Critically analyse the direct, indirect and induced economic impact of the Rugby World Cup 2015 for England - Free Essay Example

Introduction Despite widespread publication of a positive economic impact resulting from the Rugby World Cup in 2015, issues such as overspending, forecasting accuracy, and the focus of the reporting itself, suggests there are also factors which may materially reduce the overall impact. Because of this, it is possible the widely publicised outlook for this event is overly optimistic. This report will critically analyse the direct, indirect and induced economic impact of the Rugby World Cup 2015 for England. Beginning with a summary of the economic impact, issues will then be examined with reference to the stated impacts, relevant literature, and comparable events around the world such as previous Rugby World Cups. The analysis concludes that the economic impact of the 2015 Rugby World Cup, while sizeable, may not be as significant as predicted. Summary of Economic Impacts A report by Ernst Young forecasts a number of economic benefits to the 2015 Rugby World Cup, including over $2 million in economic output, and a direct boost to GDP of $463 million (Arnold and Grice, 2015; summarised in Table 1). Media promoting these benefits is widespread, with the Ernst Young report often cited to describe and support the positive impacts of the 2015 Rugby World Cup. The many media examples include Bergson (2015), Menary (2015), and Wilson (2015). Due to the credibility of the financial services firm Ernst Young (Aubin, 2012), as well as the wide-spread publication of these results, the economic impact by Arnold and Grice (2015) will be used as the basis for this analysis, as summarised in Table 1. Contribution Type Impact Category Impact Source Amount (millions) Output Direct Visitor spend Ticket revenue (international) Infrastructure investment Fanzone spend Stadia spend $869 $68 $85 $5 $13 Indirect and induced $1,165 GDP Direct Visitor spend Ticket revenue (international) Infrastructure investment Fanzone spend Stadia contribution $391 $29 $35 $2 $6 Indirect and induced $518 Table 1. Summarised from Arnold and Grice (2015, pp18-20) For the purpose of this analysis, direct impact is considered to be initial spending stimulus arising from the event, including infrastructure expenditure and ticket revenue. Indirect economic impacts result from transactions that occur as a result of the initial spending, such as additional tourism expenditure in other areas. Induced impacts are the result of increased consumer spending due to higher income, such as greater support for sports and health overall. These definitions are outlined by Saayman and Saayman (2012, p223) and are consistent with the examples provided in the report by Arnold and Grice (2015). Support and improvements for the Forecasted Economic Impact Financial Stimulus The publicity of a major sporting event is said to improve the local brand overall, resulting in additional foreign investment, including business and tourism. While arguably temporary, this publicity can stimulate activity during a time of economic slowdown, which in turn creates indirect economic impacts such as increased demand for manufacturing, and induced effects such as higher overall employment, in particular in the hospitality industry (Arnold and Grice, 2015; Statistics New Zealand, 2012). While purely financial transactions are not included as part of GDP increases (McConnell et. al, 2010), some GDP growth may occur on the back of a strong financial market, driven by the Rugby World Cup. Increased publicity for the host country, coupled with high consumer excitement and mass sponsorship exposure may explain why share prices tend to improve during mass sporting events. For example, during the 2013 Wimbledon, the 10 largest listed companies in Scotland experienced a 7.5% increase in share price, while the FTSE100 increased by 5.1% (Thanapathy, 2015). In addition, the first trading week following the announcement of a significant sponsorship agreement saw sponsoring companies in the U.S.A. experience significant share price gains (Harrow and Swatek, 2011). While not mentioned in the report by Arnold and Grice (2015), an induced economic impact to the Rugby World Cup may be increasing investment in additional goods and services, as business confidence increases due to the strong financial market. The Multiplier Effect and Social Good An additional contributor to GDP and output is the result of the multiplier effect, that is, the increase in investment bringing about a disproportionate increase in GDP via spending and re-spending (Saayman and Saayman, 2012; McConnell et. al, 2010). The multiplier effect during an event such as the Rugby World Cup is likely to be significant, not only through increased consumer and business spending, but in areas such as an increased interest in sports, which in turn encourages a higher focus on public health overall. The social benefits of large sporting events are evident in the Comrades Marathon, where induced economic impacts included the benefits of increased income and spending reaching the poor. Saayman and Saayman (2012) note that their findings regarding the social benefits of the Comrades Marathon are consistent with broader literature, which also finds the economic impact of large scale sporting events reaches both rich and poor. Thus the direct impact of increased output and income generated by the Rugby World Cup is likely to increase GDP more than the initial investment, creating indirect and induced impacts via the multiplier effect. Including both Domestic and International spend When measuring economic impact, Arnold and Grice (2015) exclude domestic spend on sporting events because, it is argued, this money would remain in the economy regardless, being spent elsewhere if not on the Rugby World Cup. However, domestic spend may also be relevant as this recreational income could easily be spent in a different economy, were it not for this event (Saayman and Saayman, 2012). Given the proximity of England to European destinations, and the cultural relevance of Soccer in England and Europe (Gibbons, 2014), it is likely that English income would be spent in other countries if the Rugby World Cup was held elsewhere either to another destination for a holiday, or to the country hosting the World Cup. During the 2011 Rugby World Cup in New Zealand, the second most popular tourist origin was direct from the U.K.; a significant number of additional sports tourists from the U.K. arrived via Australia (Statistics New Zealand, 2011). Thus both domestic and internati onal expenditure on the Rugby World Cup 2015 is significant. Amending visitor and ticket revenue, and revenue derived from food and beverages, to include domestic consumers may be more accurate than focusing solely on additional international income. New Zealand, for example, note an increase in domestic household spending during the Rugby World Cup 2011, driven primarily by food and beverage, in addition to international spend (Statistics New Zealand, 2011). Similar to the Canadian analysis of Sports Tourism, domestic income may be included on a separate line for clarity and completeness (The Outspan Group Inc, 2009). While this may serve to increase forecasted output by increasing overall predicted spend, as discussed under Forecasting Ticket Sales, it is also possible that international spend reduces the economic impact of domestic expenditure in some areas, as the two may net each other out. Limitations and Challenges to the Forecasted Economic Impact The tendency to over-estimate Historically, the economic impacts of sporting events have been overestimated by host countries (Leeds and Von Allmen, 2008; Horrow and Swatek, 2011). For example, the economic impact of the 2002 World Cup fell significantly short of the estimated $31 billion (Leeds and Von Allmen, 2008). While GDP and consumption was affected during the 2011 Rugby World Cup, New Zealand reports that it did not contribute to the New Zealand economy, as measured in the BoP and national accounts (Statistics New Zealand, 2011). The Super Bowl XL publicised an economic impact of $300million on the back of sports tourism exceeding expectations, however figures later released by the Michigan Department of Treasury suggest the actual economic impact was negligible (Horrow and Swatek, 2011). It is thus highly possible that the economic impact for England has been similarly over-estimated. Economic Impact Intention As a general rule, economic impact reports measure total, as opposed to net, activity or income (Saayman and Saayman, 2012), and for this reason may appear overly positive compared to more balanced analyses, such as cost-benefit, where expenditure as well as income is considered. While economic impact is sometimes defined as net benefit (Crompton, 2006 in Saayman and Saayman, 2012), the more widely accepted definition is monetary payments as they move through a regional economy for the purpose of measuring the impact of an event as it relates to that economy (Tyrrrell and Johnston, 2006, p3). While omitting additional costs is technically correct, it can seem misleading in journal articles written for the general public, who may be unaware of these definitions. The article by Menary (2015), for example, presents an unrealistically optimistic view of the financial viability of the Rugby World Cup, as the public is only made aware of gains. Direct economic impacts, such as the $68 million in ticket revenue noted in the report by Arnold and Grice (2015) may return a far lower figure once additional costs such as administration have been taken into account. It is possible that GDP and output will increase by the stated amounts, however for a complete picture, more than the standard economic impact should be considered. Forecasting: Ticket Sales as Incremental Income It is possible that locals would attend the Rugby World Cup in place of tourists, were it not for the influx of football fans (Leeds and Von Allmen, 2008, p233) a possibility that nets out the impact of international spend on tickets to some degree, since the international income is replacing local income not adding to