Capital Budget in Recreation

Paper Summary:

This paper discusses capital budgeting within the recreation industry. It discusses the areas that businesses need to focus on in order to be competitive, such as corporate culture, product mix, prices, promotion strategy and the place where the company competes. The paper presents City Point Club as an example to describe strategic investment decisions and capital budgeting.

From the Paper:

"In order to compete in the tightening market for almost every industry, each big and (even at a greater degree) small company must constantly improve the business mix of the company, corporate culture, product mix, prices, promotion strategy, place where it competes and the other essential attributes. In order to fulfill these tasks, the management must constantly have sufficient resources to be able to single out promising innovative investment ideas, implement them and then receive the rewards of the profits . The management must always be at least two steps ahead of the competition and of the tastes and perceptions of the customers in order to be able to satisfy the changed demand of the sophisticated clientele when the tastes shift."

Sample of Sources Used:

• http://www.thecitypointclub.co.uk/
• Brayley, R. E., McLean, D. (1999). Managing Financial Resources in Sport and Leisure Service Organizations, Sports Publishing.
• Mitchell, D. Coles, C. (2004) Establishing a continuing business model innovation process, Journal of Business Strategy, 25 (3), pp. 39-49.

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