IMPACT OF SPORT LEAGUE

Financial Impact of Major Sport League on Local Community

Abstract

In this paper we will be discussing the financial impact of major sport league on local community. In addition to the basic concepts, we will also be covering the three main economic principles on which the major league needs to focus. The study will mainly cover different aspects of Detroit Red Wings. It will also highlight the social responsible of businesses, and how are they contributing the well being of the society. Furthermore, it will also be covering the policies made by the league and its implementation strategy. The overall evaluation of benefit to the local community will also be covered.

Table of Contents

Introduction1

Thesis Statement2

Research Method2

Literature Review2

Discussion5

Social Responsibility in Sport5

Organized Social Responsibility in Sport6

Analysis6

Synthesis8

Conclusion9

References10

Financial Impact of Major Sport League on Local Community

Introduction

Since the inception, sport has been contributing for the betterment of society. It has played a pivotal role in making lives of local community better. A sport does not only benefit those who are involved in the direct activity, but it also helps the social fabric of society. In this regard, sport leagues have utmost effect on society. It not only provides joy to the local community, but also helps them in their bad times. Many major sport leagues have proved themselves to be socially responsible leagues (Baade, 1996). They not only support the local community in need of an hour, but also help them continuously through the nonprofit organization. There are many nonprofit organizations, which are completely financed and supported by major sport league. The league sport activity has huge financial impact on local community. Many social welfare organizations have been financially supported by these leagues. These leagues provide them funds to rejuvenate the lives of many needy people.

Detroit Red Wings is one of those organizations, which support many social causes, and work for the welfare of local community. The organization is fortunate enough to assist numerous nonprofit organizations each year. They also raise funds through their sport activities. In addition, the organization has been working very efficiently, but there is a need to revisit the policies and strategies on the basis of three economic principles. The three economic principles can be stated as socioeconomic (Baade, 1996), institutional, and environmental. These are those economic principles, which are being used to measure the overall performance of the organization on a based criteria and helps in improving the policies and practices.

Thesis Statement

The purpose of this paper is to analyze the financial impact of major sport league on local community. In addition to the basic concepts, we will also be covering the three main economic principles on which the major league needs to focus

Research Method

The research method which I have used in this paper is collecting data from secondary sources. The information used in the paper is from secondary sources only. The secondary sources include; research articles, related websites, and interview videos.

Literature Review

Literature review on the topic will be based on the three economic principles, which are socioeconomic, institutional, and ...