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    Forecasting and decision making

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    Discuss the strategic importance of forecasting. What strategic decisions do organizations need to make in terms of forecasting? What are some examples?

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    Forecasting for example regarding Sales Forecast shows potential sales for the industry and the company's expected share of such sales. Sales forecasting involves a consideration of various factors which will lead to strategic decisions.

    (1) What are the general economic conditions?
    (2) What ...

    Solution Summary

    This solution is comprised of a detailed explanation of the importance of forecasting, what decisions organizations need to make in terms of forecasting, and gives examples.