Mba 1 me u 1.3 demand forecasting
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The document discusses key features of companies including:
1) A company is an association of people who come together with a common goal and have separate legal identity from its members.
2) A company's liability is limited to the shares owned by its members whose liability is limited to the amount unpaid on shares held.
3) Ownership and management are separated with shareholders electing directors to manage the company on their behalf.
4) A company has a perpetual existence that continues regardless of changes in ownership.
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The slides discusses the corporation as a business organization under the Philippine laws. It includes some general provisions until its dissolution
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The document discusses different types of business organizations including sole proprietorships, partnerships, and corporations. It provides details on their ownership structure, capitalization requirements, management, profit distribution, reporting requirements, taxation, and liabilities. Key differences are highlighted such as sole proprietors having unlimited liability while corporations provide limited liability for stockholders. The formation process and required documents for corporations are also summarized.
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This document provides an overview of sole proprietorships and partnerships as forms of business organization. It defines a sole proprietorship as a business owned and managed by a single individual who receives all profits and bears all risks. Key advantages are simple structure, full control and no regulations, while disadvantages are unlimited liability and limited life span. A partnership is formed by two or more individuals who share profits and liability. Key features discussed are sharing of profits, unlimited liability of partners, voluntary registration, and continuity of business being affected by death of a partner.
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This document discusses various forms of business organizations including sole proprietorship, partnership, cooperative society, and joint stock companies. It provides details on the key features, advantages, and limitations of each organizational form. Joint stock companies are further divided into private and public companies. The document also covers topics such as types of shares, types of share capital, prospectus, balance sheet, and regulations governing business organizations.
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The document discusses key features of companies including:
1) A company is an association of people who come together with a common goal and have separate legal identity from its members.
2) A company's liability is limited to the shares owned by its members whose liability is limited to the amount unpaid on shares held.
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The slides discusses the corporation as a business organization under the Philippine laws. It includes some general provisions until its dissolution
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The document discusses different types of business organizations including sole proprietorships, partnerships, and corporations. It provides details on their ownership structure, capitalization requirements, management, profit distribution, reporting requirements, taxation, and liabilities. Key differences are highlighted such as sole proprietors having unlimited liability while corporations provide limited liability for stockholders. The formation process and required documents for corporations are also summarized.
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This document provides an overview of sole proprietorships and partnerships as forms of business organization. It defines a sole proprietorship as a business owned and managed by a single individual who receives all profits and bears all risks. Key advantages are simple structure, full control and no regulations, while disadvantages are unlimited liability and limited life span. A partnership is formed by two or more individuals who share profits and liability. Key features discussed are sharing of profits, unlimited liability of partners, voluntary registration, and continuity of business being affected by death of a partner.
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The document discusses different forms of business organization: sole proprietorship, partnership, corporation, and cooperative. It provides statements to determine whether each one is true or false. A sole proprietorship is owned and managed by one person and ends upon the owner's death. A partnership shares profits among partners based on agreement but partners are liable for each other's actions. A corporation is more complicated to set up but can raise funds through stock sales and exist longer than 50 years. Cooperatives achieve members' social and economic needs through resource sharing and require member participation.
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The document discusses different forms of business organization: sole proprietorship, partnership, corporation, and cooperative. It provides statements to determine whether each one is true or false. A sole proprietorship is owned and managed by one person and ends upon the owner's death. A partnership shares profits among partners based on agreement but partners are liable for each other's actions. A corporation is more complicated to set up but can raise funds through stock sales and exist longer than 50 years. Cooperatives achieve members' social and economic needs through resource sharing and require member participation.
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Mba 1 me u 1.3 demand forecasting
- 1. Demand forecasting Course: MBA-1 Subject: ME Unit:1.3
- 2. • Meaning • Importance • Methods
- 3. Why demand forecasting? • Planning and scheduling production • Acquiring inputs • Making provision for finances • Formulating pricing strategy • Planning advertisement
- 4. Steps • Specifying the objective • Determining the time perspective • Making choice of method • Collection of data • Estimation and interpretation of results
- 5. Techniques
- 6. CLASSIFICATION OF DEMAND FORECASTING QUALTITATIVE TECHNIQUES 1)EXPERT OPINION Delphi method. 2)SURVEY 3)MARKET EXPERIMENT Test marketing Controlled experiments. QUANTITATIVE TECHNIQUES 1)Time Series Analysis. 2)Barometric Analysis. a) leading indicators b)Coincident indicators c) Taste indicators.
- 7. Expert Opinion • The expert opinion method, also known as “EXPERT CONSENSUS METHOD”, is being widely used for demand forecasting. • This method utilizes the findings of market research and the opinions of management executives, consultants, and trade association officials, trade journal editors and sector analysts. When done by • An expert, qualitative techniques provide reasonably good forecasts for a short term because of the expert’s familiarity with the issues and the problems involved. • DELPH I METHOD:- The Delphi method is primarily used to forecast the demand for “NEW PRODUCTS”.
- 8. SURVEY A firm can determine the demand for its products through a market survey. It may launch a new products, if the survey indicates that there is a demand for that particular product in the market. For example, Coke in India expanded its product range beyond carbonated drinks, after the company conducted a nationwide survey. The survey revealed that about 80% of the youth preferred to drink tea or coffee rather than carbonated drinks at regular intervals. The remaining 20% preferred to have milk products while only 2% preferred to drink carbonated drinks like coffee. The company is now trying to bring tea and coffee brands to India by installing vending machines. It is also planning to introduce a coconut flavored drink in Kerala and a black currant in Tamilnadu named portello.
- 9. Market Experiment • Market Experiment can help to overcome the survey problems as they generate data before introducing a product or implementing a policy. • Market Experiments are two types:- 1) Test marketing:- 2) Controlled experiments:-
- 10. Controlled experiments • Controlled experiments are conducted to the test demand for a new product launched or to test the demands for various brands of a product. • They are selected some consumers.
- 11. Time Series Analysis • The time series analysis is one of the most common quantitative method used to predict the future demand for a product. Here the past sales and demand are taken into considerations. • TIME SERIES ANALYSIS IS DIVIDED INTO FOUR CATEGORIES: 1)TREND 2)SEASONAL VARIATIONS. 3)CYCLICAL VARIATIONS. 4)RANDOM FLUCTUATIONS.
- 12. METHODS OF TIME SERIES ANALYSIS • 1)TREND:- Past data is used to predict the future sales of firm trend is a long term increase or decrease in the variable. 2)SEASONAL VARIATIONS:- It is taken into account the Variations in demand during different seasons. Eg:- The sale of cotton dresses increases in summer. The sale of Woolen clothes increases in winter. 3)CYCLICAL VARIATIONS:- This variations in demand due to the fluctuations in the business cycle – Boom, recession and depression. 4) RANDOM FLUCTUATIONS:- It may happen due to Natural calamities like flood, earthquake, etc. Which cannot be predicted accurately.
- 13. Conclusion • Accurate demand forecasting requires – Product knowledge – Knowledge about the customer – Knowledge about the environment