PGA Level 1 Facility Management Questions and Answers Graded A+

PGA Business Planning Model The process for developing a business plan starts before you established the goals you would like to achieve for the shop's coming year, True Staff should be involved in effective business planning to create a sense of ownership. True, Majors stakeholders and staff. Assessing the current state of business is the most significant advantage of strategic business planning. False. Most significant advantage is it provides a long term vision. Who should provide direction for creating the business plan at a golf operation? The people in charge. Pros, board members, and GM. Key stakeholders. What are the five phases of the PGA Business planning model? 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. FalseWhat is the usual business destination for long range planning. 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. True What is the most significant benefit of strategic business planning. 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. False Business goals are typically developed in the Defining the business phase of the business planning process. 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. 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. True Financial forecasts should be based on historical data and new assumptions. 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? Monitor performance.