For more than 20 years, the incomparable and outspoken Dick Pound has been one of the most influential members of the International Olympic Committee. He is currently the director of the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games
During the Olympic Games, we had the great fortune to sit down with him to talk about his experiences and the legacy of the Olympics, and learn what it takes to maintain a brand like the Olympics and manage such a significant undertaking. It was a highlight of my trip to Vancouver for the Games.
- Theresa Beenken, Dick Pound & GSA President, Perry Goldsmith
Here are a few insights from the man who helped build the Olympic rings to the multi-billion dollar brand it is today:
On the Value of Your Brand:
A significant part of the business of the IOC today is in brand management. They are protecting one of the oldest and most sacred brands in the world. Pound views the whole of any property or deal, as much greater than the sum of its parts, while ensuring the integrity of the brand is maintained. The IOC’s goal is to be risk averse and ensure every host city is meeting certain minimum standards. To that end, the agreements and knowledge management continue to evolve. 15 years ago, the IOC contract with the host city was only 2 pages! Today these Games TV rights are worth 2 billion….and multiple pages.
How Important is Volunteerism?
Pound sees it as ‘refilling the well from which he drank.’ Pound is a tax lawyer by day and volunteers his time for the IOC. Pound’s first Olympic experience, when he competed as a swimmer in Rome, changed his life and he respected the positive treatment he received from the people involved. Pound wanted to put more back into the well than he drank and thus volunteer for the organization. Dick Pound has now been a high level volunteer with the Olympic movement for most of his adult life.
On Risk Management/Project Management – Get it on the First Bounce!
The Olympics are one of the largest ongoing major projects in the world, with risk and safety involved for our globe’s peak athletes. Pound discussed the importance of a three step approach:
- Strategy
- Live Adjustments
- Knowledge Transfer
Pound spoke of having a vision and strategy to start and stressed the importance of making adjustments along the way when issues arise. ‘Get it on the first bounce’ when errors or challenges come to light. He spoke of the importance of a post-project debrief and review of what worked and lessons were learned. He also explained the importance of ensuring there is knowledge transfer so that others can follow your blueprint of guidance and lessons learned.
We also asked:
What does he see as future challenges shared by the Olympics and Business in General?
Three key issues:
- How to remain relevant – ensure you understand and appeal to what your audience/clients need and want
- How to reach the younger generation, ‘who aren’t nearly as relevant as they think they are’, but important none-the-less
- Better understanding of outreach – consider the impact of the fact that in this day and age, we can reach out to more people than ever before, in more countries – what does that mean? How will that change things? Simultaneously, the outreach works in the opposite way too – more people can critique and contribute to what we are doing. What will that mean?
The Olympics we saw and experienced touched all of us in our own way and continue with the Paralympics now featured. The whole time, there’s also so much going on behind the scenes we don’t often hear about. Just like with Dick Pound the man. His media image can be bold and controversial, but he often shows his witty and compassionate side too when you meet him in person. Or when you happen to Medal in Women’s Hockey at the Olympics, and he’s there to give your Gold Medal, and a kiss on the cheek. J
Here’s more in-depth information on Dick Pound and his Olympic story:
http://www.irpp.org/po/archive/dec09/pound.pdf
