Sport Management - Exam 1

What is the formula for simple ROI?

(gains - investment costs) / investment costs

How much money will the eSports market soon be worth?

1.2 billion dollars

According to Aristotle, how many emotions are there?

14

When and where were the first Olympic games held?

1896 in Athens, Greece

According to Cal Berkeley in 2017, how many emotions are there?

27

How long is the useful life of a stadium?

30 years

What is the 90/20 rule when talking about emotional intelligence?

90% of high performers have high emotional intelligence and only 20% of low performers have high emotional intelligence

Who is the pioneer of promotions?

Bill Veeck

Who created the human relations movement?

Elton Mayo

Birthplace of Sport Management

England

Who created scientific management?

Frederick Taylor

What was the first club to institute club governance?

The Jockey Club (est. 1750)

Who created leagues?

William Hulbert (1832-1882) (baseball)

What is organizational behavior (1940s)?

a combination of the scientific management and human relations approaches

What is the Rooney Rule?

a rule that dictates that NFL teams must interview at least one minority candidate for head coaching or V.P. and above positions (expanded to include women)

What is emotional intelligence (1990's)?

ability of employees to identify and acknowledge emotions when they occur and separate emotions from rational thought

When did the Olympics grow significantly?

after the 1908 London games

When were professional athletes deemed eligible to compete in the Olympic games?

after the 1988 Olympic games

What is demographic segmentation?

age, gender, family size, income, occupation, religion, race, nationality

What do studies reveal about CEOs and emotional intelligence?

almost all CEOs tested very high on emotional intelligence

When were the earliest sport cases?

as early as 1600s

Why did William Hulbert create leagues?

because he believed that teams would enjoy stability and success only if they were run like a business

Why can anyone become emotionally intelligent?

because you can learn it

What is product benefits?

benefits consumers seek from the product or event

What is geographic segmentation?

countries, areas, neighborhoods

William Hulbert's legacy includes: (3)

creating a game experience that adhered to cultural norms by prohibiting betting, selling beer, play on Sundays and banning "unwholesome groups"

William Hulbert's legacy includes: (9)

creating revenue sharing among teams

What is marketing?

creating, promoting and delivering goods and services to consumers and businesses

What are the five types of market segmentation?

demographic segmentation, geographic segmentation, psychographic segmentation, usage based segmentation, product benefits

What is the DIM process?

develop, implement, manage

What is risk management?

developing a strategy to maintain control over legal uncertainties

What is empowerment (1980's)?

encouraging employees to take initiative and make decisions within their operating areas and it encourages innovation and accountability

What are research methods that teams employ?

fan intercept surveys, focus groups, online or paper surveys, reward cards, beacons, apps, website data, value of sponsorship/publicity value

William Hulbert's legacy includes: (2)

forcing team owners to assume risk which required them to finish their seasons and punish those who did not as well as promoting to the public that the integrity of the league would not be compromised by the financial interests of the owners

What are the three common elements of management principles?

goals/objectives, resources and people

William Hulbert's legacy includes: (7)

he created the concept of the "pennant race" to promote baseball as a series of important games, not one-off events and also kept the league small so that every team had an opportunity to win the title

What is finance?

how an organization generates funds and how an organization allocates those funds

What is usage based segmentation?

how often, how much

How do you create demand?

identify a target market and their needs, understand the customer and create what they want and provide it at an appropriate value

What are municipal bonds?

issued by state and local governments, usually repaid with new taxes, can offer significant tax breaks, normally used for public services

What makes a successful promotion?

item has value, entertaining, inclusive, must create conversation - be memorable

What is psychographic segmentation?

lifestyle, personality, opinions, values, social standing

William Hulbert's legacy includes: (8)

limiting the movement of players from team to team to create local teams

William Hulbert's legacy includes: (5)

mandating that the league instead of clubs set the schedule

What is undifferentiated marketing (mass marketing)?

marketing to a wide range of consumers with similar needs and this is more cost efficient for the company

What is gross negligence?

occurs when a defendant acts recklessly (the person knows that the act is harmful but fails to realize the degree of harm that results)

What are the roles of the modern manager?

plan, organize, lead and evaluate (P.O.L.E.)

What are the two goals of sport management?

prevention and intervention

What are the 4 or 5 P's of sport marketing?

product, place, price, promotion AND public relations

What is target marketing?

promoting a product to a specific group, identifying qualities of your consumers and finding commonality among purchasers and maximizing sales by appealing to a certain group of people

What do sport lawyers do?

represent parties in a dispute (governing body and participants), draft rules and regulations and interpret rules and regulations

William Hulbert's legacy includes: (6)

requiring players to have a clean image

What is the formula for the flow of funds?

revenue - expenses = profit

Which principles created by William Hulbert do leagues still use today?

revenue sharing, weighted drafts, player contracts, player codes of conduct and fan codes of conduct

What are Daniel Goleman's 4 stages of emotional intelligence?

self awareness, self management, social awareness and relationship management

William Hulbert's legacy includes: (4)

setting higher ticket prices to draw an upscale ticket holder

William Hulbert's legacy includes: (1)

stricter rules by the league such as addressing collusion

What are two other clubs that emerged to control other sports?

the Marylebone Cricket Club and the pugilist society

What is sport law?

the application of existing laws to the sport industry

What is return on investment (ROI)?

the expected dollar value return on an investment, stated as a percentage of the original cost of the investment

When and where was eSports created?

the late 1990s in Korea

Who controls clubs?

the most powerful in society

How do clubs influence modern day Olympics?

they are founded on club structure

What do clubs do?

they collectively "police" a sport

Why were clubs created?

to control "honest play"

What were the responsibilities of The Jockey Club?

to establish rules, determine eligibility, designate officials, regulate breeding, discipline rule breakers and settle disputes

What is negligence?

unintentional/no intent to cause harm

What are intentional torts?

when one person purposely causes harm to another or engages in an activity that is substantially certain to cause harm

Do men or women have a higher emotional intelligence?

women