What is Prevoyance? Explanation

Principles of Management
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Donato ochan Hakim
CEO, South Sudan

What is Prevoyance? Explanation

Prevoyance is the function of management which says one must examine the future and draw a plan. How hard is it to forecast what needs to be done in the future? I need a bit of explanation on this, thanks...

  mmuller kcim
Manager, Botswana
 

Prevoyance

In order to achieve strategic planning, how much forecasting is needed?
If forecasting is ineffective, what is the supposed outcome of planning - risky, detrimental?
What variables are used to determine forecasting and planning in order to achieve operational congruence throughout the managerial cycle?

  pradeep deo
Strategy Consultant, India
 

Prevoyance

Strategic planning needs studies and understanding of environment in which a business takes place. This includes political environment. Gut feeling is the most important part of strategic planning. Strategic planning for 4~5 years is reasonably sufficient. 3~4 alternatives should be thought of while performing strategic planning. A continuous monitoring of different scenarios will guide to shifting the strategies so that it will not be detrimental to the business. All business elements need to be considered while strategical planning.

  mmuller kcim
Manager, Botswana
 

Prevoyance and Forecasting

@pradeep deo: Thanks so much for making that clear cut thought of strategic planning! Let's now move to the forecasting ...

  Vance DeMasseo, United States
 

Prevoyance in a Volatile Business Environment

If you are in a volatile business such as service and that is the only product, prevoyance can be difficult to apply eve...

  pradeep deo
Strategy Consultant, India
 

Prevoyance in Services

No business is an indepedent business. Service is no exception, therefore when analysing a service business, first under...

  pradeep deo
Strategy Consultant, India
 

Preyoance, Forecasting and Gut Feeling

@Mmuller kcim: Stastitistical data, forcasting etc are tools for taking decisions. But ultimately it is gut feeling whic...

  David Wilson
Manager, Canada
 

Future Forecasting

Futurology (also called futures studies, ulrike and futurism) is the study of the future based on current predictions an...

 

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