Assignment:
Provide your senior managers with a summary as to why it is important for Formulae to have established short-term and long-term goals when establishing its management plan for the Guatemala and Mexico expansions. Please comprise the following:
Q1. Discuss the importance of long-term and short-term goals and why they are vital in setting direction for the company.
Q2. Provide your senior managers a summary explaining why it is important for Formulae to have short-term and long-term goals to deal with cultural barriers and diversity for the Guatemala and Mexico expansions.
Q3. Discuss the pitfalls if the company fails to plan short-term and long-term goals in advance and for a mechanism coping with the cultural barriers and diversity issues.
Q4. Can these goals be changed after the plan is developed? If so, what impacts could these changes have on the company?