Industry Analysis Fact sheet

1.      Introduction and aim of the report:

            The current industry analysis report aims to analyse the sports industry of STAT Sports market based on the involvement of the fact sheets and organisational flowchart. The industry analysis report will discuss different types and sizes in the scopes of the organisation within sports, along with the interrelationship between various functions in selected organisations departments. The industry analysis will help forecast the values and highlight the strategies that can help achieve the organisations mission and objectives.

1.1. Subsectors of organisations:

            Some of the subsectors of the organisations concerning stats sports include nonprofit and forprofit businesses, small and mediumsized businesses, sole traders, partnerships, and private limited companies. It also includes the public, private, and commercial types of organisations. NGO is a form of organisation that is nongovernmental that utilises different kinds of funds to grow and expand its operations. At the same time, the small and mediumsized enterprises serve as a driving force to help the country recover its economy. The business also holds different legal structures that include sole proprietorship, partnerships, and private limited companies. The sole proprietorship helps the business owner generate revenue and enjoy the opportunity to obtain capital. At the same time, the partnerships and the limited private corporations involve multiple owners, but this is not that might advantageous financially (Shidong et al., 2021).

            The three major subsectors in which most industries operate include public, private, and voluntary types of organisations. Public organisations include the local leisure and sports sector, while private ones include retailers, manufacturers, and gems. The voluntary type of organisation holds both the local clubs and teams. Some major organisations that are providing their services within the private sector include Puma, Adidas, fitness first, and Manchester United. According to Allied Market Research (2020), different segments of the sports industry include the region, distribution channel, and enduser. Organisations use distribution channels, including supermarkets, hypermarkets, discount stores, and brand outlets (Patel et al., 2020). STAT Sports is one of the organisations within the sports industry that has engaged customers in manufacturing, developing, designing, and selling hardware and GPS software. The business has been expanding worldwide and has employed more than 140 people. The current industrial analysis will help support data and measure the business performance based on the actual data and forecasted values to execute market research objects (STATSports, 2022).

1.2. Market size and growth rate:

            The market size of the sports apparel industry will reach $248 billion. It is forecasted that the market size and the growth rate of the sports apparel industry will grow at a CAGR of 4.6%. The businesss production and consumption rate have been increasing with the involvement of a wide range of growth opportunities to develop revenue and improve the overall profitability (Kovalchik and Reid, 2019). The following graph presents the increase in the market size and growth of sports apparel by endusers from 2018 to 2026:

2.      Factsheets of the subsector:

            The fact sheet will help highlight the mission and vision, the performance of the business, its revenue and the targeted consumers. A website, i.e., Xtensio, will be used to construct the fact sheet of the chosen organisation, which is Omegawave and STAT Sports. The following pictures are attached by using the recommended website to create factsheets:

2.1. Legal structure and functions of organisations:

            The above organisations have different legal structures and functions in facilitating the sports industry by introducing different technological products and sports variables. Omega wave has been following a private limited legal structure to provide the consumers with services and sports products. These organisations consider onfield wearable technologies and using different smartphones to achieve the organisational objectives and improve the relationship with the stakeholders. In correspondence to this, STAT Sports has also been providing the customers with a wide range of technological products to assist the athletes and sportspeople (Aroganam et al., 2019).

2.2.Relationship with stakeholders:

            The maintenance of the relationship between the stakeholders of the sports industry is highly essential as it improves the chances of business profitability and controls the organisational conflict by maintaining our competitive advantage within the external market. Approximately all the major players of sports organisations are focusing on maintaining positive relationships with the stakeholders to improve the efficiency of their services and to deal with the external environmental challenges. STAT Sports has also considered this feature to improve the chances of revenue generation and overall profitability.

3.      Analysis of the interrelationships of organisations and visual mapping:

            The structure of the organisation is based on different divisions and responsibilities that lie to be performed by the employees. The businesses aim to maintain a positive relationship between these departments and improve the overall business structure competency. The organisational structure has much to do with the businesss success and involves all the aspects of a centralised organisation. The selected organisations also have a diversified range of divisions and jobs within their platform to improve the operational efficiency of the business and maintain a positive interrelationship between different departments like human resources, finance, and marketing. The employees of these organisations are directly associated with each other and help exchange ideas and accomplish the business goals and objectives. The centralised organisational structures contribute to adapting to the external market and increasing their chances of opportunity to develop their revenue and deal with the competitors by maintaining a competitive advantage (TorresPruñonosa et al., 2020).

            The interrelationship between different sectors of the organisations has a wide range of benefits as it improves the organisations competitive advantage and overall operational efficiency. Other than this, it also helps in improving profitability and in achieving the organisational mission and objectives (Patel et al., 2020). The following is the form of visual mapping that helps in indicating the interrelationship between different organisational sectors along with their advantages and disadvantages:

            The above entire relationship pyramid has dictated that marketing, finance, and production are directly associated with each other and improvement in one sector results in increasing the competency of the other. Human resource management plays a major role in improving business profitability and recruiting competent employees. However, the interrelationship between different departments has some advantages and disadvantages that are dictated below:

(Shidong et al., 2021).

4.      Conclusion:

            To conclude, the above report presented different fact sheets and the interrelationship between different departments. The organisational structure and the interrelationship of the business play a major role in increasing the chances of business success and accomplishing the business goals and objectives. Different organisations follow different types of legal structures to ensure business profitability. The involvement of different approaches within the business also helps introduce the risks, provide different opportunities for success, and expand in the international market.

References:

Allied Market Research (2020) Sports Apparel Market by End User. Available at: https://www.alliedmarketresearch.com/sportsapparelmarket [Accessed: 7^th July 2022].

Aroganam, G., Manivannan, N. and Harrison, D., 2019. Review on wearable technology sensors used in consumer sport applications. Sensors, 19(9), p.1983.

Kovalchik, S. and Reid, M., 2019. The game insight group: A model for academicindustry partnerships for sports statistics innovation. Quality Engineering, 31(1), pp.2338.

Patel, D., Shah, D. and Shah, M., 2020. The intertwine of brain and body: a quantitative analysis on how big data influences the system of sports. Annals of Data Science, 7(1), pp.116.

Shidong, L., Kuo, T.H., ul Islam, M., Talha, M., Lone, S.A. and Wei, S.Y., 2021. The impact of sports activities on economic survival, social life of women, and what do big data analysis reveals about social life of sports women. Revista De Psicología Del Deporte (Journal of Sport Psychology), 30(3), pp.229241.

STATSports (2022) Available at: https://statsports.com

Xtensio (2021) How to Create a Fact Sheet. Available at: https://xtensio.com/howtocreateafactsheet [Accessed: 7^th July 2022].

TorresPruñonosa, J., PlazaNavas, M.A., DíezMartín, F. and PradoRoman, C., 2020. The sources of knowledge of the economic and social value in sport industry research: a cocitation analysis. Frontiers in psychology, 11, p.629951.