Considering the forecasting periods, the plans that are for the tenure of one to five years are classified as?
Question: Considering the forecasting periods, the plans that are for the tenure of one to five years are classified as?
Plans that are for the tenure of one to five years are classified as medium-term plans. These plans bridge the gap between short-term plans, which cover a period of up to one year, and long-term plans, which cover a period of more than five years. Medium-term plans are essential for organizations that need to anticipate future trends and make strategic decisions that require time to implement. These plans provide a roadmap for achieving the organization's objectives and help to allocate resources effectively. Examples of medium-term plans include annual budgets, marketing plans, and product development plans.
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