it. Further understanding local activity the propensity to travel and attend local events is therefore vital in understanding the true economic impact of international spending during the Rugby World Cup in 2015. As noted by Saayman and Saayman (2012, p232): in order to increase the economic benefit of the event, expanding both these markets might be worthwhile. Further, one way Arnold and Grice (2015, p8) forecast ticket revenue and consumer interest is by measuring the historic percentage of seats filled during World Cup Events. While these percentages have hovered around 95% for the past two events, it is not known how many of these tickets were paid for, g iven away, or scalped. In the 2000 Olympics, for example, questions were raised regarding the distribution of tickets to sponsors and hospitality companies, while in the 2012 Summer Olympics, London began distributing free tickets to fill stadiums during events (Freid et. al., 2013). Predicting public interest is not as simple as measuring seats filled, and it is possible that increased output as a result of tickets sales is overstated. Timeframe: Impact of one-off vs repetitive events A number of impact drivers for the 2015 Rugby World Cup are short-term, which may help explain why the estimated benefits, in particular the induced benefits and assumptions regarding the multiplier effect, may be overstated. While regular, local events use existing infrastructure, require lower levels of investment, and have ongoing effects (Higham in Ritchie and Adair, 2004, p135), it is possible that larger events experience more temporary economic impacts, as the related investment is for a unique, rather than an ongoing, event. In Japan, for example, Saitama currently spends nearly $4 million per year maintaining a stadium built to host the 2002 Rugby World Cup, despite the venue now only drawing around 20,000 spectators for local sporting events (Leeds and Von Allmen, 2008). In the U.S.A., an abundance of abandoned and crumbling sports places exist, many less than 20 years old (Horrow and Swatek, 2011, p3). As noted above under The Tendency to Overestimate, New Zealand exp erienced increased economic activity during the Rugby World Cup in 2011; however the long term impact was not as significant (Statistics New Zealand, 2011). When measuring the economic impact in England, Arnold and Grice (2015, p11) refer to an induced economic impact of further investment on the back of a lasting legacy for the sport. In addition, infrastructure investment is listed as the second most influential direct economic impact. However, given the results in New Zealand, the U.S.A., Japan and Korea, and the nature of large, relatively infrequent sporting events, it is possible these benefits have been overstated, particularly in the long term. Conclusion In conclusion, it is likely the economic impact of the 2015 Rugby World Cup, as outlined by Arnold and Grice (2015), is a good overview. Increased economic activity leads to direct impacts including increased output and GDP driven by higher foreign and corporate investment, such as sports tourism and corporate branding respectively. Indirect impacts include high intermediary activity, including increases in the hospitality industry and spend on food and beverages, while induced benefits are as far reaching as social support driven by higher consumer income and the multiplier effect. While these impacts are positive, it is believed the magnitude of the results have been exaggerated, due to limitations including the tendency of host countries to overestimate the impact of sporting events, and the temporary effects of short-term events even those as large as the Rugby World Cup. Further, due to the scope of an economic impact statement, many costs have gone unmentioned, creating a disproportionate impression of gains and optimism. References Aubin, D., 2012, Ernsts revenues rise 6.7 percent on advisory growth, Reuters, Available through https://www.reuters.com/article/2012/10/01/us-ernst-revenues-idUSBRE8901GS20121001 Bergson, Z. 2015, Sports and Money: Economic Impact of the Rugby World Cup, National Centre for Business Journalism, Sept 14 2015, Available through https://businessjournalism.org/2015/09/sports-and-money-economic-impact-of-the-rugby-world-cup Arnold, P. and Grice, M., 2015, The Economic Impact of the Rugby World Cup 2015, Ernst Young, Available through https://www.ey.com/Publication/vwLUAssets/EY-rugby-world-cup-final-report/$FILE/EY-rugby-world-cup-final-report.pdf Freid, G., DeSchriver, T. and Mondello, M., 2013, Sports Finance, 3rd Ed., U.S.A.: Human Kinetics Harrow. R, and Swatek, K., 2011, Beyond the Scoreboard, U.S.A.: Human Kinetics Gibbons, T., 2014, English National Identity and Football Fan Culture, Surrey: Ashgate Publishing Ltd. Leeds, M. and Von Allmen, P., 2008, The Econo mics of Sports, 3rd ed., Boston: Pearson McConnell, C, Brue, S, Flynn, S. and Barbiero, T., 2010, Macroeconomics, 12th ed., Canada: McGraw Hill Ryerson Menary, S. 2015, Rugby to prove lucrative game as World Cup kicks off, The National: Business, Sept 17 2015, Available through https://www.thenational.ae/business/economy/rugby-to-prove-lucrative-game-as-world-cup-kicks-off Outspan Group Inc, The., 2009, The Economic Impacts of Cultural and Sport Tourism in Canada 2007, Amherst Island: The Outspan Group Inc. Ritchie, B. and Adair D. (eds)., 2004, Sport Tourism: Interrelationships, Impacts and Issues, U.K.: Channel View Publications Saayman, M. and Saayman, A., 2012, The Economic Impact of the Comrades Marathon, International Journal of Event and Festival Management, Vol3 (3), 05 Oct 2012, pp220-235 Statistics New Zealand, 2011, Impact of the Rugby World Cup in New Zealands macro-economic statistics, Statistics New Zealand, Available through https://www.stats.govt.nz /browse_for_stats/economic_indicators/NationalAccounts/impact-of-rugby-world-cup.aspx Thanapathy, S. 2015, Off the Pitch: The winners and losers of the Rugby World cup, Australian Times: Sport, 25 Sept 2015, Available through https://www.australiantimes.co.uk/off-the-pitch-the-winners-and-losers-of-the-rugby-world-cup Tyrrell, J. and Johnston, R., 2006, The Economic Impact of Tourism, Journal of Travel Research, Vol. 45, Aug 1 2006, Available through Deep Dyve at https://www.deepdyve.com/lp/sage/the-economic-impacts-of-tourism-a-special-issue-RCkCF7L8ja?articleList=%2F Wilson, B. 2015, Rugby World Cup a global game changer, says RFUs Ritchie, BBC News: Business, 24 Sept 2015, Available through https://www.bbc.com/news/business-34130763

Life, Death, and Laws of Life Essay Topics

Life, Death, and Laws of Life Essay Topics An individual can also spend the advantage of visualization of information by using charts prepared by Excel on the grounds of input data. On the flip side, while it's Legos or Life, a comprehensive teardown and rebuild isn't always essential. As with any other spreadsheet program, additionally, it employs an assortment of cells that are organized in the types of rows and columns. Hire us and forget about all of the legal jargon and grammar rules that you want to follow in making a brilliant law essay. Rules are instructions a guide to assist you accomplish something. You also may be interested in business law essay topics. The company law for a subject can be classified among the toughest types of essay writing ever handled in the current education curriculum. Finding Laws of Life Essay Topics on the Web If you are attempting to increase your writing by yourself, without asking someone write my law essay for me, there is very little you're able to do. If something goes wrong, there is not anything that may block you from getting your money back. Regardless of what time it was. There are those inevitable times however that the ideal lawyer and the very best run of luck are just inadequate to get you from a criminal conviction. Very good luck to it and in case you have questions, comments, suggestions or would just like to inform me I suck then don't hesitate to send me a message. By means of this essay on law, you can offer the reader an exhaustive analysis of a specific subject with the assistance of the evidences. Our company has a distinctive button where it directs the user to the sort of law essay topic an individual might wish to read. In order to discover an impressive argumentative essay topic you should receive acquainted with elements of the subject issue. Since there is usually a counter argument for every single act inside this time, it wouldn't be as complicated to find a strong outline and finish to your paper. You should also pick a debate you know you can win! The point is that you could take your law of life essay topics only when you're fully happy with the content. The point of forced time is to create your competition and rivals hurry to create mistakes. Up in Arms About Laws of Life Essay Topics? For this reason, you cannot write an ideal law essays without developing the analyzing skills so that it is possible to understand what the huge picture is and what's the instructor expecting from you. There are a few awesome individuals changing the world through rule-breaking ideas today. These young men I would like to use to set example are people who always want any girl that pass their way. A complete illustration of forcing time in today's era. With a little zeal and hard work, you are certain to think of an impressive unlawful justice essay. Becoming in a position to compose a strong argument can help you succeed in society. A one sided conclusion-the goal of this paper is to demonstrate the strength of your viewpoint. What's required is a truly simple, overarching perspective. It is the job of everyone to understand the Law guiding his society in spite of the course studied by the individual. One of the greatest strategies to change anybody's mind is with an emotional investment. An individual who is not a parent can obviously not exercise those distinctive rights. The Nuiances of Laws of Life Essay Topics Law Essay Profy can help you. Rules aren't static they evolve. Private Law really isn't the very same with public Law. In the same manner, Constitutions Law isn't the exact same with criminal Law, though they're all Law.

