...Justification of the huge salaries paid to some top athletes; an economic perspective. Over the last century there has been much research into the area of Labour Economics, and hence the determinants of supply, demand and wages for labour. In this essay, I will be looking at the unique example of the Sports Labour Market with specific focus on the European Football Market, and use various economic models to justify the huge salaries currently offered to top athletes within this field. The wages of professional footballers have risen dramatically since the Bosman ruling in December 1995, in which EU football players were given the right to a free transfer at the end of their contracts, with the provision that they were transferring from a club within one EU Association to a club within another EU Association (European Commission, 2012).This has been supported by various studies, including (Simmons, 1997), who argued that the move towards a free agency had the consequent impact of increasing players’ salaries, as the forgone transfer fees translate into increased salaries, since the bargaining power is transferred to the player. This was reinforced by (Downward, 2000) who found that post-Bosman, the wages within the United Kingdom’s Premier League rose considerably. However, these findings conflict with other studies conducted, including (Szymanski, 1999), who argued that the new ruling only lead to increased wages for superstar players who have the greatest bargaining power...
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...Everyday we see athletes in tough situations with the game on the line. Some conquer the moment, and some melt under the pressure. I’m a big sports geek that watches every sport and closely follow my favorite teams, and everyday I see athletes embrace the pressure of close games in the closing moments, while some shy away and disappear in the moment. When I was 11 years old, on December 4, 2009, I witnessed Kobe Bryant hit a buzzer beater to win the game against the Miami Heat. That image of Kobe shooting over Dwyane Wade has ever since been stuck in my head leading me to many childish fantasies of me hitting a game winning shot in game 7 of the finals to win the championship like Kobe did. That buzzer beater by Kobe was the first of many game winning plays I saw watching sports including the most recent of them which was a game tying hail mary by Aaron Rodgers in the playoffs to send the game to overtime against the Arizona Cardinals. However, in that time I have seen many instances where players have had the chance to make a crucial game winning play at the end of the game but failed to do so. One of the biggest recurring things I’ve seen over the years are missed free throws in clutch moments of games by really good free throw shooters, which made me thinking how can some people make several clutch shots repetitively while some superstars choke...
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...Abstract Under Amour, Inc. is a performance based apparel company that is quickly growing to become one of the top companies in the industry. They are known for high-quality, innovative products that are giving athletes a competitive advantage. This paper describes the history of the company, analyzes the company’s performance and required rate of return, discusses the projected future growth rate of earning, values the company, and provides a recommendation to buy stock at the estimated price target of Keywords: stock analysis, return on equity, projected future growth rate, required rate of return, intrinsic value A Summary and Technical Analysis of the Under Armour, Inc. (UA) Stock on the New York Stock Exchange Under Armour, Inc. (UA) was established in 1996 by Kevin Plank, a former captain for the University of Maryland football team. His concept for a better T-shirt was born on the field; on one of the many days when he and his teammates were drenched in sweat. As a result of this, including extensive research into synthetic fibers, he produced the first prototype for a new generation of performance apparel: HeatGear. His new HeatGear T-shirts helped to keep athletes dry and cool, enhancing former teammates running two-a-days under the hot Maryland sun. Within a few years, the company developed ColdGear and AllSeasonGear lines, and had products featured in the major motion pictures “Any Given Sunday” and “The Replacements”, as well as in ESPN Magazine. ...
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...Junior year of high school comes around and you’re sitting at the dining room table with your parents discussing how you are already halfway done with high school and almost ready to start your college education. Wow, college, just thinking about it makes you excited, but extremely nervous. So many questions come along with college and the education you will be receiving. What are you going to study, what college will you attend, and most importantly how are you going to afford it? You’re not in the top ten, but still an average student. You are on athletic teams, but not the superstar athlete of your high school by any means. Students believe that they need to be the best at everything to receive a scholarship of any type, but that’s where a lot of them think wrong. Scholarships are available to almost any student and can be granted to students for more than just grades and athletics. The possibilities for scholarships are limitless and give you the best way to have some or even all of your college education paid for. Growing up many students think they need to be in the top ten or getting straight A’s and passing every test. Which isn’t completely wrong because when you do fall into that category it can make receiving scholarships an easier process. Although, if you don’t fall into that category scholarships are nowhere near impossible to receive because of the hundreds of options provided by companies and colleges in every state. Academic scholarships often...
