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Forecasts should concentrate on projecting the continuation of past trends, rather than trying to predict changes...

Forecasts should concentrate on projecting the continuation of past trends, rather than trying to predict changes in corporate strategy.
True or False


please explain. thank you: )
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Answer #1

Answer,

False.

Reason.-Forcasting is the estimation of future based on the past. It usually consider the historical data for the reference and making new plans for the future. Simply we can say that past never repeat...past is always past. Always business are looking into new techniqes and new strategies.so we should predict the changes that will occure in the future.So all decision shuld be based on the strategic scenario.In forcasting companies should consider its macro and micro economic factors.Eg, Inflationary trend, mansoon,internatiional trend,Government changes,competition,change of taste and preferences,companies strategies and plans etc.So we can say that forcasting is not only concentrating on projecting the condinuation of the past trends but also trying to predict changes in corporate strategy.

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