PGA 3.0 - Level 1 Facility Management (A+ graded)

Who should provide direction for creating the business plan at a golf operation? correct answers golf operation stakeholders What are the five phases (in order from first to fifth) of the PGA Business Planning Model? correct answers Define the business; assess the current state of the business; develop goals, objectives, and strategies; develop financial forecasts and budgets; monitor performance What is the usual business destination for long-range planning? correct answers 3-5 years What is the most significant benefit of strategic business planning? correct answers Provides long-term vision and destination 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 answers Make assumptions about how inside and outside factors will affect the business 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 answers Proposed mission statement What time frame would be the least effective for monitoring the progress and performance of a business plan? correct answers Annually The process for developing a business plan stars before you establish the goals you would like to achieve for the shop's coming year. correct answers True A well thought out business plan will typically focus on achieving financial goals. correct answers False Staff should be involved in effective business planning to create a sense of ownership. correct answers True Assessing the current state of the business is the most significant advantage of strategic business planning. correct answers False According to the Business Planning Model, a business plan should build on and refine the operational plan. correct answers False Proactive planning is one of the anticipated outcomes of strategic business planning? correct answers True