What do the phases of long-term financial planning include?

The phases of long-term financial planning typically encompass a structured approach to ensure that financial resources are aligned with the organization's goals over an extended period. The correct answer highlights key phases that are critical in the financial planning process.

Mobilization involves gathering data, assembling a team, and preparing for the planning process. Analysis follows, which includes evaluating the current financial landscape, assessing needs, and considering potential risks and opportunities. This data-driven analysis informs the subsequent phase, Decision, where strategic choices are made regarding resource allocation and policy direction based on the insights gained. Execution is the final stage, where the decided plans are implemented, ensuring that resources are utilized effectively to achieve the set objectives.

This process is crucial for organizations to develop a comprehensive financial strategy that supports sustainable growth and helps in anticipating challenges and opportunities in the long run. The combination of these phases forms a comprehensive approach to long-term financial planning.