PGA 3.0 level 2 Business Planning

2.Who should provide direction for creating the business plan at a golf operation?

" During this phase, Key Stakeholders us used to establish the facilitys purpose and direction, including its core values, vision jand mission. "

17.From what distance do most facilities draw their prospective customer base?

"Most facilities draw the majority of their prospective customers from about a 20-mile radius of the surrounding area."

12.What does a facility profile define?

A facility profile is based on a set of descriptive data about the facility type, geographic locale, customers, competitors, golf trends, economic conditions, play value, and related amenities. A fundamental step in the business planning process involves understanding how the profile affects financial results.

7.What should a financial forecast be based on?

A finacial forecast should be based on projections of revenue, expenses, and net income.

10.What does a vision include or define?

A goal of the highest order and helps define what a business will ultimatlely accomplish.

22.What is the purpose of a facility's Mission statement?

A mission statement is a brief statement of a facility's purpose. It is a "why we exist" statement. It defines the business's purpose, not the business's vision or underlying financial model. Ideally, a mission statement should guide all business dections and actions of a facility.

24.What are the key elements of an effective mission statement?

A successful mission statement identifies key elements of the business such as image, the quality of customer serive, and the critical role of employees and their relationships to customers and the business, as well as factors that ultimately determine the facility's success and prosperity.

15. What is used to identify the most frequent customers who generate the most revenue?

A yield analysis identifies the most frequent customers, the customers that generate the most revenue, and markets of new potential customers.

6.What is an appropriate use of the SWOT analysis?

An appropriate use of the SWOT would be when you are assessing the current state of the busniess. The SWOT analysis can lead you to quantitative and qualitative date that can be used to help run a more successful and effient golf facility.

3.According to the Business Planning Model, what should build on and refine the long-term strategic plan?

Core values, vision, misison, direction and key stakeholders should build on and refine long term stratic planning.

13.What data needs to be considered when compiling the information for the facility profile?

Course architect, number of holes, yardage, type of course, course ownership, course access, fee structure including greens fees, initiation dues, amenities at the facility aside from golf, and a description of the physical plant.

18.What are other businesses called that work to attract the market that chooses to spend its recreation money on playing golf or purchasing golf-related products and services?

Direct competition

21.What are facilities more resistant to if they forge mutually beneficial collaborations?

Facilities that have forged mutually beneficial collaborations with their competitors (both direct and indirect) are also more resistant to market downturns and changing trends.

19.Who is any other organization that meets a customer's needs with a different service?

Indirect Competition

11.A best-case projection is a justifiable starting point for developing "blue sky" scenarios for a strategic vision must be tempered by what?

Reality.

4.What is the usual business destination for long-range planning?

The Usual business destination for long range planning is 3-5 years down the line. Identifying and goals and objectives for the short and long term performances.

9.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?

The important element this is missing is assessing the current stae of the business.

5. What is the most significant benefit of strategic business planning?

The most signifigant advantage of business planning is that It provides a long term vision and destination and does not just focues on the current state of the business.

8.The Head Professional is 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?

The next step the golf professional should take would be to develop business objectives he wants to achieve for the shop then he would monitor the performance of the shop based on the goals and preparation he has put in.

1. When should the process for developing a business plan start

The process for should start by defining the busines, and creating goals.

23.What is the purpose of a mission statement?

To help set the stage for integrating the vision and core values of the organization seamlessly, and serves as a touchstone for all future planning decisions, including business planning objectives, financial forecasts, and customer service goals.