stakeholders - ANSWER a person or group having a stake or interest in the success of the business (key in establishing business goals)
What is the most significant advantage of strategic business planning? - ANSWER Provides a long-term vision and destination; doesn't just focus on the current st...
PGA PGM Level 1- Facility Management
Latest Update 2024
stakeholders - ANSWER a person or group having a stake or interest in the success of
the business (key in establishing business goals)
What is the most significant advantage of strategic business planning? - ANSWER
Provides a long-term vision and destination; doesn't just focus on the current state of
the business
What is strategic business planning? - ANSWER the formal process of defining an
organization's future direction and destination
Long-range plans - ANSWER Usually 3-5 year plans; identify a future "destination" for a
business; include long-term goals and a financial forecast
Annual business plans - ANSWER short-term, one year plans with specific objectives
and budgets created to achieve measurable growth towards its long-term goals and
vision
5 Phases of the Business Planning Model - ANSWER 1. Define the business
2. Assess the current state of the business
3. Develop business goals, objectives, and strategies
4. Prepare financial forecasts and budgets
5. Monitor performance
Defining the Business - ANSWER Input from key stakeholders is used to establish the
facility's purpose and direction (core values, mission, vision)
Creating a business profile is a part of which phase? - ANSWER Defining the business
An effective vision statement... - ANSWER defines what the business looks like, what it
stands for, and what it will achieve
PGA of America Core Values - ANSWER "Pride, Passion, Honor, Integrity, and
Sportsmanship"
A facility profile is based on... - ANSWER Descriptive data about the facility (geographic
locale, customers, competitors, golf trends, economic conditions, play value)
What does a yield analysis identify? - ANSWER Most frequent customers, customers
who generate the most revenue, markets of new potential customers, and when rounds
are played
, What are the three types of competition? - ANSWER Direct, indirect, cooperative
Direct Competition - ANSWER businesses that offer similar products and service, and
act and react to each other's strategic actions
Indirect Competition - ANSWER businesses that meet the same customer need with a
different service (usually other activities outside of golf)
Cooperative Facilities - ANSWER Facilities that have forged mutually beneficial
collaborations with their competitors (both direct and indirect); more resistant to market
downturns and changing trends.
Is a mission statement static or dynamic? - ANSWER Dynamic (changes)- it guides all
business decisions and actions of a facility and steers the decision-making process over
time
Key characteristics of an effective mission statement: - ANSWER -Concise
-Believable
-Realistic
-Relevant
-Evolving
Two types of performance data: - ANSWER Qualitative and quantitative
Internal Data Sources - ANSWER Under the facility's direct control (staffing, course
maintenance, amenities, business marketing)
External Data Sources - ANSWER Outside of the facility's control (performance of
competitors, development of nearby housing, government regulations, weather)
SWOT Analysis - ANSWER a planning tool used to analyze an organization's strengths,
weaknesses, opportunities, and threats; provides a structured method for assessing
business conditions and prioritizing key success factors
Goal - ANSWER A measurable long-term desired outcome identified by the planning
team that may take 3-5 years to achieve
Objective - ANSWER short-term outcome (usually one fiscal year or less) that is linked
to achieving the long-term goal
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