It helps the company by translating the strategic plans into specific plans or actions carried out by the middle level of management.

It involves day-to-day operations carried out by the lower-level management.

It sets the company’s direction.

It describes what a company wants to become.

It is about setting the goals of the organization and identifying ways on how to achieve them.

It is the process of deciding how an organization can accomplish its financial goals and objectives.

It is a plan designed to take a possible future event or circumstance into account.

It provides road maps for guiding, coordinating, and controlling the firm’s actions to achieve its objectives.

These goals can be achieved between 1-3 years.