to work and live.

Weaknesses

Doesn’t cater for every sport.

Caused disruption during construction

Park hasn’t met expectations.

Football has taken over the Olympic stadium.

Increase the range of sports held at the Park – this will increase tourism.

To make the Park more exciting, to reduce the threat of Rio de Janeiro, have other events e.g. music.

Due to the Park’s large area and a need to make it more exciting, introduce motocross events which are high adrenaline events.

By reducing the priority of football, the Park could potentially increase in interest from a wider range of people.

Strengths

The Park helps the local area and suppliers.

The Park brings in a lot of money and helps the economy.

Popular tourist destination.

The Park has become its own part of London.

Although more homes could cause less tourism, this could cause a greater economic benefit. 

 

More events to encourage more visitors = more money and park staying busy.

More events mean more suppliers and more of a boost to economy.

Because the Park area is now considered a Hot Spot for business it boost economy as well as gives park other uses.

 

 

Weaknesses to Threats

Because the olympic park has the weaknesses that it doesn’t cater to everyones sports, with this compared to the threat that there are other attractions for tourist to see which could be more important then the park, causing less tourism. A solution could be that if the Park increased the range of sports they are likely to increase their tourism because of the fact that a wider range of people would be interested in watching the games.  Secondly a weaknesses of the olympics is that some people found that it wasn’t as big and exciting as they felt it should, this with the incoming threat of the rio games, it could be an opportunity for the park to hold other events such as concerts to make the event more interesting and exciting, increasing the tourism and making rio less of a threat.

Weaknesses to Opportunities

With the Park being so large, and having 540 acres of space and a need to increase the tourism a solution could be that the Park could introduce motor cross events which is a high adrenaline event which attracts lots spectators.  A second weakness is that some people felt the park wasn’t as exciting as they wanted it to be, on top of this the park has an opportunity is that it has lots of space and can hold lots of future events. To address this weakness through an opportunity is that the park could offer a wider range of sports rather then just football, which could help to increase interest, making the park more exciting.  Rumsby, B. (2015) Olympic stadium cost rises to £702 million ahead of west ham hand over – and tax payer will pay for most of it.Available at: http://www.telegraph.co.uk/sport/football/teams/west-ham/11686581/Olympic-Stadium-cost-rises-to-702-million-ahead-of-West-Ham-hand-over-and-tax-payer-will-pay-for-most-of-it.html (Accessed: 11 February 2016) This shows that football really did take over within the Olympic Park, especially as now that prices are going up its only football that can afford it, not giving other sports opportunities.Football being the main interest benefits in some aspects as football is extremely popular, it cause drawbacks in others because not everyone loves football. Therefore if football was still looked after but other sports could have opportunities within the Park, its likely to make the park more interesting and exciting, therefore encouraging more people to visit.

Strengths to Threats

A strength of the Park is that of how much the supplier scheme helped the suppliers as well as the local area, a threat would be the increase in the homes in the park which may result in less tourism. However if more homes are to be produced, it will still help suppliers and the local area, and there will still be an economic boost, therefore less tourism may be less of an issue. Here is an article which goes into further detail about the new home being created;East village (2012) Available at: http://queenelizabetholympicpark.co.uk/the-park/homes-and-living/local-developments/east-village (Accessed: 11 February 2016).                                                                  A solution to keep tourism high and insure suppliers continue to get work, regardless of the new housing system would be if more events are added in, consumers are still likely to come and watch events regardless to whether there is homes near by as long as congestion of traffic doesn’t occur. Because the olympic park brings in lots of money and helps the economy. This is put at threat as the rio game is approaching as well as more homes being put in, however if more events are put on its likely to keep the park alive, and continue to make money, regardless of the new home and new games, because if there are interesting events on peoples doorsteps then they will always go due to the ease.

Strength to Opportunities

A strength of the Park was its help to suppliers with the drumming up of business, and an opportunity of the Park is the sheer size and ability to hold more events. Therefore if the park used its strength to pursue its opportunities  the Olympic Park could put on more events not only will it mean more visitors entering the park but it will also mean that more suppliers will be needed, this therefore will continue to help the economy as its not only helping the local area but all the suppliers involved too. The second strength of the Park is the economic growth and wealth it brings to the area, this combined with the opportunity that the Park is now considered a Hot Spot especially in the business world due to its amazing transport links to the area. This could lead to the Park being seen at a different angle and now can be a multi purpose facility because meetings, conferences, ect could actually be held in the park. Again helping to bring in more money to the area, and helping the Park to continue to thrive.

Armstrong, G., Kotler. P., Harker, M. and Brennan, R. (2012) Marketing An Introduction, Pearson, 2nd Edition

SWOT Analysis

As commonly defined, SWOT analysis is an approach to considering the inhibitors and enhancers to performance that an organisation encounters in both its internal and external environments. Strengths are enhancers to desired performance while weaknesses are inhibitors to desired performance, with both being within the control of an organisation. Opportunities are enhancers and threats are inhibitors to desired performance, though these are considered outside of an organisation’s control. (Hand Book of Human Performance Technology)

Strengths: 


It has mixed facilities and caters for a lot of people.The Olympic Park helps local and also the suppliers, through the supplier’s scheme.

It brings in a lot of money and has a huge economic benefit to the country and London in particular.

It is a popular tourist destination, for every one of all ages.

It now has its own post code and has become its own part of London, with homes and facilities for everyone.

Weaknesses:

The Olympic park doesn’t necessarily cater for everyone’s sport.

It caused a lot of disruption in the community, whilst it was being built.

Some people believe it hasn’t met expectations and that it wasn’t as big and as exciting as people first thought.

Football has taken over the Olympic stadium. For example, West Ham use the club for training and games.

Opportunities:

The area is very large, therefore the Olympic Park could expand onto more land and create new facilities and homes.

It has the ability to hold future events such as the Olympics again and other events such as concerts and football matches.

The Park pretty much has the ability to cater for any sport, but yet hasn’t done so, therefore it could expand its range of sports held at the venue. 

The Olympic park will potentially become a ‘hot spot’ for people to live and to also work, therefore creating a number of jobs for the community.

Threats:

Other Tourist destinations might become more popular in comparison to the Olympic park, such as Big Ben or the London Eye – now that the ‘buzz’ from 2012 is over.

The Parks housing is due to be finished in the near future and this might cause people to think of it as another area of London rather than a tourist destination.

The limelight will be taken off of the Olympic Park when Rio hosts the Olympics this year.

Ref List:

Pershing.A.J.(2006) ‘ The Hand Book of Human Performance Technology’  Third Edition. Pfeiffer A Wiley Imprint [Accessed 09/02/16]

Micro Environmental Factors

The Micro Environmental factors are the factors in a companies immediate environment that affect its capabilities to operate effectively. The different factors you have within the micro environment are;

The Company

Competitors

Suppliers

Publics

Intermediaries

Customers

Actors in the Micro Environment – (Armstrong, et, al, 2012)

micro

The Company

The Queen Elizabeth Olympic Park is a very different kind of company, it doesn’t just have one purpose, for instance creating a profit, and therefore this can make it much harder for individuals to understand the company as a whole. This is why the company sets out lots of strategic plans rather then just one in order to reach their aspirational goals. Because of the companies diversification the company analyses its performance through several aspects, for example it has goals under, work, visit, inspire, and deliver. Their work goal is  to retain, attract and grow a diverse range of high quality businesses and employers, and maximise employment opportunities for local people. Their visit goal is to create a diverse, unique, successful and financially sustainable visitor destination. Their inspire is to establish a 21st century district promoting cross-sector innovation, education, culture, sport, aspiration and participation in east London. Finally is the deliver which is to deliver excellent value for money, and champion new models and standards which advance the wider cause of regeneration, in line with LLDC’s core values: Ambition, Responsibility, Collaboration, Excellence, Accessibility, and Sustainability. S0 as you can see the Queen Elizabeth Park is such a wide and diverse company that its extremely difficult to understand and asses as a whole whether its successful or not. Whether the Olympic park makes money or not is again another difficult situation, it has indeed helped increase the value of the local area and huge amounts of merchandising helped to bring in large amounts of money, but on the other side it also cost millions for the park to be built, so therefor it can be very controversial to whether it does actually make profit. However what we do know is the Park is still successful several years after its completion for example, they have had more than four million visits to the Park since July 2013. On top of this thousands enjoy the park  which covers 560 acres, has 6.5km of waterways, 15 acres of woods, hedgerow and wildlife habitat and 4,300 new trees.

Queen Elizabeth Olympic Park (2015) ‘Corporate Performance’ Available at : http://queenelizabetholympicpark.co.uk/~/media/lldc/corporate%20performance%20reports/lldc_quarterly_report_q2_jul_septcmyk2.pdf [6/02/16]

Queen Elizabeth Olympic Park (2016) ‘Facts and Figures’ Available at: http://queenelizabetholympicpark.co.uk/media/facts-and-figures [7/02/16]

Competitors

Wembley Stadium– Provides similar services, hosts international events (football, rugby, World Cups)

Hosts concerts, has many conference rooms/ function rooms for parties of any kind, it
provides tours and many jobs for people nationally, can be hired out for other events.
Wembley has an international status which draws in tourists.

