In industries with high levels of uncertainty, how can managers set meaningful long-term goals without being overly rigid in their planning?

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
icon
Related questions
Question

In industries with high levels of uncertainty, how can managers set meaningful long-term goals without being overly rigid in their planning?

 

Expert Solution
Step 1: Define what are long-term goals

Long- term goals are specific, overarching  objects that an individual, association, or  reality sets to achieve over an extended period of time, generally spanning several months to several times. These  pretensions  give a clear direction and purpose for  unborn conduct and opinions. Long- term goals are  generally more significant and encompassing than short- term goals, and they  frequently serve as a roadmap for an individual or association's growth, development, and success. They can cover  colorful aspects of life or business, including  particular development, career advancement,  fiscal stability, strategic planning, and achieving substantial milestones. 

steps

Step by step

Solved in 3 steps

Blurred answer
Recommended textbooks for you
Understanding Business
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON