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:

Proximal Influences

Factors or elements that have a direct and immediate impact on an individual's behavior or attitudes.

Financial Stability

The condition of having a stable financial situation, where income consistently meets or exceeds expenses.

Social Cognitive Career Theory

A theory that focuses on how individuals' beliefs in their own capabilities affect their career paths, choices, and performance.

Barriers

Obstacles or impediments that hinder progress or prevent the achievement of a goal.