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Saturday, August 1, 2020 | History

2 edition of Long-range profit planning. found in the catalog.

Long-range profit planning.

John D. Simmons

Long-range profit planning.

by John D. Simmons

  • 335 Want to read
  • 34 Currently reading

Published by National Association of Accountants in New York .
Written in English

    Subjects:
  • Industrial management

  • Edition Notes

    Statement[Prepared by John D. Simmons under the direction of Walter B. McFarland]
    SeriesNAA research report, no. 42, National Association of Accountants Research series ;, no. 42.
    Classifications
    LC ClassificationsHF5601 .N33 no. 42
    The Physical Object
    Pagination112 p.
    Number of Pages112
    ID Numbers
    Open LibraryOL5935493M
    LC Control Number65002404
    OCLC/WorldCa647261

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Long-range profit planning by John D. Simmons Download PDF EPUB FB2

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Additional Physical Format: Online version: Simmons, John D. Long-range profit planning. New York, National Association of Accountants, (OCoLC) The major difference between strategic planning and long-range planning is emphasis. Long-range planning generally means the development of a plan of action to accomplish a goal or set of goals over a period of several years.

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A long-range plan is a set of goals (usually five to ten) that outlines the path for the company's future. When the long-range plan is in place, a strategic plan should be developed to define the objectives and actions necessary to achieve the goals spelled out in the long-range plan.

The Mission and Vision Statements Serve as the Guide. Strategic planning concepts and the notion of long-range planning will continue to be integral parts of responsible management. But they may require a substantial rethinking if they are to remain relevant. For example, they will have to be applied more selectively, depending on such things as the industry, the nature of competition, and the.

Long-term financial planning is the process of aligning financial capacity with long-term service objectives. Financial planning uses forecasts to provide insight into future financial capacity so that strategies can be developed to achieve long-term sustainability in light of the government's service objectives and financial challenges.

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Long-range planning helps the business owner look beyond the current challenges that the business faces, and scan the business environment for what's coming next. Stay Ahead of Competitors One goal of planning is to turn current weaknesses into long-range strengths that help the company build a sustainable competitive advantage.

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Ideally, as staff and board engage in the process, they become committed to measurable goals, approve priorities for implementation, and also commit to revisiting the organization’s strategies on an ongoing basis as the organization's internal and external environments .