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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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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.

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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 ...

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