Sport Recreation Training - Free Essay Example

Sample details Pages: 27 Words: 7954 Downloads: 9 Date added: 2017/06/26 Category Statistics Essay Did you like this example? Abstract Over 150 years ago sports sport and recreation management evolved. Clubs, leagues, and professional tournaments were all started by people credited with the development of sport and recreation management. This type of management mixes the business, management, and marketing aspects of sports into one. There are many colleges that offer some sort of sport and recreation management degree. To find out information about this degree resources can be used such as websites, books, and people in this career. One thing that may be found when researching is that the American Psychological Association is the most common writing style for sport and recreation managers. Writing is one way of communicating to others about sport and recreation management. Verbal skills are also used a lot. From playing baseball with a stick many years ago to hitting with a baseball bat, sports have come a long way. Sport and recreation management is becoming a more popular career the more popular and sophisticated sports get. Do not expect to see this career decline. Don’t waste time! Our writers will create an original "Sport Recreation Training" essay for you Create order Sport Management and Recreation Management People who share the same understandings and communicate the same way in a professional manner are said to be a professional community. The professional community that offers knowledge about the business aspects of sports is Sport Management. Sport Management is a type of management where people can work in sport related careers dealing with many different levels of sports (Masteralexis and Barr, 2005). Such levels include professional sports, college sports at the division 1-3 levels, high school sports and youth sports in communities or other programs that are offered. A variety of organizations across the country have a need to hire qualified management personnel who possess a theoretical background in sports. Some of the groups currently employed with sport manager positions are academic institutions, major and minor league professional sports franchises, and sporting good companies (Sport, 2007). Over the past 150 years the organization of sport developed and today still it continues to grow (Masteralexis and Barr, 2005). In the early days, sport managers learned from hands-on experiences to work in the sport industry (Masteralexis and Barr, 2005). Therefore, while the sport industry became more complex, there was a need to train and teach managers in a more formal fashion (Masteralexis and Barr, 2005). From this need the study of sport management emerged. At first it seemed as if one only needed to know about sports in general, but now there are many more things to know. Such things include knowledge in business, management, and marketing. Having education in all these fields only pertained to few sport managers in the workplace when this profession came about. Now it is a requirement for a degree. Training on how to use a curriculum began to teach sport management personnel the importance and significance of having a solid curriculum. James G. Mason a physical educator at the University of Miami, Florida and Walter OMalley of the Brooklyn (now Los Angeles) Dodgers discussed this idea in 1957 (Masteralexis and Barr, 2005). The first masters program in sport management started at Ohio University in 1966 and it was based on Mason and OMalleys ideas about sport management curriculum (Masteralexis and Barr, 2005). A little while after the Ohio University graduate program started up, Biscayne College (now St. Thomas University) and St. Johns University founded undergraduate sport management programs. The second masters program started in 1971 at Massachusetts-Amherst (Masteralexis and Barr, 2005). These colleges were the first to start these types of degrees. The number of colleges and universities across the United States that offer sport management majors grew rapidly (Masteralexis and Barr, 2005). By the mid 1980s the National Association for Sport and Physical Education (NASPE) figured there were over 40 undergraduate programs, 32 graduate programs, and 11 at both levels offering management degrees (Masteralexis and Barr, 2005). Today, there are over 200 sport management programs in colleges across the United States. In Canada there are just over twelve programs that offer sport management degrees (Masteralexis and Barr, 2005). The growth of this academic field was prompted by the sport industrys need for well-trained managers, but was also pushed by the universities and colleges need to attract students (Masteralexis and Barr, 2005). Colleges and universities that wanted to increase their enrollments in a highly competitive market added sport management programs to their curriculum in the 1980s (Masteralexis and Barr, 2005). People are majoring in sport management today because of the need in the field. It has become quite the popular major over the past years and the continuing growth has created demand for the organized study of sport management practices. The growth of this academic field drew concerns of qualified workers. To make sure that the right education and knowledge was obtained by managers, two groups were formed to assist in this. The first group was a group of people who examined this issue. They called themselves the Sport Management Arts and Science Society (SMARTS), which was initiated by the faculty at the University of Massachusetts-Amherst (Masteralexis and Barr, 2005.) This group laid down the groundwork for the second organization, known as the North American Society for Sport Management (NASSM) (Masteralexis and Barr, 2005). The purpose of this organization is to promote, stimulate, and encourage study, research, scholarly writing, and professional development in the care of sport management (Masteralexis and Barr, 2005). The sport management programs that are approved by the NASSM include sport marketing, legal aspects of sport, management and leadership in sport, ethics in sport management, budget and finance in sport, communication in sport, and the socio-cultural context of sport (Masteralexis and Barr, 2005). Sport management exists in other countries as well. There are other groups worldwide that use the same curriculum and promote the same education as the NASSM and SMARTS organization do (Masteralexis and Barr, 2005). It is good that world-wide universities are developing the same things so that graduates can work whereever they desire. It seems as if the program keeps more structured and uniformed every year. Management has a lot of different areas to it, but in sport management there are three areas to include that are most important. The first area is the goals and objectives that need to be achieved, the second area has limited resources, and the third area is to have limited resource with people and through people (Masteralexis and Barr, 2005). As a manager for any kind of business whether it is in sport or not, ones main goal is to get employees involved in what needs to be accomplished. This is an important goal because if the employees do whatever they want to when working, the organization is going to decrease and could end up with unachieved goals. Management is a process of using ones knowledge and understanding (Masteralexis and Barr, 2005). In using this process one needs to understand the areas of planning, organizing, leading, and evaluating. The development of this theory went through a number of distinct phases; two of these phases were Scientific Management and the Human Relations Movement (Masteralexis and Barr, 2005). Fredrick Taylor was the first true founder of the management theory (Masteralexis and Barr, 2005). He published a book called The Principles of Scientific Management which was the foundation of scientific management in the 1900s (Masteralexis and Barr, 2005). Working as an industrial engineer Taylor had a big concern on the way that is fellow employees where doing their work (Masteralexis and Barr, 2005). Taylor thought that the scientific method is the best way to perform better while working on the job (Masteralexis and Barr, 2005). In other words the best way for workers to perform better is to reward them with economic rewards. The second phase is human relation. From 1927 to 1932. Elton Mayo was on a team that conducted the Hawthorne studies at Western Electrics Chicago plan (Masteralexis and Barr, 2005). He studied how the workers were motivated during work and examined how the changes in the work environment affected output. Mary Parker Follett is also a person who was popular in the writing and work of human relations movement (Masteralexis and Barr, 2005). Follett was a female consultant in the 1920s; she worked with the male-dominant industrial world (Masteralexis and Barr, 2005). Follett observed workers as people with attitude, beliefs, and needs (Masteralexis and Barr, 2005, p.20). Follett believed that management was better in a partnership and cooperation and to have people skills in the organization was way more beneficial to the organization (Masteralexis and Barr, 2005). Human relations are more beneficial in management because it focuses on the