Critically analyze the importance of the factors that managers must Essay

Critically analyze the importance of the factors that managers must consider in - Essay ExampleIn todays business contexts, organizations and their environments are becoming more entangled and changes occur rapidly and therefore managers are to consider all marketing related factors and its critical entailment to the forecasting as well.A good forecasting must be consistent with other split of the business (Keat and Young, 2009, p 143). For example, when a manger forecast 25 % increase in sales, it must date that there are sufficient facilities, labor forces and raw materials to meet this target. The demand forecast must be based on past knowledge because forecasting is a process of foreseeing the future from the past performances. nevertheless though in certain cases past results are not so important as in the case of new product development, past knowledge contribute much to the successful demand forecasting ((Keat and Young, 2009, p 143). A manager conducting forecast must b e able to consider the economic and policy-making environment and the probable changes because the these factors can cause major changes in the way the business is to be carried out. An useful forecast must be timely as well because if the results are too late, the managerial act also will be late that will lead to business failure (Keat and Young, 2009, p