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This approach is very common, because most business entities (private companies,
government agencies or, for example, banks) set targets for themselves when
determining time.
World and Russian management use a method divided into goals ;
a)
long term.
b)
medium term.
c)
short term.
If we consider
long-term goals,
then we mean strategic financial planning for
1-5 years.
Medium-term goals
within the framework of current financial planning are set
for a period of no more than 1 year.
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