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Sir what is the meaning of
Establishing strategic options
And
Establishing long term objectivesAnd
Why can’t the above be the purposes of budget ?And secondly why can’t scenario planning be a short term or medium term element
Budgets are normally detailed plans for the coming year, whereas deciding on the strategy and the long-term objectives are long-term planning.
Scenario planning is tied in with the strategic planning.
Dear sir could you please give an example as to why
Scenario planning is tied in with the strategic planning.
If you are a car maker currently only making petrol cars, then if you think that the scenario in 10 years time will be that customers will only want electric cars you will develop a strategic plan to change to only making electric cars.
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