behavior of people and human components in the organization rather than focusing on forming a task, like in scientific management. Todays society the study is brought upon human behavior within the organization, which fits into the scientific management and human relations approach. This is what is called Organizational behavior, it characterizes the modern approach to management (Masteralexis and Barr, 2005). Organizational behavior studies the application of the human side of management and organizations (Masteralexis and Barr, 2005). Organizations have gone through many changes. Managers have been busy with their organizations because of downsizing, globalizing, installation and usage of information technology. Managers are striving to improve on productivity and competitive challenges that these changes have brought the organization. Through the changes that evolved in these organizations one thing is still clear, the lasting competitive advantage within organizations comes through human resources and how they are managed (Masteralexis and Barr, 2005). Sport managers perform in many different function areas and work on many activities to fulfill the demands of their jobs. The functional areas that sport managers do are planning, organizing, leading, and evaluating. Planning involves defining organizational goals and determining the appropriate means by which to achieve these desired goals (Masteralexis and Barr, 2005). Organizing is all about having your plans and making sure they are put into use. After organizing sport managers must lead, leading is where the sport manager directs the activities of employees as he or she attempts to accomplish organizational goals (Masteralexis and Barr, 2005). The last step is evaluating, this is where sport managers measure and ensures the progress toward organizational goals. With the sport management field comes a lot of responsibility and knowledge. All the information provided should help one determine the professional community and how to go about learning everything there is to know about the field. History of Sport and Recreation Management The organization of sport management developed over 150 years ago in England (Masteralexis Barr, 2005). The most popular sports were track and field, all the variations of football, and stick and-bat games such as baseball, field hockey, and cricket (Masteralexis Barr, 2005). Englands popularity in sports grew and soon other countries were adopting such sports. Other sports such as basketball, gymnastics, and golf were developed in other countries and later adopted into Englands society. Many years have come since the beginning of sport management. As society changes so does sport management. Managers need to be flexible and consider the changes in society to be successful. Every year the rules and regulations change, thus the management side does too. Throughout sport managements history there have been specific events and people who have contributed to its success. In this management style there are three structures of sports that are important. They are clubs, leagues, and professional tournaments (Masteralexis Barr, 2005). The following paragraphs will give a short summary of each of them and what events or people contributed to them, and also other important events and people that contributed to sport management. One of these events is horse racing. Humans have been interacting with horses for a many decades. It was not until around 1750 that riding horses become a sport. The Jockey Club was founded in London by a group of men brought together by their shared passion for and commitment to horseracing (Maxse, 2007). This club became an effective organization with the management of horse racing. There were approximately 130 members to this club who were elected because of their knowledge and experience of racing (Maxse, 2007). The Jockey Club has grown from one course in London to fourteen courses and hoped to add more. As a person can tell this club was one of the first sports related clubs to come about and it has grown since. Other sports derive from the modern Olympics, which started in 1896. April 6, 1896 was a day where thousands of spectators viewed the first ever modern Olympics located in Athens (Gettings, 2007). The idea of this program was created by Baron Pierre de Coubertin of France (Gettings, 2007). He wanted to create something where all nations could come together because of sports, and that is how it all started. The 1896 Olympics had fourteen nations participate in the following games: track and field, fencing, weightlifting, rifle and pistol shooting, tennis, cycling, swimming, gymnastics, and wrestling (Gettings, 2007). It was said that this was to happen annually and that each year it would be located at a different location world wide. This event is important because it is still currently going on and it has evolved into much more. The modern Olympics were a great program that led to numerous other organizations, such as the North American Society for Sport Management. The North American Society for Sport Management was started in 1985 to promote, stimulate, and encourage study, research, scholarly writing, and professional development in the area of sport management (Cuneen, 2000). This group focuses on topics such as leadership, motivation, communication, organization, ethics, marketing, professional preparation, and financial administration related to sport and exercise (Cuneen, 2000). The NASSM works with local, regional, national, and international organizations to help stay current and informed of all situations. Most of NASSMs members are sport management educators who teach, research, and serve the institution from both the United States and Canada (Cuneen, 2000). Today this group still exists and it has helped sport managers make decisions and gives them resources. The work of the NASSM has opened the eyes of educational institutions for the need of a sport management program. The first masters program in sport management was established at Ohio University in 1966 ((Masteralexis Barr, 2005). Walter OMalley first thought of the idea of a masters program, but did not have the time to pursue this idea. When James Mason heard of the idea he brought it to life. The program focused in depth on contract negotiation, facilities management, and marketing, which could contribute to more efficiently and effectively running a sports organization (Walter, 2008). This program is still running today and has produced many executives in sports industries. One executive that came from a sport management degree program was Garry Bettman, lead executive of the NHL. The Stanley Cup is awarded to the NHL players when they win the championship game, the last game of the NHL season. The Stanley Cup is the most desirable championship trophy in all of sports (Stanley, 2008). It has more than one name; people call it The Cup, The Holy Grail and the of course Lord Stanley Cup (Stanley, 2008). The Stanley Cup is the oldest sports trophy in North America (Stanley, 2008). The trophy was donated by former Governor General of Canada Lord Stanley of Preston in 1892 as an award for Canadas top-ranking amateur ice hockey club (Stanley, 2008). In 1915, the two professional ice hockey organizations, the National Hockey Association and the Pacific Coast Hockey Association, reached a gentlemens agreement in which their respective champions would face each other for the Stanley Cup (Stanley, 2008). Since there were a lot of league mergers and folds, it became the de facto championship trophy of the NHL in 1926, and the Cup later became the de jure NHL championship prize in 1947 (Stanley, 2008). Sport management relates to the Stanley Cup because it is a huge achievement to all the people who are related in this profession. Fredrick Arthur Stanley was born into an upper-class family on January 15, 1841 in London, England (Shea, 2006). For centuries his family played an important task the political life in England. Stanley was the youngest boy of the fourteenth Earl and Derby, who would serve as British prime minister on three separate occasions (Shea, 2006). He served in office on June 11, 1888 after sailing across the Atlantic Ocean with his wife, Lady Constance Stanley (Shea, 2006). His term in office closely paralleled Canadas early history (Shea, 2006). The first Prime Minister Sir John A. McDonald had a stroke, so Lord Stanley took his place traveling coast to coast on Canadas new railways to meet people and give further notice on Canadas new settlement (Shea, 2006). He wanted to keep Canada together because at that time the United States wanted to take over Canada. He also took control over the growth of the great sport hockey. He organized games with other employees and later formed a traveling s quad called the Rideau Rebels which helped spread the love of the game into other centers, including Toronto, which had not yet not yet embraced the young sport (Shea, 2006). After watching many games Lord Stanley wanted to donate a trophy to the team that was the best. He decided to put his name on the Cup and now it is the Cup that every hockey player in the world dreams of winning one day. Luther Halsey Gulick was an asset to the history of sport management. Throughout his life he was always involved in things