Short-Range Planning

Short-range planning involves setting the guidelines for achieving the firm's objectives. Some short-range plans may be very broad, such as establishing a procedure manual to be followed by all departments in the firm. Operating rules, standard practices, and safety programs are other areas that require short-range planning. And every large firm has at least one short-range plan each year - its budget. Keeping within an approved budget is one measure of the efficiency of management in a department, a branch factory, or the entire organization.