creating, owning, and operating a business

Sports and Entertainment Marketing© Thomson/South-Western

Chapter Chapter Chapter Chapter

Creating, Owning, and Operating a Business 14.1 Entrepreneurship and Business 14.1 Entrepreneurship and Business

Ownership Ownership

14.2 Managing Human Resources 14.2 Managing Human Resources

14.3 Safety and Security14.3 Safety and Security

14

Chapter 14Slide 2


Winning Strategies

Aaron Lee Jakub is a professional angler. More people fish than play tennis and golf

combined. The number of fishing competitions is

growing rapidly. Aaron is trying to find sponsors that will

support both his passion for fishing and his love of working with children.

Reeling in a Professional Career

Chapter 14Slide 3


Lesson 14.1

Entrepreneurship and Business Ownership Goals Define entrepreneur and describe

characteristics of successful entrepreneurs.

List and describe the key elements of a business plan.

Chapter 14Slide 4


Terms entrepreneurs business plan sole proprietorship partnership corporation

Chapter 14Slide 5


THE IMPORTANCE OF ENTREPRENEURS

entrepreneurs individuals who take the risk of starting,

owning, and operating a business

Chapter 14Slide 6


Impact of Entrepreneurs

In the U.S., there are more than 5.8 million small businesses that contribute billions of dollars to the economy annually.

Nike was begun as a small business.

Chapter 14Slide 7


What It Takes to Be an Entrepreneur Business goals must be set.

financial nonfinancial

Strong money management skills are necessary.

Cash reserves sufficient to carry the entrepreneur through the first lean years are necessary.

Chapter 14Slide 8


written oral interpersonal

“You only get one chance to make a positive first impression.”

“Thank you!”

Entrepreneurs need effective communication skills.

Chapter 14Slide 9


List five characteristics and skills required to be a successful entrepreneur.

Chapter 14Slide 10


THE BUSINESS PLAN

business plan a formal, written document that provides

the details for a proposed new business

stakeholders investors lenders suppliers

Chapter 14Slide 11


Key Elements of the Business Plan executive summary

a brief description of the business idea

business description history and background of the business

idea short- and long-term goals products and services that will be offered

Chapter 14Slide 12


market research strategies

marketing pricing advertising promotions

business structure ownership structure

marketing plan

Chapter 14Slide 13


owned and operated by one person

partnership two or more individuals sign an agreement

to own and operate a business together

corporation business ownership represented by shares

of stock

sole proprietorship

Chapter 14Slide 14


owners of a corporation operations management

the roles of key managers and staff members

financial forecast current and projected financial statements

schedule deadlines for specific milestones

stockholders

Chapter 14Slide 15


List seven key elements of a good business plan.

Chapter 14Slide 16


Lesson 14.2

Managing Human Resources

Goals Explain the need for human resources. List and discuss the four functions of

human resource departments.

Chapter 14Slide 17


Terms human resources job analysis probationary period salary fringe benefits cafeteria plan

Chapter 14Slide 18


THE IMPORTANCE OF HUMAN RESOURCE MANAGEMENT human resources

the employees who work for an organization

Chapter 14Slide 19


Attracting and Keeping the Best The human resource department needs

to match the right person to the right job. The human resource department

identifies personnel needs attracts and maintains an adequate supply

of employees matches abilities and interests with specific

jobs

Chapter 14Slide 20


develops compensation plans protects employee well being maintains a satisfying work environment

provides training and development

Chapter 14Slide 21


Why is the human resource department so important for an organization?

Chapter 14Slide 22


FOUR FUNCTIONS OF HUMAN RESOURCE DEPARTMENTS

Planning and Staffing The planning process involves

examining the company’s current and future personnel needs.

job analysis the study of a specific job to identify the

duties and skill requirements of the job

Chapter 14Slide 23


individuals with a long-term commitment to continue working for the business as long as the business remains profitable

part-time workers employees in permanent on-going jobs

who work less than 30 hours per week

permanent employees

Chapter 14Slide 24


workers hired for a short time to complete a specific task

outsourcing or subcontracting specific tasks are completed by individuals

who are not employees of the company

temporary employees

Chapter 14Slide 25


a document that “sells” a job candidate’s qualifications

application letter accompanies a resume must capture attention of employer

resume

Chapter 14Slide 26


Performance Management

probationary period a test period of a few months to determine

if the new employee will fulfill the needs of the organization

Performance evaluations determine whether the employee is meeting the job requirements.