relating to sports. He started college in 1884 studying physical education (Winter, 2004). He was always interested in physical education and hygiene (Winter, 2004). He began his career as the physical director at the YMCA in Jackson, Michigan. The following year he became head of the gymnastics department at the Young Mens Christian Educations Springfield Training School (Winter, 2004). There he had one of his students help him come up with a set of rules so they could design a game with them. This game became known as basketball. At the same time he was also the international secretary for the physical training department at the YMCA as well as the secretary of the American Association for the Advancement of Physical Education (Winter, 2004). In 1903 he became the first director of physical education in the public schools of New York City (Winter, 2004). He was also on the Physical Training Lecture Committee. In 1904 he initiated the Public School Physical Education Society and the next year founded the informal Academy of Physical Education. He was on the committee for the Olympics in 1906 and 1908 (Winter, 2004). He became one of the founders of many associations related to physical education. He was president of the American Physical Education Association for three years, president of the Public School Training Society for three years, and president of the Playground and Recreation Society of America for four years (Winter, 2004). He also founded the girl scouts program and published many books. Gulicks last job was to serve as chairman of the YMCAs International Committee on Physical Recreation of the War Work Council (Winter, 2004). With this job he traveled internationally and surveyed soldiers on their moral and physical well being. He died in 1918 at age 53 (Winter, 2004). Gulick made many contributions to the sport management fie ld. He started up and directed many programs and organizations and has influenced many people. Gulick was one of the people who started basketball. He is a type of person like Fred Corcoran, who was on of the first founders of Ladies Professional Golf Association. Fred Corcoran was born April 4, 1905 in Cambridge, Massachusetts (World, 2008). In the years before World War II, Corcoran helped found the Ladies Professional Golf Association, the World Cup and Golf Writers Association of America (World, 2008). His knowledge and ideas brought out the best in him. He was one of the founders of the World Golf Hall of Fame. He was one of the sports first agents, managing the careers of Babe Zaharias, Tony Lema and Sam Snead (World, 2008). His biggest achievement in this sport was leading it to its Golden Age. When Corcoran was nine years old he got his first job in golf (World, 2008). He was a caddy at Belmont C.C. near Boston (World, 2008). When he was twelve he moved up to a masters caddy and from there he kept moving up the ladder. When he was a teenager he was an assistant golf secretary for the Massachusetts Golf Association at Belmont (World, 2008). This was a turning point in Corcorans life; he put tournament scoring into history. He was the one that kept spectators and the media up to date on the tournaments progress (World, 2008). He was then made the official scorer for golf. After being golfs official scorer he moved on to Pinehurst and worked as an assistant golf secretary in the office of Donald Ross, the golf course architect (World, 2008). In 1936, the Professional Golf Association (PGA) of America hired Corcoran as tournament manager of the professional tour (World, 2008). Corcoran was twenty-eight when he took this job. The deal was he would run and promote the tour (World, 2008). Corcoran was always in the right place at the right time. For the next forty years, he would manage many people including baseball hall of famers and golf professionals (World, 2008). Corcoran was inducted into the Golf Hall of Fame and his name is a legacy for the sport of golf. Corcoran is a person that contributed to sport management because he started so many professional leagues like the LPGA and the PGA. He contributed his life to make the sport of golf the way it is today. Corcoran was a major tribute to the world of golf. Another person who is a big part of sports would be Ford Christopher Frick. Ford Christopher Frick was born December 19, 1894 in Wawaka, IN (Fleming, 2007a). In 1916, he went to Colorado Springs to become an English teacher (Fleming, 2007a). He wanted to take a different route for a career and started working for the local newspaper. In 1919 he opened up his own advertising agency and wrote the editorial column for the Colorado Springs telegraph (Fleming, 2007a). After working in Colorado Springs for three years he moved out to New York and worked for the New York American (Fleming, 2007a). One year later he wrote the evening journal. He would eventually move up in the world of being a writer and wrote about the New York Yankees and became Babe Ruths number one writer. In May of 1930, Frick worked with radio and became a sportscaster (Fleming, 2007a). He worked in sport casting until 1934 when he was elected the new and first director of the National League Service Bureau, which was the publicity outlet for the National League (Fleming, 2007a). Frick was ele cted president after his term as director ended. His first thought for the sport of baseball was to include a Hall of Fame to honor baseballs great players. Frick was an inspiration to baseball. He was elected commissioner in 1951 and kept teams from going bankrupt (Fleming, 2007a). He was the commissioner for one of the most memorable times in baseball when Roger Maris and Mickey Mantel were going for the home run record to break Babe Ruths record in a single season. In the time that Maris and Mantel played they had more single season games than Ruth did, so as commissioner of baseball Frick could make rules. He made a rule that Maris and Mantel had to break the record in the same quantity of games that Ruth played. He resigned a commissioner in 1965 after being the commissioner of baseball for fourteen years (Fleming, 2007a). He was seventy one at the time he resigned (Fleming, 2007a). He was inducted into the Hall of Fame in 1970 and passed away in 1978 (Fleming, 2007a) After his death an award was dedicated in his name for baseball broadcasters with distinguished careers (Fleming, 2007a). This award is given to broadcasters who are inducted into the broadcasting side of the Hall of Fame. Frick is probably the most memorable person in the sports industry. His dedication working with the media, being a director, president and commissioner is a great thing for sport management. Fred was a huge part of baseball and contributed a lot of time to the game, another man who did the same is William Hulbert. William Hulbert was born on October 23, 1832 in Burlington Flats, New York (Fleming, 2007b). William was the President of the Chicago White Stockings. He put together some of the best teams in baseball (The First Major League, 2008). He was a businessman so all he wanted to learn to do was make money (The First Major League, 2008). Hulbert felt that the teams were not organized the right way. The teams that lost out in the first rounds would go back home and play showcase games against teams that were not in the league. The association was made in the east and this made it difficult to play teams that were located in the west. Hulbert came up with a plan, he organized eight teams, four in the east and four in the west that was committed to a full championship schedule and had the teams not play teams outside the league to avoid complication (The First Major League, 2008). The eight teams that were in the association had a meeting in New York City on February 2, 1876 (The First Major League, 2008). At this meeting all the teams sat down and talked and agreed on to form a new organization, the National League of Professional Baseball Clubs, which was to become the first true major league (The First Major League, 2008).Hulbert contributed to sports management by being the President of the Chicago White Stockings, putting together a plan to have teams play for a championship, and being one of the first people to make baseball a major league sport. The people that I talked about all have something in common. They all were involved in sport management in some kind of way. These people lived it and dedicated themselves to do the best job they could do for sport management and sports. These guys are good at what they did and know one can take that away from them. Sport and Recreation Management Resources As a sport and recreation manager, like any other job, one will not know everything there is to know about ones career. There will need to be people, books, websites, and other publications that one uses to get answers and advice from. All of these are good ways to approach situations and it is good to get many views and choose the one that works the best. One resource sport and recreation managers use is other managers in their field. Many managers who have been working in the position for a while have been through the same experiences. Since they are experienced they would know how to do things and be able to answer questions. Managers might also refer to other resources they use, such as magazines, websites, local