Operating plans sketch out broad approaches for realization of the firm's strategic vision.These plans usually are developed for a period no longer than a 1-year time horizon because detail is "lost" by extending out the time horizon by more than 1 year.

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Operating plans are usually developed for a time horizon of 1-5 years with detailed action steps and objectives to support the overall strategic vision of the firm. It is strategic plans that are typically developed with a longer time horizon, typically 3-5 years.

Operating Plans Sketch Out Broad Approaches for Realization of the Firm's