Sales managers should know what they want to achieve, predict what is likely to happen in the future, try to influence what will be achieved and set final targets for the year.
Forecasting
The sales forecast is the starting point for any business action. It is a projection of what the company’s future sales, profits and market share will be if it continues to do what it is doing right now. The sales forecast predicts that certain financial results will be achieved in the coming year.
Planning
Planning determines what actions need to be taken and who will take the action. These plans are designed to achieve a desired goal or set of objectives. The reason for planning is to make things happen and ensure some control over the results. A plan provides direction taking the company to where management wants it to be.
Budgeting
This is simply the sales plan reduced to financial terms. The specified sales budget is the target that must be achieved during the financial year.
http://www.bubblews.com/news/631080-what-is-sales-forecasting-planning-and-budgeting
Forecasting
The sales forecast is the starting point for any business action. It is a projection of what the company’s future sales, profits and market share will be if it continues to do what it is doing right now. The sales forecast predicts that certain financial results will be achieved in the coming year.
Planning
Planning determines what actions need to be taken and who will take the action. These plans are designed to achieve a desired goal or set of objectives. The reason for planning is to make things happen and ensure some control over the results. A plan provides direction taking the company to where management wants it to be.
Budgeting
This is simply the sales plan reduced to financial terms. The specified sales budget is the target that must be achieved during the financial year.
http://www.bubblews.com/news/631080-what-is-sales-forecasting-planning-and-budgeting
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