The short-term plan or budget involves every part of the enterprise and is much more detailed than the long-term plan.

Question

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The short-term plan or budget is a detailed plan that covers all parts of the enterprise for a short period, typically one year or less. It includes specific goals, timelines, and resources needed to achieve those goals. In contrast, the long-term plan looks further into the future, typically 3 to 5 years, and is less detailed than the short-term plan.

The Short-Term Plan or Budget Involves Every Part of the Enterprise