Question: What is one of the key differences between short - term and long - term business decisions? Short - term decisions focus on maximizing revenues,
What is one of the key differences between shortterm and longterm business decisions?
Shortterm decisions focus on maximizing revenues, while longterm decisions focus on minimizing costs.
Shortterm decisions require immediate action, while longterm decisions involve strategic planning.
Shortterm decisions are operational in nature and involve choosing between alternatives, while longterm decisions are strategic and involve large sums of money.
Shortterm decisions are reversible, while longterm decisions are irreversible.
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