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...Have you ever underestimated how long it would take you to finish writing a paper for school or get ready to go somewhere? You are experiencing the planning fallacy. Proposed by Daniel Kahneman and Amos Tversky in 1979, a planning fallacy is the propensity for people to underestimate how much time it takes to complete activities or projects. When we make plans, we imagine that everything will go well and our plans will stay on schedule. We underestimate how many things can, and probably will, impact the plan and schedule. A planning fallacy can occur regardless of an individual's knowledge of the same or similar...
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...Values Reflection Paper Thomas Guerrero CJA 474 November 24, 2014 David Pettinari Values Reflection Paper Regardless of whether people work in the government or private sector, military or civilian, they will commonly ask, “what are my core values?” Most people are taught personal values from the early years of childhood, and throughout adolescence. In addition to parents, many public figures instill some values (such as respect) in the minds of young adults stronger than other values. Respect is one of my core values, and something that most kids from inner-city Chicago learn about. This paper focuses on core values. In this paper, I will reflect on my core values, describe the development and change of values, and explain the nature and importance of human values in the workplace. Core Values With the numerous amounts of social influences today, it may be hard for adolescents to decide which vales they believe to be most important. However, adolescents and adults are constantly faced with the question, what do you want to be or do in life? According to De Janasz, Dowd, & Schneider (2001), “Identifying your values will help you answer the question “What do I want to achieve with my life?” Once you determine your values and why they are important to you, you can then work on a plan for achieving your goals (p. 51).” Growing up in the tough neighborhoods of Chicago, it is easy to learn the values of right and wrong. It’s learned from award ceremonies...
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...Ethical issues regarding the use of Performance Enhancing Drugs in Sports In the history of 20th century sports, specifically in the post World War 2 era, there has been an ever increasing use of performance enhancing drugs in all avenues of sport. Sports have become money making machine for both athletes and big business and the “win at all costs” attitude which has permeated itself into all aspects of professional and college level athletics. Winners make money, losers don’t. The temptation of fame, notoriety and million dollar contracts in all venues of sport is a lure for many athletes. Elite professional athletes are worshiped in today’s society. This paper will elaborate on the use of performance enhancing drugs in the sporting world and the associated sports ethical issues. It is a majority belief in all sporting circles that the “true” spirit of sportsmanship does not allow any aspect of performance enhancing drugs. There are several arguments both in favor and against the use of performance enhancing drugs which will be presented and discussed in this paper. While addressing this ethical issue, we need to define the term ethics. Ethics can be defined as the socially accepted norms and values. These norms and values are varied from society to society and are based on culture and tradition. Ethics also could be defined as the unsaid, un-written and understood laws that prevail in a society. Ethics also cover what is right and what is wrong in society and teaches...
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...pediatric nutritionist at the Children’s Hospital at Montefiore in New York City (Mooney 2011). Children in the United States are eating more and more unhealthy foods due to marketing directed towards kids, ads on television, celebrity endorsements, and food choices at school. Food Marketing to Children Various companies market foods to kids on TV, on the radio, on the web, in magazines. They do this through almost subliminal type marketing where the items are strategically placed to catch a child’s eye, but yet the film, commercials, clothing ads and toy ads aren’t specifically saying to buy this food item. As indicated by "Food Marketing to Children,” sustenance advertising procedures incorporate the utilization of: spokes-characters, superstars, kid's shows, premiums, collectibles, diversions, challenges, kids' clubs, and that's just the beginning. The aggregate sum spent on nourishment advertising to youngsters is about ten billion dollars a year (Center for Science in the Public Interest 2006). Indeed, there is no questioning the way that the objective of nourishment advertising is to impact kids' food decisions. Companies clearly believe that marketing works or they wouldn’t spend billions of dollars a year on it. According to a comprehensive review in 2005 by the National Academies’ Institute of Medicine, studies demonstrate that TV food advertising influences youngsters' nourishment decisions, what is actually being purchased for children to eat, eating patterns, and...
