Blogging Matters!!! : A Prologue To Sports Industry

Day 37.

The topic for tonight's blog can be perceived by the images above. Yes, I'm talking about the Industry of Sports or Sports Industry. I won't stop just with the images, but rather strive to briefly acquaint you readers, to my subject for our better comprehension. So, let's start the ball rolling -

Sport -

• According to the Oxford Dictionary, 'Sport is any physical activity involving physical exertion and skill in which an individual or team competes against another or others for entertainment.'
• Sports are predominantly played for amusement or that people want to stay in good physical form. Professional sports are a major source of entertainment.
• Today, sport is seen as a product. This product is abstract in nature. It is even unobjective. However, it has turned into an economic business.

Industry -

• Economic activity concerned with the processing of raw materials and manufacture of goods in factories. (Oxford Dictionary)
• In simple words, industry constitutes of a group of firms with land, labour, capital, technology and enterprise, colligating to make profit by indulging in business backed by society and government.
• Industry can be divided into 4 sectors :
• (1.) Primary Sector - (this is linked to raw material extraction),
• (2.) Secondary Sector - (this is related to manufacturing),
• (3.) Tertiary Sector - (consists of service production),
• (4.) Quaternary Sector - (this is associated with Research & Development).

Sports Industry -

• Today, sports activities are associated with not only the sporting aspects, but also with business, mass media and politics.
• So, the Industry of Sports is the amalgamation of the above mentioned aspects with the production of sport equipments, services and technology.
• Usually, every sport aims at concurrence of both the players and the viewers. However, amplifying the economic revenues and social implications are the chief aims of the Sport Industry.
• The Sports Industry has a certain history behind it. It has evolved from time to time. For example; Government financing was the sole ingredient in running this industry, but today financing has become much more complex due to the partnerships between public and private sectors.

Sports play a pivotal role in shaping our society. They have evolved from being amateur to professional and have tied with them, different elements of our society like; media, political affairs, and most importantly 'business'. This is what makes the industry of sports a radical stimulus in social formation and economy.

Thanks for Reading.

Thought Of The Day : - '' Knowledge is our friend in the desert, our company in solitude and companion when friendless''.
(ref; google images)