CHAPTER ONE

INTRODUCTION

Andreas Faludi states that “Planning and Forecasting” is the “Queen” mother function of management (organization) and that if planning and forecasting fail, what/who will you direct, control, budget, staff, co-ordinate or organize rather than failure and shame”. Again he state that “Theories provide explanations, explanations are response to state of tension resulting from observing unexpected events (Tonlinin (2010).   Planning and forecasting present efforts to reduce surprise caused by such events by giving practicable accounts of how they came about”.

Forecasting is preparing of an organizations future objectives and its current material and personnel inventory, the general or departmental manager make an estimate of the current material and human resources that will be able to do in the future and how many more human and material resources the organization must line to meet its goods (Needle 2017).  Any business organization without element of forecasting is like driving a car blind-folded and being directed by a man looking out through the lack-window.