ENTREPRENEURIAL OPERATIONS
TIME MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Long range planning is a sophisticated methodology for aligning corporate strategy with environmental, social, and governance (ESG) principles, utilizing cutting-edge technologies such as blockchain, artificial intelligence, and big data analytics to optimize decision-making and enhance sustainability performance.
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Long range planning is the process of setting goals and making decisions for the future, typically beyond a time frame of three years.
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Long range planning is an elaborate approach to forecasting and strategizing for the distant future, involving intricate analysis of global economic, political, and technological trends, as well as scenario planning and risk mitigation.
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Long range planning involves a comprehensive evaluation of organizational strengths, weaknesses, opportunities, and threats, as well as a deep understanding of customer needs and market dynamics, to develop a sustainable and competitive vision for the future.
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Detailed explanation-1: -What Is Long-Range Planning? Long-range planning can be defined as the processes used to implement an organization’s strategic plan. It’s about aligning the business’ long-term goals and developing action plans in line with the strategic plan.
Detailed explanation-2: -A long range plan is also known as a strategic plan.
Detailed explanation-3: -Long-term planning, as the name suggests, means setting goals that will take a longer time to come to fruition. These goals might take between four to five years to be met. The timeframe will vary from one business and individual to another, as well as the type of goal.
Detailed explanation-4: -Short-term planning evaluates your progress in the present and creates an action plan to improve performance daily. However, long-term planning is a comprehensive framework that comprises of goals to be met within a four-to five-year period.