66-703612 Researching Sport Management Assignment Sample
Module code and Title: 66-703612 Researching Sport Management Assignment Sample
Introduction
Football clubs have evolved into football businesses (FCs) (Zulch and Palme, 2017 $). The long-term financial stability of FCs has been increasingly emphasized in recent years, even though they have traditionally been described as utility maximizers by some (Sloane, 1971). In contrast to traditional businesses, FCs have increasingly been urged to focus on their athletic performance and long-term financial stability. According to Szymanski (2014), Premier League members’ profitability declined between 1986 and 2010 despite an average revenue rise of 16.7 percent during the same time. UEFA Financial Fair PlayRegulation (FFP) is one of the causes for the recent introduction of new European laws, such as the FFP (UEFA, 2015).
Critical analysis of a chosen argument
For many years, FCs’ economic and athletic aspects have intertwined in professional football. It has been shown by Biancone and Solazzi (2012) that enhancing a team’s competitiveness usually leads to an increase in the number of victories, which positively impacts the FC’s revenue streams through higher match-day sales, increased sponsoring revenues, and greater TV rights for example and strengthens its attractiveness among other players. To objectively measure significant success elements, these dimensions are filled with quantifiable KPIs (Key Performance Indicators). The effectiveness of a soccer club’s administration may be measured by how well it operates in all areas. As far as we know, this is the first exploratory investigation to identify, measure, and rank the most significant elements for efficiently managing FCs. Current research is focused on establishing a model that may be utilized in academic and professional contexts. The obtained material helps fill in the gaps in sports organizational literature by adapting current management literature to the characteristics of football. The remainder of the paper is arranged as follows: Section 2 offers a survey of the literature on major managerial components for professional football teams, encompassing the views of both program management and technology management.The theoretical framework for assessing the management quality of FCs is presented in the last section. Methodological approaches, such as the evaluation technique and data analysis methodology, are discussed in Section 3. In addition, this section examines the Bundesliga teams’ requirements for the 2016/17 and 2017/18 seasons. Section 4 concludes with an analysis of the FCs’ management quality levels. Conclusions, limits, and significant results are discussed in Section 5.
Use of a framework for strategic management
According to Vinck (2009), the Balanced Scorecard framework has shown to be a useful tool for traditional companies in determining relevant management dimensions. The strategic management literature has grown in tandem with the growth of the professional football industry’s economic development. The degree to which a company’s goals are met often determines whether or not its management is deemed effective. Because of this, it is vital to establish a set of metrics for measuring managerial Performance. It is clear that the goals of businesses are vastly different, and it is difficult to come up with a universal strategy. In the early 1990s, Robert S. Kaplan and David P. Norton created the Balanced Scorecard framework, which considered several variables and looked to be ideal for a wide variety of businesses. Rather than applauding a sole focus on financial metrics, the authors advocated a more holistic strategy that included financial and non-financial objectives.
The strategic control literature has grown dramatically in tandem with the financial development of the professional soccer industry, and numerous academic studies have been conducted, utilizing, for example, the so-called Balanced Scorecard framework (e.g., Vinck, 2009) because the latter has proven its suitability and Performance in determining the applicable control dimensions of conventional businesses. Indeed, whether or not a corporation’s control is considered a successor now no longer typically depends on its stage of goal attainment. As a result, it is critical to instill dimensions that control overall Performance may be examined. Corporate objectives vary greatly, making it impossible to provide a standard technique.In the early 1990s, Robert S. Kaplan and David P. Norton developed a framework that included the Balanced Scorecard, which takes several factors into account. They appeared fitting to include the perspectives of a wide range of businesses. The writers condemned the victorious overemphasis of economic performance indicators and advocated a more balanced approach to economic and non-monetary objectives. The Balanced Scorecard is “probably the best-known overall performance indicator.” The Balanced Scorecard is an effective concept for the issue for three primary reasons. To begin with, it was created for top executives to receive a thorough picture of the most crucial enterprise features, which is virtually exactly what this evaluation aims for, except this time from an outside perspective (Kaplan and Norton, 1992). Second, it is anticipated to be tailored to the different business or company-specific competitive situations, including the soccer enterprise inside the present case.
Third, it’s reasonable because it scores first in “most often employed control tools” among European businesses, enhancing this operating paper’s real-existence applicability. In one recent instance, a modified version of the Balanced Scorecard was used by Bundesliga membership VfB Stuttgart to increase the FC’s controlling and control abilities by adding wants and strategies in all dimensions and making accomplishments elements traceable. While this demonstrates the theoretical and practical value of internally professionalizing an FC’s control through implementing the Balanced Scorecard, this examination seeks to approach the problem from a strictly outside perspective. We will now examine the current literature to determine the management aspects appropriate in the professional soccer business.
Furthermore, the primary components of an FC’s carrying fulfillment are its players and coaches.
