A survey of local businesses firms to determine how they forecast sales will produce a variety of answers. Some will claim they do not use any format techniques to forecast sales. You know they must be using some approach, no matter how loosely defined. How do you know a business firm is making a sales forecast? What are the implications of not making a sales forecast?

Question

A survey of local businesses firms to determine how they forecast  sales will produce a variety of answers. Some will claim they do not use any format techniques to forecast sales. You know they must be using some approach, no matter how loosely defined. How do you know a business firm is making a sales forecast? What are the implications of not making a sales forecast?