Posted: May 25th, 2022
Identify and discuss the most important elements of strategic planning that sport managers need to know in order to be effective.
Strategic planning, evaluation and feedback are essential components to any sport manager within a business function. As sporting franchises continue to expand their reach in emerging markets, strategic planning will have a more profound role in the daily operations of these firms. Many firms including the Dallas Cowboys, the New England Patriots, and Manchester United are valued at over a billion dollars. Those teams based in developed nations, such as America or Europe, will have a strong foundation in which to evaluate strategic business initiatives as they attempt to gain international market share. As such, it is very important for individuals to accumulate a basic understanding of strategic planning, the merits behind such planning, and how to appropriately evaluate performance.
To begin, one important element for sport managers to focus on is the identification of strengths and weakness in regards to the overall organization. Each organization has competitive advantages relative to its peers within the industry. Management must leverage these strengths to provide a compelling value proposition for potential customers. These strengths can come in the form of brand, cost, product, value and so forth. Sport managers must recognize these strengths in order for the strategic planning process to become success. For example, the Dallas Cowboys can charge premium prices for seating to their events because of the brand recognition the organization commands. This pricing power allows the sport manager to increase prices without a subsequent decline in demand. As such, premium ticket prices for the Dallas Cowboys are some of the most expensive tickets within the entire NFL. Recognizing these strengths allows the sport manager to coordinate a strategic plan that is both viable and comprehensive. Likewise realizing the organizations weakness is also important in regards to strategic planning. Using our earlier example, NFL organizations in a weak market will not be able to obtain the same pricing power that the Dallas Cowboys command. As such, the must formulate another compelling value proposition for fans and employees.
Feedback is a significant component as it allows for continuous improvement within the sporting organization. Feedback also serves as a means of balance to ensure the strategic initiatives of the sporting organization are aligned with that of top level management. Through the proper use of feedback, management can correct any unnecessary behavior occurring in the firm. This mechanism will ultimately save the firm money as it is more efficient with its resources. More important however, feedback insures that the strategic planning process remains focused on the metrics of success rather than diverging from its intended purpose. Sporting organizations need focus in order to maintain their funding constituency. This comes in the form of ticket, merchandise, and television ad sales.
Furthermore, performance measures are important in regards to the overall benchmarking process. Performance measures provide a means of evaluation of both personnel and the strategic plan itself. With these measures of success management can better identify performance relative to strategic planning benchmarks. Also, through the use of performance measures, coupled with appropriate feedback mechanisms management can better ascertain initiatives. If performance is a substantial departure from management standards, organizational leaders can better determine what areas need improvement and coach to those specific areas. Through performance measures, management can identify opportunities or weaknesses with the overall strategic plan (Martin, 1998).
Communication is vital to the overall strategic process. It is important for management to streamline communication channels between senior and lower level management. This strategic plan would incorporate a seamless distribution of information to employees and leaders within the organization. In addition, employees can provide critical information in regards to improvement of the entire sporting organization. In many instances employees are the front line personnel of the organization. They can provide vital information that can be disseminated throughout the entire organization. This in turn, would make the strategic process more effective as individual are well aware of company goals and objectives. Goal setting in regards to communication is very important (Schweitzer, 2004). Sport managers must be able to articulate the expectations and goals of each team member within the organization. Sport Managers must also follow up with these expectations using the feedback mechanism mentioned earlier. It is through these means that communication can be the most effective. A useful tool is the balanced scorecard within the strategic planning, control, and feedback process. The scorecard accomplished all three aspects with great proficiency.
1) Martin, D.C. & Bartol, K.M. (1998). Performance appraisal: Maintaining system effectiveness. Public Personnel Management, 27(2), 223-230.
2) Schweitzer, ME., Ordonez, L., & Douma, B. (2004) Goal setting as a motivator of unethical behavior. Academy of Management Journal, 47, 422-432
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.
Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.
While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.
Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.
In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.
Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.
We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!
We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.
Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.
We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.
Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.
There is a very low likelihood that you won’t like the paper.
Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.
We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.
You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.
We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!
Place an order in 3 easy steps. Takes less than 5 mins.