The process for developing a business plan starts before you establish the goals you would like to achieve for the shop's coming year. (T / F)
This is true- There are 5 phases to the PGA business planning model and goals are in the 3rd phase. Before you establish goals you would like to achieve yo...
PGM LEVEL 1 FACILITY MANAGEMENT
The process for developing a business plan starts before you establish the goals
you would like to achieve for the shop's coming year. (T / F) - correct answer This
is true- There are 5 phases to the PGA business planning model and goals are in
the 3rd phase. Before you establish goals you would like to achieve you must
first "Define the Business" and second "Assess the Current State of the
Business." (Page 5)
A well thought out business plan will typically focus on achieving financial goals.
(T / F) - correct answer True: For a golf facility or business, a well thought out
plan helps: Establish and achieve financial goals (bottom of page 2)
Staff should be involved in effective business planning to create a sense of
ownership. (T / F) Page 4 (paragraph 4) - correct answer True: One key to the
creation of effective business plans is to involve major stakeholders and staff in
the planning process.
Assessing the current state of business is the most significant advantage of
strategic business planning. (T / F) - correct answer False: The most significant
advantage of strategic business planning is that it provides long term vision,
destination and does not focus on the current state of the business. (Bottom of
page 3)
Who should provide direction for creating the business plan at a golf operation? -
correct answer Input from Key stakeholders is used to establish the facility's
purpose and direction. (Page 5 under define the business)
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 strategies, Prepare financial forecasts and budgets,
Monitor performance
According to the Business Planning Model, a business plan should build on and
refine the operational plan. (T / F) - correct answer True
,What is the usual business destination for long-range planning? - correct answer
Long range plans are usually 3 to 5 year plans that identify a future "destination"
for a business. (Page 4 second paragraph)
Proactive planning is one of the anticipated outcomes of strategic business
planning? - correct answer Yes, "Promoting proactive problem solving" This is a
part of "strategic business planning"
What is the most significant benefit of strategic business planning? - correct
answer Defining the future and destination of a business is the most significant
benefit. (Page 4, 2nd paragraph)
Clarification of job responsibilities is one of the added values provided by the
strategic planning process? (T / F) - correct answer False: The clarification is not
included on the strategic business planning list. (Page 3)
Business goals are typically developed in the Defining the Business phase of the
business planning process. (T / F) - correct answer False: Define the business is
in phase one. Business goals developed in phase 3 called (Develop Business
Goals, Objectives, and Related Strategies).
Typically, a written set of core values is developed in the Defining the Business
phase of the business planning process. (T / F) - correct answer True
Helping establish a starting point for goals, objectives, and related strategies is
an appropriate use of the SWOT analysis. (T / F) - correct answer True
Financial forecasts should be based on historical data derived from a linear trend
analysis. (T / F) - correct answer False: This means creating a financial forecast
based on projections of revenues, expenses, and net income.
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 (page 5)
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 Assess the Current State of the Business (Page
5)
What time frame would be the least effective for monitoring the progress and
performance of a business plan? - correct answer It would be least effective to
hold off monitoring progress until the end of the year. In the book it states "It is
not uncommon for many successful management companies and golf
professionals to track performance for each core business area on a daily or
weekly basis." The book also mentions that daily, weekly, and monthly reports are
outcomes of this phase.
The skills of a golf professional include knowing rounds, memberships, golf cars,
tournaments, and merchandise generate revenue for a facility. (TI F) - correct
answer True
A personal development summary details interests, strengths, weakness, and
future personal development steps. (T / F) - correct answer True
What must every professional understand about evaluation? - correct answer
Every professional must understand that evaluation is a continuous process.
Evaluation does not end after a milestone is achieved or a job is secured. It also
involves evaluating both short and long-term progress. Career advancement is
accelerated by regularly assessing individual interests, strengths and
accomplishments, weaknesses, and areas for development. Finally, recording
self-evaluation information in a professional development summary makes it
accessible for use in the other phases of career planning. Page 4
, How might a golf professional discover interests? - correct answer Exploring
industry opportunities, connecting with people in the industry, and gaining first-
hand experiences at golf facilities are ways to reveal specific interests that are
useful to career development. Personal interests evolve over time because self-
evaluation is an ongoing process. Understanding what truly drives a person's
career is only possible by examining options and taking advantage of
opportunities to explore separate areas of work. The goal is to discover a career
where interests often align with job responsibilities. Page 4
What is part of the Explore stage in the Career Planning Process? - correct
answer Exploring these career opportunities to understand the diverse nature of
the industry and evaluate personal interests connected to available positions.
Page 10
It is best to narrow one's focus to a specific job when exploring career options.(TI
F) - correct answer False: explore the career opportunities to understand the
diverse nature of the industry and evaluate personal interests connected to
available positions
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. Enabled industries produce other economic
activities that the game of golf enables such as tourism and residential
construction.
PGA.org/Jobs provides information on industry positions, networking, resume
writing, and interviewing? (T / F) - correct answer True
What is the difference between a career ladder and a career lattice? - correct
answer Career ladder- characterizes a linear or directly upward career
progression. Career lattice- depicts a combination of sideways and upward career
movements.
A career lattice characterizes an upward career progression? (T / F) - correct
answer False: career lattice- depicts a combination of sideways and upward
career movements
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GUARANTEEDSUCCESS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.
