Unit 21 - The business of sport Flashcards

Question

What are the benefits of customer retention/loyalty

Answer 1

Cost of attraction vs cost of retention impact on reputation predictability of income/financial security loyal customers are less likely to switch to competitors, more likely to buy more, less price sensitive it makes the employees job easier if they know what customers want regular customers are less expensive to service due to familiarity with product/service

Answer 2

Cost (cheaper) Inclusion meeting objectives funding criteria advocacy nature of organisations (e.g. one off events) avoids legal/contract issues positive reflection of organisation corporate social responsibility supporting employability and development supporting local communities

Answer 3

Long-term Short-term One-off

Answer 4

event support staff Sports coaches/leaders club/team committees officials administrative positions

Answer 5

Corporate Social Responsibility (CSR)

Answer 6

An approach where the business considers the impacts and which its activity has he society and the environment and contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders

Answer 7

Community Projects adhering to laws and regulations environmental and sustainability awareness positive reputation of the organisation

Answer 8

- A way to meet social and community obligations - Improves organisation's reputation - Develop positive corporate image - Can be used as a marketing tool/strategy - Can increase commercial success - Reaching and engaging with more people from across the entire social and demographic spectrum - It is a regulatory requirement for many sports organisations - Can enable access to funding - It is the correct thing to do ethically - Consumers are increasingly focussed on CSR issues - Sport is an effective CSR medium/sport reflects the values of CSR, e.g. fair play, caring for community, inclusivity - CSR more part of the culture of sports organisations now than previously

Answer 9

Environmentally friendly Ecologically friendly Economically viable Managing and reporting sustainability Sport organisations creating lasting legacy

Answer 10

Cheating (e.g. usage of illegal equipment, foul play) Match fixing (e.g. throwing a game, betting patterns, spot fixing, insider dealings) Doping (e.g. use of banned substances/performance enhancing drugs, blood doping, sports not signed up to WADA code) Breaking Financial regulations (e.g. financial fair play in football, salary caps, tax avoidance/evasion) Bribes and kickbacks (e.g. vote rigging in relation to hosting major events) Money laundering through sport (e.g. investment into sports clubs from unregulated sources)

Answer 11

Acceptance of unethical practice in sport (e.g. product sponsored by an athlete who has failed a drug test) breaking financial regulations Bribe and kickbacks money laundering through sport

Answer 12

Sales/sponsorship deals Loans/bonds grants memberships debentures (e.g. long-term season ticket/corporate facilities/private boxes) Philanthropic donations selling shares fundraising activities/events

Answer 13

Influence of Government and DCMS (Department of Culture Media and Sport) Strategic role of QUANGOs ie. UK sport Role of NGBs Local governments funding for inclusion/community/disadvantaged groups Funding from sports businesses (e.g. sponsorship of events)

Answer 14

a semi-public administrative body outside the civil service but receiving financial support from the government, which makes senior appointments to it.

Answer 15

Sports Clubs Community based organisations Local schools/colleges Individual athletes/performers

Answer 16

New/improved facilities Kit/equipment Group works/grounskeeping running events (e.g. Sainsbury's School Games, Invictus Games, Corporate Games, Asda Kwik Cricket) Coaching/training Initiatives for increasing participation (e.g. The Girl Can, Living for Sport, Kickz, Sportivate)

Answer 17

Application methods (e.g. application forms, bids) Meeting funding body criteria, i.e providing need/demand for service/product Having clear goals/impact proven/demonstrating ability to deliver outcome eligibility (e.g. recognised sport, size of organisation, location)

Answer 18

the process of managing or running something principally for financial gain.

Answer 19

Move from amaeture to professional in different sports commercialisation defined as "to be managed or exploited in order to make a profit" transformation of sport from leisre activity to paif spectator/performaer activity introduction of sponsorship introduction of large media contracts to have exclusive rights to show sports importance of customer/fan engagement impact of mass media influence on new social media and digital marketing in sport

Answer 20

Increase in revenue improvement to stadia new forms of sponsorship improvement to training facilities/training of coaches recruitment and development of employees/players increase exposure to a national/international/global audience increased fan base/reach introduction of the global sport superstar increased product range

Answer 21

Changes in who controls sport over-reliance on funds/monies from media deals influence of new technology changing rules in sport to make more sustainable for television coverage more pressure on players i.e. extended seasons, player injuries, payer burn out, early retirement introduction of Global sport brands media intrusion into sports stars' lives impact of social media - positive/negative rising cost of spectatorship (both live and through media) disconnect between fans and performers

Answer 22

PROFIT DRIVEN FUNDED THROUGH PRIVATE INVESTMENT, MEMBERSHIP, FEES, SALES AND SPONSORSHIP TARGET GROUPS INCLUDE INDIVIDUALS WITH DISPOSABLE INCOME PROFESSIONAL ATHLETES SCHOOLS AND TEAMS

Answer 23

NO FOR PROFIT ORGANISATIONS AIM TO INCREASE PARTICIPATION/INCLUSION FUNDED BY LOCAL OR NATIONAL GOVERNMENT, MEMBERSHIP, FEES, LOTTERY FUNDING, PRIVATE DONATIONS TARGET GROUPS INCLUDE PEOPLE ON LOW INCOME, LOCAL COMMUNITIES AND SPECIFIC, (e.g older adults, children)

Answer 24

NOT FOR PROFIT ORGANISATIONS EXIST TO FULFIL A SPECIFIC SOCIAL PURPOSE, (e.g. aim to increase participation/inclusio) NORMALLY SET UP AS A CHARITABLE STATUS SELF-FULFILMENT/GIVING SOMETHING BACK TO THE COMMUNITY FUNDED BY MEMBERSHIP FEES, DONATIONS, SPONSORSHIPS, LOANS AND PRIVATE INVESTMENT TARGET GROUPS INCLUDE PEOPLE ON LOW INCOME, LOCAL COMMUNITIES AND SPECIFIC GROUP (e.e older adults children)