Chapter 14Slide 27


Compensation and Benefits

salary annual job compensation

regardless of number of hours worked

incentive pay compensation based upon the quantity

and quality of completed work

Chapter 14Slide 28


extra incentives beyond salary and wages that employers are not required by law to provide

cafeteria plan employees pick and choose from various

benefit options to best meet their needs

On average, fringe benefits comprise 20% - 40% of employees’ salaries.

fringe benefits

Chapter 14Slide 29


Employee Relations

The human resource department: provides workplace orientation helps with dispute resolution protects employees’ rights and well being

Chapter 14Slide 30


Explain the importance of job analysis.

Chapter 14Slide 31


Lesson 14.3

Safety and Security

Goals Describe risks and safety strategies at

concert events. Describe increased security measures

at sporting events.

Chapter 14Slide 32


Terms crowd surfing stage diving moshing

Chapter 14Slide 33


SAFETY RISKS AT CONCERTS

Large crowds can present safety problems. Accidents at public events can result in

serious injury.

Chapter 14Slide 34


Risks at Concerts

Overcrowded events can result in: trampled fans compression asphyxia

an intolerable pressure that prevents individuals from breathing properly

Chapter 14Slide 35


when a person is lifted above a densely packed crowd and is passed from person to person above audience members’ heads

injury can result clothing, including studs, can scratch and bruise

fans when a surfer falls

other audience members fall too people can get trampled by the crowd

crowd surfing

Chapter 14Slide 36


when a performer or fan dives from the stage into the crowd

moshing a frenzied form of dance in which people in

a circle rotate while simultaneously slamming into each other

stage diving

Chapter 14Slide 37


when fans jump up and down in the mosh pit

75% of surveyed concert attendees revealed: they feared for their safety during an event they received injuries during an event

mosh-bobbing

Chapter 14Slide 38


Managing the Risks

assigned seating safety and emergency training for

venue personnel bans on:

crowd surfing stage diving

third-time-out rule

Chapter 14Slide 39


Fan Precautions

Concert attendees need to proactively plan for their own safety. Arrive early to familiarize yourself with the

venue’s layout, emergency exits, and first-aid locations.

Plan with friends where to meet if you become separated.

Avoid the front of the stage.

Chapter 14Slide 40


Avoid crowd surfing, stage diving, and moshing.

Leave early to avoid the rush.

For outdoor events, be aware of weather forecasts and observe changing conditions.

Chapter 14Slide 41


Why are concerts and sporting events at risk for accidents?

Chapter 14Slide 42


INCREASED SECURITY AT SPORTING EVENTS Terrorism, 9/11, and unpredictable

human behavior are all reasons for increased security at sporting events.

Chapter 14Slide 43


Security Plans at Ball Parks and Stadiums Large-scale gatherings have

contingency plans in place for natural disasters terrorist attacks

Stadium personnel rehearse safety procedures. how to remain calm during a disaster

Chapter 14Slide 44


restricting items that are allowed into the venue

limiting curbside access to handicapped individuals

close-circuit security televisions wireless network security to patrol large

areas surrounding an event

Additional proactive measures at major sporting events include

Chapter 14Slide 45


Replacing Police with Wireless Video Cameras New York City spent $9 million to install

500 security cameras throughout the city.

Chicago spent about $5 million on a 2,000-camera system.

$9.8 million is budgeted to install surveillance cameras and sensors on a rail line in Washington, D.C.

Chapter 14Slide 46


Why should sporting event planners be concerned with security?

Chapter 14Slide 47


PERFORMANCE INDICATORS EVALUATED Understand the latest safety trends at

amusement parks. Describe the responsibility or liability for

consumer safety at an amusement park.

Chapter 14Slide 48


Explain how safety at amusement parks is a publicity issue.

Describe the conflict between maximizing profit and incorporating all safety measures.

Explain the importance of “caveat emptor” at an amusement park.

Chapter 14Slide 49


THINK CRITICALLY

1. Why must amusement parks rank safety as a top priority?

2. Should an amusement park be held liable for injuries suffered by guests who carelessly do not follow rules? Explain your answer.

Chapter 14Slide 50


4. How does the topic “Safety at Amusement Parks” involve ethics issues?

3. Why are some attorneys interested in personal injuries and deaths suffered at amusement parks?

creating, owning, and operating a business

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