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...normally and the most dangerous problem when playing football is head injuries which can lead to health issues later in life, or cause a person’s psyche. Professional football players have stand a lot of jarring hits to their heads, and getting hit regularly will cause concussion. Brain damage is an important problem in football and you need to be aware of there are a lot of research showing that it is dangerous to let kids play football and there are also some true stories about kids died because of brain...
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...Controversial Issues in Entertainment Paper Controversial issues in the media Controversies are a part of the American if not global landscapes. The thought makes one wonder if our value and belief systems are shaped by mass media. That may be close to the truth. With computers, laptops, cell phones, I-pads we are connected to the media in some form and want our news as fast as possible. The more horrific the story, the more interest is generated in knowing the outcome. Nature of the controversy In 2009, a young dating couple had a physical fight that made national news. The couple in question- music superstars Chris Brown and Rihanna. Every paper covered the assault and had pictures of the bloodied Rihanna with blackened eye, split lip, and bite marks. The scandal percolated to an all-time high and Chris Brown was charged with assault. Later the public would discover the charges were for sexual assault. Many celebrities have misunderstandings and some have been victims. Controversy sells and we want to know what happened- the media is willing to oblige. Traditional journalism The traditional factors of newsworthiness include proximity, future impact, prominence, conflict, human interest, and timeliness. According to John Vivian “ not only do people in their contemporary lifestyles need mass media, but the industries that have built up around media need an audience” (Vivian, 2011, p. 6). News for the public has the following ideology, “news is based on some inherent...
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...identify the the possibilities and weaknesses of Nike. The efficiency and effectiveness that is required of companies in this hyper competitive environment dictates whether a company succeeds or fails. Value chain analysis will exhibit the way Nike is always performing above the competition in its industry. Lastly, the discussion will talk about Nike's brand advertising and how the use of sports icons has increased their sales every year for over 30 years. History Nike has become one of the most well-known brands as of today. The way they have done business over the last fifty one years is why they have been so successful in their line of sports related products. Nike’s mission statement states “Bring inspiration and innovation to every athlete in the world”. Nike has been at the head of the pack all the way since the beginning. Nike was founded on January 25th, 1964. It was originally called Blue Ribbon Sports and then they changed their name to Nike in 1971. Nike has over 44,000 employees. Their famous swoosh was created by a Portland State University student. Carolyn Davidson created the logo and Nike paid her thirty five dollars for it. She was later given stock in the company which is not worth more than $640,000. The company was founded by Bill Bowerman and Phil Knight. Bill...
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...Professor Gregory F Stiber By: Brizaida Ribalta, Jessica Halsey and Shereen Hijazi Nova Southeastern University H. Wayne Huizenga School of Business & Entrepreneurship Assignment for Course: MKTP 5005 – Introductory Marketing Submitted to: Gregory F Stiber Submitted by: Brizaida Ribalta, Jessica Halsey, Shereen Hijazi. Date of Submission: August 30th, 2012 Title of Assignment: Term Project – Marketing Plan CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course. Student's Signature: Brizaida Ribalta, Jessica Halsey and Shereen Hijazi ***************************************************************** Instructor's Grade on Assignment: Instructor's Comments: Table of Contents Executive Summary 4 Company Description 6 The Origin of Nike, Inc. 6 Today’s Nike 7 Mission and Goals 8 Core competencies 10 Situation Analysis 11 Macro-Level External Environmental Factors 11 Competitive Environmental factors 12 SWOT Analysis 15 Competitors 16 Reebok 16 Adidas 17 Puma 17 Target Market 19 Segmentation 19 Target Marketing 19 Marketing Mix 20 Product Strategy 20 Distribution...
