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A Level Business Studies - Business Objectives And Strategies > Forcasting And Decision Making > Flashcards

Flashcards in Forcasting And Decision Making Deck (4)
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1

Define business forecasting

Forecasting is using existing data to predict future trends

2

Name 2 ways of business forecasting

1. Delph technique
2. Brainstorming
3. Consumer opinions/expectations
4. Leading academic opinions
5. Frontline staff opinions

3

What is the Delph technique of forecasting

The Delph technique is getting a experts opinion

4

Who brainstorms to forecast

A team of experts