YOU: Explain why you feel this story is the most remarkable story/example given in this chapter?
Running Head: ENTREPRENEURSHIP AND THE SPORT INDUSTRY 1
ENTREPRENEURSHIP AND THE SPORT INDUSTRY 2
Entrepreneurship and the Sport Industry
Sport is more of an entrepreneurial activity since change and innovation are vital elements of sports. When businesses seek audiences, they are merely going to look for a strategy to gather more customers. This includes partnering with sports for advertisement purposes. For instance, an organization may decide to sponsor a team by providing it with jerseys that incorporate their brand name. Many companies have grown as a result of advertising through partnership. They will pay the fee through manufacturing sport shirts with their name to let the audience know their presence (Ratten, 2018).
Also, a business organization can decide to host sports events. Sports have proliferated over the past years, and it has a massive audience than any other activity. For instance, if you decide to host a game between two famous football clubs, you may use the opportunity to sell your products in the process. The two parties are then said to be in a business act – a title or medal, or cup, and money.
Businesses may decide to take part in the sporting activity by providing goods used in the process. Adidas, Mikasa, Puma, and Nike are some of the companies that have emerged are top world companies due to their reliance on the sports industry. From the manufacture of shoes, jerseys, and football balls, such has gained many customers around the world.
Ratten, V. (2018). The sport industry and entrepreneurship. In Sport Entrepreneurship (pp. 19-33). Springer, Cham.