Academic Master

Business and Finance, Sport

The Protection Of The Interest Of The Stakeholders Who Are Interacted With The Sports League

Introduction

The report we are writing about is based on the protection of the interest of the stakeholders who interact with the sports league either directly or indirectly because the mostly sports league in which competitive matches between multiple teams take place and the major purpose of the matches is to generate the profit for the team owners that is why the team owners normally invest on the teams. The purpose of the research is to define the problem statement that sometimes, in the league, the interests of all stakeholders are not properly identified, and that is unethical, so we will define the framework to overcome that issue. Sometimes, the events are not that successful, so the team management does not take care of the interests of the stakeholders, and still, there is no proper framework for the stakeholders that can protect the interests of stakeholders instead of jeopardizing the environment of the leagues (Comeaux, 2013).

When we run a sports league or competition, there should be appropriate principles and strategies so that the event would be smoother and there would be no difficulties during the entire event. Those principles should be defined by the country’s core government management. The sports competition is basically an opportunity for the specific game to make the interest of the fans and the promotions by the existing media. The leagues broadcast extensively all over the country, which means that there would be a huge investment in those events. The best events can be identified in which the rights of the stakeholders are initially defined so that the flow of the work in the sports event will be smoother and no difficulties can take place in that scenario. But nowadays, the team owners only think about the profit, and they do not care about the interests and the rights of the other stakeholders, which would never be a good step because only the team owners do not interact with the league, but all stakeholders, like media and the ground management are involved in that. So, the basic purpose of the research is to find the major reason for that kind of issue so that we can provide the entire solution for that (Flagestad, 2002).

We will briefly discuss the issue and what steps a government should take so that the flow of sports events can be better in terms of business and analysis. The stakeholders are the main part of the league because the backend setup is completed by all the stakeholders who are involved in the event so that they can get their interests and rights as well.

Background

Sports leagues take place all across the world nowadays, and sports are a very important factor in terms of revenue because people are interested in several games. That is why people visit the grounds, where they can access the sports leagues as spectators. For a better setting of events, all stakeholders should perform their activities so that they can have an idea about the entire sports event. We take the example of the broadcasters as we know that the broadcasters play an important role in the industry of sports, but the team’s owners and the players sometimes want to make more and more profit so that the interests of the other stakeholders may get loose into the sports event and that factor will affect the rating of that competitive match or a tournament. We all know about the FIFA events are the most successful events in the world the reason behind the success of that events actually based on the core satisfaction of the stakeholders (Esteve, 2011).

The reason behind the issue is that some negative people want to make some illegal money by not paying the amount to all stakeholders who are involved in the development of the sports league either directly or indirectly in the events, so most of the events are not that successful. The government should take the appropriate steps to protect the rights of the stakeholders, such as the sports clubs and the management, but unfortunately, there is no proper framework for that kind of issue. Sports are always the main factor in the success of countries so that we can have appropriate information about sports. Sometimes, the events are not that successful, so the team management does not take care of the interests of the stakeholders, and still, there is no proper framework for the stakeholders that can protect the interests of stakeholders instead of jeopardizing the environment of the leagues. The researchers have described that for complete and successful events, the organization should take care of the stakeholders at a level so that the events will be more and more successful. The successful events also affect the reputation of the country, so the issues should be resolved in the sports industry. So that only the team’s interest or the sports team owner’s interest is not only affected, but the interests of all stakeholders would be effective for the sports events (Friedman, 2004).

