Review for the Final including format and topics
Review for the Final including format and topics SPTE 201
Popular in Introduction to Sport and Entertainment Management
Popular in Physical Education
This 5 page Study Guide was uploaded by Ali Boehnlein on Monday April 25, 2016. The Study Guide belongs to SPTE 201 at University of South Carolina taught by Dr. Bob Heere in Spring 2016. Since its upload, it has received 29 views. For similar materials see Introduction to Sport and Entertainment Management in Physical Education at University of South Carolina.
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Date Created: 04/25/16
Final Exam Review Dr. Heere, SPTE 201 Format: 50 questions total o 30 multiple choice or True/False o 20 questions will be a mix of: Short essays (paragraph) Lists (characteristics, etc.) Open-ended (explain your reasoning) Topics: Strategy Leadership Marketing Revenue generation Legal issues Key Concepts: 1. Strategy a. Strategy goal formation i. “used to assess goals and determine an objective before formally deciding on a plan of action” b. Effectiveness v. strategy i. Effectiveness- doing things right ii. Strategy- doing the right thing iii. Must have effectiveness AND strategy to be successful c. Two ways of winning i. Be different than your opponent (ex. Fosbury flop in high jump) ii. Be better than your opponent d. Strategy of a game i. Understand the game ii. Understand the rules iii. Understand the competitor iv. Understand what you’re playing for v. Adjust as needed e. Role of evaluation i. Weigh the resthts to choose the best option 1. Ex. 4 down – go for it or punt? // should managers save their closer for the 9 inning? // should NBA coaches sit star players with 5 fouls? f. Beliefs, myths, misunderstanding i. Belief- it’s harder to change a belief than to create a new one ii. Myth- escalating commitment (giving one more chance because you have already invested so much) iii. Misunderstanding- no one wants to admit they are wrong g. Understanding why change must occur i. “if you aren’t getting better, do something different” 1. Ex. Nike (stop making shoes, start designing and outsourcing) ii. If you are already a top tier program, sometimes change isn’t needed 1. Ex. New England Patriots // NY Yankees 2. Leadership a. Definition i. Leadership is- providing direction and guidance to empower others toward a specific goal, organizational problem-solving ii. Leadership is NOT- telling people what to do using commands, controlling others’ actions b. Implications/theories of good leadership i. Trait- ex. Being taller makes a good leader ii. Behavioral- ex. Being a persuasive person is a good leader iii. Contingency- ex. Leadership ability depends on the situation c. Management v. leadership i. Management- coping with complexity, dealing with difficult issues ii. Leadership- coping with change, being able to adapt d. Leading change i. Provides direction, allows people to plan on a general level first e. Components of leadership i. Setting a direction- developing a vision for the future with the strategies to get there ii. Aligning people- reaching many individuals at once and empowering them to follow your lead iii. Motivating people- push everyone toward a central vision, let everyone take their own path f. “you can learn to be a leader” 3. Marketing a. Definition i. The action or business of promoting and selling products or services, including market research and advertising (applied to the sports industry) b. Market orientation i. Business model that focuses on delivering products designed according to customer desires, needs, and requirements, in addition to product functionality and production efficiency ii. Cater to the needs of the specific client c. Consumer types i. Average customers/participants ii. Athletes iii. Spectator iv. Sponsors v. Media vi. Etc. d. Market mix i. Product- why you need it ii. Place- where you can buy it iii. Price- how much it costs iv. Promotion- includes marketing, advertising, PR, etc. e. Marketing as “clutter” i. Because marketing is everywhere it can become overwhelming and feel cluttered ii. Must find a balance of being thorough without being too aggressive f. Creativity v. message i. Creative- can reach a multitude of audiences and make them emotionally drawn to your product, not always a sure sell ii. Message- if the message is not presented in an interesting way it will not be received well by clients and could lead to fewer sales g. How to hide the message in the content i. Ex. Making a TV show character work at Target ii. Ex. Making a movie only use BMWs iii. Ex. All new anchors on a station drink Starbucks on camera h. Consumer research i. Must do your research to determine what the consumer needs at a specific point in time and tailor your marketing to best serve their needs 4. Revenue generation a. Sales v. marketing i. Sales- the event of selling the marketing item, closing out the