MANAGEMENT

Detailed explanation-1: -Short-term planning looks at the characteristics of the company in the present and develops strategies for improving them. Examples are the skills of the employees and their attitudes. The condition of production equipment or product quality problems are also short-term concerns.

Detailed explanation-2: -What is short-term planning? Short-term planning is usually considered to take 12 months or less. Your daily, weekly, monthly, even quarterly and yearly goals – all can be filed under “short-term goals.” They are stepping stones that will help you to reach your big goal(s).

Detailed explanation-3: -What are the differences between short-and long-term planning? 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.

Detailed explanation-4: -Short-term business planning usually involves processes that show results within a year. Companies aim medium-term plans at results that take several years to achieve. Long-term plans include the overall goals of the company set four or five years in the future and usually are based on reaching the medium-term targets.

Detailed explanation-5: -Short term planning is also known as activity planning because it allocates resources for the day-to-day business development and management. It is detailed and specific.