Final answer:
The statement that the business plan addresses only short-term decision making is False.
Step-by-step explanation:
The statement that the business plan addresses only short-term decision making is False. While the business plan does include short-term goals and objectives, it also outlines the long-term vision and strategies for the business. It helps provide a roadmap for the business's growth and success over an extended period of time, usually several years.
For example, a business plan may include long-term financial projections, marketing strategies to expand the business's reach, and plans for future product development. It also helps in attracting investors and securing funding for the business's long-term growth.
Therefore, a well-developed business plan addresses both short-term and long-term decision making, enabling the business to navigate and adapt to changing market conditions while working towards its long-term goals.