Provide your senior managers with a summary as to why it is important for Formulae to have established short-term and long-term goals when establishing its management plan for the Guatemala and Mexico expansions. Please include the following:

Discuss the importance of long-term and short-term goals and why they are vital in setting direction for the company.

Provide your senior managers a summary describeing why it is important for Formulae to have short-term and long-term goals to deal with cultural barriers and diversity for the Guatemala and Mexico expansions.

Discuss the pitfalls if the company fails to plan short-term and long-term goals in advance and for a mechanism coping with the cultural barriers and diversity issues.

Can these goals be changed after the plan is developed? If so, what impacts could these changes have on the company?