Question 1

Which of the following is NOT a step in the incorporation process?

Accepted Answer

A)  Determining a name for the corporation and verify with the appropriate jurisdiction that the company name is available for incorporation. 
B)  Filing all the necessary documentation as required by the specific incorporation, including an Articles of Incorporation 
C)  Trademark a logo representing the incorporated business. 
D)  Pay any fees charged by the specific jurisdictions. 
A)  Determining a name for the corporation and verify with the appropriate jurisdiction that the company name is available for incorporation. 
B)  Filing all the necessary documentation as required by the specific incorporation, including an Articles of Incorporation 
C)  Trademark a logo representing the incorporated business. 
D)  Pay any fees charged by the specific jurisdictions. C

Question 2

Explain the advantages and disadvantages of bringing in a private management company such as SMG, Global Spectrum, or AEG to manage a public sport facility? If you were the lead government official in your municipality, would you hire private management or keep the facility under in-house control? Why?

Accepted Answer

The individual reasoning for outsourcing management or keeping it in-house will differ. However, the advantages and disadvantages should center on the following: in public governance, the facility manager usually reports directly to these government officials, and must work within the operational efficiency constraints, regulations and procedures evident in bureaucratic management. This often has a direct effect on many of the operational functions of a sport facility manager, including purchasing processes, contract approvals, and human resource management. There are also challenges when the governmental officials/bodies who are overseeing the public facilities are politicians who truly do not understand the managerial processes of a sport facility. As a result of this, many publicly governed sport facilities have commissioned independent boards to oversee the facilities - made up of individuals who understand facility management, but still report back to the governmental agencies. In other cases, public bodies have hired private management groups to manage the day-to-day operations of the sport facility, and provide reports back to the governmental agency.

Question 3

The most general structure of business ownership is a

Accepted Answer

A)  Sole Proprietorship 
B)  General Partnership 
C)  Limited Partnership 
D)  Corporation 
A)  Sole Proprietorship 
B)  General Partnership 
C)  Limited Partnership 
D)  Corporation A

Question 4

What is the main reason for having publicly-owned sport facilities?

Accepted Answer

A)  Have a professional sport team in the community. 
B)  Important to offer high-quality facilities for the use of the population based on their needs. 
C)  Act as an engine for economic development by creating new spending and jobs in a municipality. 
D)  Increase the image of a community. 
A)  Have a professional sport team in the community. 
B)  Important to offer high-quality facilities for the use of the population based on their needs. 
C)  Act as an engine for economic development by creating new spending and jobs in a municipality. 
D)  Increase the image of a community.

Question 5

Explain each of the corporate structure discussed in the chapter. If you had the choice of any corporate structure for a private multipurpose sport arena, which structure would you choose? Defend your answer.

Accepted Answer

The six major sport facility corporate s

Question 6

Which of the following is NOT an integral component of trust governance?

Accepted Answer

A)  Governmental Authority 
B)  Benefactors 
C)  Trust Managers 
D)  Beneficiaries 
A)  Governmental Authority 
B)  Benefactors 
C)  Trust Managers 
D)  Beneficiaries

Question 7

Non-profit and voluntary governance is usually limited to what type of owners of sport facilities?

Accepted Answer

A)  Commercial entities 
B)  Educational, charitable, and religious sport entities 
C)  Major and minor league sport teams 
D)  Private recreation facilities and fitness centers 
A)  Commercial entities 
B)  Educational, charitable, and religious sport entities 
C)  Major and minor league sport teams 
D)  Private recreation facilities and fitness centers

Question 8

Compare and contrast sole proprietorships vs. general partnerships as an ownership structure for sport facilities.

Accepted Answer

The most basic form of business ownershi

Question 9

Which of the following statements is most true?

Accepted Answer

A)  A contingency approach to organizational effectiveness is best, as there is no one model better than the other, regardless of ownership structure. 
B)  Changes in organizational structure do not always influence organizational effectiveness. 
C)  The implementation of new technologies will not negatively affect organizational effectiveness. 
D)  Opportunities and threats in the environment that affect the sport facility will only negatively affect organizational effectiveness if not dealt with quickly. 
A)  A contingency approach to organizational effectiveness is best, as there is no one model better than the other, regardless of ownership structure. 
B)  Changes in organizational structure do not always influence organizational effectiveness. 
C)  The implementation of new technologies will not negatively affect organizational effectiveness. 
D)  Opportunities and threats in the environment that affect the sport facility will only negatively affect organizational effectiveness if not dealt with quickly.

Question 10

You are the new general managers of a municipal recreational facility. There have been numerous problems in the past, especially as related to not meeting goals and objectives, and not reacting efficiently to changes in the environment. You need to evaluate organizational effectiveness, and have determined to analyze the numerous models have been developed to help sport facilities measure organization effectiveness based on the varying levels of environmental and organizational attributes. Choose one model (or multiple if you see fit), and discuss how you would implement that model into your organization.