Fritz observed that investing in better-than-average players results in significantly improved overall Performance on the field. Furthermore, FCs benefit from a strong center crew: a small group of players who are quite familiar with their teammates and tactical formations is in charge of the majority of playing time. According to Audas, Fritz observed that the number of management dismissals negatively correlates with carrying fulfillment in the English Premier League. Higher variance explains why managerial tweaks made during the season result in superior carrying overall Performance. However, an intra-season extrude is undesirable from a strategic standpoint since the FC’s long-term development suffers.
Furthermore, Dawson and Dobson observed that inside the English Premier League, there is a high-quality association between a train’s profession factor ratio and the reduction of technical inefficiencies, which results in better carrying overall Performance in the long term. Training clubs, in particular, want to continually extend their player base to benefit from either more carrying fulfillment or increased switch income. The most systematic and comprehensive development strategy is to accompany players from the start of an inner FC teenagers program and support them in becoming a part of the professional crew. Bundesliga clubs have recently stepped up their attempts to seize this opportunity, virtually doubling their expenditure on academies from V62 million in 2006/07 to V177 million in 2017/18. Investments grew in absolute terms over this time and in terms of total costs, illustrating the growing relevance of developing players in-house. The DFL, which is in charge of organizing and marketing the Bundesliga, decided in 2001 that German FCs must execute youth academies to obtain a license to play in the Bundesliga. These are then often evaluated and authorized by an outside body. Two of the most important criteria in this certification procedure are Performance and permeability, which, among other things, measure the number of teenagers who make it to the expert team and the number of national teenagers who make it to the adolescent teams.
Financial overall Performance
The soccer literature is dominated by the widespread agreement that monetary objectives are followed in place of game goals. Because the Financial Perspective is already part of the standard Balanced Scorecard, there may be no need to change it. Keller is used to evaluating the interconnectedness between game and financial perspectives dramatically. Indeed, an increase in wearing overall Performance is accompanied by an increase in overall monetary Performance as a result of factors such as increased vending and TV sales or new sponsorship deals.The resulting monetary resources may then be applied for investments inside the group’s squad or young people academy, resulting in greater wearing overall Performance beneath normal circumstances. As a result, the game and economic dimensions form a spiral that may spin in both ways, upward and downward. For example, Rohde and Breuer provide evidence for the enormously beneficial influence of wearing overall Performance on sales by studying the top 30 EU FCs (mainly based entirely on sales). Simultaneously, the statistics indicate improved overall sporting Performance in terms of league factors per game due to extra group investments, which are permitted by employing an increase in sales.However, the relative importance of the two dimensions isn’t always the same, which has made medical research difficult.
Governance and leadership
German FCs typically have a government and a supervisory board, which may be different organisations. In this regard, the Bundesliga golf equipment differs from that of several European opponents. These tools combine executive and supervisory functions into a single board of directors. Dimitropoulos and Tsagkanos demonstrated a significant positive impact on economic Performance from increased board length and independence. These findings, which are consistent with the overall control literature, support the notion that the overall control criteria of management and governance also apply to FCs. Furthermore, Justus assigns the most importance to the government and supervisory board component in their Bundesliga club governance assessment technique, emphasising the importance of the two management entities.Typically, government and/or supervisory forums include FC owners, who need to keep track of decision-making processes and have a role in important strategic movements.
Critical analysis of a methodological aspect
The balanced scorecard as underlying framework
The findings of the previous literature review about football club management form the foundation of our investigation. A preliminary evaluation framework was constructed as a result of the in-depth theoretical investigation, and discussions with industry experts could be built on that framework.
Figure 1- Managerial dimensions of football clubs Source- (Bauer et al., 2005)
Validation using expert interviews.
Ten industry experts were interviewed between February and March 2017 in order to enrich the theoretical with practical knowledge and validate the findings. As for how and when questions are asked and how the interviewee responds, semi-structured interviews had predetermined questions or themes. These new ideas and expertise were taken into account by using this method for the interview. Interview partners included high-ranking executives from financial institutions (FIs), the media, and other $ external stakeholders. The German phone interviews lasted at least 36 minutes (Kaufmann2016). An evaluation framework was presented to those being interviewed and comment was requested on the model’s completeness, relative importance, and specific recommendations for measuring subcategories. They also gave their thoughts on the design of the model. Trainers then gave each individual weights in all four dimensions. The theoretical foundation was then revised based on their input. With the use of both sources of information, we came up with the final assessment model.
Football management evaluation framework (FMEF)
FMEF has four dimensions, each of which contains three subdimensions, as previously established. According to the extensive literature review outlined in the preceding section, the authors based their own perceptions of the relative importance of each dimension on the average relative importance offered by all experts interviewed. Both the final value and the final score are decided by these two factors, known as the Football Management (FoMa) Q-Score. For the most part, the margin of disagreement among experts and authors was no greater than 6 percent. Despite this, the authors feel academic literature places a higher emphasis on financial performance and leadership and governance than on sporting achievement and fan welfare maximisation (Becsky, 2011). Sporting Success, Financial Performance, Fan Welfare Maximization, and Leadership and Governance comprise 40%, 25%, 17.5, and 17.5 percent, respectively, of the characteristics in the middle course. With the second distribution, we were in line with what we’d learnt from the sport management literature. The FMEF’s subdimensions are briefly discussed before the KPIs are added.
