T/F The process for developing a business plan starts before you establish the goals you would like to achieve for the shop's coming year. Correct Answer True
Who should provide direction for creating the business pla
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T/F The process for developing a business plan starts before you establish the goals you would like to achieve for the shop's coming year. Correct Answer True
Who should provide direction for creating the business plan at a golf operation Correct Answer Key Stakeholders
T/F Long range planning should initially assume an adversarial relationship between neighboring facilities that directly compete with each other Correct Answer True
T/F According to the Business Planning Model, a business plan should build on and refine the operational plan. Correct Answer False
What is the usual business destination for long-range planning Correct Answer 3-5 Years; Achieve its vision
What is the most significant benefit of strategic business planning Correct Answer provides a long term vision and destination
T/F Helping establish a starting point for goals, objectives, and related strategies is an appropriate use of SWOT Correct Answer True
T/F Financial forecasts should be based on historical data derived from a linear trend analysis Correct Answer 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 outside factors have been identified. What is the next step to be taken towards completing the plan. Correct Answer Monitor Performance
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 5 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? Correct Answer Current State of Business
T/F A vision defines the short term objectives that must be accomplished in the upcoming year Correct Answer False
T/F A facility profile defines the overall culture of the business Correct Answer True
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