A. Contingency planning, or scenario planning, considers alternatives that enable the company to respond quickly and capably to future, external, generally unpredictable events.

B. Capital budgeting involves analyzing a proposed capital investment project to determine whether the investment will increase shareholder value.

C. Long-term (strategic) business plans define the corporate mission and address the long-term objectives of the organization.

D. Short-term business plans encompass tactics for achieving short-term objectives and operational elements that will contribute to the achievement of long-term strategic goals.