Chapter 4 Sports and Entertainment Management – Flashcards
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Lesson 4.1
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Managing Local Events
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Business Plan
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Events that indicate goals and objectives.
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Budget
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Specific financial plan that assists managers in determining financial resources.
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Marketing Plan
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Description of all marketing activities that must be accomplished.
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Financial Plan
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A type of plan that includes project income, expenses & profit for an entertainment event.
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Hotels
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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.
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Section 4.2
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Managing College Events
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Natural Resources
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Four factors of production that includes water, air, & climate.
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Supply
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The amount that will be offered and produced at different prices.
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Utility
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The ability of a service or good to satisfy a want.
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Place Utility
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The type of economic utility for the Rose Bowl Parade includes LOCATING the event in Pasadena, California.
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Possession Utility
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The type of economic utility for the Rose Bowl includes BUYING A TICKET in order to watch the event.
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Lesson 4.3
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Managing Professional Sports
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50-60 Hours
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Management positions in pro sports usually requires many hours for a work week during a season.
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Community
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Pro Sports teams must demonstrate a commitment in order to increase good publicity for their teams.
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Kid Clubs
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Sports franchises will set up these in order to keep children interested in their sports.
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Markerting/Promotions Director
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A management job which involves advertising and having giveaways at games.
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Facilities Coordinator
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A management job that involes running a stadium or arena.
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Lesson 4.4
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Managing Other Events
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Brand Marketing
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The process of creating that differentiates an organization from its competitors.
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Span of Control
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The number of employees that a manager supervisors directly.
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Upselling
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Selling additional products to customers beyond the initial purchase.
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Proforma
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A financial document that projects attendence & revenue to sucessfully undertake an event.
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Shoulder Periods
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Slow periods that require creative marketing strategies to bring in more business for a theme park or venue.
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Pot luck
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Jeopardy
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Flattened Organization
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A type of organization that has fewer levels of managemet & the biggest benefits come from improved communucation & cooperation between departments.
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Time Utility
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A type of economic utility for the bowl game includes having the event on January 1st every year.
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Unity of Command
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Employees report to only one supervisor at a time.
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Decentralized
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Divides the business into smaller operating units, giving managers & supervisors more responsibility.
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Matrix Organization
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Has businesses form temporary work teams for solving tasks.
