Principles of Sports Management Midterm

_______ 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

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

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

International Olympic Committee

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

Los Angeles in 1984

Professional Sports Organizations can try to internationalize by:

Marketing foreign athletes, placing teams in international cities, selling licensed merchandise, and promoting sport tourism

Relationship marketing

Marketing that aims to build mutually satisfying long-term relations with key parties (customers, suppliers, distributors) in an attempt to earn and retain their business

ROI

Return on Investment; It shows the expected dollar-value return on each alternative investment, stated as a percentage of the original cost of each investment

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

Spalding

Code of Conduct

Statements of a company, business, organization, or profession that explicitly outline and explain the principles under which it operates and provide guidelines for employee behavior; also called code of ethics

Fan identification

The personal commitment and emotional involvement that customers have with a sport organization

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

Through the sponsorship of international teams, international athletes, and placing professional teams in international markets

Ethical Dilemma

a practical conflict involving more or less equally compelling values or social obligations

Agency

a relationship in which one party (the agent) agrees to act for and under the direction of another (the principal)

Contract

a written or oral agreement between two or more parties that creates a legal obligation to fulfill the promises made by the agreement

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

ambush marketing

Tort

an injury or wrong suffered as the result of another's improper conduct

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

assets

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

broadcasting revenues

3 basic types of sport organizations

clubs, leagues, professional tournaments

Morality

concerned with the values guiding behavior; a specific type of ethical issue

An ________ is a practical conflict involving more or less equally compelling values of social obligation.

ethical dilemma

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

Laws and morality are the same

false

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

false

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

false

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

false

The sport marketer is able to control their product in a manner similar to a traditional marketer.

false

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

false

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

How did sports first spread across international borders?

imperialism

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

league system

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 uses _________ structures.

league/club

A valid contract contains which of the following elements:

offer and acceptance capacity legality consideration

4 main functional areas for managers

planning, organizing, leading, evaluating

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

A collective bargaining agreement is a contract that:

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

What is the world's most popular sport?

soccer

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

emotional intelligence

the ability of workers to identify and acknowledge people's emotions and, instead of having an immediate emotional response, to take a step back and allow rational thought to influence their actions

Absolutism

the belief that moral precepts are universal, that is, applicable to all circumstances

Relativism

the belief that what is moral depends on the specific situation

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

scientific management

the idea that there is one best way to perform a job most efficiently that can be discovered through scientific studies of the tasks that make up a job, and the belief that managers can get workers to perform the job in this best way by enticing them with economic rewards; also known as Taylorism

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

College sports programs are almost always unprofitable, i.e. expenses exceed revenues.

true

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

true

Sports businesses have some exemptions to anti-trust law that allow them to collude "off the field".

true

Sports managers' decision making is complicated because the outcomes of their decisions affect diverse groups of people whose interests are often in conflict

true

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

true

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