Sport Franchise: Texas Rangers
Texas Rangers enjoy a large market share as compared to its competitors in the industry. This is evident considering MLB Team Valuations by Forbes. Specifically, Forbes ranks it seventh among most valuable baseball teams. Its team value was estimated at 825 million dollars in March 2014. The brand is worth 104 million dollars while its stadium is worth 203 million dollars. Essentially, the franchise has been able to attract many fans both locally and globally. As a result, it is able to sell many tickets during its games (Forbes para 1).
This has also enabled it to report high profits. In line with Basen (2014), good performances have enabled to attract more and more funs as time goes by. There are times when the franchise fails to achieve its goals and objectives. For instance, there are seasons when it fails to meet the expectations of its funs in terms of performances. However, as argued by Stewart (2012), it is able to change the results with time. Essentially, the management is able to figure out the mistakes it has been making that that affects its performance.
With this being the case, it is able to turn tables to its advantage (Wilson para 3). This is one of the major reasons that have enabled it to enjoy a large market share. The management of the club is committed to ensuring it maintains its market position. Currently, the franchise is yet to win any championship. However, Basen (2014) argues that the management is always optimistic that the franchise has what it takes to report performances in the near future.
According to Faris (2011), the success of the franchise can also be attributed to its ability to control its costs as well as effectiveness (46). Fundamentally, the management is able to develop strong strategies that ensure it does overspend. As a result, the franchise is able to control its expenses to maintain high profitability. This is also evident considering the revenue it is able to raise every year. Texas Rangers has been able to ensure cost efficiency through debt avoidance (Faris 154). Basically, the franchise only resorts to borrowing a loan when other avenues have failed. In particular, it attempts to deal with expenses through the use of its revenue. Players’ expenses are also low.
In the end, it is able to save more from the revenue it collects from its games. Silverman (2013), the management at the franchise tries its level best to avoid unnecessary expenses can prove to be costly in the end (81). This is also done to reduce its reliance on debts or external funding. Texas Rangers also ensures that it fully utilizes its resources as opposed to underutilization. Essentially, in line with Stewart ( 2012), under utilization of resources can lead to unnecessary costs that can affect its revenue or profitability (59). In the end, it may be forced to rely more on external funding. The baseball team has been able to do a good job is terms of cost efficiency. However, there is the need for it to improve even further to realize mo revenue (Coppedge 113).
Texas Rangers has a number of priorities. For one, the franchise is committed to high performances. Specifically, the franchise has a vision beating its competitors. Basen (2014) argues that this is one the priorities that will enable it to become a champion (79). In the same regard, the priority will enable it to maintain a strong position in the industry. Another priority to the franchise is ensuring the happiness of its athletes.
Happy players do everything in their power to ensure good performances (Silverman 76). On the contrary, unhappy employees may not perform in the desired manner. As such, the team’s ability to compete is affected in a negative manner. In the end, the franchise may also find it hard to maintain its market share or attract many fans. The franchise has also made it priority to give its fans what they want. For instance, it is committed to giving them the best game or performances. Fans or spectators enjoy watching the best team play (Stewart 70). Poor performers find it problematic to attract many fans. In the same regard, the team is committed to its growth.
The management at Texas Rangers tries its level best to ensure to moves from one level to another. This is also one of the major factors that have enabled it to achieve good results. It has been growing for better. For instance, it has been improving its facilities to attract more fans. Stewart (2010) argues that this has also enabled the team to improve its performances (126). Basically, players are given resources they may need to achieve the best results (Faris 153).
It is evident that Texas Rangers is committed to good performances. According to Stewart (2012), it is essential for the management to maintain the strategies it has employed to better the position of the club in the industry (35). However, it must also device other strategies that enable it perform even better in the future. For instance, it must invest more in training to ensure improvement in the skills and knowledge of its players (Coppedge 129). This will go a long way in improving its players’ ability to compete in the industry. In the same regard, it must also improve its efficiency and effectiveness to improve its profitability and revenue. This will aid it to increase its market share.
Basen, Ryan. Texas Rangers. New York, NY: ABDO, 2014. Print.
Coppedge, Clay. Texas baseball : a Lone Star diamond history from town teams to the big leagues. Charleston, SC : History Press, 2012. Print.
Faris, David. Baseball homestand : the national pastime. [S.l.]: Authorhouse, 2011. Print.
Forbes. Texas Rangers. 2014. 18 February 2015 <http://www.forbes.com/teams/texas-rangers/>.
Silverman, Matthew. Baseball miscellany : everything you always wanted to know about baseball. New York, NY : Skyhorse Pub, 2013. Print.
Stewart, Mark. The Texas Rangers. Chicago, IL: Norwood House Press, 2012. Print.
Wilson, Jeff. Long list of off-season priorities awaits Rangers GM Jon Daniels. 2014. 18 February 2015 <http://www.star-telegram.com/sports/mlb/texas-rangers/article3875393.html>.