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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give three reasons why long-term planning is important for businesses.
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1. long-term planning allows businesses to anticipate events and prepare accordingly. knowing the future helps businesses gain a competitive edge and helps them be more efficient and effective.
2. long-term planning helps businesses allocate resources correctly and prioritize projects that are important for business growth.
3. long-term planning can help businesses stick to their core values and mission, so that they can stay focused on their objectives over time.
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