Economics of Sport Essay Example for Free

Economics of Sport Essay 1. Introduction: This report will overview and discuss how stakeholders in professional sports can get as much as they want out of the sport, without too much involvement from the government. It will also cover some of the purposes of government-intervention and what they should do to keep the competitive balance intact for the leagues. There will be examples and discussions drawn from clubs and leagues in the European Soccer and also differences between how sports leagues on either sides of the Atlantic ocean works in this matter. The importance of keeping stakeholders happy is the key to on-pitch success. Stakeholders in sport are everybody involved with sport; participants (players/athletes), fans, governing bodies, financial investors and communities at large. 1.1 Background: Since the early stages of the discussion and the involvement of the economics side of the field of sports, Naele (1964) identified professional sports leagues as a different animal than any other competitive industry in the world we know today. The main focus for professional sport leagues is to provide and compromise teams to a highly competitive level where they can produce and sell sporting events to the public (Fort Quirk, 1992). Similar individual teams make up a professional sports league, that all relies to gain the maximum of economic benefits as possible while relying on the opportunity to compete against other teams to produce their outputs; the outcome will be games for the fans to enjoy. Without an organised structure of games and tables, the competitive output would not exist for sports leagues or its fans. Naele (1964) also claims that there is one main difference between a typical competitive business industry and the sports industry. He says that a normal industry gains the most economic and capital benefits while it faces the least amount of competition as possible. Simply put, the businesses are seeking to be the only supplier to the market to become the market leader and in that way earn money. This is not a preferred position for any professional sports league or team, while they rely on other teams and leagues to produce a product of outcome to make a sustainable business out of it. 1.2 Why do clubs either focus on winning or maximising profits? Models often used to discuss how sports leagues tend to behave are primarily the trend if club owners either aims for maximise profits (El-Hodiri Quirk, 1971) or wins (Kà ©senne, 2000). It is seen that the North American major sports leagues and the European leagues supports the assumptions that clubs uses a trade-off point of profit and wins (Atkinson, Stanley, Tschirhart, 1988). The most optimal for leagues and clubs should be to aim towards finding a model that balances the weighted sum of profit and wins (Dietl, Grossmann, Lang, 2011). Therefor we sometimes see teams and leagues that work after gaining profit and economic benefits for survival, and on the other side we see the teams and leagues that works towards winning as their main goal and business objective. Some owners of team are even willing to lose or invest money to build a winning team in the long run (Fort Quirk 2005). 1.3 Where does the government fit in to the market of sports? There are two main reasons why governments intervene in sports: efficiency and equity (Andreff, 2001). Efficiency reports to the allocation of production resources. That involves sharing and allocation of who does what, how will it be done and where it will be produced. In other words, government and state supplies the right people and funding so that sport production from all levels are made as efficient as possible. Equity on the other hand are concerned how the distribution of the market will benefit and gain throughout society (McWha, Smith, Clarke, 2000). Meaning that the government and state joins up to gain the participation and enrolment of sport from youth and grassroots levels so that as many as possible can get the chance of getting involved with sports programs. Government tends to use sports funding to gain a bigger and broader social wellbeing and strengthen national identities while gaining and providing the country with more talent and more competitive power on an in ternational scale (McWha, Smith, Clarke, 2000). Government bodies also ensure that rules are followed and that the regulatory framework for how the organisations operate are followed correctly. 2. Key Issues The sports culture between Europe and America varies a lot. All from regulating, formatting and design and managing are way different from each side of the Atlantic. The way that the American sports leagues are formed is that they are built as independent organisations which has an entry barrier through franchise sales. This means that a new entry to the league is only possible if a current team is for sale of if the league are in a need of open up for expansion (Cain, Louis Haddock, 2005). In Europe they use an open model, which is seen as a hierarchical structure where entry relies fully on a promotion/relegation system (Andreff, 1989). 