Stadiums, swimming pools, courts, residential accommodation for athletes, officials and for spectators spring first to mind when most people think of the economic fall-out of a city being chosen for the Olympics. Physical assets have limits in reality, for returns cannot be achieved without qualified, skilled, experienced and motivated teams of people. The 2012 Olympics is a challenge for Human Resources Management, as much as it is a chance for civil engineers and architects to get busy! The Olympics represent an acute opportunity that comes to a city for about a week like a comet, once in decades! It nears years of careful preparation, with a full agenda for Personnel departments. Every function tends to inflate its own importance, but even those who are not full-time professionals from the Human Resources field will agree that finding and retaining people of the right caliber is going to be a major obstacle to be overcome, for any London institution to reap the rewards of their home city being selected for the 2012 Olympics. This document attempts to develop some key policies for a chosen London organization, so that it prepares for this major world event.
Every metropolis has an aquarium, and London is not lacking in this respect. The London Aquarium has an especially spectacular collection, and a central location that puts it in the path of major tour operators and individual tourists alike. It has certain appeal for all the people who will come to London to watch some part of the Olympics. The 2012 event promises to be a chance for the London Aquarium to experience a surge in revenues if it is able to gear up for the flood of visitors who will descend on London from all corners of the globe. Young people from parts of the United Kingdom other than London itself will be amongst the most prized new visitors, because many of them can become regulars as well.
The London Aquarium is privately owned, and is relatively small with an investment of about $50 million. It has a collection that spans all the oceans and major fresh water bodies from all over the globe, including a terrifying collection of real sharks! The staff includes a number of eminent specialists from relevant fields, and it depends on volunteers as well. The premises include laboratory, maintenance and catering facilities, and are available for private functions outside hours for the public. The London Aquarium is housed in the County Hall, and has many entertainment and recreation attractions in the vicinity.
The London Aquarium is a good choice to study the Human Resources Management impact of the 2012 Olympics, because the organization operates on a relatively modest scale, with specialization in technical aspects of marine biology, and with a location that is bound to be amongst the top drawers with tourists during the mega sports event. It therefore faces exciting prospects and daunting challenges at the same time.
Opportunities and Challenges
The impact of the 2012 Olympics will be not unique in the world of business. The commercial and industrial environment has undergone revolutionary changes in many fields. The task of management itself has changed (Hamel and Prahalad, 1994). The Human Resources