Tell me about long term and short term

Question

Accepted Answer

Long term refers to a period of time that extends beyond one year, while short term refers to a period of time within one year.

Long term is typically associated with strategic planning and goals that require significant time and resources.
Short term is more focused on immediate actions and goals that can be achieved within a shorter timeframe.
Examples of long term goals include expanding market share, implementing new technologies, or acquiring another company.
Examples of short term goals include meeting monthly sales targets, reducing expenses, or launching a new product.
Long term planning involves forecasting, budgeting, and setting long term objectives.
Short term planning involves day-to-day operations, monitoring performance, and adjusting strategies as needed.

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