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The very objective of business forecasting is to be accurate as possible, so that planning of resources can be done in a very economical manner and therefore, propagate optimum utilization of resources. Business forecasting helps in establishing relationship among many variables, which go into manufacturing of the product. Each forecast situation must be analyzed independently along with forecasting method.
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Advantages and disadvantages of forecasting?
One advantage of business forecasting is that it offers the business with essential information that can be used for decision-making regarding the future of the organization. One disadvantage forecasting is not always accurate. A bad forecast may break an organization.
What is the similarities between gDP and GNP?
business,economic forecasting
Why have aims and objectives?
Without Aims and Objectives how do you know where your business is heading for the future. You need it achieve your aims of the business.
What are objectives of business ethics?
what are objective of business ethics
Why are business objectives important?
Business objectives is very important to a business because the business needs to create financial, operational, social and environmental goals to acheive. By setting objectives you know where the busines is heading and how its going to have a competitve advantage in the mass market.
What are the problems of business forecasting in Nigeria?
Discuss problems and solutions associated with business forecasting in Nigeria
What is business forecasting?
Business forecasting is basically an estimate of the future developments in a business or organization. This would include sales, expenditures, and profits.
What has the author John E Hanke written?
John E. Hanke has written: 'Fundamentals of business statistics' -- subject(s): Commercial statistics 'Pronosticos En Los Negocios' -- subject(s): OverDrive, Business, Nonfiction, Text Book 'Business forecasting' -- subject(s): Business forecasting 'Instructor's manual to accompany Business forecasting, 2nd ed' 'Instructor's manual to accompany Business forecasting' -- subject(s): Problems, exercises, Economic forecasting, Business forecasting 'Understanding business statistics' -- subject(s): Statistical methods, Industrial management
What has the author Joseph Moses Gillman written?
Joseph Moses Gillman has written: 'Business forecasting' -- subject(s): Business forecasting
What has the author Wilson J Holton written?
Wilson J. Holton has written: 'Business forecasting' -- subject(s): Business forecasting
What is the difference in business intelligence from sales forecasting?
Sales forecasting is using business intelligence to develop a strategy for budgets. Business intelligence is the data used to get the sales forecast.
Why are aims and objectives important to a business?
Aims and objectives are important to a business because it gives them a 'sense of direction'- in other words, it shows a business what its goals are and what the business wants to do. There are different types of objectives businesses have and range from corporate objectives that focus on what the business wants to achieve as a whole. Financial objectives that show a business what financial position a firm aims to be in. Other objectives include marketing objectives and HR objectives.
What has the author Elizabeth W Angle written?
Elizabeth W. Angle has written: 'Keys for business forecasting' -- subject(s): Business forecasting
What are the types of business objectives?
Financal objectives and social objectives.
Advantages and disadvantages of business forecasting?
One advantage of business forecasting is that it offers the business with essential information that can be used for decision-making regarding the future of the organization. One disadvantage forecasting is not always accurate. A bad forecast may break an organization.
What has the author Elmer C Bratt written?
Elmer C. Bratt has written: 'Business cycles and forecasting' -- subject(s): Business cycles, Economic conditions, Business forecasting
What has the author John A Saunders written?
John A. Saunders has written: 'Practical business forecasting' -- subject(s): Business forecasting 'Quest&answer Bk Nature'
