As disposable incomes decrease, few can afford gourmet treats and evenings out at the movies or theater. The sport industry is also highly vulnerable to fluctuations in the economy. A typical day at an NFL stadium to see a professional football game can cost the average patron almost $150 after factoring in the costs of food, drinks, a program, and a souvenir such as a cap or Tshirt (Bukszpan, 2012). For a family of four, then, an economic downslide would preclude many from spending $600 to attend a professional sport event.
The sport of golf has been in a slump, with the number of golfers in the United States dropping 24 percent between 2002 and 2014, according to Pellucid, a consulting company that focuses on the golfing industry. It found that in 2013 alone, the game lost 1.1 million players (Rupp & Colman-Lochner, 2014). Leaders in the golfing industry are faced with several challenges: What is causing the mass departure of players, necessitating golf courses to close? Why are attendees turning away from this and other U.S. sports? Declines in sport participation and attendance are two significant economic challenges for leaders and managers in the sport industry. What are others? How should leaders and managers handle new economic realities?
Post an explanation of a current challenge facing sport managers related to the industry's new economic reality. Provide a specific example of this challenge and explain the strategies you might employ to counter the challenge.
In formulating your Discussion post, consider the following:
1) What are some of the most pressing economic realities of the sport industry?
2) What strategies are available to sport managers for counteracting challenges of this new reality?
3) What are the impacts of nontraditional sports, television/media, and globalization of sport on these new economic realities?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.