What does the PGA Business Planning Model include?

The PGA Business Planning Model is designed to encompass a comprehensive approach to both short-term and long-term planning, but it specifically emphasizes processes associated with long-term strategic planning. This involves setting the overall direction for the business, analyzing market trends, understanding competitive dynamics, and determining the necessary resources and actions to achieve desired goals over an extended period. Long-term strategic planning is critical for ensuring sustainability and growth in a highly competitive environment, guiding businesses in making informed decisions that align with their vision and objectives.

The other options do not reflect the comprehensive nature of the PGA Business Planning Model. Focusing only on short-term strategies neglects the longer-term vision and planning that are essential for sustained success. Concentrating solely on daily operations could limit a business’s potential for growth and adaptation in changing markets. Relying on simple financial statements would not provide the depth of analysis required for effective strategic planning, as these statements alone cannot capture the full picture of a business's health and future prospects.