Why are long-range predictions considered essential to managing a firm?
A)To develop plans for possible new plants
B)To have raw materials available for future demand
C)To develop plans for future financing
D)All of these answers are correct

Question

Quizplus · Accepted Answer

Long-range predictions are essential for managing a firm to cover all aspects of the business, including plans for possible new plants, having raw materials available for future demand, and developing plans for future financing. Making accurate long-term forecasts helps in establishing a vision, setting goals, and determining the necessary strategies to achieve those objectives.

Why Are Long-Range Predictions Considered Essential to Managing a Firm