Twickenham– Similar services, Rugby Six Nations, executive boxes.
International, good reputation, very popular tourist venue with people travelling to see important/ popular matches, stadium tours, conferences and events, has its own store.

The Olympic park still has some of the best, good quality and popular sports facilities in the UK with sports teams and tourists travelling just to use them (regularly or just for the experience) e.g. the velodrome, the rowing lake, swimming pool.  There are 112 other stadiums just in the UK, some more renowned than others. Once the Rio Olympics are over, people may want to visit the most recent Olympic venue meaning the UK tourist numbers may decrease and Britons may use the trip to Rio as a holiday.

England Rugby (2016) ‘Twickenham Stadium’ Available at : http://www.englandrugby.com/twickenham/ [05/02/16]

The FA (2016) ‘Wembley’ Available at: http://www.wembleystadium.com/ [05/02/16]

Suppliers

The Supplier Recognition Scheme, a joint effort from the British Olympic Association and the Department for Culture, Media and Sport, aims to support businesses in securing new contracts on the back of their successful efforts in delivering the Games.

To date, 780 companies have been awarded licenses, with 60 per cent securing new business as a direct result of their work and a third going on to be involved in other major sporting events.

Expedition Engineering are the business behind the design services for the velodrome and BMX track and company director Andrew Weir says the scheme has been a huge help in allowing small firms to prosper.

“It’s great that we can talk about it and show the work,” he said. “We’re a small company and a relatively young one too and the velodrome has been the main piece of work we’ve been able to promote in the last few weeks so that’s massive for us.

“For a small company this kind of scheme is really important.”

The scheme is a first for the Olympic movement and suppliers are granted specific designation to access over 4,000 images of the Olympic Park to help promote their work in the UK and overseas.

Basically – there is a scheme in place that allows suppliers to use photos of the park to promote the work and efforts they put in to make London 2012 happen, this then allows them to expand their business!

Team GB (2014) ‘Supplier Recognition Scheme doing wonders in Olympic Park’ Available at: https://www.teamgb.com/news/supplier-recognition-scheme-doing-wonders-olympic-park [02/02/16]

 Publics

The surrounding public have many different perceptions of the Queen Elizabeth Olympic Park. Some perceptions are positive and some are negative.

Positive:

By 2030, the park will be home to more than 10,000 new households. These will be among the first to live in the new E20 postcode.

Plans from the Queen Elizabeth Olympic Park will see five new neighbourhoods, planned around green spaces and squares, built to be lasting homes for those who live in them.

They will include contemporary homes, taking lessons from London’s traditional Georgian and Victorian squares and terraces, looking out over parklands and waterways.

Around a third of the properties will be affordable housing, with many of them built for long-term rent as well as to buy.

Each neighbourhood will provide play areas, schools, nurseries, community spaces, health centre and shops, with places to relax, play and exercise, all within easy walking distance.    

With some of the best transport links in the city, including a link to Crossrail by 2019, the Queen Elizabeth Olympic Park will be one of the most desirable residential locations in London.

The five new developments, Chobham Manor, East Wick, Sweetwater, Marshgate Wharf and Pudding Mill, will also be accompanied by the improvement of local developments and existing communities.

(Queen Elizabeth Olympic Park, 2016)

Negative:

A number of housing estates were demolished in order to make way for the Queen Elizabeth Olympic Park. This evidently disgruntled the people who either lived in or rented those properties.

The following is an example of how the Queen Elizabeth Olympic Park has changed someone’s life for the worse and has left them struggling to live sufficiently:

shane     Jullian Cheyne in his new accommodation.

The Clays Lane housing estate in east London used to be home to up to 450 tenants – until it was compulsorily purchased in the summer of 2007 to make way for the site of the 2012 Olympics. Julian Cheyne, a tenant on the estate since 1991, was vociferously opposed to his eviction.

He now lives in temporary accommodation and says that he and his ex-neighbours are struggling to make ends meet.  Cheyne commented “Our community was shattered. It fell apart very rapidly once this started, as people were concerned about finding a place to go”. 

