The Role of Forecasting in Business

Abstract

During recent years there has been a vast growth in the literature of and the study of the theory of the firm. Underlying the various different theories however is a generally acknowledged structure of a company having an objective(s) towards which it strives by laying down and implementing plans. Planning involves making decisions which will have their effects and outcomes in the future and so an estimate of this future is required. This assessment of the future is termed forecasting and it is a vital ingredient in any planning process.

Citation

Firth, M. (1975), "The Role of Forecasting in Business", Managerial Finance, Vol. 1 No. 2, pp. 97-108. https://doi.org/10.1108/eb013348