2.1 European Football Football is by far the world’s most popular sport with over 3.5 billion fans worldwide (Dunning, 1999) The English Barclays Premier League had in the season of 2009-2010 revenues worth of  £2.1 billion, which by then was a record for the league (Conn, 2011). Now a few years later, a new broadcast deal has been signed and together with the worlds most expensive regular tickets prices, the revenues will be worth nearly  £5 million (Pantanella, 2012). With an promising and an substantial uplift of the already massive broadcast deals of the 2013/2014 season, the English Premier League will account for more then the half of the top 20 clubs with the highest revenue of Europe (Bosshardt, Bridge, Hanson, Shaffer, Stenson Thorpe, 2013). From the roots, the clubs throughout Europe is voluntary organisations. But with the new age of media, commercialisation and globalisation; the bigger and the dominant clubs are more seen as business entities with capital, a vision of profit and the responsibility of results for the fans (Boyle Haynes, 2004). According to the Deloitte annually edition of the Football Money League, the Spanish giant Real Madrid became the first European club team to surpass the â‚ ¬500 million (AUD 658 million) revenue threshold in one year during the season of 2011/2012. Second on that list is Barcelona FC with AUD 619 million and third is the English sided Manchester United FC on AUD 508 million (Bosshardt, Bridge, Hanson, Shaffer, Stenson Thorpe, 2013) With this amount of money being shoved in and out of the football organisation in Europe it is hard to see why there would be a need of government intervention other than how the regulations of the sharing of the deals will be spent. The bigger, the better and the more popular the club are, the more fans they will attract and the more TV viewers they will get (Fort Quirk, 2005). In Spain there are no regulations or laws of the distribution of the broadcast revenue at all. They are letting every club negotiate individually with the broadcasters available on the market. Since the season of the Spanish La Liga 2004/2005, there has only been one year when a team (Villareal 07/08) other then Real Madrid and Barcelona clinched the first two spots of the table (List of Champions Sport Soccer Statistic Foundation, 2013). Thanks to this system, the league has almost lost its competitive balance for the rest of the teams of the league while the two dominant teams clinch the best commercial-d eals for the league for themselves and the spots of continental competition. The English Premier League has also been dominated by the classic â€Å"top 4† teams, Chelsea FC, Manchester United FC, Arsenal FC and Liverpool FC. Since the English Football League First Division rebranded itself to the Barclays Premier League in 1992, there has only been one season where a team outside of the former mentioned to become Champions (Blackburn Rovers 94/95), and since then there has only been Leeds United that has been able to steal a top three place in the table from the â€Å"top 4† teams (Past Winners – The Football League, 2013). The sharing of the broadcast rights revenue in England is shared in three parts: 50% are shared equally throughout all 20 clubs, 25% in facility fees and 25% depending how they end up in the league (Premier League Season Review, 2011). With this numbers in mind, the money attracted to certain clubs seen as being more economically viable than others, comes from individual contracts, endorsements and overseas business opportunities and sponsorships, not exclusive from broadcast rights. This is where the problem is. A trend of overseas rich oligopolies taking over ownerships of European clubs has formed an international debate whether the ethics and moral of the competitive balance of the sport. With almost immeasurable amounts of money, a civil person can by the majority of shares of a team and transform it to a name-reputational team with gaining high-value player transfers and offers high wages (Vrooman, 1995). The government and the state bodies around Europe have since 2009 together with UEFA agreed on putting a motion of a so-called Financial Fair Play. It was introduced due to the concern of the heavy spending of a number of professional clubs across Europe, it was hoped that the regulations would eventually lead to a more ‘level playing field’ by preventing clubs with very wealthy owners who make substantial cash gifts to their club from gaining an unfair advantage over other clubs who are run on a more sustainable business model, and in so doing encourage lower levels of spending (UEFA, 2012). 2.2 Other leagues Over the Atlantic Ocean there is a whole other perspective of sports. America has uniquely formed a fundamental culture, where schools and colleges are to be the main resource of forming the professional leagues (Bottenburg, 2010). Leagues in America have the world’s most profitable league; the National Football League (NFL) that alone draws in an annual profit of over one billion Australian dollars (Seepersaud 2010) The American Leagues are seen as the most competitive-balanced leagues in the world, with leagues as the NFL, NHL, MLB and the NBA. In America they use a variety of implements of their formatting of the leagues to make it as fair and as competitive as possible. But the how the competitive balance work in practise varies from eye to eye. As mentioned before, America uses a closed league system. Thanks to that it is possible for them to use a so called draft system, where the lowest ranking team from previous season has the opportunity to choose first in the upcoming draft of young talents from all over the world. NFL, NBA and NHL also implemented salary caps, which give the teams over the league a total amount of money to spend on wages each season so that not one single team is the only one to afford the biggest names. They also have a season concluded with a knockout play-off. This kind of formatting makes the outcome each year impossible to range. Since the commercialisation of the sports imploded America there has only been few back-to-back wins in the professional