How Social Media is Changing the NFL

This week I have chosen to write on a current and future trend in the entertainment business. We all know that the NFL makes up a good portion of the entertainment industry in the United States. This week’s topic covers How Social Media is Changing the NFL.  

Mashable.com’s, Jennifer Van Grove, takes a look at how social media is altering the NFL. She says that the sport has undergone a radical change in the past two years because of social media. All 32 teams including the NFL itself use social media as a platform.

The manager of Internet Services for the San Diego Chargers says he wakes up everyday to check the pulse of the fans, players and organizations on Twitter. Discussions on Twitter turn into discussions on ESPN or Fox Sports. The trends are coming from fans and players and are starting more conversation pieces.

“The NFL recently signed an agreement with brand marketing and management company Buddy Media to give all 32 teams access to better tools for making their Facebook campaigns more successful.” This is making it so that every time has buzz on every social media outlet.

The article explains that most players have a social media account for personal branding. Before most teams advised the players to not participate, but now they are encouraged as long as they do not share confidential information.

“…if a team-related story pops on Twitter, the organization feels compelled to address it within five to ten minutes, simply because of how fast information travels.” This is true, social media cause news and gossip to travel ten times fast then it used to.

Social media outlets also create more a fan base for teams and causing more camaraderie. Followers can know everything from what the player had for breakfast to who got slammed at practice. Social media is quite addictive and this case provides the fan with all around coverage.

Everyone has agreed that social media will only keep growing and playing a crucial role in everyone involved in the NFL’s lives.

Not only can we take this example of social media involvement with the NFL and see the current trend, but you can also use this on any big industry. We also see this in the entertainment industry or educational industry. Social media has only brushed the surface of its potential. In the future, social media will be the means of every news piece and every personal conversation.

http://mashable.com/2011/08/20/nfl-social-media/

Alternative Funding Sources

This week we are looking at other ways to fund a business. I have decided to take an in depth look at the EDA or the U.S. Economic Development Administration. EDA is an agency inside the U.S. Department of Commerce that associates with distrait neighborhoods all over the United States to promote job establishment, partnership and origination. EDA support is obtainable to country and city regions of the Nation suffering extreme joblessness, little revenue, or additional harsh financial suffering.

The U.S. Department of Commerce provides several different investment programs, such as:

Public Works and Economic Development:

-They support the upgrade and expansion of crucial communal facilities or infrastructures.

Economic Adjustment Assistance:

-Delivers a extensive series of public works, technical, and planning and infrastructure support in areas suffering unfavorable economic transformations.

Research and National Technical Assistance:

- Funds exploration of current economic expansion practices, as well as material distribution struggles to nationwide watchers.

Local Technical Assistance:

-Attentive support offered to communal and public heads to aid in economic progress decision making.

Planning Program:

- Assists local and regional organizations (District Organizations, Indian Tribes, and other eligible entities) with their short‐ and long‐term planning efforts.

University Center Economic Development:

- Makes the properties of universities accessible to the economic improvement community.

Trade Adjustment Assistance for Firms:

- Supports a national network of eleven Trade Adjustment Assistance Centers that assists U.S. small and medium‐sized businesses impacted by increased imports with the development and implementation of business recovery and global competitiveness strategies to retain and create jobs.

There are some requirements in order to obtain funding from the EDA. EDA assesses every submission file on the foundation of its conformance with the asset program procedures, backing precedence concerns, and entitlement requests recognized in the applicable Federal Funding Opportunity. The applications are available on www.grants.gov. You can either submit a hard copy or an online copy to the EDA.

There is other information that is offered on the EDA website. They provide their participants with economic initiatives and current economic activity. The EDA also share pictures and stories of recent successes. I personally like how they show you that even through this terrible time, that money can be found in this economy and that it can be used to build and create something great. They also have a resources tab on their page so that any questions you might have will be answered by glancing at this portion. The EDA also provide past reports of economic growth.

I think there are advantages and disadvantages to alternative financing. Some programs that people put money into, they never get back out. And then there are the other programs that create success and accomplishment. Alternative financing can also get tricky if you do not do all the research. Some of the programs are not as stable as others. But there are a good number of programs with a good work history.

http://www.eda.gov/