This article throws light upon the three categories under which plans are classified in an organisation. The categories are: 1. The Time Dimension in Planning 2. The Use Dimension in Planning 3. The Scope or Breadth Dimension in Planning. Category # 1. Time Dimension in Planning: a. The Time Dimension in Planning: Time enters as an important variable in the [...]
This article throws light upon the four main types of forecasting that are related to external environment. The types are: 1. Economic Forecasting 2. Technological Forecasting 3. Forecasts Regarding Government Policies 4. Sales Forecasting. Type # 1. Economic Forecasting: It is done to forecast the general economic conditions, like boom or depression, upswing or downswing of the economy. Corresponding to [...]
After reading this article you will learn about:- 1. Meaning of Forecasting 2. Approaches to Forecasting 3. Benefits 4. Measures to Increase the Effectiveness 5. Process 6. Techniques. Contents: Meaning of Forecasting in an Organisation Approaches to Forecasting in an Organisation Benefits of Forecasting in an Organisation Measures to Increase the Effectiveness of Forecasting in an Organisation Process of Forecasting [...]