What is specified as less than one year in terms of business planning?

In business planning, short-term goals are defined as objectives that are to be achieved within a relatively brief timeframe, typically within one year. These goals focus on immediate outcomes and are essential for guiding day-to-day operations and ensuring that the organization is moving towards its larger strategic vision.

By setting short-term goals, businesses can allocate resources effectively, prioritize tasks, and measure performance on a more frequent basis. This helps in making timely adjustments to strategies and operations based on current market conditions or organizational needs. These goals serve as stepping stones towards achieving long-term objectives, allowing teams to maintain momentum and focus on immediate priorities.

On the other hand, long-term goals extend beyond a year and often focus on broader outcomes, while operational goals can encompass both short-term and long-term objectives related to the functioning of the business. Strategic goals, similar to long-term goals, are generally set with a longer horizon in mind, often relating to overall direction and vision for the organization.