Key Issues

Stakeholder identification is not very easy to define, so when we run a proper system for the stakeholders in the market sports, we need to identify the core stakeholders so that we can define the rights of those stakeholders. The definition of a stakeholder is based on the person who interacts directly or indirectly with the sports. On other hand some stakeholders invest on the leagues to get the profit while the other stakeholders are basically workers of the league but the team owners only think about their own profit which is not a good sign for the complete and the core implementation of the events. The government should take the appropriate steps to protect the rights of the stakeholders, such as the sports clubs and the management, but unfortunately, there is no proper framework for that kind of issue. Sports are always the main factor in the success of countries so that we can have appropriate information about sports. The researchers have described that for complete and successful events, the organization should take care of the stakeholders at a level so that the events will be more and more successful. The successful events also affect the reputation of the country, so the issues should be resolved in the sports industry. So that only team interest or the sports team owner’s interest are not only affect but the interests of all stakeholders would be effective for the sports events. Some noble scholars have described the mindset of the Entrepreneur as a personality that must have the ability to innovate new inventions in recent times. The implementation of technology has been optimized by the ideas of the entrepreneurs in the market as well, and the entrepreneurs should be aware of the mindset of the people because, to be a successful entrepreneur, the services should meet the needs and the desires of the people which will help the entrepreneurs to groom their business in a very authentic way. The Entrepreneur’s personality should be collaborative with the employees of the business so that the outcome will be more positive in terms of business and the administration. Sometimes, to be successful, Entrepreneurs should not give priority to profit so that they can optimize the services they are providing to the market. Instead of only thinking about money, entrepreneurs should think about new ideas and their realizations so that they can be more successful. All we need to do is to set the appropriate mindset for the business and the administration. Entreprenuers should have the extensive knowledge about the needs of the market so that they would provide the optimized ideas for filling the gaps in the environment by generating the new ideas into the market.

Successful leagues are becoming more famous all across the world because they perform all the activities by satisfying all the stakeholders involved in the events. The sports competition is basically an opportunity for the specific game to make the interest of the fans and the promotions by the existing media. The leagues broadcast extensively all over the country, which means that there would be a huge investment in those events. The best events can be identified in which the rights of the stakeholders are initially defined so that the flow of the work in the sports event will be smoother and no difficulties can take place in that scenario. But nowadays, the team owners only think about the profit, and they do not care about the interests and the rights of the other stakeholders, which would never be a good step because only the team owners interact with the league, but all stakeholders, like media and the ground management, are involved in that. So the basic purpose of the research is to find the major reason of that kind of issues so that we can provide the entire solution for that. For a better setting of events, all stakeholders should perform their activities so that they can have an idea about the entire sports event. We take the example of the broadcasters as we know that the broadcasters are playing an important role in the industry of sports, but the teams owners and the players sometime want to make more and more profit so that the interests of the other stakeholders may be lost into the sports event, and that factor will affect the rating of that competitive match or a tournament (Jensen, 2013).

The government should define the policy that they would take responsibility for the core stakeholder’s rights so that they would work with more interest in the event. A proper policy should be designed by the government for the rights of the stakeholders so that the sports events will be more successful instead of jeopardizing those specific events.

Outcomes

If the government takes the appropriate steps for the rights of the stakeholders, such as the ground management and the media rights, the outcomes will be more positive in that kind of event. The ICC (International Cricket Council) is considered the best event organizer in the world because it takes care of the rights of all stakeholders involved in the events, which is why their events help the stakeholders generate good revenue. On the other hand, some organizations only think about their profit of their own which is why the event becomes jeopardized, which is the most negative factor in the entire event organization. The stakeholders have an important role in any organization, so their rights should be the first priority for the event organizations. So, the outcomes of the events depend on the management and government policies.

Conclusion

We have discussed the whole issue and the reason behind the issues that the government should take the appropriate steps for the rights of the stakeholders, such as the sports clubs and the management, but unfortunately, there is no proper framework for that kind of issue. Sports are always the main factors in the success of countries so that we can have appropriate information about sports.Sometimes the events are not that much successful so that the team management do not take care about the interest of the stakeholders and still there is no proper framework for the stakeholders which can protect the interest of stakeholders instead of jeopardizing the environment of the leagues. The stakeholders have an important role in any organization, so their rights should be the first priority for the event organizations. So, the outcomes of the events depend on the management and government policies.

References

Comeaux, E. (2013). Rethinking academic reform and encouraging organizational innovation: Implications for stakeholder management in college sports. Innovative Higher Education.
Esteve, M. D. (2011). Empirical evidence of stakeholder management in sports clubs: the impact of the board of directors. European sport management quarterly.
Flagestad, A. (2002). Strategic Success and Organisational Structure in Winter Sports Destinations: a multiple stakeholder approach to measuring organizational performance in Scandinavian and Swiss case studies. ETOUR.
Friedman, M. T. (2004). A stakeholder approach to understanding economic development decision making: Public subsidies for professional sport facilities. . Economic Development Quarterly.
Jensen, M. C. (2013). Value maximization, stakeholder theory, and the corporate objective function. Journal of applied corporate finance.

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