Function and the significance of management in modern sport

Sport represents an institutionalized game, order and social organization that includes values, norms, sanctions, social roles and status. Sport is characterised by one’s continuous desire to exceed its mental and physical possibilities, and as such has an important role in the development of modern society. Management as process and modern scientific discipline, implemented in sport, systematically organizes economic resources in order to achieve optimal sport performance. The purpose of the paper is to point out to the significance of management role in modern sport that coordinates sport activities in order to achieve basic purpose of business – making profit. Sport management is the process of studying how sport organization achieves its goals using human, material, informational and financial resources in order to maximize business performances. Every sport organization in order to become competitive in the market has to respect the rules of economic behavior and to implement the basic principles of sport management in their business.