Forecasting and Planning
As companies become increasingly global, responding rapidly to changing customer needs, technology innovations, and global competitors becomes increasingly important to a company’s success. Failure to react in a timely manner to changing environments can hurt a company’s short-term results and can even threaten its survival.
Using valid Internet sites, research a company that is competing in a global environment and has had to react to a changing environment.
Based on your research, respond to the following:
What techniques has the company been employing to monitor the changing business environment? How is the company trying to forecast how changes in the business environment will impact the company’s processes and products/services?
Evaluate the success of the company in reacting to an external change and analyze how this reaction impacted the company’s performance.