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href="../25471/glossary-organizational-structure.html" title="Glossary: Organizational structure">Glossary: Organizational structure</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21755/23-leadership-and-management.html" title="2.3 Leadership and management">2.3 Leadership and management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24733/glossary-leadership-management.html" title="Glossary: Leadership & Management">Glossary: Leadership & Management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../24745/24-motivation.html" title="2.4 Motivation">2.4 Motivation</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24719/glossary-motivation.html" title="Glossary: Motivation">Glossary: Motivation</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21757/25-organizational-culture-hl-only.html" title="2.5 Organizational culture (HL only)">2.5 Organizational culture (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25243/glossary-organizational-culture.html" title="Glossary: Organizational culture">Glossary: Organizational culture</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21758/26-industrialemployee-relations-hl-only.html" title="2.6 Industrial/employee relations (HL only)">2.6 Industrial/employee relations (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25125/glossary-industrialemployee-relations.html" title="Glossary: Industrial/employee relations">Glossary: Industrial/employee relations</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21670/unit-3.html" title="Unit 3">Unit 3</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21744/31-sources-of-finance.html" title="3.1 Sources of finance">3.1 Sources of finance</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24501/glossary-sources-of-finance.html" title="Glossary: Sources of finance">Glossary: Sources of finance</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21745/32-costs-and-revenues.html" title="3.2 Costs and revenues">3.2 Costs and revenues</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22092/glossary-costs-revenues.html" title="Glossary: Costs & revenues">Glossary: Costs & revenues</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21746/33-break-even-analysis.html" title="3.3 Break-even analysis">3.3 Break-even analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22270/contribution-analysis.html" title="Contribution analysis">Contribution analysis</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22093/glossary-break-even-analysis.html" title="Glossary: Break-even analysis">Glossary: Break-even analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21747/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31367/glossary-final-accounts.html" title="Glossary: Final accounts">Glossary: Final accounts</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21748/35-profitability-and-liquidity-ratio-analysis.html" title="3.5 Profitability and liquidity ratio analysis">3.5 Profitability and liquidity ratio analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25111/glossary-profitability-and-liquidity-ratio-analysis.html" title="Glossary: Profitability and liquidity ratio analysis">Glossary: Profitability and liquidity ratio analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21749/36-efficiency-ratio-analysis-hl-only.html" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25114/glossary-efficiency-ratios.html" title="Glossary: Efficiency ratios">Glossary: Efficiency ratios</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21750/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25118/cash-flow-forecasts.html" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31376/glossary-cash-flow.html" title="Glossary: Cash flow">Glossary: Cash flow</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21751/38-investment-appraisal.html" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31377/glossary-investment-appraisal-.html" title="Glossary: Investment appraisal ">Glossary: Investment appraisal </a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21752/39-budgets-hl-only.html" title="3.9 Budgets (HL only)">3.9 Budgets (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31378/39-budgets-hl-only-glossary.html" title="3.9 Budgets (HL Only) Glossary">3.9 Budgets (HL Only) Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21684/unit-4.html" title="Unit 4">Unit 4</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21767/41-the-role-of-marketing.html" title="4.1 The role of marketing">4.1 The role of marketing</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25618/glossary-the-role-of-marketing.html" title="Glossary: The role of marketing">Glossary: The role of marketing</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21768/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../28328/glossary-marketing-planning.html" title="Glossary: Marketing planning">Glossary: Marketing planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21769/43-sales-forecasting-hl-only.html" title="4.3 Sales forecasting (HL only)">4.3 Sales forecasting (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25713/glossary-sales-forecasting.html" title="Glossary: Sales forecasting">Glossary: Sales forecasting</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21713/44-market-research.html" title="4.4 Market research">4.4 Market research</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25208/glossary-market-research.html" title="Glossary: Market research">Glossary: Market research</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21770/45-the-four-ps.html" title="4.5 The four Ps">4.5 The four Ps</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Product">Product</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22627/glossary-product.html" title="Glossary: Product">Glossary: Product</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22525/price.html" title="Price">Price</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22548/glossary-price.html" title="Glossary: Price">Glossary: Price</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22567/promotion.html" title="Promotion">Promotion</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22704/45-promotion-glossary.html" title="4.5 Promotion - Glossary">4.5 Promotion - Glossary</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22745/place.html" title="Place">Place</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../23813/45-place-glossary.html" title="4.5 Place - Glossary">4.5 Place - Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21774/46-the-extended-marketing-mix-7-ps-hl.html" title="4.6 The extended marketing mix (7 Ps) (HL)">4.6 The extended marketing mix (7 Ps) (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23814/glossary-the-extended-marketing-mix-hl.html" title="Glossary: The extended marketing mix (HL)">Glossary: The extended marketing mix (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21772/47-international-marketing-hl-only.html" title="4.7 International marketing (HL only)">4.7 International marketing (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23815/glossary-international-marketing-hl.html" title="Glossary: International Marketing (HL)">Glossary: International Marketing (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21773/48-e-commerce.html" title="4.8 E-commerce">4.8 E-commerce</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23797/glossary-e-commerce.html" title="Glossary: E-commerce">Glossary: E-commerce</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21688/unit-5.html" title="Unit 5">Unit 5</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21937/51-the-role-of-operations-management.html" title="5.1 The role of operations management">5.1 The role of operations management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24843/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21938/52-production-methods.html" title="5.2 Production methods">5.2 Production methods</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24848/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21939/53-lean-production-quality-management-hl.html" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24839/glossary-lean-production-and-quality-management.html" title="Glossary: Lean Production and quality management">Glossary: Lean Production and quality management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21700/54-location.html" title="5.4 Location">5.4 Location</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24959/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21695/55-production-planning-hl.html" title="5.5 Production planning (HL)">5.5 Production planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25032/glossary-production-planning.html" title="Glossary: Production planning">Glossary: Production planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../33222/56-research-development-hl.html" title="5.6 Research & development (HL)">5.6 Research & development (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../34014/glossary-research-development.html" title="Glossary: Research & Development">Glossary: Research & Development</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21941/57-crisis-management-contingency-planning-hl.html" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25042/glossary.html" title="Glossary">Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../25115/cuegis.html" title="CUEGIS">CUEGIS</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The 6 CUEGIS concepts">The 6 CUEGIS concepts</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Ethics">Ethics</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../21954/mcdonalds-supersize-me.html" title="McDonald's - Supersize Me">McDonald's - Supersize Me</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The CUEGIS essay">The CUEGIS essay</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22876/planning-your-cuegis-essay.html" title="Planning your CUEGIS essay">Planning your CUEGIS essay</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../33806/paper-2-section-c-questions.html" title="Paper 2 Section C Questions">Paper 2 Section C Questions</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../33959/the-ia.html" title="The IA">The IA</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="HL IA">HL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22190/35-sample-research-questions-for-the-hl-ia.html" title="35 sample research questions for the HL IA">35 sample research questions for the HL IA</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22200/hl-ia-student-checklist.html" title="HL IA - Student Checklist">HL IA - Student Checklist</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../33508/ia-hl-poster.html" title="IA HL Poster">IA HL Poster</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="SL IA">SL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22146/sl-ia-20-sample-titles.html" title="SL IA - 20 Sample Titles">SL IA - 20 Sample Titles</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38181/faq-about-the-sl-ia.html" title="FAQ about the SL IA">FAQ about the SL IA</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../22114/exams.html" title="Exams">Exams</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../22115/command-terms.html" title="Command Terms">Command Terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../36599/glossary-of-key-terms.html" title="Glossary of key terms">Glossary of key terms</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../38059/flashcards-revision.html" title="Flashcards - Revision">Flashcards - Revision</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38060/flashcards-revision-unit-1.html" title="Flashcards - Revision (Unit 1)">Flashcards - Revision (Unit 1)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38056/unit-11-revision-flashcards.html" title="Unit 1.1 Revision Flashcards">Unit 1.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38061/unit-12-revision-flashcards.html" title="Unit 1.2 Revision Flashcards">Unit 1.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38067/unit-13-revision-flashcards.html" title="Unit 1.3 Revision Flashcards">Unit 1.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38092/unit-14-revision-flashcards.html" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38096/unit-15-revision-flashcards.html" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38102/unit-16-revision-flashcards.html" title="Unit 1.6 Revision Flashcards">Unit 1.6 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38103/unit-17-revision-flashcards.html" title="Unit 1.7 Revision Flashcards">Unit 1.7 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38114/flashcards-revision-unit-2.html" title="Flashcards - Revision (Unit 2)">Flashcards - Revision (Unit 2)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38121/unit-21-revision-flashcards.html" title="Unit 2.1 Revision Flashcards">Unit 2.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38125/unit-22-revision-flashcards.html" title="Unit 2.2 Revision Flashcards">Unit 2.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38126/unit-23-revision-flashcards.html" title="Unit 2.3 Revision Flashcards">Unit 2.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38144/unit-24-revision-flashcards.html" title="Unit 2.4 Revision Flashcards">Unit 2.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38146/unit-25-revision-flashcards.html" title="Unit 2.5 Revision Flashcards">Unit 2.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38147/unit-26-revision-flashcards-hl-only.html" title="Unit 2.6 Revision Flashcards (HL only)">Unit 2.6 Revision Flashcards (HL only)</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38149/flashcards-revision-unit-3.html" title="Flashcards - Revision (Unit 3)">Flashcards - Revision (Unit 3)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38153/unit-31-revision-flashcards.html" title="Unit 3.1 Revision Flashcards">Unit 3.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38154/unit-32-revision-flashcards.html" title="Unit 3.2 Revision Flashcards">Unit 3.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38182/unit-33-revision-flashcards.html" title="Unit 3.3 Revision Flashcards">Unit 3.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38183/unit-34-revision-flashcards.html" title="Unit 3.4 Revision Flashcards">Unit 3.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38191/unit-35-revision-flashcards.html" title="Unit 3.5 Revision Flashcards">Unit 3.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38192/unit-36-revision-flashcards-hl.html" title="Unit 3.6 Revision Flashcards (HL)">Unit 3.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38193/unit-37-revision-flashcards.html" title="Unit 3.7 Revision Flashcards">Unit 3.7 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38194/unit-38-revision-flashcards.html" title="Unit 3.8 Revision Flashcards">Unit 3.8 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38195/unit-39-revision-flashcards.html" title="Unit 3.9 Revision Flashcards">Unit 3.9 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38196/flashcards-revision-unit-4.html" title="Flashcards - Revision (Unit 4)">Flashcards - Revision (Unit 4)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38198/unit-41-revision-flashcards.html" title="Unit 4.1 Revision Flashcards">Unit 4.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38203/unit-42-revision-flashcards.html" title="Unit 4.2 Revision Flashcards">Unit 4.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38217/unit-43-revision-flashcards.html" title="Unit 4.3 Revision Flashcards">Unit 4.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38218/unit-44-revision-flashcards.html" title="Unit 4.4 Revision Flashcards">Unit 4.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38219/unit-45a-product-revision-flashcards.html" title="Unit 4.5a Product Revision Flashcards">Unit 4.5a Product Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38220/unit-45b-price-revision-flashcards.html" title="Unit 4.5b Price Revision Flashcards">Unit 4.5b Price Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38221/unit-45c-promotion-revision-flashcards.html" title="Unit 4.5c Promotion Revision Flashcards">Unit 4.5c Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38222/unit-45d-promotion-revision-flashcards.html" title="Unit 4.5d Promotion Revision Flashcards">Unit 4.5d Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38223/unit-46-revision-flashcards-hl.html" title="Unit 4.6 Revision Flashcards (HL)">Unit 4.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38224/unit-47-revision-flashcards-hl.html" title="Unit 4.7 Revision Flashcards (HL)">Unit 4.7 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38225/unit-48-e-commerce-flashcards.html" title="Unit 4.8 E-commerce Flashcards">Unit 4.8 E-commerce Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38232/flashcards-revision-unit-5.html" title="Flashcards - Revision (Unit 5)">Flashcards - Revision (Unit 5)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38233/unit-51-revision-flashcards.html" title="Unit 5.1 Revision Flashcards">Unit 5.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38234/unit-52-revision-flashcards.html" title="Unit 5.2 Revision Flashcards">Unit 5.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38235/unit-53-revision-flashcards-hl.html" title="Unit 5.3 Revision Flashcards (HL)">Unit 5.3 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38236/unit-54-revision-flashcards.html" title="Unit 5.4 Revision Flashcards">Unit 5.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38237/unit-55-revision-flashcards-hl.html" title="Unit 5.5 Revision Flashcards (HL)">Unit 5.5 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38238/unit-56-revision-flashcards-hl.html" title="Unit 5.6 Revision Flashcards (HL)">Unit 5.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38239/unit-57-revision-flashcards-hl.html" title="Unit 5.7 Revision Flashcards (HL)">Unit 5.7 Revision Flashcards (HL)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../33830/formulae-quiz.html" title="Formulae Quiz">Formulae Quiz</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 1 Pre-release case study">Paper 1 Pre-release case study</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44969/n22-case-study-ele-plc.html" title="N22 Case Study (ELE PLC)">N22 Case Study (ELE PLC)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M22 (Peacewick Uni)">M22 (Peacewick Uni)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../44106/additional-exam-questions-paper-1.html" title="Additional exam questions (Paper 1)">Additional exam questions (Paper 1)</a></li></ul><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../32840/may-2020-p-s-trawlers.html" title="May 2020 (P&S Trawlers)">May 2020 (P&S Trawlers)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M23 Paper 1">M23 Paper 1</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../47825/paper-1-svt-study-guide-shirin-karimi.html" title="Paper 1 SVT Study Guide (Shirin Karimi)">Paper 1 SVT Study Guide (Shirin Karimi)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../26095/exam-study-tips-resources.html" title="Exam & Study tips (resources)">Exam & Study tips (resources)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../31342/revision-exams-top-tips.html" title="Revision & Exams - Top tips">Revision & Exams - Top tips</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../47460/top-tips-for-m23-exams.html" title="Top Tips for M23 Exams">Top Tips for M23 Exams</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43522/unit-1-intro-to-bm.html" title="Unit 1 - Intro to BM">Unit 1 - Intro to BM</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44034/11-what-is-a-business.html" title="1.1 What is a business?">1.1 What is a business?</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399681.html" title="1.2 Types of business entities">1.2 Types of business entities</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44041/13-business-objectives.html" title="1.3 Business objectives">1.3 Business objectives</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44044/14-stakeholders.html" title="1.4 Stakeholders">1.4 Stakeholders</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44045/15-growth-and-evolution.html" title="1.5 Growth and evolution">1.5 Growth and evolution</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44046/16-multinational-companies.html" title="1.6 Multinational companies">1.6 Multinational companies</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43530/unit-2-hrm.html" title="Unit 2 - HRM">Unit 2 - HRM</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44253/21-introduction-to-hrm.html" title="2.1 Introduction to HRM">2.1 Introduction to HRM</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44256/role-of-hrm.html" title="Role of HRM">Role of HRM</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44257/factors-that-influence-hr-planning.html" title="Factors that influence HR planning">Factors that influence HR planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44282/reasons-for-resistance-to-change.html" title="Reasons for resistance to change">Reasons for resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44283/hr-strategies-for-reducing-the-impact-of-change-resistance-to-ch.html" title="HR strategies for reducing the impact of change & resistance to change">HR strategies for reducing the impact of change & resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45458/21-true-or-false-quiz.html" title="2.1 True or False quiz">2.1 True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43677/21-glossary-of-key-terms.html" title="2.1 Glossary of key terms">2.1 Glossary of key terms</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43875/22-organizational-structure.html" title="2.2 Organizational structure">2.2 Organizational structure</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44338/23-leadership-and-management.html" title="2.3 Leadership and management">2.3 Leadership and management</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45462/23-true-or-false-quiz.html" title="2.3 True or False Quiz">2.3 True or False Quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43829/24-motivation-and-demotivation.html" title="2.4 Motivation and demotivation">2.4 Motivation and demotivation</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44371/types-of-training.html" title="Types of training">Types of training</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44390/25-organizational-corporate-culture-hl.html" title="2.5 Organizational (corporate) culture (HL)">2.5 Organizational (corporate) culture (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44247/26-communication.html" title="2.6 Communication">2.6 Communication</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43545/unit-3-finance.html" title="Unit 3 - Finance">Unit 3 - Finance</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44435/31-introduction-to-finance.html" title="3.1 Introduction to finance">3.1 Introduction to finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44431/31-introduction-to-finance-role-of-finance.html" title="3.1 Introduction to finance - role of finance">3.1 Introduction to finance - role of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45634/31-glossary-of-key-term.html" title="3.1 Glossary of key term">3.1 Glossary of key term</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44436/32-sources-of-finance.html" title="3.2 Sources of finance">3.2 Sources of finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44437/internal-sources-of-finance.html" title="Internal sources of finance">Internal sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44450/external-sources-of-finance.html" title="External sources of finance">External sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44479/appropriateness-of-sources-of-finance.html" title="Appropriateness of sources of finance">Appropriateness of sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45483/32-true-or-false-quiz.html" title="3.2 True or False Quiz">3.2 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43688/32-glossary-of-key-terms.html" title="3.2 Glossary of key terms">3.2 Glossary of key terms</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44486/33-costs-and-revenues.html" title="3.3 Costs and revenues">3.3 Costs and revenues</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44492/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44593/35-profitability-liquidity-ratio-analysis.html" title="3.5 Profitability & liquidity ratio analysis">3.5 Profitability & liquidity ratio analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44627/36-efficiency-ratio-analysis-hl-only.html" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44493/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44515/38-investment-appraisal.html" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44519/net-present-value-npv-hl.html" title="Net present value (NPV) (HL)">Net present value (NPV) (HL)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44564/39-budgets-hl.html" title="3.9 Budgets (HL)">3.9 Budgets (HL)</a></li></ul><li class="ancestor parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="../43547/unit-4-marketing.html" title="Unit 4 - Marketing">Unit 4 - Marketing</a></li><ul class="level-1 expanded"><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44637/41-introduction-to-marketing.html" title="4.1 Introduction to marketing">4.1 Introduction to marketing</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43823/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><li class="ancestor parent" style="padding-left: 14px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="../44660/43-sales-forecasting-hl.html" title="4.3 Sales forecasting (HL)">4.3 Sales forecasting (HL)</a></li><ul class="level-2 expanded"><li class="current" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="benefits-limitations-of-sales-forecasting.html" title="Benefits & limitations of sales forecasting">Benefits & limitations of sales forecasting</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44679/44-market-research.html" title="4.4 Market research">4.4 Market research</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44680/why-how-organizations-carry-out-market-research.html" title="Why & how organizations carry out market research">Why & how organizations carry out market research</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44720/45-the-seven-ps-of-the-marketing-mix.html" title="4.5 The seven Ps of the marketing mix">4.5 The seven Ps of the marketing mix</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44740/451-product.html" title="4.5.1 Product">4.5.1 Product</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44782/453-promotion.html" title="4.5.3 Promotion">4.5.3 Promotion</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44697/46-international-marketing-hl.html" title="4.6 International marketing (HL)">4.6 International marketing (HL)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43565/unit-5-operations-mgt.html" title="Unit 5 - Operations Mgt">Unit 5 - Operations Mgt</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44817/51-introduction-to-operations-management.html" title="5.1 Introduction to operations management">5.1 Introduction to operations management</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44812/52-operations-methods.html" title="5.2 Operations methods">5.2 Operations methods</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44861/53-lean-production-quality-management-hl.html" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44840/55-break-even-analysis.html" title="5.5 Break-even analysis">5.5 Break-even analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44890/56-production-planning-hl.html" title="5.6 Production planning (HL)">5.6 Production planning (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45242/57-crisis-management-contingency-planning-hl.html" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45669/59-management-information-systems-hl.html" title="5.9 Management Information Systems (HL)">5.9 Management Information Systems (HL)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43603/exams.html" title="Exams">Exams</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43740/command-terms.html" title="Command terms">Command terms</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45612/glossary-of-key-terms.html" title="Glossary of key 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<div id="main-column" class="span9"> <article id="benefits-limitations-of-sales-forecasting" style="margin-top: 16px;">
<h1 class="section-title">Benefits & limitations of sales forecasting</h1>
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<div class="panel" style="box-shadow: rgba(0, 0, 42, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span><span style="color:#FF0000;"></span><span style="color:#FF0000;"></span><span style="color:#FF0000;"></span>The benefits and limitations of sales forecasting (AO3)</span></strong></p></div></div><div class="panel-body" style="background-color: inherit;"><div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="172" src="../../../ib/businessmanagement/images/4.3-peak-season-shopping-in-london-1.jpg" width="338"></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>Peak season shopping in London, United Kingdom</em></span></span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Sales forecasting</strong> is a quantitative technique used to predict a firm’s level of sales revenue over a given time period, such as per month, quarter, or year. Businesses are keen to understand the latest and expected market trends in the industry and the underlying reasons for these developments. It is a business management tool that can be used to help all aspects of an organization’s operations, so long as the forecasts are carried out with a high degree of accuracy. </span><span style="font-family:arial,helvetica,sans-serif;">For example:</span></p><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;">Sales forecasts enable the human resources department to have more information to support <a href="../44257/factors-that-influence-hr-planning.html" title="New syllabus 2022 » Unit 2 - Human resource management » 2.1 Introduction to HRM » Factors that influence HR planning">workforce planning</a><span style="font-family:arial,helvetica,sans-serif;">.</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;">Sales forecasts provide managers with important data to aid decisions about options for internal and external <a href="../44214/internal-and-external-growth-1.html" title="New syllabus 2022 » Unit 1 - Introduction to Business Management » 1.5 Growth and evolution » Internal and external growth">growth and evolution</a>.</span></li><li><span style="font-family:arial,helvetica,sans-serif;">It can improve the firm’s operation efficiency by allocating the right amount of resources for production schedules and stock (inventory) control, as these will be based on the expected level of sales.</span></li></ul><p><span style="font-family:arial,helvetica,sans-serif;">In general, sales forecasts are based on historical sales figures and trends, market analyses of the trends in the industry, and the state of the economy (based on the stage the economy is at in its trade cycle). They can also be used to identify or predict a degree of <strong>correlation</strong>, which shows the relationship between two sets of numbers or variables, such as sales revenue at different times of the year.</span></p></div></div></div><div class="panel panel-expandable panel-purple"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>The benefits of sales forecasting (AO3)</strong></p></div></div><div class="panel-body"><div><p>The benefits of sales forecasting include:</p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Sales forecasting can drive strategic planning in a business. For example, it can use sales forecasts to make more informed decisions about growth and expansion plans.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It enables organizations to predict, identify, and prepare for likely opportunities and threats, such as cyclical and seasonal variations.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It helps firms to plan for the future, and to minimise uncertainties (risks) of the future. For example, if the sales forecast for a particular product is extremely pessimistic, the business may decide to withdraw the product before it becomes a drain on resources and finances.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Sales forecasts help businesses to identify sales trends, which helps to improve its operational efficiency. For example, more people can be hired prior to peak trading seasons, improve its stock control and have better cash flow management. By contrast, optimistic, but realistic, forecasts can help the business to secure external sources of finance.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Learning from the past can strengthen an organization. Looking at what has happened in the past can help organizations to predict what is likely to happen in the future, thereby strengthening the organization and helping it to be more successful.</span></p></li></ul><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="170" src="../../../ib/businessmanagement/images/weather(1).jpg" width="300"></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>Forecasts are not perfect, but provide useful information for planners</em></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><em>Note</em>: Although sales forecasting is a quantitative tool, the organizational culture or the sub-culture of the sales department can have a direct impact on sales forecasting.</span></p><div class="yellowBg"><div><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-cogs fa-lg" style="color: rgb(61, 30, 128);"> </span> Theory of Knowledge (TOK)</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">To what extent can the past help managers and decision makers to "know" about the future?</span></p></div></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-purple"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>The limitations of sales forecasting (AO3)</strong></p></div></div><div class="panel-body"><div><p>The limitations of sales forecasting include:</p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Past data and sales trends are not indicative of the future. Extrapolated results can be inaccurate as they ignore changes in the external business environment.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Sales forecasts are less accurate the longer the time period under consideration, which raises the question about the usefulness of this quantitative tool.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Realistic and reliable sales forecasts depend on the ability to collect accurate market research data, but this can be time consuming and expensive to collect.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Sales forecasting has limited use for some businesses, such product-orientated organizations (which do not rely on market research to sell their products), those in rapidly changing markets (such as the fashion industry) and new businesses (which have no previous sales data to draw upon).</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Qualitative factors that affect sales revenues are largely ignored. Examples of qualitative methods that can influence sales forecasts include consumer panels and focus groups. Qualitative factors also include external factors such as the degree of political, economic, and social stability.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Changes in the external business environment can cause large inconsistencies and inaccuracies in sales forecasts. For example, an unexpected downturn in the economy, which causes a major recession, will nullify optimistic sales forecasts.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Similarly, the potential for random variations almost nullifies any effort spent on sales forecasting. Examples of such events include crises (such as a global financial crisis or the outbreak of infectious viruses such as the coronavirus pandemic) and natural disasters (such as earthquakes, extended periods of forest fires, or severe flooding).</span></p></li></ul><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="216" src="../../../ib/businessmanagement/images/floods.jpg" width="466"></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>Natural disasters, such as severe floods, can make sales forecasting rather pointless</em></span></span></p><p>Read more about the main types of variations by clicking the icon below.</p><section class="tib-hiddenbox"><h5><span style="font-family:arial,helvetica,sans-serif;">Types of variations</span></h5><p>Variations can reduce the validity and accuracy of sales forecasts. The main types of variations are (1) seasonal variations, (2) cyclical variations, and (3) random variations.</p><h4><span style="font-family:arial,helvetica,sans-serif;">1. Seasonal variations</span></h4><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Seasonal variations</strong> are foreseeable periodic fluctuations in sales revenues over a known period of time, such as certain months or times of the year. The variations occur on a regular basis, caused by environmental or cultural factors. For example, retailers and travel agencies expect certain peak periods during different times in the year.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="200" src="../../../ib/businessmanagement/images/holidays.jpg" width="300"></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>Demand for holidays is subject to seasonal variations</em></span></span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">Seasonal variations are determined by the numerical difference between the data values and the values on the trend line at each point in time. The seasonal variations can be measured in absolute dollar terms or as percentage of the deviation from the trend. Calculating seasonal variations help organizations to generate a more accurate prediction of sales, such as seasonal fluctuations in demand for:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">IB examiners being recruited for the May and November exam sessions</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Ice cream, beach wear, flip flops, hats and sunglasses during summer months</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Retail sales during the Christmas season</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">School bus services during the academic year</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Stationery and school uniforms (including shoes) at the start of the academic year</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Umbrellas during rainy seasons or monsoons</span></p></li><li><p>Vacations during the school holiday season</p></li></ul><hr class="hidden"><h4><span style="font-family:arial,helvetica,sans-serif;">2. Cyclical variations</span></h4><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Cyclical variations</strong> are the recurring fluctuations in sales revenues due to the trade cycle (or business cycle). The main difference between seasonal variations and cyclical variations is the duration of the pattern of variations in sales revenues. Unlike seasonal fluctuations, which are relatively easy to predict throughout the year, cyclical variations last for unpredictable periods of time. For example, Spain took nine years to recover from the 2008 global financial crisis.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/1.5-trade-cycle-1.jpg" style="width: 480px; height: 234px;"></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>The business cycle influences cyclical variations in sales</em></span></span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">During an economic boom, the sale of most goods and services increases. For example, with a higher level of national income, businesses will tend to sell more cars, flowers, toys, televisions, holidays. By contrast, during an economic recession, the demand for most goods and services will fall.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">To make the sales forecaster more accurate, to account for cyclical variations, marketers adjust the sales figures by the average of the cyclical variations, i.e. the deviation from the trend line.</span></p><hr class="hidden"><h4><span style="font-family:arial,helvetica,sans-serif;">3. Random variations</span></h4><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Random variations</strong> are irregular, erratic or unexpected fluctuations in sales revenues, caused by unexpected and unpredictable factors. As the name suggests, random variations can occur at any time, and for any reason. Examples of such causes include:</span></p><div class="row-fluid"><div class="span6 col-left"><div><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;">Extreme weather conditions</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Natural disasters</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Outbreak of an infectious disease</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Outbreak of a war</span></li></ul></div></div><div class="span6"><div><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;">Political turmoil and public disorder</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Product recalls over safety concerns</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Public relations catastrophe</span>s</li></ul></div></div></div><hr class="hidden"><div class="yellowBg"><div><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(61, 30, 128);"> </span> Case studies - Random events affecting sales forecasts</span></span></h5><p>Random variations are unpredictable or unplanned occurrences that can affect the accuracy of sales forecasts for most products (see case studies below). Such events can directly harm the sales of the organization. However, since these variations are totally random, marketers do not / cannot use any specific method to identify and isolate the deviations from the trend.</p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">In 2010, BP lost control of 3.19 million barrels of oil due to a massive oil spill in the Gulf of Mexico. The company was fined a record $14 billion for the tragedy.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">In 2011, a worker in Australia had a mishap with a forklift truck, accidentally destroying more than AUD$1m (approx. $812,905) of Shiraz wine.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">In 2015, Apple recalled 230,000 of its $420 Beats portable speakers due to overheating batteries, which caused fire risks.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">In 2018, hackers broke into a Japanese currency exchange, causing losses of over $534 million.</span></p></li><li><p>In 2020, the worldwide coronavirus pandemic affected the sales of literally every industry in every country. For example, the US economy recorded over 44 million people losing their jobs in just a 12 week period following the Federal government's lockdown measures.</p></li></ul><p>Consider how each of the above cases could represent random variations for an organization's sales forecasting.</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">The purpose of the above task (and these case studies) is to highlight scenarios where the sales forecasts of marketers become inaccurate due to random events. For example, in the case of the BP oil disaster, the oil spillage would clearly have had a negative impact on the amount of oil in its inventory for sale. The company was also fined a record $14 billion for the tragedy, which would also have harmed BP's corporate image, further damaging its sales.</span></p></section></div></div></section><div class="greenBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-briefcase fa-lg" style="color: rgb(61, 30, 128);"> </span> Business Management Toolkit (BMT)</span></span></h5><p>To what extent do external threats faced by a business affect the accuracy of sales forecasting?</p><p>You might find it useful to refer to <a href="../../task/399696.html" title="New syllabus (first teaching 2022) » Business Management Toolkit (BMT) » BMT 1 - SWOT analysis">SWOT analysis</a> prior to answering the above task.</p></div><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-briefcase fa-lg" style="color: rgb(61, 30, 128);"> </span> Business Management Toolkit (BMT)</span></span></h5><p>The mean, mode, median, range, and standard deviation are all statistical techniques used to analyse sales forecasting data. Discuss how the use of <a href="../42362/bmt-7-descriptive-statistics.html" title="New syllabus (first teaching 2022) » Business Management Toolkit (BMT) » BMT 7 - Descriptive Statistics">descriptive statistics</a> can improve decision making in organizations.</p></div><div class="greenBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-briefcase fa-lg" style="color: rgb(61, 30, 128);"> </span> Business Management Toolkit <span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"> (BMT)</span></span></span></span></h5><p>Discuss how the use of <a href="../42311/bmt-15-simple-linear-regression-hl.html" title="New syllabus 2022 » Business Management Toolkit (BMT) » BMT 15 - Simple linear regression (HL)">simple linear regression</a> can help businesses to make more accurate sales forecasts and strategic business decisions.</p></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-purple"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Key terms</strong></p></div></div><div class="panel-body"><div><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Correlation</strong> is a statistical technique that shows the relationship between two sets of numbers or variables, such as sales revenue at different times of the year.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Cyclical variations</strong> are the recurring fluctuations in sales revenues due to the trade cycle (or business cycle).</span></p></li><li><p><strong>Random variations</strong> refer to variances in sales that can happen at any time and cause unusual data patterns.</p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Sales forecasting</strong> is a quantitative technique used to predict a firm’s level of sales revenue over a given time period, such as per month, quarter, or year.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Seasonal variations</strong> are foreseeable periodic fluctuations in sales revenues over a known period of time, such as certain months or times of the year.</span></p></li></ul></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-purple"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Exam Practice Question - Parx Clothing Co. Ltd. (PCC)</strong></p></div></div><div class="panel-body"><div><p><em>Parx Clothing Co. Ltd. (PCC)</em> is a clothing chain established in 1981. It is vertically integrated, with control of the entire chain of production from designing, manufacturing, and distribution of its clothing products to retail outlets. The company uses the finest quality materials.</p><p><em>PCC</em> has its manufacturing base in Vietnam and has its sales network spread across the USA, India, UK, and Germany. The <em>PCC</em> brand is known for being trendy in the fashion industry as well as its international designs. <em>PCC</em> has new product launches twice a year. The first takes place in the February/March and second in September/October showcasing <em>PPC’s </em>latest fashion collections for the season.</p><p>The marketing director has created the following <strong>sales forecasts </strong>for the next twelve months, based on the company’s past data:</p><table border="1" cellpadding="0" cellspacing="0" width="642"><tbody><tr><td style="width:64px;"></td><td style="width:48px;"><p><strong>Jan</strong></p></td><td style="width:48px;"><p><strong>Feb</strong></p></td><td style="width:48px;"><p><strong>Mar</strong></p></td><td style="width:48px;"><p><strong>Apr</strong></p></td><td style="width:48px;"><p><strong>May</strong></p></td><td style="width:48px;"><p><strong>Jun</strong></p></td><td style="width:48px;"><p><strong>Jul</strong></p></td><td style="width:48px;"><p><strong>Aug</strong></p></td><td style="width:48px;"><p><strong>Sep</strong></p></td><td style="width:48px;"><p><strong>Oct</strong></p></td><td style="width:48px;"><p><strong>Nov</strong></p></td><td style="width:48px;"><p><strong>Dec</strong></p></td></tr><tr><td style="width:64px;"><p>Sales ($’000)</p></td><td style="width:48px;"><p>200</p></td><td style="width:48px;"><p>600</p></td><td style="width:48px;"><p>700</p></td><td style="width:48px;"><p>300</p></td><td style="width:48px;"><p>200</p></td><td style="width:48px;"><p>200</p></td><td style="width:48px;"><p>250</p></td><td style="width:48px;"><p>250</p></td><td style="width:48px;"><p>700</p></td><td style="width:48px;"><p>800</p></td><td style="width:48px;"><p>300</p></td><td style="width:48px;"><p>300</p></td></tr></tbody></table><table border="0" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:47px;"><p>(a)</p></td><td style="width:491px;"><p>Define the term <em>sales forecasts</em>.</p></td><td style="width:104px;"><p align="right"><em>[2 marks]</em></p></td></tr><tr><td style="width:47px;"><p>(b)</p></td><td style="width:491px;"><p>Explain <strong>two</strong> possible economies of scale that <em>PCC</em> is likely to have benefited from.</p></td><td style="width:104px;"><p align="right"><em>[4 marks]</em></p></td></tr><tr><td style="width:47px;"><p>(c)</p></td><td style="width:491px;"><p>Outline <strong>one</strong> advantage and <strong>one</strong> disadvantage of using sales forecasting for <em>PCC.</em></p></td><td style="width:104px;"><p align="right"><em>[4 marks]</em></p></td></tr></tbody></table><p>Click the icon below to access the mark scheme.</p><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="../../../thinkib/icons/teacher-only.svg"> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;"><strong>Answers</strong></span></p><p><strong>(a) Define the term <em>sales forecasts</em>. <em>[2 marks]</em></strong></p><p><span style="color:#FF0000;">Sales forecasts are predictions of an organization’s sales volume or sales revenue over a given period of time, such as per quarter or year.</span></p><p><span style="color:#FF0000;">Award <em>[1 mark]</em> for a definition that shows limited understanding.</span></p><p><span style="color:#FF0000;">Award <em>[2 marks]</em> for a definition that shows good understanding, similar to the example above.</span></p><hr class="hidden"><p><strong>(b) Explain <u>two</u> possible economies of scale from that <em>PCC </em>is likely to have benefited from. <em>[2 marks]</em></strong></p><p><span style="color:#FF0000;">Possible answers could include an explanation of:</span></p><ul class="branded"><li><span style="color:#FF0000;">Purchasing economies of scale - Buying materials in bulk, including fabrics, buttons, labels, thread, stitching, and sewing needles. Unit costs of such materials will fall due to discounts offered by <em>PCC’s</em> suppliers for bulk purchases.</span></li><li><span style="color:#FF0000;">Technical economies of scale - Investments in equipment and machinery used to produce the clothing items (such as CAD-CAM machinery, layer cutting machines, stitching machines etc.) in larger quantities. Over the long run, unit costs will fall as the scale of <em>PCC’s</em> production increases.</span></li><li><span style="color:#FF0000;">Marketing economies of scale - As <em>PCC </em>sells and distributes its fashion products in the USA, India, UK, and Germany, it can benefit from lower unit costs of advertising and promotion perhaps through more effective international marketing media.</span></li><li><span style="color:#FF0000;">Financial economies of scale - Increased amounts of finance, and at more affordable interest rates, can be made available to firms as they expand.</span></li><li><span style="color:#FF0000;"><em>Accept any other relevant answer.</em></span><span style="color:#FF0000;"></span></li></ul><p><span style="color:#FF0000;"><em>Mark as 2 + 2.</em></span></p><p><span style="color:#FF0000;">For each answer, award <em>[1 mark]</em> for identifying a relevant economy of scale and <em>[1 mark]</em> for an appropriate explanation in the context of <em>PCC</em>.</span></p><hr class="hidden"><p><strong>(c) Outline <u>one</u> advantage and <u>one</u> disadvantage of using sales forecasting for <em>PCC</em>. <em>[4 marks]</em></strong></p><p><span style="color:#FF0000;">Possible advantages could include:</span></p><ul class="branded"><li><p><span style="color:#FF0000;">Sales forecasting helps to facilitate planning - Sales forecasting uses past and current data which can be used as a useful planning tool to reduce future uncertainties, such as purchase orders of fabrics. Researchers, such as the marketing director, can identify the trend based on a method of moving averages to forecast the sales figures in the future.</span></p></li><li><p><span style="color:#FF0000;">Improved inventory control - Sales forecasting allows <em>PCC </em>to keep an appropriate level of stocks, such as fabrics, at different times of the year.</span></p></li><li><p><span style="color:#FF0000;">Improved budgetary control - Sales forecasting allows various budgets to be better prepared for different functions within the organization. This could help <em>PPC </em>to improve its corporate strategies to achieve it business aims and objectives.</span></p></li><li><p><span style="color:#FF0000;">Better cash flow position and improved working capital - Sales forecasting and improved budgetary control help <em>PPC </em>to identify seasonal fluctuations and such impacts on the firm’s liquidity position.</span></p></li><li><p><span style="color:#FF0000;"><em>Accept any other relevant explanation written in the context of the case study.</em></span></p></li></ul><hr class="hidden"><p><span style="color:#FF0000;">Possible disadvantages or limitations could include:</span></p><ul class="branded"><li><p><span style="color:#FF0000;">Limited and/or inaccurate information - Data is limited and does not necessarily indicate the whole picture for the company. For instance, the forecasts are based on the past, which maybe unrepresentative so the sales forecasts might be ineffective in practice.</span></p></li><li><p><span style="color:#FF0000;">External influences - Changes in the external environment limits the usefulness of the sales forecasts prepared. For example, changes in economic conditions or consumer habits, taste and preferences will affect the demand for <em>PCC’s </em>fashion items.</span></p></li><li><p><span style="color:#FF0000;"><em>Accept any other relevant explanation written in the context of the case study.</em></span></p></li></ul><p><span style="color:#FF0000;"><em>Mark as 2 + 2.</em></span></p><p><span style="color:#FF0000;">Award<em> [1 mark]</em> for a relevant advantage and <em>[1 mark]</em> for a relevant disadvantage that is clearly identified, up to a maximum of <em>[2 marks].</em></span></p><p><span style="color:#FF0000;">Award<em> [1 mark] </em>for each appropriate explanation / application, up to a maximum of <em>[2 marks].</em></span></p><hr class="hidden"><p><span style="color:#696969;">This exam practice question was created by my IBEN colleague, <strong>Dr. Rima Puri</strong>, who is a highly experienced IB educator. She is a senior IB Examiner, Internal Assessment moderator, and an Extended Essay examiner for Business Management. Many thanks for sharing this on InThinking, Dr. Rima!</span></p><p>Teachers can download a PDF copy of the above exam practice question to use with your students by clicking the link <a href="../../../media/ib/businessmanagement/files/4-marketing/sales-forecasting-parx-clothing-co.-ltd-(rima-puri)-2024.pdf.html">here</a>.</p></div></section></div></div><div class="panel-footer"><div></div></div></div><p><span style="font-family:arial,helvetica,sans-serif;">Return to the <a href="../44660/43-sales-forecasting-hl.html" title="New syllabus 2022 » Unit 4 - Marketing » 4.3 Sales forecasting (HL)">Unit 4.3 - Sales forecasting (HL only)</a> homepage</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Return to the <a href="../43547/unit-4-marketing.html" title="New syllabus 2022 » Unit 4 - Marketing">Unit 4 - Marketing</a> homepage</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../../../businessmanagement.html"><img alt="" src="../../../ib/businessmanagement/logo-blue-black-1.png" style="width: 170px; height: 54px;"></a></span></p><script>document.querySelectorAll('.tib-teacher-only').forEach(e => e.remove());</script>
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