The Chicago Black hawks Greatest Sports Business Turnaround Ever Case Study Solution
Strategic Analysis
Ticket prices was the major problemfaced by the team, thecompany was having a $6 million immediate shortfall and did not have funds to pay for management salaries and to pay the players.
From 2001 to 2007 company had the sixth highest ticket pricing.Currently ticket prices and their value have decreased from 47.57 to 34.88 and from $218 million to $179 million respectively.
Rocky needs to focus on the selling of season tickets as it is the money maker for the company.
Rocky would pursue the solution by attaching the personal seating license that will give the season ticket holder opportunity to keep the same seat until and unless they have tickets.
It is valuable for the team as it would get the payment earlyfrom the personal seating licenseand ensure that those seats are booked for the whole season.
Talented people want to be in jobs that make the best use of their skills, abilities and give them the sense of accomplishment. Organization should give them meaningful work and opportunities to take on new challenges. The BlackHawks gives personnel the opportunity to make a difference. The front office has been relieved of everyone, now talented employees need to come in with clear vision and goals and their implementation in operational changes that are needed to effectively turn the business around. It would be a great time for the talented workers to join a team that actually encourages the workers to be creative and give different solutions in order to make the company successful.
To be able to succeed in turnaround the situation, leader needs to be confident. Leaders shouldhavequalities such as committed, positivity, communicative and inspirational. A leader needs to be committed to turnaround the situation, if he wants hisemployees to work hard and get the job done. Positivity is another important factor because positive leader will result in positive worker and it keeps the team’s motivation high. Amotivated leader gets his team to see the goals and vision, they are developing. When employees see the same vision as the leader then they will feel participated in turnaround the situation. A leader needs to communicate all the problems to his team and all the employees working in an organization. To turnaround the situation, employeesmust be aware of all the problems.
Implementation plan and strategies
Marketing strategy plays an important role in attracting fans to the team. In such a technological era, social media is the best way to attract the fans towards the team. Another strategy to appeal more fans is to promote some groups such as little hockey teams, schools and churches. Promoting these specific groups will increase the attendance for a particular game.
THE CHICAGO BLACK HAWKS GREATEST SPORTS BUSINESS TURNAROUND EVER Harvard Case Solution & Analysis
Rocky can use its opportunity of family liquor business immediate shortfall of $6 million. Company can use the strength of MC Donough for recruiting the talented people. (See Exhibit 1). Fans are the king in this industry, so providing extra services such as personal seating lines will be attracting fans during the season. (See Exhibit 2)
There is a negative relationship between the ticket prices and rank, to increase its rank, company can reduce the price to increase its rank. (See Exhibit 3).Moreover there is a positive relationship between revenue and team value, so increase to value of tea, rocky can implement personal seating license strategy to increase the attendance during the season. (See Exhibit 4) .........................
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