radio stations, books, and employees. Mr. Kleven is the Director of Park and Recreation here in Crookston. He uses resources like National Recreation and Park Association (NRPA), Minnesota Recreation and Park Association (MRPA), Crookston Youth Basketball Association (CYBA), Youth Activities, and Crookston Youth Soccer Association (CYSA). These are the main resources that Mr. Kleven uses on a daily basis that help him do his job well. The National Recreation and Park Association is an association that has been around for years. In places across the United States the NRPA has been building parks and recreation areas for people to ride bikes, hike, play catch, or even have their pets run around and play with. Their mission is to Advance parks, recreation and environments conservation efforts that enhance the quality of life for all people. (About APRS, 2007). The values they believe in are to offer good quality facilities, employees that meet the standards of good services to bring out a better community, and have responsible programs for the youth (About APRS, 2007). The NRPA is the nations largest professional and citizen organization dedicated to advancing park, recreation, and conservation efforts that enhance the quality of life for all people (About NRPA, 2007). There are over 20,000 professionals, citizen advocates, educators, and students from diverse backgrounds with the same passion for promoting healthy l ifestyles and livable communities (About NRPA, 2007). There are associations that branch off from the NRPA. One of these associations is the American Park and Recreation Society (APRS). According to the National Recreation and Park Association, this association is the largest professional branch of the National Recreation and Park Association, which consists of more than 8,500 members. The NRPA also states that the APRS consists of professionals who work in the local delivery of park, recreation, and leisure services. This branch has members who symbolize character and concerns for park and recreation. There mission is To strengthen the park and recreation profession; to enhance the quality of life. (About APRS, 2007). The Minnesota Recreation and Park Association (MRPA) is an organization structure that includes members, Board of Directors, Executive Director, membership services, and recreational sports teams (Strategic Plan, 2005). The MRPA has a recreation service function that is attentive and accountable for the recreational services that they provide (Strategic Plan, 2005). Minnesota Recreation and Park Association provides sports like Adult and Youth Softball, Volleyball, Basketball, Broomball, Booth Hockey, Touch Football, Hersheys Youth Track and Field, and they have a Select Special Event programs that allow the youth to go spend the day with the Timberwolves, Lynx, Twins, Swarm, and the Golden Gophers (MRPA 2005-2010 Strategic Plan, 2008). This organization is an organization that supports recreation both in youth and adult, this is why they have a good reference of success. Crookston Youth Basketball Association (CYBA) promotes enthusiasm for basketball and emphasizes skill development and fun (About CYBA, 2008). The CYBA was formed in the early 1990s by a group of individuals interested in encouraging participation in youth basketball (About CYBA, 2008). This association promotes kids from ages nine to fifteen to travel and play basketball. CYBA encourages kids in the summer to shoot and keep track of how many baskets they make and then rewards them with a prize relating to the number of baskets made. This is a way to keep the youth basketball players on track with their skills during the months that there are not practicing. In this program participating youth families must pay a $20.00 fee, but anyone who supports this program can be a member and pay $20.00 a year, even if they do not have kids in the program (About CYBA, 2008). Crookston Youth Soccer Association (CYSA) is an organization that is made up of a board of directors. It consists of individuals, families, coaches, and referees (Welcome, 2008). The CYSA promotes summer soccer for 3-12 graders. During the months one can not play soccer outside, they have a facility to play soccer indoors. This organization raises money for the youth players and the fields they play on. They help support high school and junior high boys and girls soccer also (Welcome, 2008). The CYSA is a strong organization that wants kids to play soccer. They do a lot for these youth to help them grow up to be good athletes, especially playing soccer. Many people in the community find out about sport issues through the radio and television. Different news and sport broadcasters let the public know about upcoming games and events. Sport and recreation managers, like Kleven, use these resources to obtain some information and statistics from games, events, and meetings. Crookston has a local radio station called KROX. This is a type of resource that Kleven uses for his job. KROX keeps the community updated on events and has a great sports section for people who like sports around the community. They involve all levels of sports from youth leagues, varsity, and adult leagues and have daily and weekly shows with sports players and their coaches. KROX is also very good and broadcasting live games or local sporting events, no matter where they are located. When there are two games played at the same time they usually have a broadcaster at each game and record one and play that after the other game is finished. They keep a current website available at www.kroxam.com. This website gets many visits a day. The sports page gives all the information needed about any Crookston sports team or Minnesota professional teams. It even has live web casts for people that live out of the radio stations range, so they can listen to selected games on the computer broadcasted live from KROX. This radio station is a very good resource for various teams and information. The Crookston Park and Recreation Department offers sport programs for youth. Some summer programs include baseball, softball, tball, golf, tennis, others. In the winter they offer basketball, hockey, and indoor soccer. The City of Crookston hires students from around the community to work with children and also to be role models. The youth program involves youth from grades preschool through ninth grade. The City of Crookston is a well know town for there youth programs. The Park and Recreation workers work hard to maintain fields, tennis courts, and other parks around the town. This is a great resource for other towns to look at because they can get ideas of things that are successful in Crookston. Resources are such an important part of anyones career. It makes things easier for the manager if things can be done the correct way the first or second time. With all the information out there now, including the internet and brochures, there should be a way to find out whatever kind of information you need. Communication Paper One of the largest components of a sport and recreation managers job is ones ability to communicate. Communication is a vital role in many circumstances. It shows how one reacts to certain situations and how effectively ones job is done. There are different ways to determine what kind of communication skills are being used or should be used. Communication Styles There are three basic types of communication styles: aggressive, passive, and assertive. Each style will best fit each individual. Aggressive communicators think everyone should be like them. They often have trouble listening and seeing other peoples point of view. They are bossy and impatient to others. On the other hand, passive communicators always agree with everyone. They let others make choices and they feel powerless. The kind of communicator a good sport and recreation manager should obtain is the assertive style. Assertive communicators are effective listeners, trust self and others, and are confident in their choices. They have good enthusiasm and are able to motivate others (Sherman, 1999). This will help them with the communication skills that they will use. Communication Skills With assertive being the style of communication that best fits this profession, next the communication skills need to be acquired. Some good communication skills include speaking, listening, interviewing, reading, writing, giving feedback, and being interview (Communication skills, 2008). These would all be ideal for every sport and recreation manager to have. Speaking is the most commonly used form of communication. Sport and recreation managers need to speak to their employees, the community, and people utilizing the activities provided. It is done to explain things, to provide information, or just to have conversations. There will need to be meetings that are put on where the manager speaks on issues. There will also be phone calls, interviews, and feedback reports that should be a verbal type of communication. Speaking is an effective way to communicate with anyone. To let people know one has full attention, good listening skills are needed. Employees, the community, and people utilizing activities want to know that the manager cares about what they have to say and will deal with their concerns. Situations where one would use