FORECASTING BY ECONOMETRIC MODELS AS SUPPORT TO MANAGEMENT

Tinde Dobrodolac
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Tinde Dobrodolac: Faculty of Economics Subotica University of Novi Sad, Serbia

Perspectives of Innovation in Economics and Business (PIEB), 2011, vol. 7, issue 1, 72-76

Abstract: In the contemporary environment characterized by the dynamic structure of factors and the unpredictability of the relations existing between them, the central problem is the selection of strategic goals. Forecasting is the necessary precursor to the planning process and includes research into the future course of events. Numerous methods and techniques of forecasting are used nowadays. Econometric models can be used successfully for predicting the future development of a phenomenon, and thereby facilitate the choice of strategic goals.

Keywords: Forecasting; econometric models; management. (search for similar items in EconPapers)
JEL-codes: C10 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (8)

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