Long-range planning is a strategic management tool that allows managers to think about and plan for the future. It involves creating a plan that covers a period of more than one year and typically five to ten years. Long-range planning aims to create a roadmap to help an organization achieve its goals and objectives over the long term. To do this, managers must assess the organization's current situation, including its strengths and weaknesses and its opportunities and threats. They will then need to create a strategy that outlines how the organization can capitalize on its strengths, address its shortcomings, take advantage of opportunities, and deal with threats.