Question 1

Under Armour is the fastest-growing sport apparel and footwear brand in the world. The estimated worth of the company is $1 billion, with revenues of $1.4 billion in 2011.

Accepted Answer

According to the information provided, Under Armour is indeed the fastest-growing sport apparel and footwear brand in the world and had revenues of $1.4 billion in 2011. However, the estimated worth of the company is not mentioned.

Question 2

A sport organization is a group of people working together to achieve a common purpose. These organizations exist to produce products or services that can't be produced by a single individual working alone.

Accepted Answer

A sport organization involves a group of people working together towards a common goal, whether it's producing events, developing athletes, or providing services related to sport. The collective effort allows for a larger impact and more efficient use of resources than an individual could achieve alone.

Question 3

In 2011, sporting goods equipment sales rose 2.5 percent, from $2.4 billion in 2010, to $120.9 billion. The largest categories of sporting goods are: fishing ($2.9 billion); golf ($2.5 billion); and tennis ($1.8 billion).

Accepted Answer

The increase from $2.4 billion to $120.9 billion would represent a much larger percentage increase than 2.5 percent, indicating the numbers or percentages provided are incorrect or have been misinterpreted.

Question 4

Nike, the leader in footwear and apparel sales, is estimated to be worth $15 billion, while industry runner-up Adidas is valued at $5 billion. In 2011, Nike's apparel sales reached $5.4 billion, with overall sales topping $18 billion ($7.6 billion in North America, $3.8 billion in Western Europe, and $4.8 billion from China and emerging markets.

Accepted Answer

The statement accurately presents the estimated valuations and sales figures for Nike and Adidas.

Question 5

A trademark is defined under the Federal Trademark Act as "any word, name, symbol, or device or combination thereof adopted and used by a manufacturer or merchant to identify his goods and distinguish them from those manufactured or sold by others."

Accepted Answer

This is the exact definition of a trademark under the Federal Trademark Act.

Question 6

Licensing is defined as a contractual method of developing and exploiting intellectual property by transferring rights of use to third parties without the transfer of ownership. The "third parties" in this instance are the licensees, the companies that manufacture these products, which hold licenses to manufacture and sell products bearing the logos and marks of professional and amateur sport entities.

Accepted Answer

This is an accurate definition of licensing.

Question 7

Industry giants Adidas, Nike, and Puma have been universally and repeatedly criticized for paying low wages and treating workers poorly. To the question of how to improve performance for these organizations, Robert Owen's answer was to make the workplace a community and treat people well.

Accepted Answer

This statement is true. Robert Owen believed in creating a sense of community in the workplace and treating workers well, as opposed to exploiting them for profit.

Question 8

Today, successful sport organizations like New Balance know they are open systems. Sport organizations must cultivate a work force capable of doing the work necessary. Each of these environmental factors must be recognized and responded to in managing the organization.

Accepted Answer

This statement is true. Successful sport organizations, like New Balance, understand that they are open systems, which means they must be responsive to their environment in order to effectively manage the organization. This includes cultivating a capable workforce and recognizing and responding to environmental factors.

Question 9

One of the most recent examples of conceptual sport entrepreneurship is Vineyard Vines' partnership with NASCAR's Daytona 500.

Accepted Answer

Vineyard Vines is known for its preppy clothing line and has engaged in various partnerships, but there is no widely recognized or recent partnership specifically between Vineyard Vines and NASCAR's Daytona 500 that exemplifies conceptual sport entrepreneurship.

Question 10

Contingency theory states that a single answer exists for how to improve organizational performance. This is why one specific manner of dress is favored by all golfers on the PGA and LPGA circuits.

Accepted Answer

Contingency theory posits that there is no one-size-fits-all solution for improving organizational performance as it depends on various factors, such as the organization's structure, culture, and environment. Similarly, there is no one specific manner of dress favored by all golfers on the PGA and LPGA circuits as it can vary based on personal preference, sponsorship agreements, and cultural background.

Question 11

The following former gymnast is identified as "a Michael Jordanesque" figure in his home country and used his image to found an eponymous athletic footwear company in 1990.

Accepted Answer

Li-Ning is the former gymnast who founded his eponymous athletic footwear company in 1990. He is often referred to as a Michael Jordanesque figure in his home country of China.

Question 12

The traditional definition of management includes each of the following except:

Accepted Answer

The traditional definition of management encompasses the coordination of resources, the designing of tasks, and providing a sense of direction and purpose. However, it does not specifically include responsibility for performance as a core element, although performance is an outcome of effective management.

Question 13

According to Henri Fayol, management must perform which five key functions?

Accepted Answer

According to Henri Fayol, the five key functions of management are planning, organizing, commanding, coordinating, and controlling. Option A is incorrect because "contending" is not one of the five functions. Option B is incorrect because "ordering" is not one of the five functions. Option D is incorrect because "preparing" is not one of the five functions.

Question 14

Which of the following does not include three functions identified as key managerial roles by Henry Mintzberg?

Accepted Answer

Henry Mintzberg identified ten roles categorized into three groups: interpersonal (figurehead, leader, liaison), informational (monitor, disseminator, spokesperson), and decisional (entrepreneur, disturbance handler, resource allocator, negotiator). "Facilitator" is not one of the roles identified by Mintzberg, making option A the correct answer.

Question 15

According to Forbes magazine, each of the following is in the top five of the most valuable sport franchises in the world except:

Accepted Answer

The options B, C, and D are consistently ranked in the top five of Forbes' most valuable sport franchises in the world. However, Bayern Munich is not ranked in the top five, although they are considered one of the most valuable soccer clubs in the world.

Question 16

The examples of the sale of memorabilia connected to MLB stars Derek Jeter and his achieving 3,000 hits and a record-setting sale of a Babe Ruth game-worn jersey is an example of which of the elements that define the new sport management environment?

Accepted Answer

The answer of The examples of the sale of memorabilia...

Question 17

Since the sports trading card market today is only 30 percent kids, Topps is looking to the use of smartphone technology to continue to connect with more "techcentric" young consumers. This is an example of which of the elements that define the new sport management environment?

Accepted Answer

Topps recognizing the need to use technology and adapt to the changing market shows their focus on innovation in the new sport management environment.

Question 18

Recently, NASCAR announced the formation of the NASCAR Team Licensing Trust to coordinate sales for many top racing teams. NASCAR also acted to establish connections with toy industry giant and model train manufacturer Lionel to make the die-cast cars. This is an example of which of the elements that define the new sport management environment?

Accepted Answer

The answer of Recently, NASCAR announced the formation of the...

Question 19

Prior to the 2010 FIFA World Cup, Nike announced that each team wearing its products during the competition will wear jerseys made almost entirely of plastic models culled from landfills in Japan and Taiwan. This is an example of which of the elements that define the new sport management environment?

Accepted Answer

The use of plastic models from landfills indicates a focus on sustainable growth, which is one of the elements that define the new sport management environment.

Question 20

The branded and licensed product industry relies heavily on the authentication process to certify claims such as "game-used." This is an example of which of the elements that define the new sport management environment?

Accepted Answer

The authentication process is a key aspect of maintaining integrity in the branded and licensed product industry. This is important to ensure that claims of authenticity for items such as "game-used" are verified and customers can be assured of the legitimacy of their purchase.

Quiz 1: The Sport Management Challenge and the Branded and Licensed Sport Product Industry