Long Range Planning Horizon
The concept describes long range planning as being part of the long-term corporate planning cycle. It explains how perceptions of long range planning time frames have shifted over time and provides a balanced critique of the usefulness of this strategy and planning tool.
Technique Overview
Long Range Planning Horizon Definition
Long range planning is a part of corporate planning that clearly states the company’s objectives over a long-term period – this used to be about five years, but is now commonly around three years. The nature of the markets in which a company operates in will ultimately determine the planning time horizon. As a rule of thumb, there should be a market for the company’s products for long enough at least to amortise any new capital investment related to these products (McDonald & Wilson, 2011).
Long Range Planning Horizon Description *
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Business Evidence
Strengths, weaknesses and examples of Long Range Planning Horizon *
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Business Application
Implementation, success factors and measures of Long Range Planning Horizon *
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Professional Tools
Long Range Planning Horizon videos and downloads *
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Further Reading
Long Range Planning Horizon web and print resources *
Long Range Planning Horizon references (4 of up to 20) *
- Baghai, M., Coley, S. and White, D. (2000) The Alchemy of Growth, Perseus Publishing, New York.
- Breene, R. T. S., Nunes, P. F. and Shill, W. E. (2007) The Chief Strategy Officer, Harvard Business Review, October.
- CIMA (2005) CIMA Official Terminology, The Chartered Institute of Management Accountants, Oxford, UK.
- Daft, R. L. (2009) Organization Theory and Design, South Western Cengage, Mason, OH.
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