All Correct Answers
PGA Business Planning Model correct answer -
The process for developing a business plan starts before you established the
goals you would like to achieve for the shop's coming year, correct answer
-True
Staff should be involved in effective business planning to create a sense of
ownership. correct answer -True, Majors stakeholders and staff.
Assessing the current state of business is the most significant advantage of
strategic business planning. correct answer -False. Most significant
advantage is it provides a long term vision.
Who should provide direction for creating the business plan at a golf
operation? correct answer -The people in charge. Pros, board members,
and GM. Key stakeholders.
What are the five phases of the PGA Business planning model? correct
answer -Define the business
Assess the current state of the business.
Develop business goals, objectives, and related strategics.
Prepare financial forecasts and budgets.
Monitor performance
According to the business planning model, a business plan should build on
and refine the operational plan. correct answer -False
What is the usual business destination for long range planning. correct
answer -Usually a long term is 3-5 years. A part of this long-range plan is
annual operating budget and cash flow statement.
,Proactive planning is one of the anticipated outcomes of strategic business
planning. correct answer -True
What is the most significant benefit of strategic business planning. correct
answer -It provides a long term vision and destination and does not just
focus on the current state of the business.
Clarification of job responsibilities is one of the added values provided by the
strategic planning process. correct answer -False
Business goals are typically developed in the Defining the business phase of
the business planning process. correct answer -False. Those are developed
in the develop business goals.
Typically a written set of course values is developed in the defining the
business phase of the business planning process. correct answer -True. As
well as mission statement, vision statement and others.
Helping establish a starting point for goals, objectives, and related strategies is
an appropriate use of the SWOT. correct answer -True
Financial forecasts should be based on historical data and new assumptions.
correct answer -False. Financial forecast should be based on historical data
and new assumptions.
1. 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 inside and outside factors have been identified. What
is the next step to be taken towards completing the plan? correct answer -
Monitor performance.
1. 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 five 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? correct answer -He is missing a mission
statement.
, What time frame would be the least effective for monitoring the progress and
performance of a business plan? correct answer -The time frame that
would be most effective is daily monitoring. The least productive would be
every month or yearly.
The skills of a golf professional include knowing rounds, membership, golf
cars, tournaments, and merchandise generate revenue for a facility. correct
answer -False. This question is about knowledge not skills.
A personal development summary details interests, strengths, weakness, and
future personal development step.s correct answer -True
What must every professional understand about evaluation? correct answer
-It is a continuous process, and it is crucial to career advancements.
How might a golf professional discover interests? correct answer -Time. It
takes time to discover what your interests are first hand experiences and
connecting with people in the industry are two good ways to find interests.
Basically, don't be afraid to try new things.
What is part of the Explore stage in the Career Planning process? correct
answer -Part of the explore stage overlaps with the evaluation stage. As
people start to learn more about themselves, they envision careers that match
their interests, knowledge, skills, and values.
It is best to narrow ones focus to a specific job when exploring career options.
correct answer -False. It's best to explore career options. You may find you
like something you didn't think you would.
Explain the difference between a core industry segment and an enabled
industry segment. correct answer -Core industries produce goods and
services used to play the game and operate facilities. Enable industries
produce other economic activities that the game of golf enables like tourism
and residential construction.
PGA.org/Job provides information on industry positions, networking, resumes
writing, and interviewing. correct answer -True