Top Managers Use Predictive Analytics to Define the Future of the Business

question 93

True/False

Top managers use predictive analytics to define the future of the business, analyzing markets, industries, and economies to determine the strategic direction the company must follow to remain profitable. Tony will set the strategic direction for his firm, which might include introducing new flavors of potato chips or sports drinks as new product lines or schools and hospitals as new market segments.

Assess the implications of surplus and shortage conditions on market dynamics.

Understand the role and importance of forecasting in financial planning.

Grasp the concepts and applications of the Additional Funds Needed (AFN) formula.

Recognize the factors that influence the need for external financing.

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Definitions:

Board of Directors

A group of individuals elected to represent shareholders and oversee the major decisions and policies of a company.

Social Networking

The use of internet-based social media platforms to stay connected with friends, family, or colleagues, and to share information, ideas, and personal messages.

Establish Credibility

The process of proving oneself to be reliable, trustworthy, and competent in a particular field or subject matter.

Public Speaking

The art of effectively communicating to an audience through speech, often for the purpose of informing, persuading, or entertaining.