PGA LEVEL 1. All Revision Questions and Correct Answers (Already Graded A+) (2024
Update) 100% Guaranteed
BUSINESS PLANNING - ANSWER-
Business planning process - ANSWER- organized plan that clearly describes explicit goals and
objectives and strategy for accomplishing them
PGA Business Planning Model (5 phases) - ANSWER- 1. Define the business
2. Assess current state of the business
3. Develop business goals, objectives, and strategies
4. Prepare financial forecasts/budgets
5. Monitor performance
Long term vs short term - ANSWER- Long term = 3-5 years
Short term = less than 1 year
Mission (define the business) - ANSWER- purpose
Vision (define the business) - ANSWER- phrase that paints a picture
where want to be in future
core values (define the business) - ANSWER- individual words that shape the mission, vision
assess the current state of the business... - ANSWER- understanding and utilizing performance
data, assessing core areas, SWOT, and prioritizing findings
,Goals vs. Objectives - ANSWER- goals intend to be accomplished 3-5 years
objectives within 1 year help to accomplish goal
SMART goals and objectives - ANSWER- Specific
Meaningful
Achievable
Realistic
Time-oriented
Strategies define what your going to to do to achieve objectives
Action plans define... - ANSWER- specific "how to" strategies
Horizontal analysis - ANSWER- usually centers on a specific revenue or expense metric
-Linear trend = evaluates positive and negative trends over time
-Base year analysis = categories values are compared to one benchmark year
Linear trend formula - percentage change - ANSWER- (Later Year - Previous Year)/Previous
year = % Change
Linear trend formula - Average percentage change - ANSWER- (sum of all linear trend
calculations)/Number of calculations
Base year analysis formula - ANSWER- ((comparison year)/Base year) x 100%
usually used after a major change at facility
, Vertical analysis - ANSWER- compares values in the same column of forecast or budget
ex. COGS compared to total sales
COGS as % of Sales - ANSWER- COGS/Total Merchandise sales
gross margin as a percentage of sales - ANSWER- Gross margin/total merchandise sales
operating budget - ANSWER- take figures from forecast and realistically estimate when
revenues and expenses will occur over the year
cash flow budgets - ANSWER- Projects how much money a facility will have in bank at end
of every month or week - actual dollars in and out
capital budget - ANSWER- projects the expenses associated with those purchases and large
scale projects
monitor performance - ANSWER- systematically tracking performance and key metrics to
objectives, strategies and budget
variances monitored and analyzed constantly
CUSTOMER RELATIONS - ANSWER-
customer relations model - ANSWER- - Moments of truth
- Resources, staffing, systems
- Interaction strategies
- Interpersonal skills
- Positive engagement routines
Update) 100% Guaranteed
BUSINESS PLANNING - ANSWER-
Business planning process - ANSWER- organized plan that clearly describes explicit goals and
objectives and strategy for accomplishing them
PGA Business Planning Model (5 phases) - ANSWER- 1. Define the business
2. Assess current state of the business
3. Develop business goals, objectives, and strategies
4. Prepare financial forecasts/budgets
5. Monitor performance
Long term vs short term - ANSWER- Long term = 3-5 years
Short term = less than 1 year
Mission (define the business) - ANSWER- purpose
Vision (define the business) - ANSWER- phrase that paints a picture
where want to be in future
core values (define the business) - ANSWER- individual words that shape the mission, vision
assess the current state of the business... - ANSWER- understanding and utilizing performance
data, assessing core areas, SWOT, and prioritizing findings
,Goals vs. Objectives - ANSWER- goals intend to be accomplished 3-5 years
objectives within 1 year help to accomplish goal
SMART goals and objectives - ANSWER- Specific
Meaningful
Achievable
Realistic
Time-oriented
Strategies define what your going to to do to achieve objectives
Action plans define... - ANSWER- specific "how to" strategies
Horizontal analysis - ANSWER- usually centers on a specific revenue or expense metric
-Linear trend = evaluates positive and negative trends over time
-Base year analysis = categories values are compared to one benchmark year
Linear trend formula - percentage change - ANSWER- (Later Year - Previous Year)/Previous
year = % Change
Linear trend formula - Average percentage change - ANSWER- (sum of all linear trend
calculations)/Number of calculations
Base year analysis formula - ANSWER- ((comparison year)/Base year) x 100%
usually used after a major change at facility
, Vertical analysis - ANSWER- compares values in the same column of forecast or budget
ex. COGS compared to total sales
COGS as % of Sales - ANSWER- COGS/Total Merchandise sales
gross margin as a percentage of sales - ANSWER- Gross margin/total merchandise sales
operating budget - ANSWER- take figures from forecast and realistically estimate when
revenues and expenses will occur over the year
cash flow budgets - ANSWER- Projects how much money a facility will have in bank at end
of every month or week - actual dollars in and out
capital budget - ANSWER- projects the expenses associated with those purchases and large
scale projects
monitor performance - ANSWER- systematically tracking performance and key metrics to
objectives, strategies and budget
variances monitored and analyzed constantly
CUSTOMER RELATIONS - ANSWER-
customer relations model - ANSWER- - Moments of truth
- Resources, staffing, systems
- Interaction strategies
- Interpersonal skills
- Positive engagement routines
