Exam (elaborations)

PGA PGM 3.0 Level 1 Test | 447 Questions with 100% Correct Answers | 35 Pages

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Course
PGA PGM 3.0 Level 1

Institution
Liberty University

The Process for developing a business plan starts before you establish the goals you would like to achieve 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 sh...

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PGA PGM 3.0 Level 1 Test 447 Questions with 100%
Correct Answers 35 Pages

The gProcess gfor gdeveloping ga gbusiness gplan gstarts gbefore gyou gestablish gthe
ggoals gyou gwould glike gto gachieve gfor gthe gshops gcoming gyear g- gANS-True

Who gshould gprovide gdirection gfor gcreating gthe gbusiness gplan gat ga gGolf gOperation
g- gANS-Key gStakeholders

According gto gthe gbusiness gplanning gModel, ga gbusiness gplan gshould gbuild gon gand
grefine gthe goperation gplan g- gANS-False

Long g- gRange gPlanning gshould ginitially gassume gan gadversarial grelationship
gbetween gneighboring gfacilities gthat gdirectly gcompete gwith geach gother. g- gANS-True

What gis gthe gusual gbusiness gdestination gfor glong grange gplanning? g- gANS-3-5 gyears
gAchieve gits gvision

what gis gthe gmost gsignificant gbenefit gof gstrategic gbusiness gPlanning. g- gANS-Provide
ga glong gterm gvision g& gDestination

Helping gEstablish ga gstarting gpoint gfor ggoals, gObjectives, gand grelated gstrategies gis
gan gappropriate guse gof ga gSWOT ganalysis. g- gANS-True

You gare gin gthe gprocess gof gcompleting ga gbusiness gplan gfor gthe ggolf gshop. gInitial
gforecast gof gsales, gexpenses, gand gprofit ghave gbeen gmade. gPast gdata ghas gbeen
ganalyzed gand gimportant ginside gand goutside gfactors ghave gbeen gidentified. gWhat gis
gthe gnext gstep gto gbe gtaken gtowards gcompleting gthe gplan? g- gANS-Monitor
gPerformance

A gGolf gProfessional gis gpurchasing ga ggolf gcourse. gThe gbusiness gplan ghe gpresented
gto ghis gbanker gincluded ghis ghistory gof goperating gsuccessfully goperating gsimilar
gfacilities, gbudget gprojections gfor gthe gfirst gfive gyears gunder ghis gmanagement, gand
gobjectives gand gstrategies gfor greaching ghis ggoals. gThe gbanker grejected gthe gloan
gapplication gbecause gof gmissing ginformation. gWhat gimportant gelement gis gmissing
gfrom gthe gbusiness gplan? g- gANS-Current gstate gof gthe gbusiness

The gSWOT ganalysis gwould gtreat gopportunities gare gthreats gas gfactors gthat gusually
gcan gbe gcontrolled gby gthe gfacility. g- gANS-False

,The gResult gof ga gSWOT ganalysis gcould gbe gsufficient gjustification gfor gthe
gabandonment gof ga gcore gbusiness gfunction g- gANS-True

Staff gevaluation gare ga grelevant gdata gsource gfor ga gSWOT ganalysis g- gANS-True

How gmight grevenues gbe gaffected gat ga gnearby gdaily gfee gcourse gif gthe glocal gtire
gplant ghas gmajor glayoffs g- gANS-Go gDown g(decrease)

Lack gof ga gmission gstatement gis gan gexample gof ga gweakness gthat ga gSWOT
ganalysis gmight gdisclose g- gANS-True

Trends gin glocal gconsumer gspending gwould gbe gmost guseful gfor gevaluating ga gcore
gbusiness gfunction g- gANS-True

What gshould ggovern gthe gdecision gto gpursue gan gopportunity? g- gANS-Finances g-
gBarriers gto gentry g- grecourses g- gopportunity gcost

Goals, gObjectives g& gstrategies g- gANS-

Consider gthe gfollowing gthe gstatement gas gpart gof gthe ga gbusiness gplan: g"improve
grange gprofits gand gcustomer gsatisfaction." gAccording gto gthe gbusiness gplanning
gcourse, gthis gstatement gis gan gexample gof gan gobjective. g- gANS-True

The gnew gmanager gof ga gten g- gyear g- gold gprivate gcourse gcurrently gdoing gan
gaverage gof g5, g000 gtournament grounds gper gyear, gproposes gto gincrease
gtournament grounds gby g50% gby gthe gend gof gthe gnext gyear. gThis gproposal gmeets
gthe gcriteria gfor gan geffective gbusiness gobjective gas gpresented gin gthe gbusiness
gplanning gcourse gmanual. g- gANS-True

"Develop gand gpromote ggroup glesson gprograms gaimed gat ga gwomen gand gJuniors"
gis gan gexample gof gan geffective gbusiness gobjectives. g- gANS-False

What gImportant gCharacteristic gis gmissing gin gthe gbusiness gObjectives. g"Increase
gpro gshop gsales gnext gyear?" g- gANS-Measurables; gHow gare gyou ggoing gto gmeasure

Which gCharacteristics gof ggoals gand gobjectives gis gdescribed gas gcapable gof gbeing
gobserved, grecorded, gand gmeasure. g- gANS-Quantifiable

What gis gfunctionally gsignificant gdifference gbetween ggoals gand gobjectives? g- gANS-
goal gfew gclearly gdefined gtargets gobjectives gof ghow gwe gget gthe ggoal.

