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
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Types of Forecasting in Management That Are Related to External Environment
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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
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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, […]