The Role of Forecasting in Entrepreneurial Decision-Making and Risk Management
Keywords:
forecasting, entrepreneurship, business planningAbstract
Forecasting is essential to entrepreneurship as it offers a framework for planning, allocating resources, and making strategic decisions,. The theoretical underpinnings, real-world applications, and analytical viewpoints of forecasting in entrepreneurial endeavors are examined in this research. It provides a comparative study of popular forecasting methods and emphasizes their suitability, advantages, and disadvantages for start-ups and expanding companies. The study highlights the importance of flexible, hybrid forecasting models that fit the dynamic character of entrepreneurial contexts by drawing on recent research and professional viewpoints.
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