MANAGEMENT OF BUSINESS ACTIVITIES IN THE SPORTS INDUSTRY UNDER THE INFLUENCE OF GEO-ECONOMIC CHALLENGES

Abstract

The article is devoted to the study of business management in the sports industry under the influence of geo-economic challenges. Economics in the field of the sports industry is a strategic tool for ensuring the sustainable development of modern society. The potential of the sports industry as a branch of the economy is greater dynamism of development, the ability to withstand economic fluctuations and the ability to overcome the consequences of economic crises. The business environment of the sports industry, in which business activities in the sports industry are managed, is characterized by unpredictable consumer behavior and illogical decisions. Against this background, the study of consumer motivation is the majority for understanding the economic mechanisms of business management in the sports industry. In the field of the sports industry, the supply forms the demand, accordingly, unique approaches to the management of business activities in the industry under the influence of geopolitical challenges are required. A scarce resource is human resources – physical capabilities, fitness, bodybuilding, etc. Along with powerful opportunities, this branch of the sports industry has significant critical risk factors under the influence of geo-economic challenges. It has been established that the management of business activities in the sports industry, as an environment for regulating state economic activity, is characterized by a dual nature. On the one hand, it is a sector of economic interests and entrepreneurship, but on the other, it is the sphere of social production of intangible goods, goods and services related to the sports industry. It has been established that the sports industry sector presents significant risk factors under the influence of geo-economic challenges that are characteristic of this type of economic activity. The article defines the mechanisms of minimizing the specified risks, which are created under the influence of geo-economic challenges in the management of business activities in the field of the sports industry.