What the Forecasting Methods Are Available to Public Administrators

question 24

Essay

What the forecasting methods are available to public administrators?

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Definitions:

SWOT Analysis

A strategic planning tool used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to a business or project.

Porter's Generic Strategies

A framework that outlines three strategies for achieving competitive advantage: cost leadership, differentiation, and focus.

Sustainable Differentiation

Creating long-term competitive advantage by developing unique product features, services, or practices that are difficult for competitors to replicate.

Niche Market Segmentation

The process of dividing a broader market into smaller customer groups with specific needs, characteristics, or behaviors that might require individualized marketing strategies.