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SEE 3020 (Pro Sports) > Midterm > Flashcards

Midterm Flashcards

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Sports Trivia flashcards
1
Q

the big 4 in sports

A
  • MLB
  • NFL
  • NHL
  • NBA
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2
Q

Things that fall under pro sports mgmt

A
  • org structure & governance
  • economics
  • marketing
  • Media/Broadcasting Rights
  • Labor Unions and Player Associations
  • Contract Law
  • Merchandising and Licensed Products
  • Community Impact
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3
Q

different types of owner philosophies

A

Own and manage teams as a business have been successful in other businesses
Try to win championships and have a very successful franchise
Own teams for status and power
Own teams for tax write-offs
Own teams for almost a hobby
Own teams because it has been passed down in the family

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4
Q

Factors that might affect the future of pro sports

A 
Economics/Economy
Image and popularity of the sports
Ownership actions
Players/Player union actions – strikes, etc.
Fan actions
Media impact
Legal issues
Other issues – violence in  sports, steroids/performance enhancing drugs
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5
Q

considered the most important influence on the structure of a pro sports org

A

size

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6
Q

3 most commonly found dimensions of org structure in pro sports

A
  1. complexity
  2. formalization
  3. centralization
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7
Q

complexity

A

refers to the extent to which an org is divided into divisions, departments, groups or roles

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8
Q

horizontal differentiation

A

different parts of the organization become specialized in different activities – Ex: tennis and golf tours

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9
Q

vertical differentiation

A

refers to the number of hierarchal levels of the organization – organization chart – Ex: most independent organizations

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10
Q

spatial differentiation

A

refers to the degree of geographical separation of the various divisions of an organization – Ex: NFL, MLB, NBA, NHL

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11
Q

formalization

A

Refers to the extent that to which rules, regulations, job descriptions, policies, and procedures govern the operation of the organization

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12
Q

centralization

A

how decisions are made within an organization

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13
Q

centralized organizations

A

decisions tend to be made by upper levels of management

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14
Q

decentralized organizations

A

similar decisions would be delegated to lower hierarchal levels – upper management gives more authority to lower levels

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15
Q

Governance for most major league sports usually include:

A

Usually have a commissioner
Board of governance or committee structure
League or sport office
Usually the owners have the ultimate say in the policies that are developed, but the commissioner has a lot of power and influence
Player associations and unions have grown and become more powerful over the years which influences governance

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16
Q

organization of pro sports team

A 
Owner(s)
CEO
CFO
President
Vice Presidents
General Managers and Asst. GM
Directors/Managers/Asst. Managers
Areas of management - Player Personnel, Sales & Marketing, Ticket Operations, Facilities Operations, Technology, F&B, Parking, Community/Public Relations,
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17
Q

law of supply

A

supply is directly proportional to price; the higher the price of the product, the more the producer will supply

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18
Q

law of demand

A

demand is inversely proportional to price; the higher the price of the product, the less the consumer will demand

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19
Q

market power

A

when a producer faces limited substitute products and is able to set the price of their product on how much they produce

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20
Q

scarcity

A

is the simple economic principle that there are not enough goods and services freely available to satisfy people’s wants and needs

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21
Q

Scarcity characteristics of professional sports

A 
The “product”
The “beauty” of the sport or team
Competition
Commonality
Enjoyment of winning
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22
Q

price elasticity

A

the responsiveness of consumption to changes in prices

One of the most important pieces of information that determines the demand

Affects attendance

Affects the pricing of the tickets

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23
Q

basic expenses

A

facility costs, operational expenses, salaries, all other expenses

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24
Q

traditional revenue sources

A

ticket sales, concessions, merchandising, parking, other basic sources, etc.

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25
Q

Non-traditional revenue sources

A

luxury suites, naming rights, sponsorships, TV/broadcasting rights, etc.

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26
Q

Ways to increase attendance

A

Improve quality of team
Lower ticket prices
Facility reconfiguration – “downsizing” of facilities seating capacities
Sellouts
Providing other entertainment – making sure fans get their “money’s worth”

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27
Q

professional sports marketing

A

consists of all of the activities designed to meet the needs and wants of professional sports consumers through exchange processes

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28
Q

The marketing “of” sports includes

A
  • Determining the demographics, psychographics, and target market for the organization
  • the 5 “p”s of marketing
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29
Q

the 5 ‘p’s of marketing

A
  • product
  • price
  • place
  • promotions
  • public relations
30
Q

marketing through sports includes

A

“Naming rights” for a venue
“Pouring rights” – beer, soft drink companies
Sponsorships for specific games/events or activities at a game/event
Sponsorships and endorsements – teams, individual players, etc.

