The manager of a residential construction business plans to build more houses next year because interest rates are falling and more people will be able to afford new homes.This plan is an example of ________.
A) benchmarking
B) contingency planning
C) forecasting
D) simulation

Question

Quizplus · Accepted Answer

The manager's plan to build more houses next year based on the prediction that interest rates will fall and more people will be able to afford new homes is an example of forecasting. Forecasting involves making predictions or projections about future events or trends based on past data or trends. Benchmarking involves comparing your company's performance with that of other companies, contingency planning involves preparing for and anticipating potential negative events or risks, and simulation involves creating a model or scenario to simulate a real-life situation.

The Manager of a Residential Construction Business Plans to Build