Professionalization of modern sport For Profit or Glory Essay

Professionalization of modern sport For Profit or Glory - Essay Example how it cooperates and competes; it also shows the connections between the practice of shareholder management and the achievement of different performance goals; it recommends attitudes and structures to the stakeholder management. For football industry, there is a need to capture stakeholder in order to re-examine its governance structure and practice, meet the increasing expectations and standards of accountability and maximize its economic performance. Otherwise, a conflict can arise between the football club and its stakeholders, where the fans are the main priority in the field of success of the certain football club (Hoye & Cuckelly, 2007). Besides, sport organizations are also the subject of scrutiny from such stakeholders as members, sponsors, consumers, and the government funding agencies that expect the football club will deliver the highest quality outcomes. The football supporters argue to make the sport’s governance a serious political issue (Rae, 2014). That is an evidence of a random survey conducted among the four thousand adults, the eighteen per cent of which consider their clubs are in the well financial state, while thirty-eight per cent call for the regulation connecting supporters to be involved in the ownership of the club directly. If to speak about the English football and in case of any conflict arises, the Company Law, protecting the clubs’ investors, can replace certain fans (Michie & Shay, 1999). With the introduction of the Companies Act 2006, its Section 172 states that â€Å"a director of the company should act in the way of good faith† and â€Å"most likely to promote the success of the company for the benefit of its members as a whole† (Companies Act, 2006). In that case, the director of the club should understand all the consequences of any decision in the long term perspective should care for the company’s business relationships with stakeholders and make an impact on the company’s operations in the community and the