SWOT Analysis - ANSWER a _____ provides a structured method for assessing business conditions and identifying and prioritizing key success factors
SWOT Analysis - ANSWER a _____ identifiques important strengths that the facility should maintain and leverage for positive performance, weaknesses t...
PGA Level 3 Facility Management
Exam 2024 Latest Update
SWOT Analysis - ANSWER a _____ provides a structured method for assessing
business conditions and identifying and prioritizing key success factors
SWOT Analysis - ANSWER a _____ identifiques important strengths that the facility
should maintain and leverage for positive performance, weaknesses that should be
improved, opportunities that should be taken advantage of and threats that should be
addressed and overcome
true - ANSWER t/f: a swot analysis can be used to assess the entire facility as a whole,
or specific core business areas of the operation
strengths - ANSWER which part of a SWOT analysis?
- course is successfully amortizing debt; even with a relatively low number of rounds
played
- ownership commitment to maintain to maintain current staffing levels in golf operations
while improving the business
opportunities - ANSWER which part of a SWOT analysis?
- local economic conditions remain good. direct competitors are selling more rounds and
charging higher prices. if crescent ridge cam improve conditions and operations, there is
an opportunity to generate more play and revenue per round
- recent closing of a large, off-course, golf retailer presents an opportunity to sell more
merchandise in the golf shop
weaknesses - ANSWER which part of a SWOT analysis?
- limited golf instruction and player development programs that fail to attract new players
or additional revenue
- declining facility conditions due to poor maintenance limit play and profitability
threats - ANSWER which part of a SWOT analysis?
- other similar golf courses in the area offer nicer facilities with more amenities
- competition has well-established instruction, player development and tournament
programs
goal - ANSWER a _____ is a measurable long-term desired outcome identified by the
planning team that may take three to five years to achieve
,objective - ANSWER a(n) _____ is a short-term outcome (usually one fiscal year or
less) that is linked to achieving the long-term goal
SMART - ANSWER effective objectives are.....
- specific
- measurable
- achievable
- realistic
- time-oriented - ANSWER what does SMART stand for?
1. financial
2. operational
3. promotional - ANSWER strategies generally fall into one of three categories...what
are they?
financial - ANSWER _____ strategies affect the facility's income or expenses without
significant changes to the facility's operations
operational - ANSWER _____ strategies that change the day-to-day work of the facility
and its staff
promotional - ANSWER _____ strategies that change the way the facility's product is
positioned in the market
financial - ANSWER what type of strategy?
- increasing/decreasing fees in one or more departments
- borrowing money for investment purposes
- creating "packages" the combine operations or services at an attractive price in order
to attract a specific customer base
- retiring debt to increase profit
- reducing operating expenses without changing operational procedures
operational - ANSWER what type of strategy?
- installing a new point-of-sale system to increase efficiency of transactions or
operations
- developing lesson tournament programs aimed at specific demographic groups
- expanding one or more operations, such as the golf shop, putting and chipping area,
or golf range
- changing the maintenance strategies for certain holes to speed up play
- renegotiating vendor contracts and reducing vendor choices
- hiring new staff or modifying schedules
- reducing stagg to control expenses
, promotional - ANSWER what type of strategy?
- maintaining and up-to-date and user-friendly website
- developing a direct mail advertising campaign to attract new customers or improve the
facility's image
- creating an email or internet campaign about the facility or a specific operation to
improve exposure
- systematic outreach to schools, clubs, and professional organizations to promote
programs or products
performance metric - ANSWER a _____ is any quantifiable measure used to gauge
success in meeting business goals and objectives
public facility - ANSWER the number of rounds and the fee charge per round
determines a large part of the income at a _____
private facility - ANSWER at a _____, membership dues usually generate more income,
but guest play and guest tournament rounds do affect the bottom line in golf operations
yield - ANSWER _____ is the ratio of rounds actually played to the number of rounds
available in a period (this can be multiplied by 100 to get a percentage)
(number of rounds played in a period / potential rounds in a period) x 100 - ANSWER
what is the formula for % yield for the period
revenue - ANSWER _____ refers to all sources of income at a facility or business
cost of goods sold - ANSWER the _____ is a major merchandising line item that is
always included in financial forecasts and budgets
cost of goods sold - ANSWER _____ represents the value (at cost) of all merchandise
that is sold to customers, stolen, lost, damaged, or destroyed during a particular period
beginning inventory + newly purchased inventory - ending inventory - ANSWER what is
the formula for calculating cost of goods sold (for a given period)
gross margin - ANSWER _____ is the difference between merchandise revenue and
the cost of goods sold in the same period
total merchandise sales - cost of goods sold - ANSWER what is the formula for
calculating gross margin?
payroll - ANSWER _____ is the single biggest expense in a golf operations budget
net operating income - ANSWER _____ is the difference between revenue and the cost
of goods sold and all operating expenses
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