The Role of the Forecast in the Company’s Management

Raluca Podasca ()
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Raluca Podasca: Petroleum-Gas University of Ploiesti

Ovidius University Annals, Economic Sciences Series, 2015, vol. XV, issue 2, 341-348

Abstract: The changes occurring in various areas of society caused a permanent research for the specialists in various fields in order to anticipate economic phenomena. Economic forecast has a fundamental role in the decision making process, primarily by reducing risk. Knowing the relative future is a modality that the company is ready to face the unexpected. Using forecasts, any manager can anticipate the future of the company, is able to appreciate the consequences of technological evolution determining methods of organizing to meet market demands. For both the manager and the company, the forecast is a necessity. The quality of the forecast determines the profitability, the economic and social growth, the entire process of renewal and changes that are required throughout the company’s activity. In the last decades, there were noted important advances in the forecast activity, especially in the management process.

Keywords: company’s management; extrapolation; forecasting methods; time series (search for similar items in EconPapers)
JEL-codes: C53 M10 (search for similar items in EconPapers)
Date: 2015
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