Management myopia refers to the situation when managers focus on short-term earnings and profits at the expense of their longer-term strategic obligations. A long-term strategy is a thorough plan for a company that outlines objectives for the future. You are defining and achieving goals as part of this process to accomplish a broad objective for the business.
The outcomes anticipated from following particular tactics are represented by long-term objectives. The steps that need to be done in order to achieve long-term goals are represented by strategies. obligations and plans should have a consistent time span, which is often between two and five years.
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