this skill would be in meeting, general conversations, interviews, grievance issues, questions, and concerns. All managers need good interviewing skills. There will always be the need to hire employees. They need to be sure that they get the right applicant for the job through the interviewing process. There are many different things to read. One will get emails, notices, letters, faxes, bulletins, brochures, etc. To understand the information or what is being asked of one needs to be able to read efficiently. The sport and recreation manager will have things that may be read out loud to other people or to themselves. For all the different ways to read things one may also write them. The sport and recreation manager will have to send letters, emails, etc. out to the employees, community, and people utilizing activities. They need to be updated and informed on matters that concern them. They may write things down while someone else is talking, which would also require good listening skills, or they can just write down information that they have questions on or to remember things better. When employees do good and bad things, feedback should be given to them. They need to know what is being done right and wrong so they can perform to the sport and recreation managers standards. Feedback is done at least annually and can be done whenever needed or observed. There will be times in a sport and recreation manager career where they will be interviewed. Whether it be for a news station, paper, or for a students research paper they need to be on top of what is going on and be able to answer questions on the spot. These styles of communication are used not only as a sport and recreation manager, but for many types of professional communities. The styles cover almost every kind of communication style commonly used. Communication on a Regular Basis Verbal and written communication will be used everyday. There will be certain things that are not communicated as commonly as others, but still used. On a daily basis a sport and recreation manager will have mail to open, emails to read, meetings to attend, and people to talk to. Weekly will most likely use the same communication skills. On a monthly basis there will be other kinds of meetings or events to utilize communication skills at. There will also be quarterly reports that need to be read and explained to other employees. Yearly there are usually annual meetings to attend. These are just some of the more common types of regular basis communication skills used by sport and recreation managers throughout their career. A good person that uses these tasks every day would be Dr. David Rolling. Dr. Rolling is the Sport and Recreation Manager Program Coordinator at the University of Minnesta, Crookston. He attended Bemidji State University in Bemidji, MN, to get a bachelor degree in Sport Management and a masters degree in Sport Studies (David Rolling, 2008). He got his Ph.D. in Sport Administration at the University of Kansas in Lawrence, KS (David Rolling, 2008). Dr. Rolling was also an athlete. He played minor league baseball and hockey growing up. After he was done playing he coached. He has coached at division 1, 2, and 3 levels for hockey and baseball. He currently is the UMC Golden Eagles assistant hockey coach. He also has worked in the professional level for football. He was a player compensation for the Kansas City Chiefs, which deals with players contracts and negotiations. Dr. Rolling currently works at the University of Minnesta, Crookston as the Sport and Recreation Manager Program Coordinator, a professor and is the advisor for all of the Sport and Recreation Management degree students. He teaches six classes a semester. Some of those classes are Seminar in Sport and Recreation Management 4099, Exercise Physiology 3320, Sports Marketing 3006, and Sport and Recreation Law 3002. Rolling has been here on campus for two and a half years. As stated earlier, one of the largest components of a sport and recreation managers job is ones ability to communicate. Now that all the styles, kinds, skills, and ways of communication have been presented one can really see how often communication is used. The perfect candidate would have all of these traits, but lets face it, no one is perfect! APA Compared to MLA Paper formatting is based upon the rules of the particular style one is using (Paper, 1999). There are many different ways to format a paper. All styles define how a paper should be written, the format of the paper when printed, and how references are cited (Paper, 1999). One may ask, why the need for all of this? The answer is to give credit to the author or publisher for their original work and to let others know where the information was obtained so they may utilize it too. Two of the more common types will be discussed and compared. The first style is used by sport and recreation managers and the second is used by other career fields. American Psychological Association (APA) is the most selected writing style. APA style specifically points out names and order of headings, formatting, and organization of citations and references (APA, 2008). This style points out the arrangement of tables, figures, footnotes, and appendices, as well as other manuscript and documentation features (APA, 2008). APA provides the basic guidelines for documenting print and electronic resources (APA, 2008). In an APA style paper there are certain sections that should be included in the paper, with each section starting on a new page. The sections include: title page, abstract, body, references, author note, footnotes, tables, and figures (APA, 2008). Modern Language Association style (MLA) requires that specific rules be followed for formatting manuscripts (Enzine, 2008). This style provides writers with a system that is suitable to cite references, the usage of which enhances the writers credibility by listing outside sources in order to give recognition where it is due (Enzine, 2008). One advantage of this style is that it provides a writer protection from plagiarism. There are many other things that differ between APA and MLA. The guidelines for APA are: Assignments must be typed double-spaced on 8.5 x 11 inch pages. The title page must include bylines, titles, or running headers. Page numbers must be included (similar to MLA) followed by 5 spaces, then an abridged version (2 words) of the papers title. Some instructors require students to prepare an abstract which is a 75 to 100 word overview of the chosen topic highlighting the major points of discussion in the paper. It must be set up on its own page with the word Abstract centered at the top of the page, and placed right after the title page. Headings are not specifically necessary but can be helpful in navigating through a paper. Every word of the heading must be capitalized with the exception of articles such as the, a, and an, and certain conjunctions such as and, and but. Visuals such as tables and figures including graphs, charts, and drawings may be included; however, each must be labeled with an Arabic numeral i.e. Table 1, Table 2, etc. Titles must be flush left; each inserted illustration must include its source. Lists of all references must be included on its own page at the end of your written work. Each reference should be centered, starting at the top of the page (also double spaced) and listed in alphabetical order according to the authors last name, editor, or by the title of the work (excluding the words A, An and The) (Ezine, 2008). Guidelines for MLA are: Assignments are to be typed on pages no larger that 8.5 x 11, double spaced, with either Times New Roman font, or Courier. One space must be inserted between all punctuation marks. Margins must be set to one inch on all sides of the paper. All paragraphs must be indented one inch (one tab) from the left margin of the page. Headers must be inserted on each page in the upper right hand corner displaying the page numbers of the essay consecutively (some instructors will ask that a students last name follow the page number on each page). If endnotes are included in your work, they must be placed on the last page, right before your works cited page (Ezine, 2008). APA and MLA references are cited two different ways. When citing from books in MLA one writes: Welch, Ben. Football Plays for Youth Football. 