PGA PGM 3.0 Level 1 Test Exam 2023 Questions and Answers with 100% Complete and Verified solutions

The Process for developing a business plan starts before you establish the goals you would like to achieve for the shops coming year - CORRECT ANS True Who should provide direction for creating the business plan at a Golf Operation - CORRECT ANS Key Stakeholders According to the business planning Model, a business plan should build on and refine the operation plan - CORRECT ANS False Long - Range Planning should initially assume an adversarial relationship between neighboring facilities that directly compete with each other. - CORRECT ANS True What is the usual business destination for long range planning? - CORRECT ANS 3-5 years Achieve its vision what is the most significant benefit of strategic business Planning. - CORRECT ANS Provide a long term vision & Destination Helping Establish a starting point for goals, Objectives, and related strategies is an appropriate use of a SWOT analysis. - CORRECT ANS True You are in the process of completing a business plan for the golf shop. Initial forecast 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 ANS Monitor Performance A Golf Professional is purchasing a golf course. The business plan he presented to his banker included his history of operating 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 the loan application because of missing information. What important element is missing from the business plan? - CORRECT ANS Current state of the business The SWOT analysis would treat opportunities are threats as factors that usually can be controlled by the facility. - CORRECT ANS False The Result of a SWOT analysis could be sufficient justification for the abandonment of a core business function - CORRECT ANS True Staff evaluation are a relevant data source for a SWOT analysis - CORRECT ANS True How might revenues be affected at a nearby daily fee course if the local tire plant has major layoffs - CORRECT ANS Go Down (decrease) Lack of a mission statement is an example of a weakness that a SWOT analysis might disclose - CORRECT ANS True Trends in local consumer spending would be most useful for evaluating a core business function - CORRECT ANS True What should govern the decision to pursue an opportunity? - CORRECT ANS Finances - Barriers to entry - recourses - opportunity cost Goals, Objectives & strategies - CORRECT ANS