Intro to Management
The main purpose of management is to accomplish the _______ _______.
Business's goals
Define conceptual skills.
The ability to think "big picture" and direct daily tasks to meet overall company goals.
________ _______ are mostly intangible and perishable.
Sporting events
________ provides support in exchange for exposure. Support can either be financial or other means.
Sponsorship
Why should managers know how to do the work of the workers they supervise?
To have realistic expectations for workers
President, VP, CEO are all examples of positions in what level of management?
Top-level
________ participants adhere to sanctioning body rules and some may be paid to participate in their sport.
Organized
Provide an example of when a business finds sport/event entity to sponsor that’s aligned with its brand image.
AVP Tournament - Coppertone, etc.
A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating:
Technical skills
There are normally fewer first line managers than middle or top-level managers in a company.
First-line managers are usually hired from within the company.
Which statement is true?
First-line managers are most commonly promoted from within the company.
There are normally more first-line managers than CEO's/department heads, etc.
This type of marketing involves a retail focus. Items sold such as licensed merchandise, sporting equipment, etc.
Marketing sporting goods and services
Name 3 types of sponsorship.
Local event, international event, teams, leagues, athlete
A manager evaluates the production output of a department by checking it against the production goals for that time period. This is an example of the _______ function of management.
This level spends a lot of time tactical planning. They are in charge of putting in to action directives from top-level managers.
Middle level managers
Name 2 benefits to a local community from sports influence.
Economic boost
Image boost
Name 2 risks associated with sponsorship deals for a sponsor.
Sponsorship clutter (too many sponsors), guilt by association (riots at event, athlete demonstrating poor sportsmanship, etc), losing streak for teams, strikes/labor disputes.
There are 5 functions of management.
Name and briefly describe all 5 functions.
Planning, Organizing, Staffing, Directing, Controlling.
Name 2 resources within a business that managers manage.
Human, financial, information, material
Name 3 of the top 5 most valuable sport franchises in the world. What is a major cause for these franchise's profitability?
Dallas Cowboys $5.7 B
New York Yankees $5.25 B
New York Knicks $5 B
FC Barcelona $4.76 B
Real Madrid $4.75 B
Name 2 of the 4 benefits of sponsorship for a company.
- Increase brand awareness
- Useful for B2B marketing
- Exclusivity
- Perks for sponsor such as tickets, full page ad, name/logo on promo materials