The Processfor developing a business plan starts before you establish the goals you would like to achieve for the shops coming year SELECTED ANSWER -True Who should provide direction for creating the business plan at a Golf Operation SELECTED ANSWER-Key Stakeholders According to the business planning Model, a business plan should build on and refine the operation plan SELECTED ANSWER-False Long - Range Planning should initially assume an adversarial relationship between neighboring facilities that directly compete with each other. SELECTED ANSWER-True What isthe usual business destination for long range planning? SELECTED ANSWER3-5 years Achieve its vision what isthe most significant benefit ofstrategic business Planning. SELECTED ANSWERProvide a long term vision & Destination Helping Establish a starting point for goals, Objectives, and related strategies is an appropriate use of a SWOT analysis. SELECTED ANSWERTrue 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? SELECTED ANSWERMonitor 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 strategiesfor reaching his goals. The banker rejected the PGA PGM 3.0 LATEST EXAM 2023 loan application because of missing information. What important element is missing from the business plan? SELECTED ANSWERCurrent state of the business The SWOT analysis would treat opportunities are threats as factorsthat usually can be controlled by the facility. SELECTED ANSWERFalse The Result of a SWOT analysis could be sufficient justification for the abandonment of a core business function SELECTED ANSWERTrue Staff evaluation are a relevant data source for a SWOT analysis SELECTED ANSWERTrue How might revenues be affected at a nearby daily fee course if the local tire plant has major layoffs SELECTED ANSWERGo Down (decrease) Lack of a mission statement is an example of a weakness that a SWOT analysis might disclose SELECTED ANSWERTrue Trendsin local consumerspending would be most useful for evaluating a core business function SELECTED ANSWERTrue Whatshould govern the decision to pursue an opportunity? SELECTED ANSWERFinances - Barriers to entry -recourses - opportunity cost Goals,Objectives & strategies SELECTED ANSWER Consider the following the statement as part of the a business plan: "improve range profits and customersatisfaction." According to the business planning course, this statementis an example of an objective. SELECTED ANSWERTrue 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. SELECTED ANSWERTrue PGA PGM 3.0 LATEST EXAM 2023 "Develop and promote group lesson programs aimed at a women and Juniors" is an example of an effective business objectives. SELECTED ANSWERFalse What Important Characteristic is missing in the business Objectives. "Increase pro shop sales next year?" SELECTED ANSWERMeasurables; How are you going to measure Which Characteristics of goals and objectives is described as capable of being observed, recorded, and measure. SELECTED ANSWERQuantifiable What isfunctionally significant difference between goals and objectives? SELECTED ANSWERgoal few clearlydefined targets objectives of how we get the goal. A facilitiesfinancial objectives could achieved through operationalstrategies alone. SELECTED ANSWERFalse 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? SELECTED ANSWER....... What is an example of a financial Strategy? SELECTED ANSWERBorrowing Money: Debt: Reduce operatingexpense. What would be the most appropriate initialresponse to a facility income not meeting projections. SELECTED ANSWER....... Financial, Forecast, and Budgets SELECTED ANSWER Calculating yield involves knowing the relationship between the amount utilized and the amount available. SELECTED ANSWERTrue Gross Profit is what remains after calculating the difference between revenue and cost of goods SELECTED ANSWERTrue