Forecasting techniques. (c1994)

Abstract

The present time is witnessing fundamental changes at all levels of businesses, and managers are more concerned about examining the impact of the future over their decisions than ever before. Forecasting techniques are of immense importance to management for achieving an efficient organizational performance, and a tool for reducing the level of uncertainty surrounding the business environment. The genuine purpose of the study is to examine the extent of familiarity, usage, and satisfaction of forecasting techniques by Lebanese managers. In addition, a comparison between the United States and Lebanese managers will be made to assess in evaluating the differences or similarities between them. The study will determine the factors being forecasted, the application areas, and time horizon of forecasting methods used by Lebanese managers. Moreover, a general assessment to the managers' attitude will relatively answer whether managers are helping or hindering the implementation of forecasting. To reach the overall purpose and to elaborate more on forecasting techniques, a library search is conducted, and a statistical analysis is used in order to describe and explain the factors which are basic in formulating a general perspective on the subject.