Center for Sports & Business Partner Day
Under the theme "Insights from the Global Stage - International Perspectives Linked to Innovation and Sustainability", the Center for Sports & Business organised the third edition of its at the Stockholm School of Economics for its sports partners. Througout the day, research was combined with practical workshops and networking.
The event featured Paolo Aversa, Professor King´s College in London and the Jonas Persson Visiting Professor at SSE, Juliane Reinecke, Professor Oxford University and the SHL Visiting Professor at SSE, as well as Jonas Persson, CEO Commercial Sports Media and Member of the Center for Sports & Business Advisory Board.
Cake-cutting ceremony: Celebrating Juliane Reinecke as the first SHL Visiting Professor at SSE.
Introduction and Latest Updates from the Center for Sports & Business
Professor Martin Carlsson-Wall, Director for the Center for Sports & Business kicked off the Partner Day with an overview of the Center for Sports & Business, as well as the 3P-Framework (Profit, Passion & Politics) that is used as an analytical tool in the course 3313 Investments and Value Creation in Global Sports.
Further, he also summarized some important updates from the Center for Sports & Business, including:
- The research collaboration with Norges Bank Investment Management (NBIM) where Martin Carlsson-Wall together with Harvard Professor Amy Edmondson investigate the importance of psychological safety and resilience among employees in the fund.
Notably, Nicolai Tangen, CEO of NBIM, hired the sports psychologist Anders Meland with the experience of top athletes and Norwegian figher pilots to make sure the number crackers in the oil fund are doing their best.
- Paolo Aversa (King's College London), appointed as the very first Jonas Persson Visiting Professor at the Center for Sports & Business
- Juliane Reinecke (Said Business School, Oxford University), appointed as the very first SHL Visiting Professor at the Center for Sports & Business
- Patrick Hallila (postdoctoral researcher at Imperial College Business School) who will do research in Swedish hockey on bonus contracts and their effects
- Norman O'Reilly (Dean Graduate School of Business, University of Maine and affiliated to the Center for Sports & Business) who visited SSE during the week with his new book "Business the NHL Way - Lessons from the Fastest Game on Ice"
- The ongoing PhD project of Fanny Almersson (PhD student, Department of Accounting, SSE) on the integration of men's and women's football teams
- The Collective Visbility Project initiated by Vanessa Åsell Tsuruga and that is collaborating with the Center for Sports & Business
- The Center for Sports & Business newly launched European Sports Business Program in collaboration with ESSEC Business School in Paris and WHU - Otto Beisheim School of Management in Düsseldorf
From left to right: Martin Carlsson-Wall, Paolo Aversa, Juliane Reinecke, Patrick Hallila, and Norman O'Reilly.
Data-Driven Decision-Making: Learnings from Motorsport
Next, Paolo Aversa, Professor at King's College, held the first keynote speech learnings from Formula 1 on data-driven decision making.
Paolo explained Formula 1 both within the racetrack (cutting edge of motorsport competition, two championships - constructor and drivers - as well as new FIA regulations every year to push team's technological R&D) and beyond the racetrack (entertainment industry with 1.5 billion viewers per season, firms spending on average 25% of turnover in R&D and leading in sale export and knowledge transfer). As regards the knowledge transfer, Formula 1 pit-stop models are used for patient handover from surgery to intensive care. Moreover, F1 technology is also deployed in industries, bobsleighs, and aviation.
Further, during his keynote, Paolo highlighted three lessons from Formula 1. Firstly, strategy needs the right culture (and innovation cannot save you from the wrong culture). Secondly, sometimes less is more (and it does not mean you are not capable of doing more). And thirdly, digital as a mere technology is pointless (it requires a strategy and identity readjustment).
When Times Collide – The Importance of Temporal Brokerage for Creating a More Sustainable Sports World
Juliane Reinecke's keynote speech was about the importance of temporal brokerage for creating a more sustainable sports world.
Juliane presented the climate emergency as an intertemporal dilemma. The future should not be viewed as an inexhaustible resource, but as a commons requiring responsible stewardship. The tragedy of the future commons can be overcome through a new paradigm of future making.
The tragedy of the future was vividly demonstrated by the following quote from Stuart Kirk, HSBC Global Asset Management's Head of Responsible Investment: "Who cares if Miami is six meters under water in 100 years? (...) For most companies with stranded assets their valuation does not take anything into account that happens after about year 20. At a bank like ours, what do people think the average loan length is? It's six years. What happens to the plant in year seven is irrelevant to our loan book."
Further, Juliane talked about how sustainability reporting could be a new paradigm for corporate future-orientation, going from infinite growth to finite resources, from looking backwards to forward-looking, and from forward projections to working backwards.
Imagining a Sustainable Future for the Winter Olympics
From a sports context, Juliane turned to the Winter Olympics. In fact, the Winter Games are increasingly held in areas with scarce snowfall, which challenges the future viability of the Winter Games and the winter sports they celebrate. The IOC's Future Host Commission predicts that by 2040, the pool of climate-reliable hosts will be reduced to around 10 National Olympic Committees.
The Olymic Winter Games are also an emergent research agenda. For instance, what does sustainability mean in relation to the Winter Olympics (and winter sports / winter resorts / winter sports economies more broadly)? And how do we assess positive impact?
A Media Market in Crisis? International Perspectives and Best Practices Regarding Innovation and Renewal
The last keynote speech featured Jonas Persson, CEO of Commercial Sports Media, focusing on the media market, international perspectices and best practices regarding innovation and renewal. Jonas gave an introduction to Commercial Sports Media, the sport media market development, including sports media rights value and the sale of sports media rights in the big European football leagues, economic and strategic challenges for incumbent actors and increased fragmentation.
With regards to best practices and innovations, Jonas pointed to the enhanced fan experience (DAZN & Fanatics), automated production (Sportway & Wise Hockey), Virtual Broadcasting, and Gamification of Sports (NHL & King's League).
Workshop: How Can Swedish Associations, Clubs, Federations, and Leagues Navigate a Changing Media Landscape?
The partner day concluded with a workshop session that concerned the issue of how Swedish associations, clubs, federations, and leagues can navigate a changing media landscape.
09:30–10:00 Registration and Coffee
10:00–10:15 Introduction and Latest Updates from the Center for Sports and Business, Martin Carlsson-Wall, Professor and Director of the Center for Sports and Business
10:15–11:00 Data-driven Decision-making: Learnings from Motorsport, Paolo Aversa, Professor at King’s College in London and the Jonas Persson Visiting Professor at SSE
11:00–11:15 Networking and Mingling
11:15–12:00 When Times Collide – The Importance of Temporal Brokerage for Creating a More Sustainable Sports World, Juliane Reinecke, Professor at Oxford University and the SHL Visiting Professor at SSE
13:00–13:45 A Media Market in Crisis? International Perspectives and Best Practices Regarding Innovation and Renewal, Jonas Persson, CEO of Commercial Sports Media, Member of CSB Advisory Board
13:45–14:00 Networking and Mingling
14:00–15:00 Workshop: How Can Swedish Associations, Clubs, Federations, and Leagues Navigate a Changing Media Landscape?
15:00–15:30 Coffee Break
15:30–16:00 Summary of the Day and Reflections on Future Work