How Well Can You Predict the Future?
Everyone in business seems to be having extreme difficulty in accurately forecasting in today’s economic turmoil. A recent issue of INC. magazine featured an article titled “Forecasting in a Crazy, Mixed-up World” (April 2009, pp. 19-20).
Readers answered the question, “What is the hardest part of owning a business right now?” The number one response was “It’s impossible to forecast accurately.” Unfortunately, this is true for owners and senior managers no matter what the size of their organization.
It is particularly true for those of you who are preparing for the annual budgeting ritual. At most companies, Financial Planning and Analysis managers are busy developing their upcoming planning points and guidelines. more






