Managers forecast to gauge the future.  The purpose of forecasting is to become aware of environmental factors that will affect the business in order to plan for it objectively.  The two activities in the forecast step of the planning process are

  • Predictions
  • Assumptions

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Management Roles

We all have different roles to play.  Sometimes these roles can be conflicting.  For example, we may need to spend a lot of time at work to provide financial stability to our household.  But at the same time, we are expected to spend time with our families.  We may also be expected to serve as a leaders and mentors in society and serve on committees.  All these conflicting demands cause tension and may have a detrimental effect on ourselves.

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