sports management midterm exam

A valid contract contains which of the following elements?

-Offer and Acceptance -Capacity -Consideration -Legality

Under the law of agency, the agent owes the principal fiduciary duties. Which of the following are fiduciary duties owed to the principal by the agent.

-duty to exercise reasonable care -duty of loyalty -duty to obey

Which of the following are ways that professional sports leagues attempt to improve competitive balance?

-financial transfers from large market teams to small market teams through the league revenue sharing structures -maintaining the reverse order draft system -enforcement of salary caps (hard or soft) to limit how much teams can pay for their overall roster

Increased revenue in spectator sports has come from:

-gate receipts -broadcast contracts -stadium naming rights

Fred Corcoran was involved in which types of sport management?

-golf tournament design -creating a sport spectacle modeled after the worlds of hollywood and advertising, e.g. building interest with the first "Pro-am" tournaments with celebrity participants -Community sponsorship of sporting events by arguing that traveling tournaments bring money into the community

Which are a defenses available to an employer in a vicarious liability claim?

-if the employee was not negligent, the employer cannot be held liable -That the employee was not acting within the scope of employment, as is the case if an employee is out acting on his own or committing an intentional tort -that the employee is an independent contractor

Which of the following are core content areas for academic sport management programs?

-marketing -management and leadership -legal issues -budgets and finance

Professional Sports Organizations can try to internationalize by:

-selling licensed merchandise -marketing foreign athletes -placing teams in international cities -promoting sport tourism

A collective bargaining agreement is a contract that:

-sets forth hours provisions -sets forth wage provisions -sets forth terms and conditions of employment

Which of the following are important differences between sport businesses and other goods and service providers:

-sport businesses have "fans" with high levels of loyalty while other businesses simply have "consumers" -sport businesses must maintain some uncertainty in core product performance, while other businesses seek consistency. -Fans and sponsors often promote sport businesses for free (or even pay for the privilege), while other businesses must pay for their promotion and advertising.

What did the initial success of the national baseball league depend on?

-the appearance of honesty and integrity of the players -an organized "pennant race" with fairly even competition -protected (reserved) players recognized by all league clubs to avoid raiding of rosters mid-season

What themes were discussed in chapter 1

-the importance of honesty and fair play to maintaining public interest in sports -the evolution of sports structures based on social and cultural changes

How are non-sport related corporations most commonly attempting to use sport to sell products internationally?

-through he sponsorship of international teams -through the sponsorship pf international athletes

The USOC (U.S. OlympicCommittee) is an example of:

A National Organizing Committee (Govern Olympic Sports within one nation)

_____ argues that moral precepts are universal; that is, applicable to all circumstances.

Absolutism

The founder of the modern Olympic Games in 1894 was _____

Baron Pierre de Coubertin

The emphasis on product extensions and the development of team sport promotional strategy can be attributed to:

Bill Veeck

What is the primary factor pushing up financial values of international Football (soccer) franchises in recent years?

Broadcasting revenues

Which of the following is considered to be the birthplace of modern sport and sport management?

England

The Sport Broadcasting Act of 1961 does what?

Exempts the major professional sports leagues' national television deals from antitrust liability in pooling their television rights as a league.

True or False: If a golf club manufacturer sells a set of golf clubs to a retailer for $1000, who in turn sells the clubs to a customer for $1500, then the total output of the industry is $2500

False

True or False: Laws and morality are the same

False

True or False: Sponsorship within the sports world is a new phenomenon, introduced during the 1970's.

False

True or False: The Olympic Games have been held continuously for over 1500 years dating back to ancient Greece

False

True or False: The sport marketer is able to control their product in a manner similar to a traditional marketer.

False

True or False: Waivers and releases of liability are contracts where parties agree to give up their right to sue for all types of torts

False

True or False: No major professional sports have been able to become consistently international, i.e. only amateur sports have been globalized.

False (e.g. Champions League Soccer, Professional Cycling, F1 racing)

How did sports first spread across international borders?

Imperialism

Which of the following is the supreme authority for the Olympic Games and the Olympic Movement?

International Olympic Committee

In present day sport management, the United States is most often associated with ______ structures, while Europe and much of the rest of the world still use _____ structures.

League, Club

What Summer Olympic Games marked the turning point for commercial involvement with the Olympic Games?

Los Angeles in 1984.

Which of the following is the main scholarly organization for sport management whose purpose is to, "promote, stimulate, and encourage study, research, scholarly writing and professional development in the areas of sport management, both in the theoretical and applied aspects"?

NASSM

What is the world's most popular sport?

Soccer

The first company to capitalize on the term official with regard to a professional sport product was:

Spalding

The initial success of the national baseball league depended on all of the following EXCEPT:

The ability of teams to withdraw from the league during a season due to financial shortfalls

True or False: An entire subfield of economics has developed that examines the spectator sport industry because, while teams may compete against each other on the field, they must cooperate off the field.

True

True or False: College sports programs are almost always unprofitable, i.e. expenses exceed revenues

True

True or False: More than half of NFL franchises are valued in excess of $1 Billion (2012).

True

True or False: Sport managers' decision making is complicated because the outcomes of their decisions affect diverse groups of people who's interests are often in conflict.

True

True or False: sports businesses have some exemptions to anti-trust law that allow them to collude "off the field".

True

True or False: The birth of the "Club" system of sport management is often traced back to thoroughbred racing in the 1700s.

True (Newmarket Jockey Club)

By turning a parking garage in proximity to the 1996 Atlanta Olympic Village into a mini-Nike Town, Nike was engaged in:

ambush marketing

_____ is/are anything than an organization owns that can be used to generate future revenues.

assets

An _____ is a practical conflict involving more or less equally compelling values or social obligations.

ethical dilemma

Sports marketers define _____ as the personal commitment and emotional involvement customers have with a sport organization

fan identification

Mark McCormack's sports marketing agency, IMG, began through a relationship with players of this sport:

golf

William Hulbert's revolutionary reorganization of professional baseball would make it fall under which sports management structure?

league system

As chronicled in the book "Moneyball," the strategy employed by the small-market Oakland A's general manager Billy Beane to better compete with large-market teams by identifying and acquiring undervalued players is an example of an organization maximizing its _____.

return on investment

Identifying subgroups of the overall marketplace based on factors such as age, ethnicity, or income level is called:

segmentation

Under the law of agency, the agent owes the principal fiduciary duties. Which of the following is NOT a fiduciary duty owed to the principal by the agent.

the duty to compensate or reimburse

Which is not a defense available to an employer in a vicarious liability claim?

the employee was properly trained by the supervisor/employer and thus, the employer is not negligent.

True or False: The club-based system of sports organization is more common throughout the world than the education based system.

true

The concept of ____ is probably the best single measure of an industry's impact.

value-added