Why Is Strategic Forecasting your most important planning tool?

All companies have goals and by definition must have a strategy, whether articulated or not to arrive at those goals.

Of course, those goals must be realistic, but often small businesses through a combination of naivete and inexperience set goals which are impossible to achieve. Even large companies set goals which prove impossible due to unexpected circumstances, political or economic factors, or sometimes by market disruptors.

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High Quality Forecasts, Luck Or Skill?

Forecasting is a top priority for all businesses in a time of uncertainty. The lack of good understanding of the business fundamentals adds unnecessary costs, can put reputation on the line and, in the worst case, even jeopardise a company’s future. One cannot fail to notice the little progress that has been made in the way that forecasts are prepared. Despite being consistently voted a top three priority by accountants, forecasting processes have not materially improved, with a lack of consistency and quality.

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