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the future needs in the markets and capitalized on his enterprise’s timing to satisfy those
demands and benefit from it.
Ensuring the sustainability of a business involves the forecasting of potential
developments in operations that include expenditures, revenue, and profitability.
The current
fluctuations and the changing trends in economic activities can yield profit margins for the well-
prepared organizations. Possessing the ability to anticipate changes in the economic trends and
environmental factors likely to affect a business helps in setting up measures or counter actions
that benefit an enterprise. Perfecting the art of predicting the future helps the managers in
adapting to the vibrant local, regional, and international markets. For example, the Coca-Cola
Company commits significant funds to analyze the potential market demands and take the
necessary steps to maximize potential benefits. The possibility of an economic boom leads to the
implementation of the necessary changes to exploit new markets and reap the benefits
.
The running of a business involves the estimation of future losses and profits in the short
and long term. The use of past and the present data to predict the future leads to possible
inaccuracies. Additionally, too short or too long durations of analysis leaves the business
vulnerable to extreme changes that result in adverse effects on the operations.
The management
should ensure that each forecast takes place within a considerable duration to avoid sudden
changes that result in devastation of operations. The ability to execute the predictions and
guarantee precision in all the estimates constitutes art. The success of the business will also be
Thomas Liquori. Microsoft Corporation (New York. TM583, 2011).
Jae Shim K., Strategic Business Forecasting (London: St. Lucie Press, 2000), 3.
Valluri Harini, Soman Nahata, Ankit Jangalwa and Gandharv Raj Sethi, “The Organizational Structure of Coca
Cola Company,” The Coca Cola Company. Access date, 24, September 2016.
http://www.scribd.com/doc/37483762/Organizational-Structure-of-The-Coca-Cola-Company
Jae Shim K., Strategic Business Forecasting (London: St. Lucie Press, 2000), 3
