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Unformatted text preview: to factors such as technological innovation, cultural changes, new products, improved services, stronger competitors, shifts in government priorities, changing social values, unstable economic conditions, and unforeseen events. FORECASTING TOOLS AND TECHNIQUES A. Forecasts 3. Forecasting tools can be broadly categorized into two groups: quantitative techniques and qualitative techniques. a.Quantitative forecasts are most appropriate when historic data are available and when the relationships among key variables are expected to remain the same in the future. The three basic types of quantitative forecasting techniques are econometric models, regression, and trend extrapolation. b.Qualitative forecasts. The six basic qualitative approaches to forecasting are: (1) sales force estimates, (2) juries of executive opinions, (3) anticipatory surveys FORECASTING TOOLS AND TECHNIQUES B. Making Assumptions 1.By identifying future occurrences that could have a major effect on the firm and making reasonable assumptions about those factors, strategists can c...
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This document was uploaded on 02/19/2014.

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