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why is forecasting so important to companies and how does it have an effect on financing
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∙ 15y ago
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Casual forecasting involves determining of factors that relate to the variable you are trying to forecast. These include multiple regression analysis with lagged variables, econometric modeling, leading indicator analysis, diffusion indexes, and other economic barometers.
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Macro forecasting is related to forecasting external forces that affect the firm. This is concerned with forecasting the markets and determining market demand, supplies and other external factors such as legal, cultural, economic and technological environmentsMicro forecasting is concerned with forecasting internal environments such as sales forecasts, market share and product life cycles. These can be described as factors which firm has control over or able to acquire information to forecast what will happen. For example, a company can check its sales records to forecast next months' sales
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Forecasting human resource demand is the process of estimating the future human resource requirement of right quality and right number. As discussed earlier, potential human resource requirement is to be estimated keeping in view the organization's plans over a given period of time. Analysis of employment trends; replacement needs of employees due to death, resignations, retirement termination; productivity of employees; growth and expansion of organization; absenteeism and labor turnover are the relevant factors for human resourced forecasting. Demand forecasting is affected by a number of external and internal factors.
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Project constraints are limiting factors that prevent the project from moving in a particular path.
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Explain various factors that play an important role in determining the personality of a?
Explain various factors that play an important role in determining the personality of a person?
Explain three factors that led to the introduction of a Management information system in an organisation in your country?
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