Recreation, Parks, and Tourism Administration Department
BS in Recreation, Parks, and Tourism Administration
Businesses take risks to progress a company forward, but management of that risk is essential for success. Companies can quickly identify early warning signs by creating an ever-evolving financial plan, which also strengthens the company’s vision, mission, goals, and objectives. The purpose of this study was to conduct a case study in financial risk management of the 2010 Vancouver Winter Olympic Games. The organization was evaluated based on an instrument created by the researcher to examine the Vancouver Organizing Committee’s financial risk management plan. The study showed that the Vancouver Organizing Committee created efficient management plans for potential risks and shaped a sustainable future for Vancouver. Program plans were structured, followed, and maintained through updated reports, and the committee recognized the importance of risk management in trade for financial gain. The committee needs to focus on researching, analyzing, and predicting future changes in the market when investing in capital.