Chapter 4 Sports and Entertainment Management

Lesson 4.1
Managing Local Events
Business Plan
Events that indicate goals and objectives.
Budget
Specific financial plan that assists managers in determining financial resources.
Marketing Plan
Description of all marketing activities that must be accomplished.
Financial Plan
A type of plan that includes project income, expenses & profit for an entertainment event.
Hotels
Type of business that makes a good amount of profit during the Macy’s Thanksgiving Day Parade because individuals want to avoid traffic on Thanksgiving morning.
Section 4.2
Managing College Events
Natural Resources
Four factors of production that includes water, air, & climate.
Supply
The amount that will be offered and produced at different prices.
Utility
The ability of a service or good to satisfy a want.
Place Utility
The type of economic utility for the Rose Bowl Parade includes LOCATING the event in Pasadena, California.
Possession Utility
The type of economic utility for the Rose Bowl includes BUYING A TICKET in order to watch the event.
Lesson 4.3
Managing Professional Sports
50-60 Hours
Management positions in pro sports usually requires many hours for a work week during a season.
Community
Pro Sports teams must demonstrate a commitment in order to increase good publicity for their teams.
Kid Clubs
Sports franchises will set up these in order to keep children interested in their sports.
Markerting/Promotions Director
A management job which involves advertising and having giveaways at games.
Facilities Coordinator
A management job that involes running a stadium or arena.
Lesson 4.4
Managing Other Events
Brand Marketing
The process of creating that differentiates an organization from its competitors.
Span of Control
The number of employees that a manager supervisors directly.
Upselling
Selling additional products to customers beyond the initial purchase.
Proforma
A financial document that projects attendence & revenue to sucessfully undertake an event.
Shoulder Periods
Slow periods that require creative marketing strategies to bring in more business for a theme park or venue.
Pot luck
Jeopardy
Flattened Organization
A type of organization that has fewer levels of managemet & the biggest benefits come from improved communucation & cooperation between departments.
Time Utility
A type of economic utility for the bowl game includes having the event on January 1st every year.
Unity of Command
Employees report to only one supervisor at a time.
Decentralized
Divides the business into smaller operating units, giving managers & supervisors more responsibility.
Matrix Organization
Has businesses form temporary work teams for solving tasks.