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

Question

Quizplus · Accepted Answer

Long-range predictions are considered essential to manage a firm because they help in developing plans for possible new plants, having raw materials available for future demand, and developing plans for future financing. By having a clear picture of what might happen in the future, a company can make informed decisions and proactively prepare for challenges and opportunities.

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