31
Q

1920’s

A

radio broadcasts of professional baseball and football games, other sports

32
Q

1950’s-1960’s

A

TV broadcasts of NFL, MLB, NBA – growth of the major networks

33
Q

1971

A

Monday Night Football – first big prime time professional sport

34
Q

1979

A

ESPN comes onto the scene

35
Q

1980’s

A

present – development and growth of other pro sports broadcasting on cable and other outlets

36
Q

Sports Broadcasting Act (SBA)

A

passed by congress in 1961 that granted professional sports leagues an antitrust exemption allowing them the right to sell to the highest bidder

37
Q

National Broadcasting Rights

A

teams/leagues sell their game rights to national TV companies – MLB and NHL sells some national games, NBA sells a large number, and NFL sells all of their games

38
Q

Local Broadcasting Rights

A

contracts between local cable media providers to broadcast professional sports games – NESN, YES Network, other cable and local companies, etc.

39
Q

Internet/Satellite/Wireless Rights

A

contracts between professional sports teams/leagues with satellite and wireless companies – mlb.TV, XM satellite radio, Sirius radio, ESPN wireless, other wireless packages

40
Q

Media providers

A

network, cable, satellite broadcasting companies

41
Q

Rights fees

A

fees paid by the media providers to a league or team to broadcast their games

42
Q

Advertising slots

A

short time periods set aside for advertisements during a broadcast

43
Q

Slot fees

A

the fee charged by media providers for particular time slots

44
Q

Other New Trends in Broadcasting

A
  • Leagues creating their own network
  • Other networks that are not major or national networks are making large contracts
  • Broadcasting of games on the internet by “streaming” games
  • satellite radio
  • pay-per-view
45
Q

Management Component

A

is made up of the league itself, the individual teams and owners, including all non-player employees

46
Q

labor

A

is made up of the players, their agents, and the player’s association

47
Q

Collective Bargaining Agreement (CBA)

A

labor contract between management and the labor unions (player associations) – leagues and unions negotiate collective bargaining agreements usually for long term period of time

48
Q

2 Types of work stoppages sometimes develop if CBA’s cannot be reached

A
  1. strikes

2. lockout

49
Q

strikes

A

work stoppages where the players refuse to work

50
Q

lockout

A

work stoppage where owners refuse to allow the players to play

51
Q

Issues that generally cause work stoppages:

A

Salaries, benefits, pensions, revenue-sharing, free agency, salary caps, working conditions

52
Q

National Labor Relations Act – 1935

A

created to oversee the formation of unions and the process of collective bargaining
The right for labor to form unions
The right for unions to bargain collectively through representative (professional sports – player rep)
The right for labor to use pressure tactic such as strikes and picketing

53
Q

National Labor Board

A

board that enforces the NLRA and decides grievance brought to them by labor or management

54
Q

Revenue-sharing

A

guarantee’s the league’s overall health as an economic entity – TV/radio contracts, merchandising and other sources of revenue are divided equally among the teams in the league

55
Q

free agents

A

players who have reached the end of their contract and have met the experience requirements by their collective bargaining agreement – free to sign with another team - restricted and unrestricted free agents

56
Q

Arbitration

A

a process where a mutually agreed upon third party determines a disputed outcome – salaries, benefits, etc. – arbitration usually forces parties to negotiate in good faith

57
Q

Salary cap

A

is an established limit on the amount of money that a team can spend on player salaries – either as a per-player limit or a total limit for the team’s roster (or both) – “hard” or “soft” cap

58
Q

Luxury tax

A

tax that a team is forced to pay after they spend more than the established league salary cap amount per team

59
Q

collusion

A

when owners have been accused of planning and plotting to work together to lower salaries and decrease the effectiveness of the player associations

60
Q

3 Basic strategies of player associations

A

Antitrust litigation
Player strikes
Arbitration of grievances

61
Q

Option clauses

A

team and player options for additional years – team options, player options or both

62
Q

No-cut clause

A

assure that a player cannot be cut for the life of a contract

63
Q

No-trade clause

A

player cannot be traded any time during the life of the contract

64
Q

Off-season and in-season activities

A

activities that a player is not allowed to participate in – “dangerous activities” clause

65
Q

Other clauses

A

physical conditioning, drug-testing, rehabilitation of injuries, performance bonuses/clauses, bonus/guarantee upfront, others

66
Q

Breaching of these clauses and terms cause

A

terminations, fines, suspensions, other legal remedies

67
Q

Monetary damages

A

the usual type of award – one party must pay another party a monetary award

68
Q

Specific performance

A

the breaching party must perform the act as promised in the contract

69
Q

Rescission and restitution

A

the contract is cancelled and the status occupied before the contract is restored

70
Q

Restoration

A

the court allows the parties to rewrite a contract

71
Q

Mitigation

A

the non-breaching party must make reasonable efforts to lessen the consquences of the breach

SEE 3020 (Pro Sports) (2 decks)

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