Instructions*** You will reply to 2 classmates’ threads. At least 1 paragraph in

 
 
 

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Instructions*** You will reply to 2 classmates’ threads. At least 1 paragraph in

Instructions*** You will reply to 2 classmates’ threads. At least 1 paragraph in length. They must be on the same page but LABLED WHO’s is WHOSE. The first paragraph should be labeled (Rosita Fregoso)and the other one should be labeled (Bradley Sullivan)**** 1. Do you agree or disagree? 2. Why or why not?
Rosita Fregoso
There are several Sport Facilities that I am familiar with since I am an avid sports fan, and a multi-sport at that. Growing up in Chicago, I loved watching the Bulls and the White Sox play, and I watched both of these organizations change sports facilities in my youth. When Michael Jordan first came to the Bulls in 1984, they played in the old Chicago Stadium, but as they Bulls became more famous and were a championship caliber team, the old Chicago stadium was demolished in 1995 and the new United Center was built, this sports facility is still standing but it’s also the home to the NHL Hockey team- Chicago Blackhawks as well as the Chicago Bulls.
The first area of running the business is knowing who your main sponsors are, along with safety features of the structure. For example, the new Chicago stadium was built to accommodate Spectator boxes and Executive suites, along with more spectator safety features, and it was named after United Airlines since it was it’s main sponsor. According to Business Insider’s Ira Kalb, USC’s Marshall School of Business, he states that “Marketers know that putting a name on a venue (if there is no negative association with the place) can make billions of positive brand impressions in the minds of potential buyers”. The more their name is in the television, or social media pictures, the more stadium owners “are more than happy to sell the naming rights as a way to generate significant additional revenue.” (Kalb, Ira., 10 April 2013). Furthermore, Jeff Nelson, director of analytics for Navigate Marketing, Inc., said corporations in general are prepared to pay much higher prices for arena and naming rights because they now involve much more exposure than would have been the case 20 years ago. “Sports events of all sorts are now widely seen and very popular on television,” said Nelson in an interview. (Lazare, Lewis., 13 Dec 2013)
The reason I bring up name brands, it’s because they are major contributors to the team and owner’s pocket books. For example, a report in the Chicago Business Journal detailed that United airlines paid over $100 million for the next 20 years for the stadium’s naming rights. Along with sponsors, running the business of the sport facility also requires great deal of financial skills for effective performance, from beverage companies, food chains inside the stadium, to running security companies, all require money to operate within the stadium. Therefore a facility manager that knows the day to day operations inside the facility is key.
Third but not least, entertainment, lighting, and hiring new talent for important games is also a significant aspect that involves having financial skills. This is mostly because, entertainment is not cheap, and good talent is always worth the money, while also having a stadium that is known for its atmosphere is what gives its fans the ultimate experience hence they keep coming back, or even better, buy season tickets because of the stadium experience. Ultimately, a facility manager should be skilled on financial management, socially aware of the atmospherics of the attendees, and surround themselves with a team that knows the day to day operations of all inside business within the stadium.
Instructions*** You will reply to 2 classmates’ threads. At least 1 paragraph in length. They must be on the same page but LABLED WHO’s is WHOSE. The first paragraph should be labeled (Rosita Fregoso)and the other one should be labeled (Bradley Sullivan)**** 1. Do you agree or disagree? 2. Why or why not?
Bradley Sullivan
When running a sports facility, there are several things that go into successful execution. Theres a D1 sports facility around the corner from me in Dallas. It is a large sports training facility. They will train high school and college athletes in specific sport training activities. This is a business that involves many financial decisions and outcomes that are important for the owner to be successful.
Staff and labor costs can be the part of overhead that can make or break a business. Being appropriately staffed is a must to ensure the facility runs correctly. This place seems to have a lot of turnover. It is imperative to have enough money in the budget to cover the staff and their payroll. D1 training strives to provide the best training staff, with the top of line training facility. It is important for the manager figure what he/she can do to predict staffing and labor costs for the year. Being able to analyze past years staffing needs will better prepare the budget.
This leads us into the annual budget. A budget will help set a guideline to follow so a facility won’t over spend and can produce the best profit as possible (Schwarz, Hall, & Shibli, 2020). D1 budgeting seems to be challenging when looking at new memberships, new programs, new staff, maintenance and supplies. Seems that covid protocol has severely altered the state of their business. It is important for managers to ask themselves what are the most important factors that are required when developing, updating and finalizing the annual budget.
Maintenance and supplies will be a huge factor into the budgeting of a facility like D1. This portion would have to be done working with the head of maintenance to calculate regular upkeep and upcoming major repairs. There will also need to factor in supplies here. Anything from machines, weights and turf. The financial skills here will be dialing in on the common prices and planning for the unseen. It will be important for the manger to be in touch with the facility to be able to get the costs correct.

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