There are two significant benefits to the firm from developing long-term and short-term financial plans.What are they?

Question

Quizplus · Accepted Answer

The Answer is First, the firm has a base plan that is consistent with the firm's long-term goals and strategy.In other words, by preparing a plan the firm's management can align their day-to-day activities to support the overriding goals and objectives set by the firm's top executives.Second, as former US President Eisenhower pointed out so succinctly many years ago, it is the planning process as much as-or more than-the actual plan that helps the firm prepare for an uncertain future.

There Are Two Significant Benefits to the Firm from Developing