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Business Forecasting Imperatives in a Depressed Economy: A Nigeria Case
American Journal of Operations Management and Information Systems
Volume 3, Issue 2, June 2018, Pages: 46-51
Received: Apr. 26, 2018; Accepted: May 15, 2018; Published: Jun. 25, 2018
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Frank Alaba Ogedengbe, Department of Business Administration & Management, School of Business Studies, Auchi Polytechnic, Auchi, Edo State, Nigeria
Esther Ogedengbe, Department of Humanities, School of General Studies Auchi Polytechnic, Auchi Edo State, Nigeria
Clement Osigwe Okhakhu, Department of Business Administration & Management, School of Business Studies, Auchi Polytechnic, Auchi, Edo State, Nigeria
Donald Ozemenbhoya Ewanlen, Departmentt of Marketing and Entrepreneurship, Federal University, Otuoke Bayesla State, Nigeri
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This study, business forecasting imperatives in a depressed economy: The Nigeria case takes a careful and cursory but scholarly look at the importance of Business Forecasting in the management of Business Enterprises, especially in a depressed economy like Nigeria’s. The world has become dynamic and uncertain and the business world is not left out in the change that is sweeping globally across all spheres, especially in the management of business enterprises. Since the business environment and terrain have become so dynamic, uncertain and given to change as it is now, scientific business forecasting can no longer remain an option but a sine qua non in the management of business enterprises, if these enterprises and businesses are to escape and survive the mucky and slippery waters of competition, change, uncertainty and dynamism. This study employed the literature study methodology in its approach. The study systematically brings out and highlights the business forecasting techniques and the drawbacks associated with the usage of these techniques. It also examines the importance of business forecasting to business enterprise, and business forecasting nuggets managers need to observe and adhere to in forecasting. The study concludes that urgent and concerted consideration and attention be given to scientific business forecasting in the management of business enterprises to bring the economy out of the woods and troubled waters.
Scientific Business Forecasting, Depressed Economy, Business Decisions, Nigeria
To cite this article
Frank Alaba Ogedengbe, Esther Ogedengbe, Clement Osigwe Okhakhu, Donald Ozemenbhoya Ewanlen, Business Forecasting Imperatives in a Depressed Economy: A Nigeria Case, American Journal of Operations Management and Information Systems. Vol. 3, No. 2, 2018, pp. 46-51. doi: 10.11648/j.ajomis.20180302.12
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This article is an open access article distributed under the Creative Commons Attribution License ( which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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