An Introduction to Using Gerunds Examples and Prepositions

A gerund is  a verb  that typically functions as a noun  or as the direct object of another verb. Generally speaking,  creating a gerund  is as easy as adding ing to the base form of the verb. There are some exceptions, however.   For one-syllable verbs ending with a consonant: Double the final consonant before adding ing. For example: dig/digging,   put/putting, plan/planning. For words longer than one syllable, there is usually no need to double the final consonant. (Exception: begin - beginning).For verbs ending in e: Drop the vowel before add ing. For example: write/writing, take/taking, bake/baking.For verbs ending in ie: Replace the vowels with y before adding ing. For example: die/dying, lie/lying. Subject When acting as a noun, a gerund often is at the  beginning of a sentence. For example: Playing tennis takes lots of physical and mental skill. Going to church is an important part of many peoples lives. Thinking about vacation makes me happy! Object of a Verb Many verbs often combine with a second verb in the gerund form. The second verb in the gerund is the object of the verb. Mary enjoys watching TV late at night. Alan admits cheating on the last test. Susan imagines having children later in her life. There are  many verbs  that are always followed by the gerund form. Here are some of the most important: admitadviseavoidconsiderdelaydenydiscussenjoyfinishkeeppostponerecommendregretrisksuggesttolerate Phrasal Verbs Gerunds are used with  phrasal verbs  that end in prepositions. Phrasal verbs are verb phrases which are made up of two or more words, generally the verb plus one or two prepositions. Here are some of the most common: bring aboutcall offcheck intocut outfigure outget overlook intoput offtake over Examples: The coach called off practicing for the day. Tom looked into finding a new job. She took a long time to get over losing her dog. Adjectives Gerunds also follow common  adjective/preposition  combinations. Remember that prepositions are always followed by the gerund form. Here are some of the most common: accustomed toafraid ofbored withconcerned aboutconvinced ofdedicated todisappointed inexposed tofilled withguilty ofinnocent ofinterested inknown forproud ofremembered forscared oftired ofupset withworried about Examples: Shes interested in taking French lessons. The man was found guilty of committing the crime. Tom is proud of donating his free time to the charity. Object of a Preposition When followed by a verb, prepositions always take the gerund form. Here are some examples: Peter arrived at work after fighting the morning rush hour traffic. Are you able to remember all the facts without googling them? She thinks Mary is against buying a new house. Remember that  prepositions are often the last word in phrasal verbs. For example: Tim thought about buying a new car. We are going to look into renting an apartment in Hawaii next summer. I look forward to seeing you soon. Subject Complement Subject complements are used to define the subject with linking verbs such as be, seem and become. Here are some examples: Her biggest wish in life is traveling around the world. My intention is making sure you understand the gerund. Her questions seem to wait for answers. Negative Gerunds Making a gerund negative is easy. Just add not before the gerund. Here are examples of each type of gerund use using the gerund in the negative form. Not wanting anything in life can make you very happy. Alison enjoys not eating fatty food, and shes lost a lot of weight. I look forward to not working on my vacation. A Word of Caution The  gerund is often confused with the present participle. Thats because the gerund looks exactly like the present participle; they both are formed by adding ing to the verb. Look at how the word is being used in the sentence; if its functioning as a noun, its a gerund.   Present Continuous Verb: Were waiting for the bus.Gerund as Subject: Waiting for the bus is boring.Present Perfect Verb: I have been working on the project for two years.Gerund as Object of Preposition: I look forward to working on the project.

