BUISENESS MANAGEMENT
BUSINESS PLANNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Goals to increase profits
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Goals related to the expansion of the business
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Goals that focus on giving back to the community
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All of the above
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Detailed explanation-1: -Before that, let’s go over a few examples of long-term goals: Career goals: “Build a profitable business”, “Turn your passion into a career.” Academic goals: “Get a Bachelor’s degree”, “Get a Master’s degree abroad.” Personal development goals: “Learn a foreign language”, “Travel on all 7 continents.”
Detailed explanation-2: -For example, you could make a long-term strategy to increase overall customer service, which is a relatively broad goal. A more specific goal would be to increase five-star customer reviews by 25% over the course of a year and a half. Some more examples of long-term strategies may include: Increase brand awareness.
Detailed explanation-3: -A long-term plan is also known as a progressive plan.
Detailed explanation-4: -Long term planning is 5 to 15 years. A long-term planning is about setting a process by which a particular strategic plan will be achieved. This process focuses on activities that start now and continue well into the future.