Long-Range Planning

Long-range planning involves decisions about the organization's over all purposes, objectives, and policies. Some business plans many require several years for completion - for example, the acquisition of desired raw material sources, or obtaining a certain increase in sales. Other areas that require long-range planning center on such things as which activities the firm should undertake, which production schedules should be adopted, expansion plans, financial arrangement for achieving objectives, opportunities which the firm is not now pursuing, resources needed to accomplish present or desired goals, marketing strategies, and evaluation of past decisions.