as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the concept of forward planning.
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forward planning is a process of planning ahead for future needs and potential problems. it involves researching and analyzing potential issues, developing strategies to address them, and implementing actions to achieve desired outcomes. it helps organizations to anticipate and prepare for future changes, reduce costs and risks, and improve efficiencies.
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