After reading this article you will learn about:- 1. Meaning of Forecasting 2. Approaches to Forecasting 3. Benefits 4. Measures to Increase the Effectiveness 5. Process 6. Techniques. Contents: Meaning of Forecasting in an Organisation Approaches to Forecasting in an Organisation Benefits of Forecasting in an Organisation Measures to Increase the Effectiveness of Forecasting in […]
Forecasting: Meaning, Approaches and Techniques | Organisation
Types of Forecasting in Management That Are Related to External Environment
This article throws light upon the four main types of forecasting that are related to external environment. The types are: 1. Economic Forecasting 2. Technological Forecasting 3. Forecasts Regarding Government Policies 4. Sales Forecasting. Type # 1. Economic Forecasting: It is done to forecast the general economic conditions, like boom or depression, upswing or downswing […]
Forecasting: Elements, Techniques and Advantages
After reading this article you will learn about:- 1. Meaning of Forecasting 2. Features of Forecasting 3. Elements 4. Techniques 5. Advantages 6. Limitations. Meaning of Forecasting: Since planning is “a systematic economic and rational way of making decisions today that will affect tomorrow”, then forecasting becomes an integral part of the planning process, specially, […]