How Sports and Business are Related?

How Sports and Business are Related?

How Sports and Business are Related?

There are a lot of great management principles and practices that have gained prominence in the last twenty years, due to the fact that when correctly applied, they have produced phenomenal results for the companies that have implemented them. The practice of benchmarking to find out how different companies in different industries improved and then applying their best practices. Sig Sigma, a management methodology developed in Motorola has had phenomenal success in many industries, as has the Lean method, which was first practiced by Toyota.

The latest fad in management methodology now seems to be to liken the running of a company to sports. A lot of consultants now say that positive practices with respect to winning at sports can be successfully applied to the corporate world. Such positives as having a winning mindset and a positive attitude are said to be ideals that are carried over from sports. There is a chicken and egg question though: Which came first: sports, or those attitudes? Common sense seems to dictate that the attitudes came first. After all, these are attitudes essential for survival, and are with us at our most primal level.

There are also a lot of differences between a professional athlete and a white collar worker. For starters career length. A pro athlete has a much shorter career, and tends to have the most money making capabilities during the earlier part of that career. While an office worker tends to have to move up through the ranks, and to peak in earnings at a much older age. Their priorities and views are hence very different.

Even more glaring is the fact that in sports, there is only ever one winner. In business, it doesn't always have to be as competitive. In fact, the lines between competitors and teammates are not clearly drawn in business. In a negotiation for instance, the best result is a "win win" situation. There is no such thing as a "win win" situation on a sporting field, unless you count player trades. Business can have multiple winners, and adversaries forming mutually beneficial alliances to ensure that everybody wins.

Because there is only one winner in sports, it begs the question: does that mean that all the losers got it wrong? In a Formula 1 race, there are so many factors that need to come together for a team to achieve victory. A great car, a great driver, a great crew; each of these elements is further influenced by so many other variables. External factors play a part as well, weather, debris on the track, collisions with other cars, all of these can affect the outcome. So did the winning team necessarily have the best practices all around? It is a difficult question to answer in sports.

Finally, throughout history, how many great sportsmen have gone on to be great businessmen? History lists only a handful, one would be race driver Niki Lauda, who owned and managed two airlines. Max Schmeling who once knocked out Joe Louis was also somewhat successful in business, but then not many others are on the list. If the link is as strong as they say, there should have been many others.

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