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Transcript of Sports and Entertainment Marketing © Thomson/South-Western Textbook Assignment: Encore pg. 41 1. B...
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Sports and Entertainment Marketing© Thomson/South-Western
Textbook Assignment: Encore pg. 41
1. B – Thunderstorm
2. A –
1. Gain or Loss Risks
2. Insurable Risks
3. Controllable Risks
3. Make the facility is well-lit, has adequate fire exits, staffed with security personnel, employees have been trained for emergency situations.
Chapter 2Slide 1
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 2
Lesson 2.3
Business Ethics
Learning Targets I can define ethics.
I can discuss the impacts of unethical behavior.
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 3
Terms Ethics Principles
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 4
DO ETHICS COUNT?
Ethics a system of deciding what is right or wrong in a
reasoned and impartial manner.
Note - All businesses should be conducted with integrity, trust, and fairness.
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 5
Ethics and Character Matter
Principles high standards of rules and guidelines.
Character Development a progression in behavior - advance from childish
behavior to mature behavior (it takes time).
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 6
Common Principles in our society? Don’t Kill Don’t Steal
Common Principles for NCAA? Can’t except money from boosters/agents Can’t bet on games
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 7
BUSINESS BEHAVIOR
People (businesses) should act ethically while pursuing a profit.
Athletes (teams) should act ethically while pursuing a victory.
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 8
Seeking an Advantage
Dilemma - acting ethically when you observe others who receive a benefit from acting unethically.
PED’s (Performance Enhancing Drugs) Corked Bats Paying or giving gifts to recruits
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 9
Controlling Bad BehaviorProfessional Sports - AthletesFinesReduced Playing TimeSuspensions
Game(s) Season Lifetime
College Sports - AthletesReduced Playing TimeSuspensions
Game(s) Season Loss of scholarship
Professional Sports - FranchiseFinesSalary Cap HitsFiringsRemoval of Owner(s)
College Sports - SchoolFinesReduction of ScholarshipsSuspensions
Televised GamesPostseason PlaySeason
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 10
Being Bad Can Affect Profits Only fans can really influence the behavior of ethically challenged
athletes/celebrities/leagues by taking a stand;
Stop buying Tickets Products (Jersey, Apparel, and items from major Sponsors)
Voice displeasure Letters Emails Blogs Protest
NOTE – if fans do not take a stand the bad behavior wont change because profit has not been affected.
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 11
Effective and Ethical Good decisions are both ethical and effective.
Good decisions are the right choices for the long term.
Athlete who takes steroids - Short Term – helps them perform at high level and perhaps helps team win Long Term – player will eventually encounter serious health problems
Teams that establish core values and demand that players act accordingly will be the big winners in the long run.
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Sports and Entertainment Marketing© Thomson/South-Western
Textbook Assignment:
Encore pg. 46 Answer Questions: #1, #2, and #4
Email your responses to the questions.
Chapter 2Slide 12
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 13
Lesson 2.4
Financial Analysis
Learning Targets
I can discuss sources of funding and revenue streams for sports and entertainment businesses.
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 14
Terms Return On Investment Forecast Budget Balance Sheet Income Statement
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 15
IT TAKES MONEY
Profit is the primary purpose of sports and entertainment marketing.
#1 Goal of any business is to MAKE A PROFIT.
#1 Goal of any team is to WIN.
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 16
Finding Funding Funding for an event is typically provided by investors.
Example Costs – Celebrity Golf Pro-Am Salaries Promotions/Advertising Player Fees Course Fees Event Workers
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 17
income from a venture that is distributed to investors.
Payment investors receive for providing financial backing (typically more $ than what they invested).
Initial Investment + Interest Initial Investment + Agreed Upon $ Amount Initial Investment + Interest + Agreed Upon $ Amount
Return On Investment
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 18
Money Sources Funds to repay investors are raised through Revenue Streams;
ExamplesTicket Sales
Pre-Game Sales and Season Tickets
Broadcast Rights TV and Radio
Licensing Merchandise and Apparel
Facilities signage, parking fees, luxury boxes, concessions
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 19
WHERE IS THE MONEY?
Forecast a plan/report that predicts the expenses to be
incurred and the revenues to be received.
NOTE – must always do your homework if you want a successful business/team.
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 20
Budgeta plan for how available funds will be spent.
Solid budgets list specifics – Income (money coming in or revenue streams) Expenses (money going out).
Sole purpose of a budget is to control costs so they do not exceed the funds available.
Helps businesses/people to allocate money and not spend more than they have.
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2Slide 21
Financial Statements Balance Sheet
shows net worth at a specific point in time.
(Assets – Liabilities = )
Assets = items of value, cash, property, equipment.Liabilities = amounts owed for purchases made on credit and loans.
Income Statement
shows revenues and expenses for a specific period of time.Reveals company’s profit or loss.
Both are used to show investors and creditors that the business/team is being managed properly and worthy of funding.
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Sports and Entertainment Marketing© Thomson/South-Western
Chapter 2 - Textbook Assessment
Pg. 52
Questions: #1 – #10
Pg. 53
Questions: #15, #17 and #18
Due 10/22 – Start of Class
Chapter 2Slide 22