Long Term View Flashcards, test questions and answers

Discover flashcards, test exam answers, and assignments to help you learn more about Long Term View and other subjects. Don’t miss the chance to use them for more effective college education. Use our database of questions and answers on Long Term View and get quick solutions for your test.

What is Long Term View?

The concept of a long-term view is a fundamental part of successful strategy and planning. A long-term view requires taking a step back from short-term, immediate concerns and focusing on the larger, more distant goals. It requires an understanding of the present environment, but also an awareness that the current situation will likely be different in the future. The long-term view is essential for creating plans with staying power, as it allows for flexibility in how to approach challenges and opportunities over time.When evaluating potential decisions or strategies from a longer term perspective, one must consider both external factors such as market conditions and customer preferences as well as internal resources such as financial capital and human capital. Doing so ensures that plans are crafted in accordance with larger organizational objectives while still taking into account any constraints or limitations posed by present circumstances. Additionally, this view necessitates considering the full scope of impacts – both intended and unintended – that any given action may have over multiple time frames. For example, when deciding whether to invest in new technology now or wait until later, it’s important to consider not just costs currently but also potential future benefits (or drawbacks) associated with waiting or acting more quickly.A long-term view can be particularly beneficial when making decisions around resource allocation – allocating funds between different areas of operations can be difficult without understanding what things might look like several years down the line – but its implications extend beyond budgeting considerations alone. This perspective is useful when evaluating personnel needs too; by understanding what skills may become more valuable over time (and therefore worth investing in) early on, organizations can ensure they have access to these capabilities when they are needed most. Similarly, longer term views provide insight into which products or services may become obsolete (or emerge as disruptive forces) sooner than expected allowing companies to shift focus accordingly before their competition does so first.