Formation of long-range plans for effective management in light of a venture's strengths and weaknesses is referred to as

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Long-range plans for effective management that take into consideration a venture's strengths and weaknesses are referred to as strategic planning. Dimensional planning typically refers to the use of different dimensions to analyze a situation, while tactical planning focuses on short-term actions to achieve specific objectives. Operational planning involves the day-to-day activities needed to achieve tactical goals.

Formation of Long-Range Plans for Effective Management in Light of a Venture's