Long-Term and Short-Term objectives requirement in company

Question

Why Long-Term and Short-Term objectives are require in company’s financial set?

Answer 1

A requirement for Both the Long-Term and Short-Term Objectives: As a law, a company’s set of financial and strategic objectives ought to contain both Long-Term and Short-Term performance targets. Targets of three to five years prompt deliberations of what to do now to place the company in position to execute better down the road. Short-range objectives can be indistinguishable to longer-range objectives if an organization is previously performing at the targeted long-term level. The most important condition in which short-range objectives are distinguishable from long-range objectives take places when managers are trying to raise organizational performance and can’t arrive at the long-range target in just one year.