It is typically a mistake for managers to forecast financial results as part of the strategy formulation process. There are simply too many assumptions necessary and a high probability that the environment will change in significant ways, rendering financial forecasts inaccurate.

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Forecasting financial results is a crucial part of strategy formulation, as it helps managers anticipate future financial conditions, allocate resources effectively, and set realistic goals, despite the inherent uncertainties and assumptions involved.

It Is Typically a Mistake for Managers to Forecast Financial