The Rationale and Scope of Long-Term Planning in Business

 Leo Sfikas is a former general manager of Currie Motors Auto Group in Chicago, Illinois. His responsibilities included overseeing the development of the company's marketing strategies, managing large inventories, building the company's reputation online, and inspecting all the processes at the facility. Leo Sfikas improved the business growth through strategic and long-term planning and has successfully mentored over 200 personnel on sales principles and industry practices.

Long-term planning is when the management of the business sets goals for the business to achieve in four or more years. Most goals set for this period are usually centered around solving long-term problems and achieving the final vision of the founder or owner of the business.

This kind of plan considers the current socio-political climate of the location of the business and how such a climate may affect the economy in the future, which may in turn affect the business's profitability. It also includes budgeting for large equipment and personal changes that the business would require to reach its full potential.

Businesses that do not plan for the long term often do not stay long in the market because long-term planning is key to sustainability and understanding how the market's needs change for the business to modify their product or service to reflect such changes.

Ford Urges Dealers to Invest in Electric Vehicles

 A skilled general manager with nearly four decades of managerial experience in the automobile industry, Leo Sfikas served as the general manager of Currie Motors Auto Group in Chicago, during which he was responsible for business growth and operations, as well as its strategic vision and long-term planning. One of Leo Sfikas’ notable accomplishments included leading Currie Motors Ford of Frankfurt to a No. 1 regional ranking in 2006.

Ford encourages its dealers to invest in upgrades that will enable them to sell electric vehicles (EVs) made by the automobile manufacturer. As of the time of announcement in April, Ford had rolled out three EVs - the 2022 Ford F-150 Lightning pickup, the e-Transit van, and the 2022 Mustang Mach-E crossover. Ford dealers are eligible for EV certification through the investments.

Ford dealers can choose to invest $500,000 or $1.2 million on upgrades via two programs. High-tier dealers must invest $900,000 upfront in exchange for a special “elite” EV certification that qualifies them to receive more EVs. Ford executives urge dealers to invest more than $1 million on upgrades to boost profit and reduce costs.

According to executives, the goal of the automobile company is to ensure that dealers remain an invaluable part of its supply chain. Ford's network of dealers includes nearly 3,000 entities.