A gfacilities gfinancial gobjectives gcould gachieved gthrough goperational gstrategies
galone. g- gANS-False

The gFollowing gagenda gwas gpart gof ga ggolf grange gbusiness gplan."175 gdozen grange
gballs gand grotate gusage gthree gtimes ga gyear. gWho: gHead gProfessional. gWhen: gEnd

,gof gFirst gQuarter. gCost: g$1500" gAccording gto gthe gbusiness gplan gcomponent
grepresented gby gthis gstatement? g- gANS-.......

What gis gan gexample gof ga gfinancial gStrategy? g- gANS-Borrowing gMoney: gDebt:
gReduce goperating gexpense.

What gwould gbe gthe gmost gappropriate ginitial gresponse gto ga gfacility gincome gnot
gmeeting gprojections. g- gANS-.......

Financial, gForecast, gand gBudgets g- gANS-

Calculating gyield ginvolves gknowing gthe grelationship gbetween gthe gamount gutilized
gand gthe gamount gavailable. g- gANS-True

Gross gProfit gis gwhat gremains gafter gcalculating gthe gdifference gbetween grevenue
gand gcost gof ggoods g- gANS-True

Linear gtrend ganalysis gand gbase gyear ganalysis gare gexample gof gvertical ganalysis g-
gANS-False

The gDivisor gin gthe glinear gtrend gformula g- gaverage gpercentage gis gthe gnumber gof
gyears gof gchange gbeing gmeasured. g- gANS-True

Conducting ga gbase gyear ganalysis gis ga ggood gchoice gfor ga gfacility gthat ghas gjust
gcompleted ga gproject gthat gadded gnine gnew gholes gto gthe goriginal g9 g- ghole gcourse
g- gANS-True

Golf gShop gsales gof g$100,000 gyield ggross gmargin gof g$30,000, gWhat gis gthe gpercent
gof gthe gcost gof ggoods. g- gANS-30%

What gis gthe gdefinition gof g"cost gof ggoods gsold" g- gANS-Cost gused gto gby gstock

If gthe ggross gtarget gmargin gfor gyour ggolf gshop gwere gabout g40%, gwhat gwould gbe
gthe gtarget g% gfor gyour gcost gof ggoods gsold? g- gANS-60%

According gto gthe gbusiness gplanning gcourse gmanual, gwhat gis gusually gthe glargest
gcontributor gto gthe gbottom gline gprofit gof gthe gfacility g- gANS-Rounds

What gis gthe gformula gfor gMerchandise gNet gOperating gIncome? g- gANS-Revenue
gGenerated g- gOperating gExpense

What gevents gwould gcause ga gchange gin gthe gforecast gfor gthe ggolf gshop gexpense? g-
gANS-

What gmetric gshould gbe gpart gof gevery gforecast gregardless gof gthe gtype gof gthe
gfacility g- gANS-

, A gVision gdefines gthe gshort g- gTerm gobjectives gthat gmust gbe gaccomplished gin gthe
gupcoming gyear. g- gANS-False

A gFacility gprofile gdefines gthe goverall gculture gof gthe gbusiness g- gANS-True

The gprojected gcustomer gbase gof gcertain ggolf gfacilities glocated gin gthe gUnited gStates
gcould gassume gmembers gdrawn gfrom ginternational gMarkets. g- gANS-True

A gyield gAnalysis gis gused gto gcompile ga gfacilities ghistorical gdata gon gthe gnumber gof
grounds gplayed. g- gANS-True

What gis gthe gprocess gcalled gwhen ga gmanager greviews gtotal grounds gto gdetermine
gwho gis gplaying gand gwhen? g- gANS-Yield gAnalysis

Mission gStatements gshould ginclude ga gdefinition gof gthe gfacility's gunderlying gfinancial
gmodel. g- gANS-False

A gsound gmission gstatement gdefines gthe glong gterm gvision gand gcore gvalues gof ga
gfacility g- gANS-True

It gis gappropriate gto gaddress gthe grole gof gthe gemployee gin gthe gmission gstatement g-
gANS-False

Assessing gthe gcurrent gstate gof gbusiness. g- gANS-

The ginterpretation gof gthe gquantitative gdata gis gless gsusceptible gto gdifferences gof
gopinion gthan gqualitive gdata g- gANS-True

Customer gdemographics gis gan ginternal gfactor g- gANS-False

What gtype gif ginformation gis gtypically gprovided gby gqualitive gdata. g- gANS-Likes;
gDislikes; gExperiences

What gexamples gwould gbe gconsidered ginternal gdata gsources gfor gplanning gpurposes
g- gANS-- gFinances g- gCogs getc..

Cost gof ggoods gsold gis gan gexample gof gqualitive gdate g- gANS-False

What ginformation gwould gbe gmost guseful gto gthe gplanning gteam ginterested gin
gmeasuring gthe gfacilities gpast gor gcurrent gsuccess g- gANS-Historical gYield gAnalysis

The gUtility gof gyour gbusiness gplan gfor gmanaging gDay gto gDay goperations gin ga ggolf
gshop gdepends gon gyour gability gto gmanage ginternal gfactors g- gANS-True

Consider gthe gfollowing gtable: g

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