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Short term planning involves deciding what your goals are for the short term (usually within the next year). These short term goals may include restructuring, hiring or short term profit targets.

Long Term Planning may involve an outlook for the future (in the next 5 to 10 years). This may involve a capital funding goal or company expansion goals.

Then a plan is made to cover all aspects that need to be taken care of in order to accomplish these goals.

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