Which decision type typically lasts for less than five years?

Short term decisions are typically focused on immediate objectives and are often implemented within a timeframe of less than five years. These types of decisions are crucial for day-to-day operations and allow businesses to respond quickly to changes in their environment or market conditions. They are generally more flexible and can be adapted easily to short-term goals, which contrast with long-term strategic or tactical decisions that require more extended planning and investment.

In contrast, strategic decisions are designed to steer the organization over a longer period, usually involving a timeframe of five years or more. Tactical decisions, while also important, usually bridge between strategic goals and operational activities, often occurring in a timeframe that exceeds a year but not reaching the long-term nature of strategic decisions. Operational decisions are often daily or routine in nature, focusing on the implementation of tactical plans and ensuring that short-term goals are met efficiently. Thus, the characteristic of lasting less than five years aligns specifically with short term decisions.