The Process for developing a business plan starts before you establish the goals you would like to achieve for the shops coming year - ANS True
Who should provide direction for creating the business plan at a Golf Operation - ANS Key Stakeholders
According to the business planning Model, a ...
PGA PGM 3.0 Level 1 Test
The Process for developing a business plan starts before you establish the goals you
would like to achieve for the shops coming year - ANS True
Who should provide direction for creating the business plan at a Golf Operation - ANS
Key Stakeholders
According to the business planning Model, a business plan should build on and refine
the operation plan - ANS False
Long - Range Planning should initially assume an adversarial relationship between
neighboring facilities that directly compete with each other. - ANS True
What is the usual business destination for long range planning? - ANS 3-5 years Achieve
its vision
what is the most significant benefit of strategic business Planning. - ANS 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. - ANS 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? - ANS 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? - ANS Current
state of the business
The SWOT analysis would treat opportunities are threats as factors that usually can be
controlled by the facility. - ANS False
The Result of a SWOT analysis could be sufficient justification for the abandonment of a
core business function - ANS True
Staff evaluation are a relevant data source for a SWOT analysis - ANS True
,How might revenues be affected at a nearby daily fee course if the local tire plant has
major layoffs - ANS Go Down (decrease)
Lack of a mission statement is an example of a weakness that a SWOT analysis might
disclose - ANS True
Trends in local consumer spending would be most useful for evaluating a core business
function - ANS True
What should govern the decision to pursue an opportunity? - ANS Finances - Barriers to
entry - recourses - opportunity cost
Goals, Objectives & strategies - ANS
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. - ANS 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. - ANS True
"Develop and promote group lesson programs aimed at a women and Juniors" is an
example of an effective business objectives. - ANS False
What Important Characteristic is missing in the business Objectives. "Increase pro shop
sales next year?" - ANS Measurables; How are you going to measure
Which Characteristics of goals and objectives is described as capable of being observed,
recorded, and measure. - ANS Quantifiable
What is functionally significant difference between goals and objectives? - ANS goal few
clearly defined targets objectives of how we get the goal.
A facilities financial objectives could achieved through operational strategies alone. -
ANS False
The Following agenda was part of a golf range business plan."175 dozen range balls and
rotate usage three times a year. Who: Head Professional. When: End of First Quarter.
Cost: $1500" According to the business plan component represented by this statement?
- ANS .......
,What is an example of a financial Strategy? - ANS Borrowing Money: Debt: Reduce
operating expense.
What would be the most appropriate initial response to a facility income not meeting
projections. - ANS .......
Financial, Forecast, and Budgets - ANS
Calculating yield involves knowing the relationship between the amount utilized and the
amount available. - ANS True
Gross Profit is what remains after calculating the difference between revenue and cost of
goods - ANS True
Linear trend analysis and base year analysis are example of vertical analysis - ANS
False
The Divisor in the linear trend formula - average percentage is the number of years of
change being measured. - ANS True
Conducting a base year analysis is a good choice for a facility that has just completed a
project that added nine new holes to the original 9 - hole course - ANS True
Golf Shop sales of $100,000 yield gross margin of $30,000, What is the percent of the
cost of goods. - ANS 30%
What is the definition of "cost of goods sold" - ANS Cost used to by stock
If the gross target margin for your golf shop were about 40%, what would be the target %
for your cost of goods sold? - ANS 60%
According to the business planning course manual, what is usually the largest
contributor to the bottom line profit of the facility - ANS Rounds
What is the formula for Merchandise Net Operating Income? - ANS Revenue Generated -
Operating Expense
What events would cause a change in the forecast for the golf shop expense? - ANS
What metric should be part of every forecast regardless of the type of the facility - ANS
A Vision defines the short - Term objectives that must be accomplished in the upcoming
year. - ANS False
, A Facility profile defines the overall culture of the business - ANS True
The projected customer base of certain golf facilities located in the United States could
assume members drawn from international Markets. - ANS True
A yield Analysis is used to compile a facilities historical data on the number of rounds
played. - ANS True
What is the process called when a manager reviews total rounds to determine who is
playing and when? - ANS Yield Analysis
Mission Statements should include a definition of the facility's underlying financial
model. - ANS False
A sound mission statement defines the long term vision and core values of a facility -
ANS True
It is appropriate to address the role of the employee in the mission statement - ANS
False
Assessing the current state of business. - ANS
The interpretation of the quantitative data is less susceptible to differences of opinion
than qualitive data - ANS True
Customer demographics is an internal factor - ANS False
What type if information is typically provided by qualitive data. - ANS Likes; Dislikes;
Experiences
What examples would be considered internal data sources for planning purposes - ANS -
Finances - Cogs etc..
Cost of goods sold is an example of qualitive date - ANS False
What information would be most useful to the planning team interested in measuring the
facilities past or current success - ANS Historical Yield Analysis
The Utility of your business plan for managing Day to Day operations in a golf shop
depends on your ability to manage internal factors - ANS True
Consider the following table:
Based on trend analysis, what forecast would be made on the number of weekend
rounds that will be played in year 5.
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