Accepted Answer

Student answers will vary based on their

Question 11

All of the following are advantages of a general partnership EXCEPT

Accepted Answer

A)  Similar to a sole proprietorship in that there is personal responsibility for all debt and liabilities incurred by the sport facility including tax liability 
B)  The liabilities are shared by the partners based on the percent of ownership each partner has in the sport facility. 
C)  Stronger top management structure, as multiple owners bring multiple strengths to the business - and often one partner's strength is another partner's weakness. 
D)  Created under the laws and regulations of governmental authority by obtaining a charter authorizing them as a legal body where the powers, rights, authority, and liabilities of the entity are distinct from the partners. 
A)  Similar to a sole proprietorship in that there is personal responsibility for all debt and liabilities incurred by the sport facility including tax liability 
B)  The liabilities are shared by the partners based on the percent of ownership each partner has in the sport facility. 
C)  Stronger top management structure, as multiple owners bring multiple strengths to the business - and often one partner's strength is another partner's weakness. 
D)  Created under the laws and regulations of governmental authority by obtaining a charter authorizing them as a legal body where the powers, rights, authority, and liabilities of the entity are distinct from the partners.

Question 12

Which of the following is an advantage of private governance of a sport facility?

Accepted Answer

A)  The owners have the ability to exercise their own power and authority over the entire governance structure of the sport facility. 
B)  The owners are able to determine who the users of the facility are. 
C)  The owners are the sole regulatory power for anything that happens within the sport facility. 
D)  All of the Above 
A)  The owners have the ability to exercise their own power and authority over the entire governance structure of the sport facility. 
B)  The owners are able to determine who the users of the facility are. 
C)  The owners are the sole regulatory power for anything that happens within the sport facility. 
D)  All of the Above

Question 13

Which of the following corporate structures is prevalent in sport business, but NOT as widely seen in the ownership structure of sport facilities?

Accepted Answer

A)  C-Corporation 
B)  S-Corporation 
C)  Limited Liability Corporation 
D)  Non-Profit Corporation 
A)  C-Corporation 
B)  S-Corporation 
C)  Limited Liability Corporation 
D)  Non-Profit Corporation

Question 14

What is the major difference between a general partnership and a limited partnership?

Accepted Answer

A)  General partnerships and limited partnership do not have equal power in making major decisions. 
B)  Limited partners do not have the same financial risk as a general partner. 
C)  The limited partner provides financial backing, but does not take an active role in the day-to-day operation and management of the sport facility. 
D)  Limited partners do not have the same liability risk when it comes to personal negligence related to a partner's actions in the business. 
A)  General partnerships and limited partnership do not have equal power in making major decisions. 
B)  Limited partners do not have the same financial risk as a general partner. 
C)  The limited partner provides financial backing, but does not take an active role in the day-to-day operation and management of the sport facility. 
D)  Limited partners do not have the same liability risk when it comes to personal negligence related to a partner's actions in the business.

Which of the following is NOT a step in the incorporation process?

The most general structure of business ownership is a

What is the main reason for having publicly-owned sport facilities?

Explain each of the corporate structure discussed in the chapter. If you had the choice of any corporate structure for a private multipurpose sport arena, which structure would you choose? Defend your answer.

Which of the following is NOT an integral component of trust governance?

Non-profit and voluntary governance is usually limited to what type of owners of sport facilities?

Compare and contrast sole proprietorships vs. general partnerships as an ownership structure for sport facilities.

Which of the following statements is most true?

All of the following are advantages of a general partnership EXCEPT

Which of the following is an advantage of private governance of a sport facility?

Which of the following corporate structures is prevalent in sport business, but NOT as widely seen in the ownership structure of sport facilities?

What is the major difference between a general partnership and a limited partnership?

Introduction to Sport Facility Operations Management

Financing Sport Facilities

Capital Investment Appraisal

Project Management: Planning, Design, and Construction

Organizational Leadership and Human Resource Management

Financial Management, Operational Decision Making, and Budgeting

Operations Management

Multichannel Marketing and Communications

Revenue Generation and Diversification

Customer Experiences From Event Planning to Activation

Legal Issues and Risk Assessment

Security Planning for Facilty Management

Performance Analytics for Sport Facilities

Impacts and Legacies Through Sustainability

Filters

Exam 2: Ownership Structures

Which of the following is NOT a step in the incorporation process?

The most general structure of business ownership is a

What is the main reason for having publicly-owned sport facilities?

Explain each of the corporate structure discussed in the chapter. If you had the choice of any corporate structure for a private multipurpose sport arena, which structure would you choose? Defend your answer.

Which of the following is NOT an integral component of trust governance?

Non-profit and voluntary governance is usually limited to what type of owners of sport facilities?

Compare and contrast sole proprietorships vs. general partnerships as an ownership structure for sport facilities.

Which of the following statements is most true?

All of the following are advantages of a general partnership EXCEPT

Which of the following is an advantage of private governance of a sport facility?

Which of the following corporate structures is prevalent in sport business, but NOT as widely seen in the ownership structure of sport facilities?

What is the major difference between a general partnership and a limited partnership?

Introduction to Sport Facility Operations Management

Financing Sport Facilities

Capital Investment Appraisal

Project Management: Planning, Design, and Construction

Organizational Leadership and Human Resource Management

Financial Management, Operational Decision Making, and Budgeting

Operations Management

Multichannel Marketing and Communications

Revenue Generation and Diversification

Customer Experiences From Event Planning to Activation

Legal Issues and Risk Assessment

Security Planning for Facilty Management

Performance Analytics for Sport Facilities

Impacts and Legacies Through Sustainability

Filters