PGA PGM 3.0 Level 1 Test | 447 Questions with 100% Correct Answers
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Course
PGM
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 Correct Answer: True
Who should provide direction for creating the business plan at a Golf Operation Correct Answer: Key Stakeholders
According to the busines...
pga pgm 30 level 1 test | 447 questions with 100 correct answers
pga pgm 30 level 1 test
the process for developing a business plan starts before you establish the goals you would like to achieve
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PGA PGM 3.0 Level 1 Test | 447
Questions with 100% Correct Answers
The Process for developing a business plan starts before you establish the goals
you would like to achieve for the shops coming year Correct Answer: True
Who should provide direction for creating the business plan at a Golf Operation
Correct Answer: Key Stakeholders
According to the business planning Model, a business plan should build on and
refine the operation plan Correct Answer: False
Long - Range Planning should initially assume an adversarial relationship between
neighboring facilities that directly compete with each other. Correct Answer: True
What is the usual business destination for long range planning? Correct Answer:
3-5 years Achieve its vision
what is the most significant benefit of strategic business Planning. Correct Answer:
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. Correct Answer: 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? Correct Answer: 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? Correct Answer: Current state of the business
,The SWOT analysis would treat opportunities are threats as factors that usually can
be controlled by the facility. Correct Answer: False
The Result of a SWOT analysis could be sufficient justification for the
abandonment of a core business function Correct Answer: True
Staff evaluation are a relevant data source for a SWOT analysis Correct Answer:
True
How might revenues be affected at a nearby daily fee course if the local tire plant
has major layoffs Correct Answer: Go Down (decrease)
Lack of a mission statement is an example of a weakness that a SWOT analysis
might disclose Correct Answer: True
Trends in local consumer spending would be most useful for evaluating a core
business function Correct Answer: True
What should govern the decision to pursue an opportunity? Correct Answer:
Finances - Barriers to entry - recourses - opportunity cost
Goals, Objectives & strategies Correct Answer:
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. Correct Answer: 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. Correct
Answer: True
"Develop and promote group lesson programs aimed at a women and Juniors" is an
example of an effective business objectives. Correct Answer: False
What Important Characteristic is missing in the business Objectives. "Increase pro
shop sales next year?" Correct Answer: Measurables; How are you going to
measure
,Which Characteristics of goals and objectives is described as capable of being
observed, recorded, and measure. Correct Answer: Quantifiable
What is functionally significant difference between goals and objectives? Correct
Answer: goal few clearly defined targets objectives of how we get the goal.
A facilities financial objectives could achieved through operational strategies
alone. Correct Answer: 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? Correct Answer: .......
What is an example of a financial Strategy? Correct Answer: Borrowing Money:
Debt: Reduce operating expense.
What would be the most appropriate initial response to a facility income not
meeting projections. Correct Answer: .......
Financial, Forecast, and Budgets Correct Answer:
Calculating yield involves knowing the relationship between the amount utilized
and the amount available. Correct Answer: True
Gross Profit is what remains after calculating the difference between revenue and
cost of goods Correct Answer: True
Linear trend analysis and base year analysis are example of vertical analysis
Correct Answer: False
The Divisor in the linear trend formula - average percentage is the number of years
of change being measured. Correct Answer: 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
Correct Answer: True
Golf Shop sales of $100,000 yield gross margin of $30,000, What is the percent of
the cost of goods. Correct Answer: 30%
, What is the definition of "cost of goods sold" Correct Answer: 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? Correct Answer: 60%
According to the business planning course manual, what is usually the largest
contributor to the bottom line profit of the facility Correct Answer: Rounds
What is the formula for Merchandise Net Operating Income? Correct Answer:
Revenue Generated - Operating Expense
What events would cause a change in the forecast for the golf shop expense?
Correct Answer:
What metric should be part of every forecast regardless of the type of the facility
Correct Answer:
A Vision defines the short - Term objectives that must be accomplished in the
upcoming year. Correct Answer: False
A Facility profile defines the overall culture of the business Correct Answer: True
The projected customer base of certain golf facilities located in the United States
could assume members drawn from international Markets. Correct Answer: True
A yield Analysis is used to compile a facilities historical data on the number of
rounds played. Correct Answer: True
What is the process called when a manager reviews total rounds to determine who
is playing and when? Correct Answer: Yield Analysis
Mission Statements should include a definition of the facility's underlying financial
model. Correct Answer: False
A sound mission statement defines the long term vision and core values of a
facility Correct Answer: True
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