4th ed. Minnesota: Football, 2008. When citing from books in APA one writes: Welch, B. (2008). Football Plays for Youth Football. Minnesota: Football Basics. Journal articles for MLA are written: Donaldson, Scott. Protecting the Troops from Hemingway: An Episode in Censorship. The Hemingway Review 15 (1995): 87-93 (MLA, 2008). Journal articles for APA are written: Baptista, L. F. (1984). Song leargning in the anna hummingbired. Ethology, 84, 15-26 (MLA, 2008).The citation list for MLA should have a titled page called Works Cited. In APA style the titled page for citation should be called resources. Citing in text is also done differently. When you cite one author in APA style you cite (Henneberg, 2008, 9). In MLA format you cite (Henneberg 9). They are very similar to each other and could easily be mixed up. In conclusion MLA and APA look similar, but specific guidelines make them different. MLA and APA are great ways to write papers. Students, writers, and professors across the world use these style manuals to write papers, books, journals, and other documents. These styles are great for all people to use, because of the basic rules to follow. References About APRS. (2007). National Recreation and Park Association, Retrieved March 11, 2008 from https://www.nrpa.org/content/default.alpx?documentId=525 About CYBA. (2008). About Crookston Youth Basketball Association (CYBA), Retrieved March 11, 2008 from https://www.crookstonbasketball.com/about.htm About NRPA. (2007). National Recreation and Park Association, Retrieved March 11, 2008 from https://www.nrpa.org/content/default.aspx?documentId=25 Air Way College Gateway to the Internet. (2008). Communication Skills, Retrieved April 1, 2008, from https://www.au.af.mil/au/awc/awcgate/awc-comm.thm APA Style. (2008). From Wikipedia, the free encyclopedia. Retrieved April 21, 2008 from https://en.wikipedia.org/wiki/APA_style Cuneen, J. (2000). North American Society for sport Management History: Retrieved February 25, 2008, from https://www.nassm.com/InfoAbout/NASSM/History Ezine Articles. (2008). MLA Writing Style vs. APA Writing Style, Retrieved April 21, 2008 from https://www.ezinearticles.com/?MLA-Writing-Style-vs-APA-Writing- Stye#id=921055 Fleming, F. (2007a). Ford C. Frick, Retrieved February 26, 2008, from https://www.sportsecyclopedia.com/mlb/comish/frick.html Fleming F. (2007b). William Hulbert, Retrieved February 26, 2008, from https://www.sportsecyclopedia.com/mlb/comish/frick.html Gettings, J. (2007). The First Modern Olympics: Athens, 1896, Retrieved February 25, 2008, from https://www.infoplease.com/spot/summer-olympics- Glove University Minnesota School of Business. (2006). MLA vs. APA: A Basic Comparison, Retrieved April 21, 2008 from https://students.msbcolege.edu/library/guides/citecompare.html Masteralexis, L. P. Barr, C. A. (2005). History of Sport Management, Principle and Practice of Sport Management (pp. 1-22). Sudbury, MA: Jones and Bartllett Maxse, J. (2007). The Jockey Club. Retrieved February 25, 2008, from https:// www.thejockeyclub.co.uk/pdf.php?id=41588filename=2007_anual_review MLA vs. APA. (2008). Retrieved April 21, 2008, from https://dept.lamar.edu/writingcenter/images/MLA%20%APA.doc MRPA 2005-2010 Strategic Plan (2008) Minnesota Recreation and Park Association 2005-2010 Strategic Plan, Retrieved April 1, 2008 from https://www.org.strategicplan.html Paper Writing. (1999). Formatting the Paper. Retrieved April 21, 2008 from https://www.music.miami.edu/research/writing/style.html Rolling, David. (2005). Curriculum Vitae. Retrieved April 2, 2008 from https://directory.umcrookston.edu/resumes/resume_david_rolling.pdf She, K. (2006). Stanley Cup Journal. Retrieved February 26, 2008 from https://www.hhof.com/htmlexSCJ06_02.shtml Sherman, R. (1999). Understanding Your Communication Skills. Retrieved April 1, 2008 from https://www.au.af.mil/au/awc/awcgate/aba/comm_style.html Sport Management Career Overview. (2007). Retrieved February 11, 2008 from https://www.guidetocareereducation.com/spor-management-career-overview.html Stanley Cup. (2008). Retrieved February 26, 2008 from https://en.wikipedia.org/wiki/Stanley_Cup Strategic Plan. (2005). Minnesota Recreation and Park Association 2005-2010 Strategic Plan, Retrieved March 11, 2008 from https://www.mnrpa.org/../strategicplan.html The First Major League (1875-1889). (2007). Retrieved February 26, 2008 from https://www.hickoksports.com/history/baseba04.shtml Walter OMalley. (2008). Retrieved February 26, 2008 from https://www.sportsad.ohio.edu/history/omalley.html Welcome to the CYSA (2008). Crookston Youth Soccer Association. Retrieved March 11, 2008 from https://www.crookstonsoccer.com Winter, T. (2004). Luther Halsey Gulick. Retrieved February 25, 2008 from https://www.infed.org/thinkers/gulick.html World Golf Hall of Fame Profile: Fred Corcoran. (2008). Retrieved February 26, 2008 from https://wgv.com/hof/member.php?member=1037

Is Emotional Intelligence Beneficial for Effective...

There are many different definitions of what emotional intelligence is and exactly which components should be included to comprise it. The most basic model of emotional intelligence is the four branch model described by John Mayer and Peter Salovey in 1997. The key concepts included in the four branch model are: emotional intelligence is the ability to perceive emotions, to access and generate emotions so as to assist thought, to understand emotions and emotional meanings, and to reflectively regulate emotions so as to promote both better emotion and thought (Mayer Salovey, 1997).† The scientific definition of emotional intelligence, according to John Mayer, Peter Caruso and Peter Salovey is that emotional intelligence refers to†¦show more content†¦Goleman refers to relationship management as â€Å"inspirational leadership (Goleman, Boyatzis, McKee, 2002).† After studying both the four branch model and Golemans writings, one of the characteristics of emoti onal intelligence as I understand it is the ability to manage feelings and handle stress. Instead of those feelings and stress becoming a hindrance, the emotionally intelligent individual knows how to use them. The emotionally intelligent leader makes these traits work for them, not only to better relate to staff members, but to guide them and motivate them in order to better do their job and to obtain the goals of the organization. As an example, in the book Primal Leadership Daniel Goleman relates a story of a company that was personally affected by the tragedy of 9/11 (Goleman, et al., 2002). This financial company had family members, friends and coworkers taken away by this event. Instead of internalizing what he was feeling the leader called a meeting with his staff to discuss what they were all going through. They discussed how they wanted to do something about the tragedy to help contribute. So it was decided that they would donate the profits of one days trading to a f und for the victims of 9/11. On average one days trading was between five-hundred thousand and one million dollars. 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Leadership has been studied through traits, sets of behaviors, situational circumstances, and assumed intellectual process which have caused paradigms in leadership theories (Badshah, 2012). The relationships involving the interactions between leaders and followers has been altered and transformations have occurred. For example, through the phenomena of leadership thereRead MoreLeadership : Leadership And Followership996 Words   |  4 PagesLeadership and followership are two sides of the same coin. However, one of these topics is more closely studied than the other. Leadership is studied in the halls of famous universities and discussed in various books and articles. Many of these discussions involve the same question; what makes a good leader? The question to this answer is both the cause, and the product, of excellent leadership, good followers. What a leader strives to create in the company can only be completed by a force of followersRead MoreEmotional Intelligence and Empathy in Leadersh ip Essay example1702 Words   |  7 Pageseducation is lacking in regard to the study of emotional intelligence and empathy within their business leadership programs. Empathy is defined as, â€Å"the feeling that you understand and share another persons experiences and emotions: the ability to share someone elses feelings,† (Merriam-Webster, 2014). Emotional intelligence and empathy will be observed throughout this paper as a result of two separate studies, each were conducted with regard to leadership. Please note that the first article focuses

Importance of Lubricating Your Weapon - 1434 Words

The Importance of Lubricating a Weapon A soldier’s lifeline in a combat environment is his weapon. Without his weapon he is unable to complete a mission or protect his battle buddies and/or others in the way of harm. He is, in a way, unfit for battle if he does not have a properly functional weapon. With this in mind, it is a part of a soldier’s duty in the military to properly maintain his weapon, keeping it clean, well lubricated, and ready for battle at any given moment. He should always have his weapon as if he were to use it at any moment. If he were to enter a building and clear a room with a fireteam and his weapon was dirty or not lubricated, the risk of the weapon jamming in the middle of the drill is high, and his battle†¦show more content†¦For a soldier, cleaning and maintaining their issued weapon is always priority, because an unclean rifle can resort in jams, misfires, and other malfunctions, which can lead to harmful and tragic consequences such as the injury or death of either thems elves or their own brothers on the battle field. From basic training to the desert, soldiers are taught that their weapon is their only means of survival, and it will remain by your side even after your fellow soldiers are dead and gone. In basic, they teach you the components and how to disassemble and reassemble your rifle. Then, they show you the fundamentals to cleaning, but it isn’t until you graduate and arrive at your first unit that you really understand how to clean your weapon. 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Analysis of Paines Common Sense and Chalmers Plain...

