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Books > Business & Economics > Economics > Economic forecasting
Hoe gaan Suid-Afrika in 2030 lyk? En hoe gaan die volgende 15 jaar ontvou?
Sedert die bekende scenariobeplanner Frans Cronje se blitsverkoper, A Time Traveller’s Guide to Our Next Ten Years, het die land dramaties verander. Politieke spanning het verhoog, die ekonomie het in die hek geduik en al meer Suid-Afrikaners wend hulle uit frustrasie straat toe.
Wat beteken dit vir die land se toekoms? Gaan die vonk in die kruitvat vlamvat of gaan ’n reenboog sy onverwagse verskyning maak?
The US marijuana market generated a total revenue of $1.6B in 2013,
an estimated increase of 33% over 2012, exceeding industry
estimates by more than $100M. The marijuana market is less than 2%
of the US tobacco market, a $153.5B market that has no medicinal
value, and less than 1% of the alcohol market, which valued at
$197.8B in 2012. This market analysis provides information useful
to investors, existing business owners, entrepreneurs, and law
makers involved in the marijuana market.
It is more than fifteen years since Joseph Stiglitz wrote
Globalization and its Discontents, with the message that there is
evidence of much unhappiness with the way global reforms have been
taking place and how they have impacted developing and poor
countries. Stiglitz concluded that the main issue is not with
globalization, but rather that the process of management was very
much lacking. And now Stiglitz in his latest book, Rewriting the
Rules of the American Economy, has argued that the message he had
about globalization is now affecting the advanced economies.
Professor Jorgen Orstrom Moller is never one to evade the
complexities and subtleties of current affairs. He pursues the
issues of the day with an intellectual curiosity, clarity of
thought, and completeness that is enriched by his vast experience
in the Danish diplomatic service, policymaking and academia. In
this book he uses an interdisciplinary approach to discuss the
intrinsic issues, including globalization, that are shaping the
world.
Following the housing crash and financial crisis that began to
unfold in 2007, the United States experienced the longest and
deepest recession since the Great Depression. The Great Recession
that began in December 2007 could be explained after the fact based
on the disruptions to the financial system caused by the crisis.
What has followed since the economy returned to expansion in June
2009, however, posed a greater surprise. The standard macroeconomic
model, consistent with the general economic record since World War
II, predicted that the large decline in gross domestic product
(GDP) that the United States experienced during the Great Recession
would be offset by rapid catch-up growth in the subsequent
expansion that began in June 2009, leaving the average growth rate
unchanged in the long run. Instead, the current expansion has
featured the lowest growth rate of any post-war expansion. The
growth rate since the crisis has averaged one-quarter to one-half
the average since World War II, depending on the measure used. Nor
does this slower growth appear to be a transient blip of no greater
relevance, as the current expansion is already longer than average
and has not experienced a period of growth acceleration at any
point in the expansion. Nor is the relatively slow growth unique to
the United States -- all major advanced economies have had a
similar experience since 2007. This book summarizes the U.S.
economic growth record and reviews a number of explanations
forwarded by economists for why this expansion has featured slow
growth. Some explanations focus on short-term factors that would
not be expected to persist, while others focus on long-term changes
to the economy.
Although all advanced industrial societies have urban and regional
developmentpolicies, such policy in the United States historically
has taken on a very distinct form. Compared with the more top-down,
centrally orchestrated approaches of Western European countries, US
cities and, to a lesser degree, states, take the lead, spurred on
by developers and those with interest in rent. This bottom-up
policy creates conflict as one city battles with another for new
investments and as real estate developers fight over the spoils,
resulting in highly contentious politics. In The Politics of Urban
and Regional Development and the American Exception, Cox addresses
the question of why US policy is so unique. In doing so, he
illustrates the essential characteristics of American regional
development through a series of case studies including housing
politics in Silicon Valley; the history of the Dallas-Fort Worth
International Airport; and a major redevelopment project that was
rebuffed in Columbus, Ohio. Cox contrasts these examples with
Western Europe's tradition of centralized governmental involvement
and stronger labor movements that historically have been more
concerned with creating what he calls "the good geography" than
profits for developers, whatever the shortfalls in policy outcomes
might be. The differences illuminate the peculiar nature of
political engagement and local competition in shaping the way US
urban development has evolved.
Business leaders know that accurate forecasting is a critical
organizational capability. Forecasting is predicting the future,
and the list of what needs to be predicted to run a world-class
organization and its supply chain is virtually endless. Forecasting
goes well beyond simply predicting demand or sales. Accurate
forecasts are essential for identifying new market opportunities,
forecasting risks, events, supply chain disruptions, innovation,
competition, market growth and trends. It also includes the ability
to conduct a what-ifa analysis to understand the tradeoff
implications of decisions. Over the past few years the ability to
make accurate and useful forecasts has become particularly
challenging due to a spike in the competitiveness of global markets
coupled with a global economic recession. Customers are demanding
increasingly shorter response times, improved quality, and greater
product choice. Increased competition is exacerbated by a downward
global economy and rising fuel prices, which increase uncertainty,
risk, and operating costs. The result has been a sharp rise in the
complexity of what needs to be forecasted. In an era of rapid
change, historical data that are typically used to make forecasts
can be of limited value. At the same time information technology
has enabled forecasts to drive entire supply chains and enterprise
resources planning systems. However, more technology and software,
without an understanding of how they can most effectively be
utilized, are not the answer to improving forecast accuracy
Every plan needs a forecast - a reasonable prediction of the
future. No business plan can be implemented without one. But the
academic literature on forecasting is vast and spans disciplines
such as statistics, economics, operations management and informed
judgment and decision making. Recommendations from this literature
have been implemented in a vast array of commercial software, and
almost all modern companies have access to some decision support
models that provide demand forecasts. In the long run, the demand
forecast shapes decisions to build or close down plants, add or
remove products from a portfolio, and bolster or challenge investor
confidence in the stock price. In the short run forecasting
software greatly aids managers in making functional decisions (how
much are we going to sell next month, next year, or 5 years from
now?) but without a proper understanding of the basics of
forecasting, such software appears as a black-box, and the output
from this software garners little trust within an organization. The
intention of this book is to underscore the importance of demand
forecasting and to demonstrate what an executive should know about
it. It discusses the value of forecasting, presents both basic and
advanced forecasting models, introduces the subject of time series
and the technique of exponential smoothing (critical for accurate
forecasts), examines the role that human judgment plays in
interpreting the numbers and identifying forecasting errors.
Finally, the book offers an organizational context by creating a
rational framework that shows how forecasting is an integral part
of business planning and demonstrates how to use forecasts within
an organization.
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