ABSTRACT
In Chapter 7 we considered techniques for financial planning on a long-term basis, but we also established in Chapter 6 that planning is effectively a continuous and integrated process. No business can sensibly make long-term plans without any consideration of their impact on the immediate future, and equally a company which concentrated exclusively on short-term objectives would be unlikely to achieve its long-term goals. The logical process is to establish a long-term corporate plan and then to develop, in a coordinated way, a short-term detailed operational plan.
