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Benefits and Limitations On Environmental Forecasting: A Seminar Topic On

This document summarizes a seminar topic on the benefits and limitations of environmental forecasting. The benefits include making organizations aware of the environment-organization linkage, identifying threats and opportunities, understanding industry transformations, and contributing to risk identification and strategy formulation. However, environmental forecasting also has limitations, such as subjective opinions influencing forecasts and uncertainties in selecting predictive variables and models.

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96 views5 pages

Benefits and Limitations On Environmental Forecasting: A Seminar Topic On

This document summarizes a seminar topic on the benefits and limitations of environmental forecasting. The benefits include making organizations aware of the environment-organization linkage, identifying threats and opportunities, understanding industry transformations, and contributing to risk identification and strategy formulation. However, environmental forecasting also has limitations, such as subjective opinions influencing forecasts and uncertainties in selecting predictive variables and models.

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Suman
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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A SEMINAR TOPIC ON

BENEFITS AND LIMITATIONS ON


ENVIRONMENTAL FORECASTING

Presented by
BOMMOJU RASHMITHA
21564C3036
I M.Com I SEMESTER(FA)
UCCBM, KAKATIYA UNIVERSITY
BENEFITS/IMPORTANCE OF ENVIRONMENTAL ANALYSIS
• Environmental analysis has several benefits like those mentioned below.
• 1. The very idea of environmental analysis makes one aware of the
environment-organisation linkage.
• 2. A corollary of the above is that environmental analysis helps an
organisation to identify the present and future threats and opportunities.
• 3. Environmental analysis will provide a necessary and very useful picture
of the important factors which influence the business.
• 4. Environmental analysis helps to understand the transformation of the
industry environment.
• 5. Technological forecasting will indicate some of the future
opportunities and challenges.
• 6. A very important benefit of environmental analysis is its contribution
to identification of risks.
• 7. Environmental analysis is a prerequisite for formulation of right
strategies – corporate, business and functional.
• 8. Environmental monitoring helps suitable modifications of the
strategies as and when required.
• 9. Environmental analysis keeps the managers informed, alert, and
often dynamic.
• LIMITATIONS OF ENVIRONMENTAL FORECASTING
• Environmental forecasting has several limitations. Some of the
limitations arise from the
• forecasting techniques used.
• 1. The selection of the variables included in the predictive model,
• 2. The selection of the functional form for linking these predictor
variables to the variable(s) being predicted and
• 3. The estimation of the ‘correct’ values for the predictor variables.
• Several techniques use opinions of people and they may be affected by
subjectivity.
THANK YOU

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