Sporting Success emerged as the most critical factor in expert interviews and the writers’ review of the literature. The most essential component in a football club’s financial stability is on-field success, as measured by team and individual performance as well as coaching quality. This has resulted in it being a major factor in the FoMa Q-Score (40 percent ). The subcategories of this statistic include team performance, player/coach qualities, and player development. Growth/Profitability, Branding, and Internationalization are all factors that go into calculating the FoMa Q-Score. current and previous seasons’ sporting performance is expected to have a significant impact on the revenue of FCs due to the increased media revenues and new sponsors that come with a higher season-end ranking (Fanpage Karma, 2018). Because of this, the 25% weight provided to financial performance appears to accurately portray the significant interdependence between sporting success and financial performance established in the existing corpus of academic work. To summarise, Fan Welfare Maximization accounts for 17.5 percent of the total FoMa Q-Score, while Leadership and Governance accounts for the other 17.5 percent.
Philosophical position of paper
According to much of the football literature, athletic and financial goals are intertwined. There is no need to update the Financial Perspective since it is already included in the standard Balanced Scorecard. As a result of several factors such as increased retail and television earnings or new sponsorship deals, an improvement in sporting performance is often accompanied by an improvement in financial success (Ispo, 2018). A team’s squad or young academy can benefit from the resulting financial resources, which in turn can be utilised to improve sporting performance. When athletic and financial aspects are combined, the result is a spiral that is able to spin in both directions. Data also shows that increased club spending, backed by increased revenue, lead to improved sporting performance measured in league points per game. Scientists have looked into this, however they have found that their findings about the relative importance of each dimension are not always consistent. Professional Football Clubs (FCs) are more concerned with winning than making money, according to a sophisticated statistical model that analyses the behaviour of FCs. Optimizing business-related concerns becomes increasingly important in the long run, while still being subordinated to athletic performance, hence.
FCs’ finances are scrutinised every year by the DFL in Germany, along with those of junior academies. Additionally, the evaluations of income statements and balance sheets are crucial elements in the evaluation of FCs’ ability to sustain professional club operations, among other things According to some scholars, financial institutions (FCs) aren’t interested in making a fortune, but rather in ensuring their long-term viability. By operating profitably and so being able to respond to unexpected changes, or by having an investor on board who balances out any financial losses (Fußballmafia, 2018). Although the Financial Fair Play regulations, which are applicable to all clubs participating in international competitions and so have a considerable impact on the majority of Bundesliga clubs, have featured a “break even” alternative since 2014. The ability to spend in the team and infrastructure, as well as the ability to do so in a financially sustainable manner, is critical to the success of FCs. Football clubs’ financial performance is closely linked to their brand in the industry. a positive impact on a company’s financial performance is had by the “added value” that a brand provides to a product or service. The financial performance of a company can be predicted in large part by factors such as brand awareness, which takes into account factors such as recall and recognition. Another study shows that brand equity characteristics, such as customers’ associations with a club (brand image), significantly increase fan loyalty, an essential part of the Fan Welfare Maximization dimension. Brand image building and maintenance are seen as essential in this perspective (Kaplan and Norton, 1996). As FCs look to grow into international markets, the conversation around transparency and branding is likely to gain traction in the near future. For football clubs, the primary goal of participating in events outside of their home country is to establish and maintain a worldwide brand, which may be used to secure sponsorships and raise merchandising revenues. International teams, like as Borussia Dortmund in Singapore and FC Bayern Munchen in New York City, have already begun opening offices of their own around the world. Eintracht Frankfurt, for example, is one of the smaller clubs that has previously taken use of an internationalisation plan. Aside from the club’s physical presence in the market (such as training camps), there are four ways to access new markets: digital media use, cooperation with global sponsors, and assistance for local youth development programmes (such as local football schools).
Conclusion
For the purposes of the FoMa Q-Score comparison, the FCs are the only scale units that are relevant. Because of this, the FoMa Q-Score is shown in absolute terms. For each (sub-)dimension a given FC achieved a certain number of points in proportion to the overall number of points that might have been achieved. As a result, reporting these numbers in relative terms makes more sense. Colors have been used to make the table easier to understand. Each column’s greatest and lowest values are represented by deep green and deep red, respectively. Green filling increases in intensity as values near the upper (lower) end of the scale (red). A filling with a yellow colour indicates a value that falls somewhere in the centre of the two extremes. As a result, it’s simple to spot anomalies and trends that need further investigation. Aside from that, the clubs are divided into four groups based on the traditional results of a Bundesliga season. There are really only two outcomes for FCs in Germany: either they are promoted to the Bundesliga’s Second Division, or they get kicked to the Second Bundesliga’s Third Division. As a result, the four divisions are known as the Champions League, Europa League, Midfield, and Relegation Divisions respectively. FC Köln drops to position 11 at the end of the year. Indeed, the team, who placed fifth in the Bundesliga last season, was demoted to the second tier following a disappointing season.
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