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;
Actors in the Micro Environment – (Armstrong, et, al, 2012)
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]
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]
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]
The surrounding public have many different perceptions of the Queen Elizabeth Olympic Park. Some perceptions are positive and some are negative.
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)
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:
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 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).