Organizations use both internal and external sources for forecasting information.

Question

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Organizations use both internal and external sources for forecasting information because they need to consider factors such as past performance, market trends, economic conditions, and customer behavior. Internal sources may include sales data, production reports, and financial statements, while external sources may include industry reports, market surveys, and economic indicators. By using a combination of internal and external sources, organizations can make more informed decisions about their future plans and strategies.

Organizations Use Both Internal and External Sources for Forecasting Information