Question

What are some of the social initiatives(factors) and governance fators adopted by the sports lndustry, for example MLB and Ice Skating teams that are compatible to the Industry.

Answer 1

Social initiative factors is a type of international private business self-regulation that aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethically-oriented practice.

CSR has become a more frequent activity in the sport industry. Several sports organisations have adopted this socially acceptable concept, making it present during sporting events and matches. Today, CSR has been developed to a competitive advantage and those organisations who conduct their CSR activities might be able to obtain organisational goals outside the pitch as education, health, gender inequalities and the environment.

SOCIAL INITIATIVE FACTORS

1- EXTERNAL FACTORS

External Factors External factors are forces which the organisation cannot affect, in the business environment which possess the ability to affect business operations and objectives . The external factors include

A- consumer expectations

B- financial opportunities

C- community

D-sponsors

E- legal aspects .

2- INTERNAL FACTORS

Internal factors are strengths and weaknesses an organisation possesses, and these factors can help the organisation achieve its objectives . Scholars identified several influencing internal factors:

A-Match with organisations mission.

B- Reputation and brand image.

C-Legal Implications .

GOVERNANCE FACTORS ADOPTED BY THE SPORTS INDUSTRY INCLUDE-

1 Recognition of rights and equitable treatment of share holders

2 Recognition of roles of stakeholders and investors

3 Disclosure and transparency

4 Clearly outlined responsibilities of the board.

5 Transparency , anti bribery, anti corruption

6 Efficiency and effectiveness of governance