Sports Management 4 and 5

detailed written description of all marketing activities that must be accomplished in order to make an event successful

physically spread out over several states or countries.

when a supervisor tells an employee how to meet a goal or objective

divide large businesses into smaller operating units.

 have a few top managers who do all major planning and decision making.

◦Specialization is when work is given to those people who can best accomplish the tasks.

the physical or mental human effort

divides employees into permanent work teams with certain responsibility.

◦employees report only to one supervisor at a time.

◦The most successful organizations determine the strengths of their team members and rely on those individual strengths.

strength gained from partnerships

taking the risk of planning, managing, and producing the business or event.

Usually written and well thought out.

◦decisions are made through empowerment and networking. Communication flows.

the number of employees that a manager supervises directly.

limited financial resources for unlimited wants

Utility is the ability of a service or good to satisfy a want.

 Factors of production are the four basic resources used to create useful goods and services.

 Control means knowing what is occurring in comparison to preset standards or objectives.

free enterprise

A Budget is a specific financial plan to determine the best way to use available resources to reach goals.

involves having the entertainment event available when the largest target can be involved.

focuses on customers and their needs.

Economics relates to producing and using goods and services that people want.

forms temporary work teams for specific projects.

All managers can issue orders

govt controlled

involves offering an entertainment event at a location where the target market demand is greatest.

created when ownership of a good or service is transferred from once person to another.

A loose collection of thoughts about how to do something.

buildings, tools, machines, equipment

◦Shoulder periods are non-peak times at theme parks. (peak season is summer)

anything provided by nature.

have fewer levels of management & Improves communication because info flows through fewer levels of business.

selling additional products to customers beyond the initial purchase.

◦include all activities necessary to produce and market a product.

◦Do not issue orders. They assist and advise line managers.

trace all authority and responsibility in a direct line from top executive down to lowest employee level.

◦tasks are specific and top managers primarily make decisions. Communication is narrow and limited.

A financial plan must include:

  Organizations are people whose specialized tasks are coordinated to contribute to the company’s goals.

the process of creating a perception that separates an organization from its competitors.

financial document projects attendance and revenue necessary to be success.

when an employee tells a supervisor about a problem.

◦the amount that will be offered for sale at a particular time and price.

◦the amount that will be bought at a given time at a given price.

Work grouped by basic function of business

External factors inside the organization’s full control

involves changing the form or shape of a product to make it useful.