Selection of a forecasting method: Analytical hierarchy process approach

Show simple item record Bartusková, Terezie Papalová, Marcela Kresta, Aleš 2016-06-15T06:22:33Z 2016-06-15T06:22:33Z 2015
dc.identifier.issn 1211-555X (Print)
dc.identifier.issn 1804-8048 (Online)
dc.description.abstract Describing the future development of an organizational environment is crucial for the goal setting and strategy selection of an organization. In today's rapidly changing times it is not easy to predict how the internal and external surroundings of a company will change. Predicting the future development of an organization is not an easy task for managers but they must adopt it to succeed in market competition. Specifically managers must be familiar with forecasting methods which can help to predict the uncertain developments of the environment. There are many forecasting methods which are available, differing in their time requirements, financial demands, and in predictive accuracy. The goal of this paper is to characterize the most commonly used methods and to select the most appropriate one from the point of view of small and medium sized enterprises. These companies are usually limited in the finances that they can spend for strategy setting. They also do not employ a large number of experts, who can apply these methods. In this paper, a suitable forecasting method will be chosen by utilizing the Analytical Hierarchy Process (AHP) approach. eng
dc.format p. 17-28 eng
dc.language.iso eng
dc.publisher Univerzita Pardubice cze
dc.relation.ispartof Scientific papers of the University of Pardubice. Series D, Faculty of Economics and Administration. 34/2015 eng
dc.rights open access eng
dc.subject forecasting eng
dc.subject strategic management eng
dc.subject strategic planning eng
dc.subject forecasting methods eng
dc.subject AHP method eng
dc.title Selection of a forecasting method: Analytical hierarchy process approach eng
dc.type Article eng
dc.peerreviewed yes eng
dc.publicationstatus published eng
dc.identifier.scopus 2-s2.0-84969931947
dc.subject.jel C38
dc.subject.jel L10

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