What are the Long term and …

Short-term planning evaluates your progress in the present and creates an action plan to improve performance daily. However, long-term planning is a comprehensive framework that comprises of goals to be met within a four- to five-year period.

Here are two key differences between short-term and long-term planning:

1. Scope. Ideally, a short-term goal should tie into a long-term goal. However, daily adjustments are required to ensure that you're working efficiently to meet your goals and that operations are smooth. Thus, the scope of short-term planning may change daily compared to long-term planning, where their goals are finite after they're discussed with key employees.
    
2. Execution. The execution of short-term planning depends on current operations that can determine if an organization is completing projects. The execution of long-term planning is based on if short-term goals can be met. For example, if your long-term goal is to hire more 50 more staff members within the next four to five years, you can set short-term goals for which positions need to get filled quickly.