Kaitlyn Greening

Kaitlyn Greening

ADPR 5910

Hagstrom, Robert G.. The NASCAR way: the business that drives the sport. New York: Wiley,

1998. Print.

“The NASCAR Way”

Robert G. Hagstrom’s, “The NASCAR Way,” takes an in-depth look into the business

that drives the sport. From its original roots on a cow pasture in Stockbridge, Georgia, to

becoming the ultimate family-owned business, NASCAR has transformed into the main course

for corporate America’s appetite. Hagstrom discusses the sound just as bit as powerful as

the 700-horsepower v8 engine racing around the track. It is the sound of pure capitalism- the

hardworking reverberation of a business. “The NASCAR Way” provides a refreshing insight

into the business and investment opportunities behind stock car racing.

“The NASCAR Way” emphasizes corporate sponsorship as the backbone of the sport. As

the fastest growing sport in the country, Hagstrom explains why dozen of fortune 500 companies

have boarded the NASCAR bandwagon. Companies such as Tide, Gatorade, Coco-Cola, and

The Cartoon Network all use NASCAR as an efficient marketing resource. Corporations are

able to take the ultimate role in advertising by sponsoring a team. Cars are used as a blank

canvas to solicit the corporation. Moreover, Hagstrom stresses how PepsiCo, RJR Nabisco,

Unocal Oil, and Anheuser-Busch have begun renting out corporate suites during the races. Not

only to provide hospitality to NASCAR fans, but to sell to a targeted audience.

NASCAR is a proclaimed family business, beginning with its father, “Big” Bill France. Since

1948, NASCAR has been passed down to each successor of the France name. Big Bill serves

as the ultimate legacy for NASCAR, as his precedents he set are the basis for the phenomenal

business success NASCAR has experienced. Hagstrom emphasizes the stable leadership of the

sport. It is the leadership that allows NASCAR to possess such powerful proficiency.

After analyzing “The NASCAR Way,” the audience can assume it makes excellent

observations into the world of business management. Its focus on corporate sponsorship

supports the notion that corporations emphasize their name more than their actual product.

Corporate sponsorship is received with gratitude, as it works in favor of both the business and

the corporations. It is this sponsorship that is the most efficient tool for corporate advertising.

Moreover, Bill France exemplifies the key qualities of a proficient leader. It is vision, passion,

integrity, trust and a desire to keep pushing for more that contributes to NASCAR’s progress.

The France family does a good job at integrating both the “leader” and the “manager” into one

role. It is from the family-oriented values instilled in NASCAR. Moreover, “The NASCAR

Way” greatly incorporates Elton Mayo’s idea of the Hawthorne Studies into its management.

The France family gives extensive attention to all aspects of its family- crew members, office

holders, the fans, etc. NASCAR also shows effective use in collaborative management.

Although the sport is privately owner, the France family uses team-work and input from all

levels in the vertically-structured organization.

A component that is not regularly mentioned from a managerial perspective that NASCAR

has tapped into is emotion. NASCAR uses emotion as a business tool, while still respecting

it. Like all businesses should, NASCAR puts its customer relations as a top priority. The team

recognizes that the only way to continue growing is a loyalty to its fans.

“The NASCAR Way” is highly recommended to be read by other students. Hagstrom

surprises the reader with points that are not stressed as much as they should be when it comes

to managing a business. Not only does it provide great insight into a business, but it keeps the

reader engaged with interesting history and high moral values. The reader will be presently

surprised about NASCAR’s lack of corruption in-part to its private ownership. It is easy to agree

with its emphasis on teamwork and its strategic planning that drives the business. NASCAR

shies away from Taylorism, and although many businesses apply vertical organization,

NASCAR uses its horizontal organization positively.