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 [...]
After reading this article you will learn about:- 1. Meaning of Mission Statement of An Organization 2. Features of Mission Statement 3. Components. Meaning of Mission Statement: "A mission statement is a statement of the purpose of an organisation. The mission statement should guide the actions of the organisation, spell out its overall goal, provide a path and guide decision-making. [...]