Why Are Long Range Predictions Considered Essential to Managing a fiRm

question 22

Multiple Choice

Why are long range predictions considered essential to managing a firm?

• A) To develop plans for possible new plants.
• B) To have raw materials available for future demand
• C) To develop plans for future financing.
• D) To have enough staff for future needs.
• E) To develop plans for possible new plants and future financing, to have raw materials available for future demands and to have enough staff for future needs.

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Definitions:

Children's Intelligence

The cognitive ability of children to learn, understand, and apply knowledge, which can vary widely among individuals.

Probabilistic Events

Events or outcomes that are unpredictable to a degree but can be measured in terms of probabilities or likelihoods.

Critical Thinking

The objective analysis and evaluation of an issue in order to form a judgment.

Desired Goal

An objective or outcome that an individual aims to achieve or reach.