SPMA 1P91 Lecture 13: Lecture 13 Notes
7 Apr 2017
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Finance and economics in the sport industry lecture 13 notes- march 21, 2017. Financial management falls into two broad areas : determining what to do with your current money. Ex: a health club produces a bigger-than-expected profit. Does the owner : determining how to get more money. Ideas: get customers to spend more, borrow money from a financial institution, ask the government for some, seek new investors to provide it, form strategic alliances. Our society doesn"t have the resources to satisfy everyone"s wants and needs. Economics is the study of how people deal with scarce resources. Sporting events/facilities can bring scarce resources (money) into a region. Economic impact analyses can be very, very political. People wanting an event to happen may overestimate the economic impact; against it might underestimate it. Determining what to do with current financial resources. Determining how to procure additional financial resources. Two keys roles of a financial manager is:
