We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What Is Long Range Planning?

By Ken Black
Updated May 16, 2024
Our promise to you
SmartCapitalMind is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At SmartCapitalMind, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject-matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

Long range planning is looking beyond the immediate future to understand what market and other conditions may exist down the road. This plan includes more than just a statement of goals. For businesses, it may include identifying areas of expansion, new locations, and anticipating what competition may do over a long period of time. For governments, long range planning often includes developing a capital improvement plan for buildings and infrastructure, as well as zoning considerations. There is no set amount of time defining the difference between a long term plan and a short range plan, but planning over the long term generally takes place more than 12 months out.

Generally, for most businesses, anything beyond a normal operational budget could be considered a long-range plan. For example, while chain stores and restaurants may set money aside for new locations, that is considered to be long range planning because there is no specific project in mind, or the funding for a specific project may be set aside over a number of years. An operational budget usually lasts for a fiscal year, and includes things such as payroll, utilities, insurance and other expenses. Some businesses may even break down plans into short range, mid range, and long range goals.

For governments, a long range plan could include a number of different factors meant to move the community forward. One of the most concentrated areas for long range planning is in transportation, and will include planning for roads, municipal transit systems, and perhaps airport and seaport improvements. Replacing or renovating government buildings and recreational facilities also factor into a long range plan. Budgeting for these projects may take place over a period of many years.

Zoning is another common area where governments plan for the long term. Local governments, such as cities and counties, usually are in charge of zoning. In many cases, zoned areas may be designated for a certain purpose even if no development or little development has taken place in a particular area. Such development may not take place for many years, but represents a strategic plan for a local government to improve the quality of life for its residents, or to accommodate an expanding population.

Long range planning helps define where a business or government wishes to go and helps those entities prepare for change. It is common for long range plans to change several times before they are implemented. These plans are generally fluid enough to allow for those changes quickly and without too many negative effects. Once a project starts, or as funding for it nears completion, the concept moves from a long range plan to an operational, or short range plan.

SmartCapitalMind is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Link to Sources
Discussion Comments
SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.

SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.