Final answer:
Plans that cover three years or more are called long-range plans. These plans are strategic, focusing on achieving long-term objectives, and require stability and a vision that spans several years, unlike short-term or operational plans.
Step-by-step explanation:
Plans that usually cover three years or more are called long-range plans. Long-range plans are designed to outline a company's or an organization's goals and the action plan to achieve them over an extended period. This type of planning considers the broader vision of the organization and is not as affected by day-to-day operations, unlike operational or short-range plans.
Historical examples of long-range planning include the Five-Year Plans of the Soviet Union, which aimed to transform the country's industrial and agricultural systems. While executed under a different political and economic system, they also exemplify how long-range plans aim for significant, substantial change over a set period. Such planning requires stability and commitment to long-term objectives, contrasting with shorter-term planning which tends to be more flexible and reactive to immediate needs.