Establishing long term goals is crucial for several reasons:
Direction and Focus: They provide a clear direction for the company and help in maintaining focus on what truly matters. Resource Allocation: They enable effective allocation of resources, ensuring investments are made in areas that contribute to achieving these goals. Performance Measurement: They serve as benchmarks for measuring performance and progress over time. Employee Motivation: They help in motivating employees by giving them a sense of purpose and a clear understanding of the company's future.