Why Are Long Range Predictions Considered Essential to Managing a Firm

question 106

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) All of the above

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Definitions:

Progress Report

A document detailing the developments, achievements, or setbacks of a project or activity over a certain period.

Project Plan

A formal document designed to guide the control and execution of a project.

Motivate

The act of providing reasons or incentives for someone to act in a desired way.

Formal Report

A highly detailed and comprehensive report on an ongoing project or a completed project, often coauthored by several writers.