The Changing Stakeholder Map of Formula One Grand Prix in Shanghai

Abstract

In recent years, Formula One Auto Racing Grand Prix (F1) in Shanghai has been dramatically impacted by the global recession and changes to the local and national political-economic landscape. Due to the short lifespan of the event (from 2004 through 2010), and the drastic changes that have occurred, F1 Shanghai provides a unique case to examine the manner through which the importance of stakeholders in a sport event environment change. Using Mitchell, Agle and Wood's (1997) model, the current study develops two different stakeholder maps of the F1 Shanghai event. In doing so, salience changes precipitated by the turmoil occurring within the industry are assessed. By developing different stakeholder maps in different time periods, event organizers and managers may better understand the dynamics of stakeholder interests and relationships, which will be useful as event managers develop corresponding strategies to cope with stakeholder changes in future events.

Keywords:

• Events
• auto racing
• stakeholder theory
• China

Acknowledgements

The authors would like to acknowledge the University of Alberta's Killam Research Fund for funding support for this research.