Answer to Question #272539 in Management for Zeinab

Question

In the last decades, an increasing number of clubs, associations, and partnerships behind professional team sports have become business enterprises as well; as regards their income and number of employees, there are numerous companies managing sports clubs in the medium sized enterprise sector.

In order to develop and manage a suitable business strategy, a growing number of sports companies use processes applied in business solutions; the German football team VFB Stuttgart can be seen as an example, being the first in Bundesliga to introduce the Balanced Scorecard method for the definition of strategic directions and process control (IFUA Horváth and Partners, 2004).

Required: Identify two metrics or KPI's (Key Performance Indicators) for each of the balanced scorecard’s four areas for any sports team of your choice. (50 words)

                  

Answer 1

Involvement of measuring and tracking key performance indicators through business analytics software and analyzing tools, measuring and monitoring operational performance across the whole organization and measuring of the company's success verses the set of targets,objectives or industry peers.