Process for making informed predictions, management, Management Theories

Assignment Help:
Process for making informed predictions
Informed predictions are made by the help of strategic planning process and there are three steps to successfully make the informed predictions such as:
The first step discuss about the variables which is required and needed to identify by the people.
The second step is to focus on the market research and to conduct the market research and the third step complies to make the informed prediction is based on the knowledge, experience, judgment and is based on the findings and result of the research that has been conducted in the market place.
This would be clearer by giving a certain example such as: when the group of people planning to go for a long business trip then make informed predictions such as the types of clothes they will need in the visit whether formal, casual or informal, the type of food they will get, they will assume whether they will require winter clothes or summer clothes, if winter, then what will the quantity of clothes? They will also predict if they will require two businesses / corporate suit or three? They presume that what is required in meetings and they also assume and predict that what they require in those meetings and so on, this is the process of informed predictions.

Related Discussions:- Process for making informed predictions, management

STRATEGY IMPLIMENTATION, HOW AN ORGANISATION SHOULD UNDERTAKE STRATEGY IMPL...

HOW AN ORGANISATION SHOULD UNDERTAKE STRATEGY IMPLEMENTATION

Human resource management, 1.Should benching be a matter of concern at delt...

1.Should benching be a matter of concern at delta? 2.What are the risks involved in moving from a project-centric mode to a mix of projects and products?

Decisions making-benefit of hindsight , 1. Present a list of your 5 most im...

1. Present a list of your 5 most important decisions and why you view them as such. Give examples from the simulation periods 2. Are there any decisions that you made, that in

principles of management governing authority, Identify and explain four si...

Identify and explain four significant principles of management governing authority, responsibility and accountability relationships. What are some possible reasons and situations t

economic activity is rising or falling, What terms are used to define the ...

What terms are used to define the way a variable moves when economic activityis rising or falling? What terms are used to describe the timing cyclical changes ineconomic variables?

Managing Lean Project, Ask questYou have been given the task to organise th...

Ask questYou have been given the task to organise the FIFA 2018 World Cup football tournament As the project manager in charge of delivering such as an important world sporting eve

Macro store, an online supermarket that sells food and other daily necessar...

an online supermarket that sells food and other daily necessary in Malaysia such as Tesco and Giant. User can use this database to do grocery shopping online without going to the s

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd