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Business strategy
Needs to forecast business changes
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[QUOTE="Augusta, post: 308616, member: 25283"] There's always a great need to forecast business changes to be steps against business issues in an attempt to resolving them The fact us that some businesses are always confronted with some kind of uncertainty as they created. So a business owner in this regard should always anticipate challenges and when realized should addressed them as quickly as possible. So theree high need to always forecast business changes as it comes with it's unique benefits which will help you with the following: Helps with fast decision making The most about forecasting in business is the liberty to take decisions as quickly as possible. You would not just take decision but an informed one. Know when to reduce or increase stock Another need is to have the knowledge on when to increase and decrease stock for your business to avoid wastage on stock or loss off business money When to procure updated software This is to know where the software in use are out dated and need to be updated. When you forcast changes you would realize the one to change or not When to make credit acquisition decisions Forecasting and seeing the future financial state of the business will help you to know when to get more credit for the business for financial backup. [/QUOTE]
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