Venue management
Which of the following is a typical responsibility of a venue's managing authority or commission?
All of the above
Which of the following venues could host a musical concert?
Amphitheater, Arena, Stadium, Theater
The first domed stadium was the_____________, which opened in 1965.
Houston astrodome
Audits should always be scheduled and announced to make sure employees are not surprised.
False
Most public assembly venues are built with private money.
False
One of the primary characteristics of an arena is a sloping floor.
False
Promoters always make a profit on concerts in large-capacity arenas (18,000+ capacity).
False
Public perception is not an important factor when determining the level of success of a public assembly venue.
False
The most important tool used to determine whether or not to build a public assembly venue, as well as the type and size of venue to build, is a:
Feasibility study
The most common type of ownership/management structure for public assembly venues is:
Public ownership/public management
Governmental entities may decide to privatize the management of their venue for a number of reasons. Which of the following is NOT one of them?
The need for investment dollars
An agreement for a private management company to manage a venue usually includes the potential for earning incentive income if the company exceeds pre-determined financial and operational benchmarks.
True
Auditoriums and theaters are considered similar types of public assembly venues with similar types of events.
True
For most venues, the largest expense category is personnel.
True
Funding for capital improvements may come from excess operation revenues, designated tax funding sources, and appropriations from governmental agencies.
True
It is unlikely that a public assembly venue can be financially successful if its manager is required to adhere to all typical governmental policies and procedures.
True
A venue's ancillary revenue sources are insignificant and should not require much attention by management.
false
A venue's two most important commodities are time and space.
true
The accounting and auditing aspects of revenue-generating activities normally come under the direct supervision of the business office.
true