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...Running head: INCOME DISTRIBUTION IN THE UNITED STATES Income Distribution in the United States and the Lorenz Curve 1 Market economies are favored and well-known for generating macroeconomic growth and progress in industrialized nations, such as the United States. Numerous academic studies and economic research have been done not only to measure economic growth, but also to analyze any disparities in income distributions among the general American population. This paper will examine trends and patterns of American wages since the 1970s, focusing on shifts in income distributions to see if these shifts can be interpreted as income inequality across different sectors of our society. Furthermore, this paper will study two important and interlinked methods of measuring income inequality, which are the Lorenz Curve and the Gini Coefficient Index. The Executive Branch of our federal government and the U.S. Congress keep a close eye on income distributions throughout the entire nation. These bodies rely heavily on data collected and analyzed by non-partisan agencies such as the U.S. Census Bureau, the Internal Revenue Service (IRS), the U.S. Bureau of Economic Analysis, the Congressional Budget Office (CBO), and academic institutitions that provide data and statistical analysis to assist in economic and budgetary decisions made by elected officials concerning a wide array of policy issues such as taxes, social insurance programs and other issues that impact the overall economy...
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...On the market today, there are many different brands of sneakers ranging from the most popular brand like Nike to Reebok, Adidas, New Balance and Puma. Each offers the consumer various styles, color, purpose, comfort level and price. Sneakers have developed into a fashion statement as sneaker companies are developing new ideas that separate themselves from the competition such as color scheme and material. The sneaker industry is booming, but if it was not for one particular company that started the sneaker product, who really knows how much of an impact sneakers would have on billions of people. All sneaker companies need to recognize and appreciate Marquis M. Converse for creating Converse sneakers, which 60 percent of Americans own or have owned. Our group has a new marketing plan that we want to implement so that this company can get back to being one of the leading sneaker retailers in the world. Background It was in 1908 when in his late 30’s that Marquis Converse, who was a manager at a footwear manufacturing firm, opened the Converse Rubber Shoe Company in Malden, MA. Originally he began selling winterized rubber soled footwear for men, women and children. In 1915 after producing 4,000 pairs of shoes daily, Marquis began manufacturing athletic shoes for tennis. Two years later he designed and produced the world’s first performance basketball shoe called the Converse All Star. The new Converse All Star shoe helped revolutionize basketball. Synonymous...
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...On the market today, there are many different brands of sneakers ranging from the most popular brand like Nike to Reebok, Adidas, New Balance and Puma. Each offers the consumer various styles, color, purpose, comfort level and price. Sneakers have developed into a fashion statement as sneaker companies are developing new ideas that separate themselves from the competition such as color scheme and material. The sneaker industry is booming, but if it was not for one particular company that started the sneaker product, who really knows how much of an impact sneakers would have on billions of people. All sneaker companies need to recognize and appreciate Marquis M. Converse for creating Converse sneakers, which 60 percent of Americans own or have owned. Our group has a new marketing plan that we want to implement so that this company can get back to being one of the leading sneaker retailers in the world. Background It was in 1908 when in his late 30’s that Marquis Converse, who was a manager at a footwear manufacturing firm, opened the Converse Rubber Shoe Company in Malden, MA. Originally he began selling winterized rubber soled footwear for men, women and children. In 1915 after producing 4,000 pairs of shoes daily, Marquis began manufacturing athletic shoes for tennis. Two years later he designed and produced the world’s first performance basketball shoe called the Converse All Star. The new Converse All Star shoe helped revolutionize basketball. Synonymous with...
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