Long Range Planning
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1. Why should a business visualize long range goals and create a long range plan, instead of simply working through one annual plan and budget at a time?
2.Will a business need to make important financial decisions or commitments today that have long range consequences?
3.How is a strategic planning different than long range planning?
4.What is SWOT?
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Solution Summary
This solution explains questions relating to long range planning. The sources used are also included in the solution.
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Step 1
A business should visualize long range goals and create a long range plan because these help develop strategies required to develop the company's strategies. Further, by visualizing long range goals and creating a long range plan, the business focuses on key issues required to achieve long range goals. By visualizing long range goals and creating a long range plan the company gets a sense of direction, purpose, and urgency. The long range goals and long range planning motivates the organization to deliver performance to achieve the required results.
Step 2
A businesses needs to make important ...
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