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How to Forecast: A Guide for Business
Forecasting is an essential discipline in the planning and running of a business: not only for the business plan and annual budget but 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...
Forecasting is an essential discipline in the planning and running of a business: not only for the business plan and annual budget but 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. This book provides a practical guide to forecasting the environment in which a firm operates. James Morrell, with 45 years of experience as a forecaster to draw on, goes through the key areas which can affect a business. He includes those which are out of the firm's control such as fiscal and monetary policy, population levels and the labour market; and those under the firm's control such as costs, prices, profits and product development. By understanding the issues surrounding these varied subjects any manager should be able to better analyse the data he or she is given and construct practical and useful forecasts from them. Forecasting is an art as well as a science - this book aims to unlock its secrets.
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