Stepping ahead with rolling forecast: Can Bangladesh look beyond?

Mahpara Nodee
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Mahpara Nodee: United International University, Dhaka, Bangladesh

Journal of Advances in Humanities and Social Sciences, 2016, vol. 2, issue 1, 36-43

Abstract: The primary rule for playing the business game anywhere in the world is that the players need to take risks and combat with the volatility surrounded. Bangladesh is no exception to that rule. To survive the unexpected storms the business environment may offer and to move forward, businesses now-a-days are bringing in new variations into the traditional management tools and techniques. A rolling forecast is one of those incorporated in the organizations alongside the traditional annual budget. As rolling forecast provides a skeptical look into a financial period that goes beyond a year and updates the forecast on a continuous basis, the chances of success in the predictions are increased. This paper analyzes the overall business scenario of Bangladesh as well as examines the existing literature of rolling forecasting. The possibilities business industries of Bangladesh might have to implement rolling forecasting are presented briefly. In addition, the paper tries to present a basic implementation process for rolling forecasting. However, applying new changes to a conventional method always breeds anxiety among the practitioners. Bangladesh, a yet to be developed economy, may face barriers and fierce challenges while it tries to implement rolling forecasting in the budget operations of the companies. As a result, an attempt is also made to formulate some recommendations by reviewing existing literature for the business organizations of Bangladesh.

Keywords: Rolling forecasting; Annual budget; Traditional budgeting; Business environment (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:apb:jahsss:2016:p:36-43

DOI: 10.20474/jahss-2.1.4

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