Forecasts, budgets, and goals: is there a difference?

Article Abstract:

Companies should recognize that budgets, goals and operational forecasts need not always be equal. If all three stay consistent with each other, these planning numbers will not truly reflect business conditions and lead to inappropriate business decisions. Companies should learn to think about budgets, goals and forecasts as distinct sets of numbers while examining the relationship among them. If discrepancies appear, companies should simply deal with the conflict realistically.

Forecasting, Operational Budgeting, Management, Business budgets, Goal setting

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New developments in business forecasting: how about collaborative forecasting?

Article Abstract:

Issues concerning collaborative forecasting are discussed. Collaborative forecasting techniques are most effective in dynamic demand environments.

Financial Forecasting, Methods

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