Answered Essay: Need answers for this dissusion questions 1. Why are the planning and forecasting

Need answers for this dissusion questions

1. Why are the planning and forecasting is important for the company growth and how forecasting helps companies for better planning?

2.How the models and their analysis helps for making better decision?

Expert Answer


Forecasting refers to the estimation of demand in the future for the organization’s product, industry growth and the trends and preferences among the people. It helps in planning work for the organization and the organization readies themselves regarding the forecasted demand and industrial developments. Under the planning, the company analyses the resource availability, skills required and capabilities of the organization. On the basis of these analysis, gaps are identified and the company works in time to fill up the gaps. It helps the organization to capitalize on new opportunities and answer the challenges. It is only possible through the forecasting and subsequent planning for the organization.
Forecasting provides:
A.   Estimation of future demand
B.   Changing consumers’ needs
C.   Industry growth and investment in the industry
D.   Direction of government policy initiatives
Above inputs help planning to:
1.   Make HR planning
2.   Build process capabilities
3.   Make organizational restructuring
4.   Create necessary changes in product design for the future

There are different models of forecasting. These models give qualitative information such as Delphi method, sales force survey method and experts’ opinion method. There are forecasting models that give quantitative information such as moving averages, regression analysis, trend analysis.
These models are used to complement the qualitative information with quantitative details ot make a better and accurate forecasting.
These models give information:
A.   About the industry trends
B.   Independent variables and factors that will affect the organizational performance
C.   Availability of resources
D.   Labor market scenarios
Above information helps the manager to take an informed decision regarding the future scope of work.

Buy Essay
Calculate your paper price
Pages (550 words)
Approximate price: -

Help Me Write My Essay - Reasons:

Best Online Essay Writing Service

We strive to give our customers the best online essay writing experience. We Make sure essays are submitted on time and all the instructions are followed.

Our Writers are Experienced and Professional

Our essay writing service is founded on professional writers who are on stand by to help you any time.

Free Revision Fo all Essays

Sometimes you may require our writers to add on a point to make your essay as customised as possible, we will give you unlimited times to do this. And we will do it for free.

Timely Essay(s)

We understand the frustrations that comes with late essays and our writers are extra careful to not violate this term. Our support team is always engauging our writers to help you have your essay ahead of time.

Customised Essays &100% Confidential

Our Online writing Service has zero torelance for plagiarised papers. We have plagiarism checking tool that generate plagiarism reports just to make sure you are satisfied.

24/7 Customer Support

Our agents are ready to help you around the clock. Please feel free to reach out and enquire about anything.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.


Let us write that nagging essay.


Submit Your Essay/Homework Instructions

By clicking on the "PLACE ORDER" button, tell us your requires. Be precise for an accurate customised essay. You may also upload any reading materials where applicable.


Pick A & Writer

Our ordering form will provide you with a list of writers and their feedbacks. At step 2, its time select a writer. Our online agents are on stand by to help you just in case.


Editing (OUR PART)

At this stage, our editor will go through your essay and make sure your writer did meet all the instructions.


Receive your Paper

After Editing, your paper will be sent to you via email.