Writing about Primary Sources: Paines Common Sense and Chalmers Plain Truth Introduction Thomas Paines work, Common Sense, was written in 1776. James Chalmers Plain Truth, written the same year, was a response to what Paine had written. Each was written during a politically divisive time, and the opposing views reflected in each of these documents clearly reflect the sentiments of that period in our nations history. The thirteen colonies were not of one mind on the subject of whether or not they wanted independence from England. There were strong opinions to support views on either side. As we can see by looking closely at each of these primary sources, emotions ran high on both sides. Thomas Paine Paines viewpoint is stated strongly and unequivocally. He believes that the only way the thirteen colonies can thrive is to obtain their independence from Great Britain. He states his reasons at the outset quite clearly, and from the wording, it is argued quite persuasively that in his view, there is really no acceptable option but to fight for independence. Paine does not believe that government is a desirable force in a country, but that it is a necessary one. One of his initial arguments is that because of mankinds basic impulses of conscience, government is required to keep law and order in the land: For were the impulses of conscience clear, uniform, and irresistibly obeyed, man would need no other lawgiver (Paine, 1776, p. 19). In Paines view, then, to liveShow MoreRelatedLogical Reasoning189930 Words   |  760 PagesDowden Philosophy Department California State University Sacramento Sacramento, CA 95819 USA ii iii Preface Copyright  © 2011-14 by Bradley H. Dowden This book Logical Reasoning by Bradley H. Dowden is licensed under a Creative Commons AttributionNonCommercial-NoDerivs 3.0 Unported License. That is, you are free to share, copy, distribute, store, and transmit all or any part of the work under the following conditions: (1) Attribution You must attribute the work in the manner specified

Monetary and Fiscal Policy to Grow Business †MyAssignmenthelp.com

Question: Discuss about the Monetary and Fiscal Policy to Grow Business. Answer: Introduction: Like any institution, a business enterprise also has an organizational structure and certain normative frameworks under which the enterprise operates. The factors of production can be broadly divided into four categories, namely land, labour, capital and organization. The managers are the factor, who organizes the production process of any enterprise. Generally, the manager of a company is in charge of the overall production operation of the company. The roles of the managers mostly consist of managing the different sides, taking significant decisions regarding the pricing and quantity of production of the product or service provided by the concerned enterprise, employment and wage structures, new ventures and others (Burstrm and L. Wilson 2014). A good manager by nature tends to be adaptive to any unanticipated or anticipated changes, is adept enough to take necessary strategies, and changes such that the interest of his or her company is not jeopardized. The report discusses the strategies in the resilience package designed by the manager of such a local multinational company, in response to different policy dynamics in the economy. Monetary and Fiscal Policy: The economy as a whole and the business enterprises in particular are subjected to sufficient dynamics in their mode of operations depending upon the policy structure prevailing in the economy and the changes that occur in these policy frameworks from time to time, depending upon the actions of the governing authority of the country. The policies maybe broadly divided into two types, mainly monetary and fiscal policies. The monetary policies are those policies, which deal with the nominal economic variables such as price, nominal wage, cost and others. On the other hand, the fiscal policies deal with the dynamics of the real variables such as level of output, real income, purchasing power and others. Changes in monetary and fiscal policies, both expansionary as well as contracting ones, have significant impact on the operations of the business enterprises as much of their business strategy implementations and future profitability and prospects depend upon how the enterprises adapt to these policy changes. The managers play a key role in designing and implementing strategies in response to these changes, which determines the fate of their company (Goetsch and Davis 2014). Policy changes and strategies in response: a) Expansionary monetary policy- This type of policy, if undertaken, increases the liquidity in the economy, by increasing the money supply and the overall level of demand as a whole. In response to that, the manager of the local multi-national company can expect an upward trend in the demand for the commodities or services, which they produce, as people tend to buy more with an increased money supply. To gain from the situation the manager can increase the production of his company as well as increase the price of the product to some extent, as that is expected to increase the revenue earned by the firm to considerable extent (Afonso and Sousa 2012). b) Contractionary monetary policy- In many instances, to curb high inflationary pressure and decease the money in hand of people, contractionary monetary policies are undertaken, which in turn reduces the money supply and the aggregate demand in the economy. In such a situation, due to a fall in aggregate demand levels, the manager can speculate a decrease in the decrease in the demand for their product. To combat this crisis, the manager can take price-reducing strategies, such that the demand is not affected by huge magnitude and the company succeeds to maintain its clientele (Kiyotaki and Moore 2012). c) Expansionary fiscal policy- During recessionary periods, strategies of these types are taken to increase the disposal income in the hands of households. This is mostly done by reducing tax burden and increasing the public expenditure and results in an increase in aggregate demand. In response of implementation of such a policy and a resulting increase in the aggregate demand, the manager of the concerned company can take production increasing strategies, which can include incorporation of better technologies, skilled labor and other production augmenting techniques (Afonso and Sousa 2012). d) Contractionary fiscal policy- Inflationary pressures can be often combated with contractionary fiscal policies, as they are more effective than those of the monetary policies are. Contractionary fiscal policies include increase in the taxes and decreasing public expenditures, thereby decreasing the households disposable income, lowering the aggregate demand. In response to this, apart from reducing the prices of the product, the manager can also design quantity-reducing strategies to save the company from suffering huge losses in terms of excess and unsold productions (Kiyotaki and Moore 2012). Conclusion: The report discusses about the strategies that can be taken by the managers of business enterprise in response to the changes in the policy framework. Apart from the above discussed strategies, the manager can also take strategies in terms of advertisement, workers welfare and incentives, proper interactions with the clientele and fast redressal or appropriate actions in response to their queries and complaints, which can prove to be beneficial for his company in the long run. References Afonso, A. and Sousa, R.M., 2012. The macroeconomic effects of fiscal policy.Applied Economics,44(34), pp.4439-4454. Burstrm, T. and L. Wilson, T., 2014. Requirement managers roles in industrial, platform development.International Journal of Managing Projects in Business,7(3), pp.493-517. Goetsch, D.L. and Davis, S.B., 2014.Quality management for organizational excellence. Upper Saddle River, NJ: pearson. Kiyotaki, N. and Moore, J., 2012.Liquidity, business cycles, and monetary policy(No. w17934). National Bureau of Economic Research.

