ABSTRACT
This study examined critically forecasting as an effective tool for Business Decision Making using Champion Breweries Plc Uyo as a case study. To carry out the research objectives, the study adopted the survey research design while convenience sampling technique was used to select fifty (50) respondents as sample size for the study. Instrument for the study was a self-developed questionnaire and forms were personally administered. The findings from the study revealed that the effects of forecasting as a tool for business decision making includes: to chance achievement of organizational goal, to achieve customer’s satisfaction and to maximize profit. That the problems of forecasting for effective business decision making includes: (ack of reliable data, corruption on the part of personnel’s and incompetent personnel’s. That the importance of forecasting as a tool for decision making in business organization includes: it helps in future prediction of events, for effective marketing strategies and to enhance productivity. The findings have also shown that the ways necessary to enhance effective forecasting planning in an organization includes: acquisition of sufficient data, employment of competent and trained personnels and organize seminar and workshops to sharpen the skills of personnels. The researcher used primary and secondary methods of data collection to gather the needed data. The data obtained through questionnaire were presented in tables and analyzed using simple percentage. The researcher therefore commends that; managers should be competent enough to get hired personnels to encourage adequate forecast planning.
TABLE OF CONTENTS
PAGES
Title Page = = = = = = = = = i
Approval Page= = = = = = = = ii
Certification= = = = = = = = iii
Dedication= = = = = = = = = iv
Acknowledgement= = = = = = = v
Abstract= = = = = = = = = vi
List of Table= = = = = = = = vii-viii
Table of Contents= = = = = = = ix-xi
CHAPTER ONE
INTRODUCTION
- Background of the study= = = = = = 1-3
- Statement of the problem= = = = = = 3-4
- Objectives of the study= = = = = = 4
- Research Questions= = = = = = 4
- Statement of hypotheses= = = = = = 5-6
- Significance of the study= = = = = = 7
- Scope of the study= = = = = = = 8
- Limitations of the study= = = = = = 8-9
- Organisation of the study= = = = = = 9
- Definition of terms= = = = = = 10
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1 Concept and meaning of forecasting= = = = 11-13
2.2 Types of forecasting= = = = = = 13-14
2.2.1 Types of models on statistical approach
to forecasting= = = = = = = 14-15
2.3 Methods of forecasting= = = = = = 15-20
2.4 Applications of forecasting model theories = = 20-21
2.5 Factors for accurate forecasts= = = = = 21
2.6 Basic for forecasting as a planning tool= = = 22-23
2.7 Importance of business forecasting= = = = 24
2.8 Problems of forecasting for effective
business planning= = = = = = = 24-26
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3.1 Research Design= = = = = = = 27
3.2 Population of the study= = = = = = 27
3.3 Sample and sampling technique= = = = 28-31
3.4 Instrumentation= = = = = = = 31-32
3.5 Plan for data analysis= = = = = = 32-34
3.6 Problems of data collection= = = = = 34-35
CHAPTER FOUR
DATA PRESENTATION, ANALYSIS AND INTERPRETATION
4.1 Analysis of Research Questions= = = = 36-40
4.2 Test of hypotheses= = = = = = 40-55
4.3 Discussion of findings= = = = = = 56-57
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.1 Summary of findings= = = = = = 58-59
5.2 Conclusions= = = = = = = 59-60
5.3 Recommendation= = = = = = = 60-61
References
Appendix I
Appendix II Chart Analysis
CHAPTER ONE
INTRODUCTION
- BACKGROUND OF THE STUDY
In the past decades, many industries and organisations have witnessed a multitude of dramatic changes such as the deregulation of financial sector, competition from other financial institution, and new information technology such as internet. All of these changes have produced a combined effect, leading to unprecedented present day competitive environment [Robert 2004].
In order to survive in the volatile organisation, competent forecasting and planning have become vital activities for organisation. The manager of these organisation and institution requires timely and accurate forecast of variables such as deposits, loans, exchange rates and interest rates, e.t.c, in order that they might improve the planning and controlling responsibilities in an effective manner.