PGM Level 1 Facility Management Exam
:Facility Management 1
The process for developing a business plan starts before you establish the goals you would like to achieve for the shop's coming year. (T / F) (Ans- True-they first must fully understand where business is now before long term vision
Who should provide direction for creating the business plan at a golf operation?(Ans- PGA professionals
According to the Business Planning Model, a business plan should build on and refine the operational plan. (T / F) (Ans- True-usually updating or revisiting how business is defined
Long-range planning should initially assume an adversarial relationship between neighboring facilities that directly compete with each other. (T / F).(Ans- False
What is the usual business destination for long-range planning?(Ans- 3-5 year plans that identify a future "destination" for a business; includes long term goals and financial forecast to help business achieve its vision
What is the most significant benefit of strategic business planning?(Ans- gives the organization a competitive advantage and enables it to successfully meet its objective
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Helping establish a starting point for goals, objectives, and related strategies is an appropriate use of the SWOT analysis. (T / F) (Ans- True-swot helps determine facility strengths, weaknesses, opportunities, and threats...helps establish a starting point for new goals, objectives, and strategies
Financial forecasts should be based on historical data derived from a linear trend analysis. (T / F) (Ans- true
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?(Ans- Monitor Performance-(the final stage of business planning)
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?
(Ans- Define the business: facility's purpose and direction including core
values, vision and mission; foundation of the entire business planning process
A vision defines the short-term objectives that must be accomplished in the upcoming year. (T / F) (Ans- false- visions are long-range plans
A facility profile defines the overall culture of the business. (T / F) (Ans- True- facility is the business assets, target markets, and customers
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