leagues. There has been some dominance by teams as the Los Angeles Lakers (NBA), New York Yankees (MLB), but other than that the outcome is considerably uncertain from year to year. Not least in the NHL and the NFL. 3. Summary Since most of the European clubs are win-maximised focused teams with the main aim to survive and stay as high up in the league system as possible, the intervention of government and state should be as low as possible. For the participants of the game they really do not need any actions to be taken from the government other than regulating the safety on the pitch with guards and police forces protecting them to unknown elements of danger. They will all get paid, and if they are good enough to seek themselves elsewhere for more lucrative deals, the already government-applied silly-season and the transfer-windows will secure them and the clubs. In America the draft system and college involvement should be enough for the government’s involvement. Since the American sports leagues are working after a cartel linked system to survive and make profits, the salary cap helps younger and inexperienced players to secure wage-deals that suits them in their careers. The fans will always be together and involved with their club unless something drastic will happen. The way that government should intervene to keep fans from all levels satisfy are to maybe try to manage and put pressure on leagues and clubs to keep their gate-tickets as fair and lucrative as possible. With the draft system and the Financial Fair Play, the fans from teams and clubs that have not gained the trophies or cups recently, will be to their advantage in a near future. This will make a higher competitive market for talents and that the spread of players will be wider overall. Community will get help of government involvement of them interact and supply state and government supported facilities by bringing either existing clubs or future franchises to their community. This is a form of politic question that involves tax-money and an overall public demand. As long as the leagues and the teams manage to keep a sustainable competitive balance and a high quality outcome, I do not see why governments should interact and interfere with how the sports leagues are managed today. The Financial Fair Play is too soon to reflect on how it will work out as an outcome for the European football, but we can already see that it has marked its point in countries as Turkey and Spain when UEFA banned Besiktas and Malaga from continental competition due to overspending of their own capacity. The government should work from the community’s perspective; keep a full-on investigation and reporting about drugs and safety of players and athletes. In short, let the leagues and sports manage themselves, because in the end it is all about keeping the most important stakeholders happy and satisfied, the fans.

Medicare Cutbacks :: essays research papers

Medicare Cutbacks Politicians, hospital administrators, doctors, and union leaders across the country are scrambling to reverse Medicare policy that has cut off, and will continue to cut off, billions of dollars from the health care industry and force cutbacks in critical medical services. The combination of rising cost in the health care industry and the diminishing Medicare payments are predicted to result in devastating effects to many aspects of the sector. Physicians, treatment facilities, medical training institutions, as well as beneficiaries are all vulnerable to the adverse effects of Medicare cutbacks. Nationwide, hospitals will lose approximately $1.6 billion annually once new Medicare cuts go into place on October 1, 2002. The cutbacks contained in the fiscal year 2003 budget will present a substantial challenge in the days lying ahead for the programs 550,000 participating physicians and its 39 million beneficiaries (Haugh, 2002). In the resent days of staffing crisis’s, liability insurance price hikes, and the overall elevating cost of providing healthcare, the Medicare cutbacks could not have come at a more inconvenient time for health care officials. Medicare payment reductions have become the added fuel in the industries financial crisis fire. I. Introduction A. What the projected cutbacks are. B. What prompted the cutbacks? 1. Balanced Budget Act of 1997 C. Who will be effected by the cutbacks? II. Impact on Physicians and private practice A. Reimbursement rate deduction B. Medicare participation decline 1. 17 percent of family physician have stopped taking new Medicare patients (Inglehart, 2002). III. Impact on Hospitals A. Disproportional-share hospital payment reduction B. Reimbursement rate reduction IV. Impact on training hospitals A. Indirect medical education payment adjustments B. Importance of training facility funding V. Impact on beneficiaries A. Good v. Bad 1. More funds available for new programs such as drug benefits. 2. Limited access to care. 3. Limited choices. VI. Conclusion References Association of American Medical Colleges. (2002, May 15). Health care leaders urge congress to stop medicare cuts to teaching hospitals. Retrieved September 10, 2002, from http://www.aamc.org/newsroom/Pressrel/ 2002/020515.htm Centers for Medicare & Medicaid. (2002, September 5). Hospital outpatient prospective payment system. Retrieved September 11, 2002, from http://cms.hhs.gov/ regulations/hopps/ Haugh, R. (2002, April). Dr. discontent. Hospitals & Health Networks, 34-42. Haugh, R. (2002, March). Feeling the pressure?. Hospitals & Health Networks, 42-45. Hernandez, R. (2001, May 14). A broad alliance tries to head off cuts in medicare [Electronic version].

