What role does forecasting play in the strategic planning process?
Strategic planning entails the laying of approaches a business ought to employ in its operations within a given period to enable it to achieve its set objectives within a given period. Forecasting entails the predictions made in the business within a given period for the nature of developments and growth to be obtained within a given period.
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fromChapter 15 / Lesson 1
Forecasting in business involves making assumptions about future events and planning for the results. Explore the strategic role, components, and types of forecasting including qualitative and quantitative forecasts.