deal ii. Marketing- The action or business of promoting and selling products or services, including market research and advertising (applied to the sports industry) b. Types of consumers i. Low end consumer mass sales- many small sales that have a large audience because they are more affordable 1. Ex. Tickets, concessions, parking ii. High end sales- small number of high priced sales directed at a more specific audience because they are fairly expensive 1. Ex. Boxes, suites, sponsorships, media rights c. 8 steps of sales i. Ensuring philosophical agreement- make sure the client is on the same page as the seller ii. Develop and organize the prospective client- do your research, make contacts, find out who the decision-maker is iii. Adapt a consultant approach- find a way to create returning/loyal customers, build relationships and increase trust among clients iv. Open the sale/give the pitch 1. Give with passion and energy about product 2. Make customer feel flattered (compliments) 3. Understand the needs of the client 4. Directly address their needs/concerns (simplicity is better) v. Conduct sales analysis 1. Address concerns after initial pitch 2. Determine the customer’s feelings toward the product a. Would they buy again? Recommend? Do they like it? vi. Reaching an agreement 1. Getting the contract in writing (administrative) 2. Address any final client concerns before putting agreement in writing vii. Close on sale 1. If they hesitate or say they want to think about it, don’t be pushy, ask if you can help pacify their concerns/give them space viii. Obtain new connections 1. Maintain relationship with the client 2. Follow-up after purchase 3. Network with other possible buyers through the original client ix. Ways to analyze/check progress 1. Check for return on investment- was the time put toward the sale worth the return? 2. 80/20 rule- 80% of your sales should come from 20% of your customers a. Shouldn’t waste time on small value sales, focus on big ticket customers 3. “it’s cheaper to keep a customer than to find a new one” 5. Legal issues a. Negligence i. The unintentional conduct that falls below a standard set by the law to protect others from unreasonable risk/harm ii. Unintended tort (civil wrong other than a breach of contract) b. Elements of negligence i. Duty- protects the participant from risk and harm ii. Breach of duty- failed to meet the required standard of care 1. Determined by how a reasonable person would act in a similar situation 2. The standard increases if you have expertise in the subject iii. Causation- is there a connection between the breach of duty and the resulting injury/damages? iv. Damages- an actual loss must have occurred as a result of the breach 1. Compensatory ($$-most common) 2. Punitive (punishment to deter others) c. Defenses against negligence i. Statute of limitations- claims must be filed in a timely manner ii. Act of God- no liability can be assigned in the case of an unforeseeable event/disaster because negligence was not the cause of the injury iii. Contributory/comparative negligence- address whether you acted in a reasonable manner // if you acted below the standard of care iv. Assumption of risk- MOST COMMON 1. Primary- person understands and accepts the inherent risks (ex. Sports) 2. Secondary- person deliberately choses to encounter a known risk and act unreasonably (ex. Skiing off the marked trail) d. Common liability issues i. Lack of supervision- quantity or quality 1. Ex. 1 coach and 10 teams, unqualified v. qualified ii. Improper instruction/training- adequacy/progression 1. Were they educated on the safety/rules? 2. Did they follow safe training practices and an adequate build-up of skills? e. Contract law- promise or set of promises enforced by the courts which establish a duty to be performed between 2 parties i. How is it formed 1. Agreement- offer and acceptance 2. Consideration- exchange of value from both sides 3. Capacity- legally competent (excludes minors) 4. Legality- must not violate law to remain enforceable ii. Remedies- often causes the contract to be terminated and the non- breaching party to be awarded damages from the breaching party 1. Compensatory damages- normally used unless the object under contract is “unique” (ex. Babe Ruth jersey) 2. Liquidated damages- must approximate the damages if not able to be calculated f. Constitutional law- federal principles that guide modern government, outlines rights (federal, state, citizen) i. Gives unalienable rights to citizens (Bill of Rights) ii. Applicable amendments 1. 1 - freedom of religion, speech, expression, etc. a. Ex. Is mandatory prayer allowed before sports games? th 2. 4 - no unreasonable search and seizure a. Ex. Can athletes be forced to be drug tested? 3. 5 /14 - due process/fair treatment under the law a. Ex. Each athlete must be equally suspended/fined for similar violations
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