(The Guardian Newspaper, 2008)

Queen Elizabeth Olympic Park (2016), Homes and Living, Available from: http://queenelizabetholympicpark.co.uk/the-park/homes-and-living [Accessed 5 February 2016]

The Guardian Newspaper (2008), Displaced by London’s Olympics, Available from: http://www.theguardian.com/uk/2008/jun/02/olympics2012 [Accessed 5 February 2016]

Intermediaries

Intermediaries are businesses houses or individuals that help the company in promoting, selling and distributing the goods to customers. They are middle men, distributing agencies, market service agencies and financial institutions. Therefore within the Queen Elizabeth Olympic Park the middle  man included the athletes themselves who competed in the games as they helped promote and entice people to come and watch the games and use the parks facilities. On top of this we have Team GB itself which at the time and even now holds smaller events and trails at the park, all of which helps to keep the park alive. McDonalds and Coca Cola were some of their highest sponsors investing around $200 between them, making them one of there strongest intermediaries. The reason for this is that it allowed them to be the official restaurant of the olympic 2012 games. Heres a little video to give you some idea on its size.

The Queen Elizabeth Olympic park is open to many customers such as those who are fitness orientated with an interest in sport, due to the facilities on offer at the park. The park also attracts those interested in the arts and culture to come and explore the rich variety of architecture that adorn the park, combined with the regular music performances and art exhibitions hosted within the site. Families visit the park to take in the sites of the Olympics and the surrounding area and also as a springboard into sport. The park also attracts local schools and has been described as ‘London’s newest outdoor classroom’ due to the GO! network. Football fans are soon set to be flocking to the park following the news that West Ham will take ownership of the stadium from the 2016/17 season onwards, giving a further nuance to the customer base provided for by the Olympic park.

Families (2012) Available at: http://queenelizabetholympicpark.co.uk/the-park/things-to-do/families (Accessed: 7 February 2016).

The Macro environmental factors.

Today we will discuss the Macro environmental factors that effect the Queen Elizabeth Olympic Park.

Within the Macro environment there are several sections;

  1. Demographic
  2. Economical
  3. Natural
  4. Technological
  5. Political
  6. Cultural

Demographic -The Queen Elizabeth Olympic Park wanted to make sure they helped the people local to the area socially, economically and environmentally. The company feel the community engagement is key to achieving the legacy corporates key three strategic aims.  The olympic Park changed the way the London looked, firstly  there are eight venues which make up the park, all of which has a secure legacy for the future population. These are: ArcelorMittal Orbit, Copper Box Arena, East Village, Here East, Lee Valley Hockey and Tennis Centre, Lee Valley VeloPark, London Aquatics Centre and the Stadium. On top of this  the park has its own neighbourhood, Chobham Manor, which residents moved into in late 2015. This neighbourhood consists of up to 850 homes, 75% of these homes will be family based consisting of three or more bedrooms. Queen Elizabeth Olympic Park, (2016), Facts and Figures’ Available at : http://queenelizabetholympicpark.co.uk/media/facts-and-figures [01/02/06] 

Economic – During its time the London 2012 Olympic Games entertained the world, the economic benefits are set to be felt in the host country for many years to come. In July 2013, the British government announced that the UK economy has seen a £9.9 billion trade and investment boost and investment from hosting the games, just one year into a four-year programme of activities and events aimed at capitalizing on London’s Olympic success. In total, more than 46,000 people worked on the Olympic Park and Olympic Village – 10% of whom were previously unemployed. At the peak of the games, around 39 percent of people directly employed by LOCOG were unemployed prior to their involvement in the Games. Tourists that flocked to the London 2012 Olympic Games thoroughly helped increase the British economy, with figures released from the Office of National Statistics showing that the 590,000 people who visited the city for the games, or attended a ticketed event (ONS, 2012), spent an average of £1,290 during their visit, compared with £650 by other visitors. The Olympic Games (2013), The Official Website of the Olympic Movement, Available from: http://www.olympic.org/news/london-2012-to-provide-long-lasting-economic-benefits/207219, [Accessed: 28/01/2016]The Office for National Statistics (2012), London 2012 Games attract over half a million overseas visitors in July and August, Available from: http://www.ons.gov.uk/ons/rel/mro/news-release/london-2012-games-attract-over-half-a-million-overseas-visitors-in-july-and-august/ottnr111012.html, [Accessed: 28/01/2016]

Natural –  The venues and facilities across the park use the latest green technologies and low carbon design. Meaning they use less energy to stay warm and have a much lower over all environmental impact then typical buildings. Sustainability (2012) Available at: http://queenelizabetholympicpark.co.uk/our-story/transforming-east-london/sustainability (Accessed: 1 February 2016) The site itself also surrounded in 4 large trail paths over 560 acres which is home to all sorts of wildlife. Queen ELizabeth Olympic Park (2016) ‘Trails and Tours’ Available at : http://queenelizabetholympicpark.co.uk/the-park/plan-your-visit/trails-and-tours [ 01/02/16]

