Answer:
Explanation:
Planning is a core and fundamental step which should be done before embarking in a process, business or task. It could be used to project a short or long term engagement or task.
The benefits of long term planning could include :
Business having a long term plan shows a proactive sense of approach, that is it shows that the business has a blue print, a target and a defined goal which is being laid down in sequence, this ensures that they will have very few chances of making rash decisions due to market fluctuation or growth as d they are less proned to having a reactive agenda.
Similarly, With a laid down long term plan, this shows that there is a guide, a path, a set and defined target which the company aims to achieve with patience and tact. Thus ensures that the business has a well defined direction.
Also, It improves efficiency, the fact that developments to be made at each point or time has long been defined, then there is a dequate preparedness towards such target which in turn improves.
Long term strategic planning will ultimately lead to company's growth and drive profit due to sustained existence in the market and well guided and structure long term planning , leading to increased popularity and revenue drive.
