Strategic Planning for Effective Sport Managers Essay

Pages: 3 (785 words)  ·  Bibliography Sources: 1  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business - Management

Sport Management

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.Download full Download Microsoft Word File
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TOPIC: Essay on Strategic Planning for Effective Sport Managers Assignment

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… [END OF PREVIEW] . . . READ MORE

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"Strategic Planning for Effective Sport Managers."  Essaytown.com.  September 28, 2012.  Accessed September 26, 2021.
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