Business Organizations Sensitivity and Scenario

Question: Discuss about the Business Organizations Sensitivity and Scenario. Answer: Introduction In current, most of the business organizations use sensitivity and scenario analysis to make their corporate decisions in an accurate manner. Along with this, they also involve capital budgeting techniques such as: Internal Rate of Return (IRR), Net Present Value (NPV), etc. in the sensitivity and scenario analysis of the organizations. The major reason behind it is to make accurate corporate decisions for the financial growth of the company. Moreover, this research essay would be useful to describe the concepts of sensitivity and scenario analysis with regard to capital budgeting techniques. Apart from this, this essay would also express the similarities as well as differences between the Capital Asset Pricing Model (CAPM) and Capital Market Line (CML). Sensitivity and Scenario analysis In the context of business finance, both sensitivity and scenario analysis are important components that are used to make important financial decisions. Business organizations use these analyses to decide whether or not to make investments. Along with this, businesses use one of these models to make investment decisions and also to make corporate budgets in order to use available funds in a systematic and an appropriate manner (Grimvall, Holmgren, Jacobsson Theden, 2009). Moreover, both sensitivity and scenario analysis and their relations to the techniques of capital budgeting is discussed below: Sensitivity Analysis: Sensitivity analysis is an important accounting tool that is used by business organizations to decide that how different values of an independent variable have an effect on a particular dependent variable in a specified set of assumptions. A sensitivity analysis is also used to comprehend the impact of different variables on the given outcomes of the organizations (Ehrhardt Brigham, 2008). Apart from this, the key purpose of sensitivity analysis is not only to evaluate risk but also to determine the receptiveness of net present values to variables that are applied to calculate it. Moreover, in corporate finance, sensitivity analysis is important to evaluate that how the input variables in capital budgeting decisions influence the net present value (NPV), internal rate of return (IRR) or some other outputs. This thing shows that there is a strong relation between sensitivity analysis and capital budgeting techniques such as: NPV, IRR, etc. (Whittington Delaney, 2007). Sensitivity Analysis and Its Relevance to NPV and IRR: Sensitivity analysis makes use of the capital budgeting techniques (NPV and IRR) to evaluate an investment project. In other words, it also can be said that the capital budgeting techniques are essential to conduct a sensitivity analysis effectively. For example, business corporations have need of forecasts cash flows, and expected revenue costs to evaluate an investment project properly. In this situation, business firms use capital budgeting techniques (NPV and IRR) to forecast various variables and to determine the cash flows of the project (Damodaran, 2010). Along with this, the consistency of NPV or IRR of the investment project only depends on the dependability of the variables that are essential to estimate net cash flows. Moreover, to decide the NPV or IRR of a project, business firms find out all the differences that may occur if any forecast goes erroneous. Business firms also use three values such as: expected, pessim istic and optimistic to make changes in forecasts. They also recalculate the NPV or IRR under these different accounts. The way of re-computing the NPV or IRR by using these three values is known as sensitivity analysis (Baker Powell, 2009). Along with this, sensitivity analysis plays a major role to evaluate the changes in the NPV or IRR of a project according the changes in the given one or more variables. A sensitivity analysis also signifies the sensitivity of a projects NPV/ IRR in view of changes in variables (Crundwell, 2008). The more sensitive NPV or IRR points out that the variable is also more critical. Moreover, business corporations use the following steps to determine the sensitivity of a project and these steps specify the relevancy between sensitivity analysis and the techniques of capital budgeting: Identify all the variables that may have an effect on the NPV or IRR of a project; Define the core relationship among the given variables; Examine the impact of variables changes on the NPV or IRR of a project (Massari, Gianfrate Zanetti, 2016). In view of that, it can be said that, the decision making of companies could be linked to the techniques of capital budgeting. Moreover, it also can be said that, these capital budgeting techniques have their importance in the sensitivity analysis as well. Scenario Analysis: In finance, scenario analysis is a key accounting method that is used to forecast future values of portfolio investments on the basis of prospective events. Moreover, the analysis also plays a major role to evaluate that how a situation can affect outcomes of portfolio investments. Scenario analysis is widely used in the situations of high risks and high uncertainty. It is also useful to determine the best and worst scenarios and also to disclose the outcomes that have been disregarded by the business organizations (Doss, Sumrall III, McElreath Jones, 2013). Scenario Analysis and Its Relevance to NPV and IRR: Same as the sensitivity analysis, scenario analysis has its impact on the capital budgeting techniques (NPV or IRR). It is because of business corporations make use of scenario analysis in order to establish the net present value or internal rate of return of a potential investment in the situation of high or low inflation scenarios (Lasher, 2016). In capital budgeting, the key idea of risk is totally related to the cash flows of the projects. They do not work the same as estimated. In this situation, the actual NPV or IRR may be different from projected. AT that time, the changes in NPV or IRR become a major subject of concern to the business associations. They estimate that how much an NPV or IRR may change due to the differences in cash flows. In this situation, scenario analysis plays a significant role to establish relationship between the changes of cash flows and their NPVs or IRRs. Along with this, scenario analysis does not only examine the sensitivity of NPV or IRR; but also evaluates the prospect distribution of the variables to provide higher returns to the business organizations (Grimvall, Holmgren, Jacobsson Theden, 2009). In this way, it can be assumed that, scenario analysis has a wide impact on the capital budgeting techniques. Capital Asset Pricing Model and Capital Market Line The CAPM model (Capital Asset Pricing Model) is one of the important models in the area of finance. The business organizations use the CAPM model to estimate the required rate of return (ROR) for any risky asset. Along with this, the CAPM model portrays the relationship between systematic risk and projected return for assets. Business associations widely used the CAPM model to determine price of risky securities (individual security or portfolio), generate projected returns for asset and also calculate costs of capital accurately (Lee Lee, 2010). Moreover, the CAPM model works on a standard formula that depicts the relationship between risk and expected return. The formula is given below: On the other hand, CML (Capital Market Line) is an important concept of the CAPM model. It plays a significant role to portray the level of added return beyond the risk-free rate for amends in the level of risk. The capital market line emerges in the CAPM model to represent the rates of return (ROR) for efficient portfolios that depends on the risk level and the risk-free ROR for a market portfolio. The capital market line is a type of graph that is given below: On the other hand, there are numerous similarities as well as differences between the capital asset pricing model and capital market line. These are discussed as below: Similarities: There are numerous similarities between capital asset pricing model and capital market line. For case, the major similarity is that both are the important concepts of corporate finance. Along with this, the other major similarity is that both models are used to compute the expected return of a portfolio or security (Elton, Gruber, Brown Goetzmann, 2009). Both CAPM and CML are equally useful for business associations in order to determine that they should consider an investment or not. The investment would be able or not to provide expected return for the investment amount. Both CAPM and CML are related to each other. It is because of CAPM and CML depicts the correlation between the expected return and systematic risk that are linked with a security or portfolio. In this way, it can be said that, both CAPM and CML models are used to determine the systematic risk and expected return of a security. Both CAPM and CML are useful to decide that an investment in a security or portfolio is logical or not (Jones, 2016). Hence, it can be assumed that, both CAPM and CML have numerous similarities with one another. Differences: There are a few differences between capital asset pricing model and capital market line. For example, the major difference is that CAPM model calculates the systematic risk and expected return for a security or a portfolio. In contrast, the capital market line graphically represents the systematic risk and expected return for a portfolio (Maghrebi, Mirakhor Iqbal, 2016). Apart from this, CAPM model does not use capital market line to calculate the risk and return of a portfolio. But, the capital market line makes use of CAPM formula to analyze the risk and return of a security/portfolio. It represents the formula of CAPM in a graphical manner. The capital market line sketches the relationship between the projected return and systematic risk that are linked with a security. On the other hand, the other major difference between capital asset pricing model and capital market line is that the CAPM model is a part of portfolio theory whereas the capital market line is a part of CAPM model. The capital market line is used in the capital asset pricing model to demonstrate the return that can be achieved by investors all the way through investing in a risk free asset (Hagstrom, 2013). Along with this, the CML illustrates the levels of risk as well as return in a very clear way. The level of return increases only when the level of assumed risk also increases. Furthermore, another major difference is that with the help of the CAPM model, investors only calculate profits on their investments. Despite the fact that, with the help of CML, investors make final decisions about their investments. For this reason, it can be assumed that, there are some differences between the CAPM and CML. Conclusion On the premise of above discussion, it can be said that, both sensitivity and scenario analysis play a significant role in the decision making process of the business corporations. Along with this, it is also examined that, sensitivity and scenario analysis have relationship with the capital budgeting techniques NPV and IRR. Both, sensitivity and scenario analysis includes NPV or IRR of projects to make important decisions related to investments. Moreover, it is also observed that, both analyses play a major role to determine and evaluate possible returns as well as events that can occur in the future. Apart from this, it is also viewed that, the capital asset pricing model and capital market line are also important concepts of the business finance. Both CAPM and CML are useful to calculate the expected risk and return of a security or portfolio. Moreover, it is also seen that, CAPM and CML are interconnected to one another. 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