T/F The process for developing a business plan starts before you establish the goals you would like to achieve for the shop's coming year. - ANSWER True
Who should provide direction for creating the business plan at a golf operation - ANSWER Key Stakeholders
T/F Long range planning should ini...
PGA Level 1 Facility Management
Correct 100%
T/F The process for developing a business plan starts before you establish the goals
you would like to achieve for the shop's coming year. - ANSWER True
Who should provide direction for creating the business plan at a golf operation -
ANSWER Key Stakeholders
T/F Long range planning should initially assume an adversarial relationship between
neighboring facilities that directly compete with eachother - ANSWER True
T/F According tho the Business Planning Model, a business plan should build on and
refine the operational plan. - ANSWER False
What is the usual business destination for long-range planning - ANSWER 3-5 Years;
Achieve its vision
What is the most significant benefit of strategic business planning - ANSWER provides
a long term vision and destination
T/F Helping establish a starting point for goals, objectives, and related strategies is an
appropriate use of SWOT - ANSWER True
T/F Financial forecasts should be based on historical data derivied from a linear trend
analysis - ANSWER True
You are in the process of completing a business plan for the golf shop. Initial forecasts
of sales, expenses and profit have been made. Past data has been analyzed and
important outside factors have been identified. What is the next step to be taken
towards completing the plan. - ANSWER Monitor Performance
A golf professional is purchasing a golf course. The Business plan he presented to his
banker included his history of successfully operating similar facilities, budget projections
for the first 5 years under his management, and objectives and strategies for reaching
his goals. The banker rejected his loan application because of missing information.
What important element is missing from the business plan? - ANSWER Current State of
Business
T/F A vision defines the short term objectives that must be accomplished in the
upcoming year - ANSWER False
T/F A facility profile defines the overall culture of the business - ANSWER True
, T/F The projected customer base of certain golf facilities located in the US could
assume members drawn from international markets. - ANSWER True
T/F A yield analysis is used to compile a facility's historical data on the number of
rounds played - ANSWER True
T/F Trends in local consumer spending would be most useful for evaluation a core
business function - ANSWER True
What should govern the decision to pursue an oppurtunity - ANSWER Finances,
barriers to entry, resources, opportunity cost.
T/F Consider the following statement as part of a business plan: "improve range profits
and customer satisfaction." According to the business planning course, this statement is
an example of an objective - ANSWER True
T/F The new manager of a 10 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 next year. This proposal meets the criteria for an effective business objective
as presented in the Business Planning Course Manual - ANSWER True
T/F "Develop and promote group programs aimed at women and juniors" is an example
of an effective business objective. - ANSWER False
What important characteristic is missing in the business objective;" increased pro shop
sales next year" - ANSWER Measurable; how are you going to measure.
which characteristic of goals and objectives is described as capable of being observed,
recorded, and measured. - ANSWER Quantifiable
what is the functionality significant difference between goals and objectives - ANSWER
goals few clearly defined targets
objectives how do we get to the goal
T/F a facility's financial objectives could be achieved through operational strategies
alone - ANSWER False
What is an example of a financial strategy - ANSWER Borrowing Money, Debt, Reduce
operating expenses
T/F calculating yield involves knowing the relationship between the amount utilized and
the amount available. - ANSWER True
T/F Gross Profit is what remains after calculating the difference between revenue and
cost of goods. - ANSWER True
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