Definition: Forecasting helps make informed decisions. It uses historical data to predict future trends. Unlike prediction, forecasting uses logic and has a structured approach. Therefore, the forecaster must articulate and defend logic using past and present data. Forecasting is the estimation of the magnitude of a future event based on assumptions—every business deals with uncertainty. …
NIKE Inc., an American multinational corporation, is a global footwear, equipment, and apparel manufacturer. It is one of the biggest sellers of athletic shoes and is present in over 170 countries. Conducting a SWOT analysis on Nike will help understand the business’ key performing areas and segments that need improvement. In addition, it will determine …
Project sponsors often get confused regarding continued funding of the project, while, in reality, the project’s objective is lost and is no longer relevant. For example, after spending over 75 million USD on the construction of the Shoreham Nuclear Plant, the company fell committed to funding, and the cost escalated to 5 billion USD, and …
Resources are limited, so businesses must make the right decision to use available resources. Furthermore, to define the basis of economic decision-making, it is crucial to consider a specific rate of return (ROR) so that its capital achieves a return on operations; we call this the cost of capital. A project’s internal rate of return …