Technological – The Olympic Park was a brand new development, and with new developments comes all the new technology widely available to the UK. One of the latest tech used was for track events at London 2012, the starting pistol was electronic and integrated with a quantum timing system which enabled timing of races to be calculated to the nearest one thousandth of a second.  Technology and the Olympics use of IT in the London 2012 Olympics (2012) Available at: http://www.ocr.org.uk/Images/77532-ibytes-support-update-issue-05.pdf (Accessed: 1 February 2016).

‘Political definition’…… The olympic park effected a lot of people and this uproar and upset lead the company and the government feeling that policies needed to be put in place to help the people, the area and the environment. The four main policies that were put in place were Championing equalities and inclusion, ensuring high quality design, ensuring environmental sustainability. Within these main policies are other smaller policies strategies and standards. Publication scheme (2013) Available at: http://queenelizabetholympicpark.co.uk/our-story/the-legacy-corporation/good-governance/publication-scheme (Accessed: 1 February 2016).

Cultural – The Olympic Park caused controversy within the local people surround the Park. Homes were lost, but new ones were made, taxes increased but then so did tourism. The first main benefits were that houses in East London within the Olympic postcode increased in value in 2013 by around £92,000(since 2005).  This is Money, (2013) ‘East Olympic’s Gold Run’ Available at : http://www.thisismoney.co.uk/money/mortgageshome/article-2379016/Residents-Olympic-postcodes-seen-house-prices-rise-92-000-Games-awarded.html [01.02.16]     On top of that the number of foreign tourists visiting London surged by 20 per cent in 2012 to a new record – making it the world’s most popular destination. Evening Standard, (2014) ‘It’s official: London is the most popular destination for tourists in the world’ Available at : http://www.standard.co.uk/news/london/its-official-london-is-the-most-popular-destination-for-tourists-in-the-world-9063988.html [01/02/16]. So you see the olympics did indeed help lots of people, however on the other hand it also cause havoc for a lot of other, for instance the Clays Lane housing estate in east London use to be homed up to 450 tenants until it was compulsorily purchased in the summer of 2007 to make way for the sight of the 2012 olympics. So now some people have been forced to live in temporary accommodation until they can find another place.Displaced by London’s Olympics (2008) Available at: http://www.theguardian.com/uk/2008/jun/02/olympics2012 (Accessed: 1 February 2016).

So you see the Queen Elizabeth Olympic Park effected thousands in both good and bad ways, it marks a now historical event in which Britain stood tall and stood strong. We hope you enjoyed our second post.

Peace Out from the squad!

 

1st Post and a little background knowledge

Hi and welcome to our fist blog post, over the next few weeks we will be uploading new posts about the Queen Elizabeth Olympic Park.

Behind the scenes of this blog we have five students of Hartpury University currently studying Sport Business Management. Within our team we have : Holly, Lucy, Tom, Chloe and Poppy.

For our first post we thought we would give you guys some back ground knowledge on Queen Elizabeth Olympic Park.

olympicparkmap 2

Mapping London (2012) The Olympic Park, Available from: http://mappinglondon.co.uk/2012/the-olympic-park-new-names-new-map/ [Accessed 31 January 2016]

Facts and Figures

  • More than 4 million people have visited the park since July 2013
  • The park covers over 560 acres
  • There are 4 themed walking trails
  • 26 permanent artworks in the Park
  • More than 5000 people worked on the park during its transformation
  • 15,000 jobs expected
  • Planning permission granted for 6800 homes at the park

Queen Elizabeth Olympic Park (2016) Facts and Figures – The Park in Numbers, Available from: http://queenelizabetholympicpark.co.uk/media/facts-and-figures [Accessed 31 January 2016]

Evidently the park is a venue that does so much more than simply benefit the London 2012 Olympics

Watch this video for a little bit more information on what it is that makes the Queen Elizabeth Olympic Park such an amazing place.

Queen Elizabeth Olympic Park (2015). Discover Queen Elizabeth Olympic Park this summer. YouTube [Video]. 20 May. Available from: https://www.youtube.com/watch?v=bO4LNdvoVlY [Accessed 31 January 2016]

Stay tuned for our next post which will be about the macro environment, shortly followed by the micro environment.

Peace out!