PGA PGM 3.O Level 1 Business Planning (81
questions complete with verified solutions )
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
True
Who should provide direction for creating the business plan at a golf operation?
Key Stakeholders
T/F
According to the Business Planning Model, a business plan should build on and refine the
operational plan
True
T/F
Long-Range planning should initially assume an adversarial relationship between neighboring
facilities that directly compete with each other
False
What is the usual business destination for long-range planning?
3-5 Years
What is the most significant benefit of strategic business planning?
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 the SWOT analysis.
True
T/F
Financial forecasts should be based on historic data derived from linear trend analysis
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 inside and
outside factors have been identified. What is the next step to be taken towards completing the
plan?
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
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?
Current State of the Business
T/F
A vision defines the short term objectives that must be accomplished in the upcoming year
False
Vision is long term, objectives are short term
T/F
A facility profile defines the overall culture of the business
False
a facility profile describes the facility and the current business content
T/F
The projected customer base of certain golf facilities located in the United States could assume
members drawn from international markets
True
T/F
A yield analysis is used to compile a facility's historical data on the number of rounds played
False
Rounds report
What is the process called when the manager reviews total rounds to determine who is playing
and when?
Yield Analysis
T/F
Mission statements should include a definition of the facility's underlying financial model
questions complete with verified solutions )
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
True
Who should provide direction for creating the business plan at a golf operation?
Key Stakeholders
T/F
According to the Business Planning Model, a business plan should build on and refine the
operational plan
True
T/F
Long-Range planning should initially assume an adversarial relationship between neighboring
facilities that directly compete with each other
False
What is the usual business destination for long-range planning?
3-5 Years
What is the most significant benefit of strategic business planning?
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 the SWOT analysis.
True
T/F
Financial forecasts should be based on historic data derived from linear trend analysis
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 inside and
outside factors have been identified. What is the next step to be taken towards completing the
plan?
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
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?
Current State of the Business
T/F
A vision defines the short term objectives that must be accomplished in the upcoming year
False
Vision is long term, objectives are short term
T/F
A facility profile defines the overall culture of the business
False
a facility profile describes the facility and the current business content
T/F
The projected customer base of certain golf facilities located in the United States could assume
members drawn from international markets
True
T/F
A yield analysis is used to compile a facility's historical data on the number of rounds played
False
Rounds report
What is the process called when the manager reviews total rounds to determine who is playing
and when?
Yield Analysis
T/F
Mission statements should include a definition of the facility's underlying financial model
