JOC Shifting toward Business Style Management
Tokyo, Oct. 14 (Jiji Press)--The Japanese Olympic Committee is trying to make a transition to a new form of management that can generate revenues and values, not just supporting national team athletes and sports organizations. Looking to the 2028 Summer Olympics in Los Angeles and beyond, the committee is recruiting experts in the private sector with knowledge on finances, business planning...
Tokyo, October 14 - The Japanese Olympic Committee (JOC) is transitioning to a more business-oriented approach that focuses on generating revenue and value beyond supporting national athletes and sports organizations. With the 2028 Summer Olympics in Los Angeles and future events on the horizon, the JOC is seeking to lessen its dependence on the substantial financial boost provided by the quadrennial games.
Currently, the JOC primarily concentrates on aiding national team athletes' participation in international competitions, such as the Olympics, and providing subsidies to domestic sports organizations. However, recent surging prices and the yen's depreciation have exacerbated athletes' financial struggles, making it increasingly difficult for them to maintain their competitive edge.
In response to these challenges, the JOC has identified three key areas for reform. The first priority is to host international competitions that contribute to regional revitalization and increase sports participation. The second focus is establishing a stable revenue base for Team Japan by enhancing the brand value through effective fund management, events, and merchandising. The third area involves supporting the management of domestic sports organizations to create a more favorable environment for athletes.
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