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