PGA PGM 3.0 Level 1 Test (Latest 2022/2023)
The Process for developing a business plan starts before you establish the goals you would like to achieve
... [Show More] for the shops coming year - True
Who should provide direction for creating the business plan at a Golf Operation - Key Stakeholders
According to the business planning Model, a business plan should build on and refine the operation plan - False
Long - Range Planning should initially assume an adversarial relationship between neighboring facilities that directly compete with each other. - True
What is the usual business destination for long range planning? - 3-5 years Achieve its vision
what is the most significant benefit of strategic business Planning. - Provide a long term vision & Destination
Helping Establish a starting point for goals, Objectives, and related strategies is an appropriate use of a SWOT analysis. - True
You are in the process of completing a business plan for the golf shop. Initial forecast of sales, expenses, and profit have been made. Past data has been analyzed and important inside and outside factors have been identified. What is the next step to be taken towards completing the plan? - Monitor Performance
A Golf Professional is purchasing a golf course. The business plan he presented to his banker included his history of operating successfully operating similar facilities, budget projections for the first five years under his management, and objectives and strategies for reaching his goals. The banker rejected the loan application because of missing information. What important element is missing from the business plan? - Current state of the business
The SWOT analysis would treat opportunities are threats as factors that usually can be controlled by the facility. - False
The Result of a SWOT analysis could be sufficient justification for the abandonment of a core business function - True
Staff evaluation are a relevant data source for a SWOT analysis - True
How might revenues be affected at a nearby daily fee course if the local tire plant has major layoffs - Go Down (decrease)
Lack of a mission statement is an example of a weakness that a SWOT analysis might disclose - True
Trends in local consumer spending would be most useful for evaluating a core business function - True
What should govern the decision to pursue an opportunity? - Finances - Barriers to entry - recourses - opportunity cost
Goals, Objectives & strategies -
Consider the following the statement as part of the a business plan: "improve range profits and customer satisfaction." According to the business planning course, this statement is an example of an objective. - True
The new manager of a ten - year - old private course currently doing an average of 5, 000 tournament rounds per year, proposes to increase tournament rounds by 50% by the end of the next year. This proposal meets the criteria for an effective business objective as presented in the business planning course manual. - True
"Develop and promote group lesson programs aimed at a women and Juniors" is an example of an effective business objectives. - False
What Important Characteristic is missing in the business Objectives. "Increase pro shop sales next year? [Show Less]