Forecasting the future business environment— The state of the art

The future business environment, from the standpoint of the Corporation, encompasses both internal and external factors. These factors are also interrelated; thus the task of forecasting needs to be undertaken having in mind a multitude of elements which may interact. The author argues that, given this complex environment; corporations should support the planning operation if it is to develop and if they are to benefit from it. This support includes being open to recommendations made, for without it a planning group cannot function and the forecasting element loses momentum.