Nursing Fundamentals-Professionalism and Discipline

FUNDAMENTAL PRINCIPLES OF NURSING RELATED TO PROFESSIONALISM AND DISCIPLINEIn this paper I will provide information regarding the definition of nursing, nursing as a discipline, nursing as a profession and nursing roles and settings. In addition, I will provide the fundamentals of nursing related to caring and communication, along with nursing as an art and science. I believe nursing is a very important career needed much around the world, and only certain types of people can be nurses.These individuals should contain a good heart and a good brain to further their success in nursing; they should be capable of caring, have strong communication skills, and have the knowledge capabilities to accomplish difficult tasks. I will be addressing these topics in my paper. Definition of nursing: Nursing is the collaborative care of individuals of all ages, families, groups and communities, sick or well in all settings. â€Å"Nursing is the use of clinical judgment and the provision of care to enable people to promote, improve, maintain, or recover health or, when death is inevitable to die peacefully† (Newham, R., 2012).Nurses are capable of more tasks than what most people imagine. Nursing is a mix of communication and caring, and the culmination of art and science. Therapeutic communication is extremely important in a nurse-client relationship. Communication allows an establishment of helping and healing relationships within the individual, family or community client(s). â€Å"At the core of nursing care, are therapeutic interpersonal relationships based on caring, mutual respect, and dignity. † (Burger & Goddard, 2010, p.246).By ensuring these relationships with clients, responsibilities are to be put forth; ethical responsibilities, legal responsibilities, and professional standards are met. When good communication is established, clients become empowered, which allows them to become capable of their decision making (2010). Verbal and non-verbal communic ation is very important to sustain. Often, difficulties arise from misinterpretation based on the clients’ perception. The nurse must contain the knowledge of these skills to minimize the unwanted confusion within the communicating process.Caring is a reflection of what matters to a person and has a wide range of involvements. Having personal concern for others motivates people to care. â€Å"Caring practices and expert knowledge that are at the heart of competent nursing practice must be valued and embraced† (Perry & Sams, 2010, p. 266). The act of caring is the process and decisions to help people in ways that include empathy, compassion, and support. All nurses should have this aspect within their nursing career. Without care from the nurse, the client’s holistic, spiritual, emotional and physical well-being can be comprised.â€Å"Instead of focusing on the client’s disease and its treatment by conventional means, transpersonal caring explores inner s ources of healing to protect, enhance, and preserve a person’s dignity, humanity, wholeness, and inner harmony† (Perry & Sams, 2010, p. 267). Nursing as a science is the application of knowledge through theoretical framework (Watson, J. , & Smith, M. , 2002). The technical aspect of nursing is more than ordinary technology. Nurses have to be critical thinkers and to know how to solve problems in the most optimum way possible.Watson states, â€Å"the science of nursing [is] to provide reliable and valid approaches, techniques, and theory that will enable nurses to practice effectively while solving problems† (p. 73) According to Watson, the last two decades has experienced an explosion of nursing knowledge that will improve the health, promote and optimize health, prevent illness and injury, and alleviate suffering as much as physically possible. As a profession, nurses have been educating patients, conducting research, and advocating for care. (Watson, J. , & Smi th, M., 2002).However, the artful acts in nursing are those activities that science cannot explain. The art in nursing is the individual practice of the nurse–patient interaction. Attempts are made to reincorporate art and science in ways that are morally, socially, aesthetically, and ecologically grounded by being accountable to a larger whole (Blondeau, D, 2002). New relationships are being established between arts and healing. The act of the nurse treating each patient interaction as a sacred and artful act can be just as beautiful and healing.The mere presence of the nurse can be more healing than all technology available today. In order for these elements to be put in place, society can expect these activities from the nursing discipline. Nursing as a Discipline Nursing is presented as a unique, independent, and a disciplined profession. A discipline is associated with following a standard way of doing things. There are many areas in which organizations are attempting to take disciplines and create a profession from it (Hayne, Y. ,1992). The goal of the discipline is to expand knowledge and human experiences through creative perception and research.This knowledge is the scientific guide to living the art of nursing (1992). Interaction between a nurse and a patient at a specific time and place is a very important discipline. Orlando (2010) states, that nursing discipline must be put in a certain order to enable the best outcome for a positive relationship between the nurses and clients (George, J. B. , 2011, p. 164). First, an arrangement of exchanges involving the nurse’s reaction to the patient behavior takes place until the patient’s need for help, as he or she perceives it, is clarified.Secondly, the nurse and the client in cooperation, decide to resolve the need in an appropriate manner. Lastly, an evaluation of this action is carried out after it is complete. Succession of the action is shown if the patients’ behaviour imp roves, the desired outcomes were achieved and the process is completed. The process recycles if there is no change or the behaviour of the patient gets worse. (2011) Using the appropriate nursing action and clarifying the patient’s behaviour is needed for progress.When nurses use this process to communicate their reactions in caring for patients, Orlando calls it the â€Å"nursing process discipline. † She applies the process discipline to contacts between a nurse and a leader and those she supervises and directs (2011). To enable the discipline of nursing to grow, nursing needs leaders who can articulate the place of nursing within modern society. The role of leaders also have to clarify the nursing discipline for the purposes of better understanding the nature of life and the nature of living, to contribute to societies’ health care.By doing so, nursing can ensure its positive contribution to health care and provide society a better understanding of health. Nu rsing as a Profession Nursing should always be spoken of and looked upon as a profession, not as an occupation. When the work of nursing was first organized by Florence Nightingale, it was proper to think of it as an occupation, but then the art of nursing the ill has been growing and thriving since ( Ross-Kerr, 2010, p. 32-34). Elliot Fredison; another important role model regarding the health care system, was a leading researcher in the sociology of medicine and other professions.According to Freidson, the ideal professional is characterized by five elements: specialized work, exclusive control, required qualified credentials, formal training, and a commitment to doing good work before economic gain (Paulsen, 2011). Another important aspect that Freidson addressed, regarding the topic of professionalism, was the physician-patient care. â€Å"Only members of the health professions can be trusted, because of their competence, because of their ability to cure sometimes, treat often, and care always† (2011).Caring requires the concentration of caregivers so that they become aware of the patient’s needs. Paulsen (2011) inquires that a moral quality of caring is derived from being able to perceive needs with as little alteration as possible. He also states that caring â€Å"about† differs from caring â€Å"for. † The aspect that is clarified by the awareness of something becoming a need is the caring â€Å"about† fragment and having full responsibility for one’s patient, qualifies the caring â€Å"for† feature.This leads into the competency of caring, and how important it is on a professional spectrum. â€Å"Incompetent care is not only a technical problem, but a moral one. † (Hafferty, F. et. al, 2003) This states that within the ethics of caring, one must balance a sustainable role within the clinical setting and contain the knowledge retaining the patient’s rights (2003). Such rights would classify under confidentiality, informed consent, acceptance or refusal of treatment and privacy (CNA, 2008).Fundamental to Fredison’s definition of professionalism is the claim that the physician must retain independence of judgment and action, if only to decide when and what kinds of care are inappropriate (Hafferty, F. et. al, 2003). Following Freidson’s view on what a professional is, would include the nursing profession. Nursing is a dedicated profession with required skills that are accumulated through formal education and care.Nursing Roles and Settings If one cannot identify their uniqueness within nursing, a negative impact could be put in place, such as; the lack of a clearly identifiable function,  which leads to inadequate care and insufficient attention to the patient’s reactions to his immediate experiences. Then, nurses will identify their role as a concern regarding the right provided direct assistance to individuals in any setting they are found, to th e purpose of avoiding, relieving, diminishing or curing the individual’s sense of helplessness. â€Å"It is the nurse’s direct responsibility to see to it that the patient’s needs for help are met either by her own activity or by calling in the help of others.† (Lowe, G. , et. al. , 2012).The importance of nursing uniqueness acts as a function to allow nurses to work in any setting where persons experience a need for help they cannot resolve themselves. Therefore, nurses may practice with well or ill persons in an independent practice or in an institutional setting (2012). Support, promotion of a safe environment, research, participation in shaping health policy and in patient and health systems management, and education are also key nursing roles.By being influenced by economic, social, and cultural factors, nursing has responded by continuing to meet the needs of health care. The founder of modern nursing is considered to be Florence Nightingale (Ross-K err, 2010). Nightingale, along with her staff of nurses dramatically reduced morbidity rates through their care and the importance of comfort for clients. She applied the principles of cleanliness and comfort to nursing care which is today known as one of the fundament principles of nursing.ConclusionThis paper explained the idea of what nursing is. The fundament concepts of nursing are to provide the most competent care achievable through proper caring and communication, discipline and profession and the knowledge of roles and settings. I have also inquired nursing as an art and science, to better understand the fundaments of nursing. I learned from doing research that the main aspect of nursing is to care. The other points are very valid and important, but to be a truthfully caring nurse, is what a patient really needs to gain the most optimum health.

Social Media s Influence On Marketing - 914 Words

Depending on the virtual assistant you hire, bookkeeping and accounting may be their forte. Marketing Help These days it is hard to underestimate the importance of marketing. Effective marketing is key to success, especially in real estate. But social media marketing, content marketing, and ad development and purchasing can all be very time consuming. †¢ Content Marketing o We all know that content is king. We also know, or at least should, that unless you are constantly posting new content to your website or blog, that you might as well not bother with having one. Your virtual assistant can be a great help in finding, scheduling, and posting robust content to your website and/or blog, freeing your marketing time up to write your own original content. †¢ Social Media o Social media marketing is so important these days. Whatever people are saying about you and your company on social media is often the first impression prospective customers and business associates get of you. 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