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Green Architecture Essay - 1451 Words

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What are Agents of Socialization - 1413 Words

Socialization is a lifelong learning process essential for our development as human beings. Through socialization we acquire a sense of self as well as emotions. Socialization is an essential factor in shaping our behavior. Without socialization, people wouldnt be able to learn the language, symbols, values, and norms of the society their live in. They also wouldnt be able to find their place in society. Significant individuals and groups that have an impact on a persons socialization are referred to as agents of socialization. As life changes and individuals go through the various stages of life, their agents of socialization change as well. For example, the biggest influence on an infants life is their parents or guardians. Almost†¦show more content†¦While racism and prejudice were common in my family, my friends where raised by their families to be more open minded and appreciated diversity. Their views clashed with what I learned at home, however, I identified more with my peers views and made them my own. In fact, I felt more connected to my peers and their families than I did with my own family. My peer as well as the neighborhood I grew up in where essential agents of my socialization. For adults, the workplace tends to be an important agent of socialization. There they learn skills and a new perspective on the world. Work also becomes part of an individuals self-concept. When I first started working in the US, I was employed in retail. I chose this job in parts because of the socialization factor. I wanted to learn more about how Americans interact, and working in a retail environment seemed like a good place to do that. Working in a retail environment exposed me to a large group of people in a fairly short time. By watching my co-workers and through their input, I quickly learned to take on behaviors that are common in the US. 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Principles of Management Emirates Airlines

Question: Discuss about thePrinciples of ManagementforEmirates Airlines. Answer: Introduction Management is an essential part of an organization in the United Arab Emirates. Management is the act of running and controlling Business activities to complete an activity effectively. Management is better understood through functions and roles models. The following chart shows the management functions and roles of management in Emirates Airlines (Marquis, 2016). The Functions Model This model involves the five functions of management namely, organizing, controlling, planning, staffing and coordinating. Planning function involves the establishment of strategies definition of purpose coordination and integration of activities of the airline company to ensure effectiveness and efficiency in the delivery of services (Alfred, 2017). Organizing function constitutes of establishing the way forward for tasks, and division of work. This ensures that the organization cuts cost as well as avoid the duplication of duties in the airline company (Alfred, 2017). Coordination function relates to the influential aspect through motivation and harmonization of the staff. The manager engages the employees from time to time to motivate them and ensure that they are appreciated for their contribution to the organization. The controlling function is the function of evaluating and making adjustments of tasks. As the airline, industry competition increases in the world airline organizations in the Arab Emirates also are affected. This calls for the managers to make evaluations and adjustments to better position the company at a competitive edge (Alfred, 2017). Staffing function involves recruitment and aligning personal needs to those of the organization. This is done to get the right people for the job. A well-performing organization is defined by how well the employees in the organization are committed to the goals. Managers of Emirates airline engage in recruitment and alignment of employees personal needs to the success of the company (Alfred, 2017). The Roles Model Henry Mintzberg brought the model forward in the 1970s. The model puts management roles into three categories, which are, The interpersonal role, this involves ceremonial and symbolic duties, which are acting as the figurehead, liaison, and leader. Managers at Emirates airline are responsible and answerable to all activities taking place within the organization and its departments, they act as the agents of the organization in which activities are consulted through them (Management, 2017). The informational role that involves, monitoring, disseminating and being a spokesperson. All the information relating to the Emirates airline stops at the management level, the management then monitors and disseminates the information to identify the real issue in which they use to defend the organization or pass information as spokespersons (Management, 2017). Decisional roles include the roles of resource allocator, disturbance handler entrepreneur, and negotiator. The growth of the Emirates Airlines has been largely determined by the decisions made by the management. This ranges from resource allocation to negotiations and handling of conflicts within the organization to harmonize situations (Management, 2017). Chaos Theory In every organization, change is inevitable. Change causes chaos that is sometimes not manageable. As the organization continues to grow, so does the susceptibility of chaos. Therefore, more structure is required under this theory to manage change (Daft, 2016). Conclusion In conclusion, functions, and roles of management go hand in hand for successful management practice. The management at Emirates airline has already realized the two approaches hence the reason behind the growth of their organization. However, they require the chaos theory to manage the changes that come because of organization growth. References Alfred, w., 2017. Five Functions of Management Leading. [Online] Available at: https://smallbusiness.chron.com/five-functions-management-leading-56418.html [Accessed 21 April 2017]. Daft, R., 2016. Management. s.l.:s.n. Management, M. R. I. O. r. D. r. P. o. M. B., 2017. Business Management. [Online] Available at: https://www.zeepedia.com/read.php?managerial_roles_in_organizations_informational_roles Marquis, B. . H. C., 2016. Leadership roles and management functions in business. s.l.:s.n.