The NASCAR Way

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 explains 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 to follow the theory Y axis. The members of the NASCAR team exude potential, are self-directed, and find their work enjoyable.
“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.