Objectives and competences
The student will:
• Show competitive intelligence to detect signs of change, analyze trends, reactions and strategies of current and/or potential financial streams, revenues and expenses.
• Show skills for business in general and specifically in sport in order to detect new funding opportunities that can be transformed into successful sport investments.
• Develop financial management skills to support business sports decision-making, planning and forecasting.
• Demonstrate expert knowledge, experience and learning skills to face the complexity of financial management in sports.
Content (Syllabus outline)
Programs in amateur and professional sport as well as recreation have proliferated since the beginning of the twentieth century. Both the number of programs and the participants in each has increased. Despite the dramatic growth, one challenge remains a constant: finance. Whether finances are public or private in nature, the uniqueness of financing sport organizations and programs has proven to be a consistent challenge. Basic to all sport and recreation organizations is one of providing sufficient funds to run programs at a financially sustainable level. Identification of potential financial problems with suggested solutions would serve as a framework for a course in sport finance. Students will study the different methods and means by which sport and recreation have been financed.
1. MonitorIing money coming in and going out
2. Keeping track of expenses, fees, donations, etc.
3. Cutting unnecessary expenditures from the budget
4. Organizations budgeting policies and regulations
5. Importance of previous financial statements
6. Distinguishing significant expenses and assets whether they are realistic
7. Specific financial plan
8. Understanding insurance; price and quality
9. Tax related issues
10. Prepare reports and submit them to the appropriate personnel
Learning and teaching methods
• lectures
• discussions
• online activities (forum, blog, etc.)
• case studies
• problem-solving tasks
• project work
• cooperative learning
Intended learning outcomes - knowledge and understanding
Knowledge and understanding of:
• Explain the key economic concepts in contemporary sport necessary to understand financial decision-making in amateur, professional, and recreational sport.
• Identify and describe various approaches to financial accountability with their respective capacities for control, organization, and reallocation.
• Identify and demonstrate an understanding of economic impacts and financial statement analyses and planning.
• Formulate and assess some of the various methods that can be used to maximize streams of revenue and reduce costs in sporting events.
• Analyze the differences between revenue and non-revenue sports and profit and non-profit organizations and the impact of each in terms of financial and human resources.
Intended learning outcomes - transferable/key skills and other attributes
Knowledge and understanding of:
• Explain the key economic concepts in contemporary sport necessary to understand financial decision-making in amateur, professional, and recreational sport.
• Identify and describe various approaches to financial accountability with their respective capacities for control, organization, and reallocation.
• Identify and demonstrate an understanding of economic impacts and financial statement analyses and planning.
• Formulate and assess some of the various methods that can be used to maximize streams of revenue and reduce costs in sporting events.
• Analyze the differences between revenue and non-revenue sports and profit and non-profit organizations and the impact of each in terms of financial and human resources.
Readings
1. Stewart, B. (2017). Sport funding and finance. Routledge. ISBN 9780415839846.
2. Knez, S. (2024). Finančno načrtovanje v športu. Ljubljana: IBS Mednarodna poslovna šola.
3. Knez, S. (2024). Podjetništvo v športu. Ljubljana: IBS Mednarodna poslovna šola.
Additional information on implementation and assessment in-class participation (10%)
case study (10%)
courseworks (20%)
project (30%)
written exam (30%)
Note:
A passing exam grade is conditioned by a passing grade of elaborate (50% threshold) and a passing grade of a written examination (thereshold 50%) and the total average of partial grades that should exceed 50%
