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Strategic Planning Vs Long Range Planning

916 Words4 Pages

Nowadays, strategic planning had been popular among people. Many people have been talk about strategic planning rather than long range planning. As we know that strategic planning are more efficient than long range planning. There are the definitions of long range planning. Long range planning are the process where the leaders of an organization are determine what are the organization want in the certain time. Long range planning also known as the planning two or more years seems are unsatisfactory. Long range planning usually made in three or five years. Besides, it is used to establish the goal and objective. Then, it will seem that to describe what organization vision to accomplish. Furthermore, long range planning predict that the condition …show more content…

The mission statement articulates the organization purpose for existence. For example, a mission statement for a bike manufactures to offer the high qualities bike at a value price. A vision statement is more specific and states the changes that the company aspires that have been made. Another example, a vision statement bicycle produces are likely to become the largest bicycle manufacturer in demand in 2016. Based on the mission and vision statements, a top-down business in the form of long range planning business goals have been archived. Long range planning involves a building a goals by evaluating sales history and other operating data. Other than that, by using the predictive techniques in business planning helps leaders make predictions based on information that can be used in developing a long range planning. The internal data related about the company performances as well as the external data about the industry may be used to establish a long range strategic goals. Manage the company future lies in the middle of setting long range planning goals. This is a true strategic business planning. The long range planning involves assessing the company current market position, set goals for where to take the company in the future. Long range planning creating a strategy to move the company from where it is to where leaders want it to be in future. Long range planning helps business leaders to think differently about the direction of the company. It also provides motivation and insight into the type of performance required to meet business goals. For example, long range planning goals might be to increase revenue for a specific product by 20% within five years. The long range planning goal is to provide management direction and provide measurable targets workers who are used to measure performance

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