Citation
(2002), "How to Forecast: a Guide for Business", Work Study, Vol. 51 No. 3. https://doi.org/10.1108/ws.2002.07951cae.005
Publisher
:Emerald Group Publishing Limited
Copyright © 2002, MCB UP Limited
How to Forecast: a Guide for Business
How to Forecast: a Guide for Business
James MorrellGowerISBN : 0 566 083639£49.50
Forecasting is essential in the running of a business: not only for the business plan and annual budget, but also for the appraisal of investment projects, the commissioning of research as well as the appraisal of the competition and the feasibility of making acquisitions. Managers are continually confronted with the need to take decisions, and being able to construct a route map of the future is a key way of determining a course of action. The first steps are to identify the components and levels of the environment that are key to success – and therefore must be predicted. This may depend on the industry or the nature of the product range or services offered. The next steps are to work within the organisation on a model of the business and the ways in which it reacts to changes in the forecast environment. This can be used as the basis of effective planning. This book addresses both of these areas – it is a practical guide to forecasting the environment in which a firm operates and the reactions of the organisation to changes in that environment.