forecasting have advised against the use of mean square error to compare forecasting methods. Forecasting involves the use of information at hand to make statements about the likely course of future events. In technical terms‚ conditional on what one knows‚ what can one say about the future? Forecasting techniques include uni-variant‚ multi-variant‚ and qualitative analysis. Time series used to forecast future trends include exponential smoothing‚ ARIMA (Autoregressive Integrated Moving Average) and
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journalists but it is also a subject which auto enthusiasts look forward to eagerly each season. Did their favorite car make it to the top? What did the critics have to say about it? And do these opinions agree with those who actually own these cars? This paper focuses on the BMW M3 in the sports car class. For those who own the BMW M3 it is likely they will claim that hands down it is the best sports car they have ever driven. Although not all of the auto magazines rated the BMW M3 as number one‚
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Strategically Relevant Factors in the Macro-Environment-PESTEL Analysis PESTEL analysis focuses on the six principal components of strategic significance in the macro-environment: political factors‚ economic conditions‚ sociocultural forces‚ technological factors‚ (natural) environmental forces‚ and legal/regulatory factors. These are the significance factors of one industry varies and management will focus primarily on those with the greatest effect on their company. The most important factor in the vehicle
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unemployment has lead to a reduced consumer confidence. Lastly‚ the technological innovation has been quite rapid and extensive in the last decade. There are 6 types of macro environment variables which are. . . 1.economic 2.legal/political 3.social/culture 4.natural resources 5.internstional 6.technology The following paragraphs give a
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Question 1 What challenges confronted BAL in 1993? 1. Economic forces By the 1990s‚ the Indian economy was undergoing structural change‚ and imports were largely unregulated. Since 1990‚ consumers had felt the pinch of recession‚ inflation had averaged 13%‚ interest rates had shot up‚ and consumer purchasing power had dropped considerably. In 1993‚ demand for two-wheelers had declined substantially‚ the Indian two-wheeler vehicle industry suffered from chronic overcapacity due to the economic
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CASE 1 SULLIVAN FORD AUTO WORLD OVERVIEW The owner of a Ford car dealership dies unexpectedly. His 28-year-old daughter‚ a health care manager with an MBA degree‚ temporarily takes command. She is shocked to find that the once-thriving dealership is losing money and realizes that she must choose between selling the business at an unfavorable price‚ or working to turn it around. She suspects that improving the performance of the service department will be the key to saving the business
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Cash Management for Auto Dealerships Introduction Dr. Hershauer stated in Lecture 11‚ “Cash is king”‚ which is only three small words that emphasize significant meaning for managers to operate efficiently. This statement depicts one of the top priorities of why businesses‚ not only automotive dealerships‚ maintain success. New business entrants may believe the idea that you are out of business when you show an operating loss‚ but Hershauer (2011) proves that you are out of business when you are
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PROJECT FILE ON BAJAJ AUTO Submitted to Submitted by Class MBA-1(B) Roll No. Summary: The Bajaj Group was founded in 1926 by Jamnalal Bajaj and now consists of 27 companies. In 1945‚ Jamnalal Bajaj had formed M/s Bach raj Trading Corporation Private Limited‚ the flagship company‚ to sell imported two-wheelers and three-wheelers. The company acquired license from the government in 1959 to manufacture these vehicles and went public the next year. By 1977‚ the company saw its plant
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Auto biography of a Tree I am a tree‚ tall and imposing‚ standing all alone near the campus of a temple. My life is ever so interesting as‚ I see a huge spectrum of society‚ funny gestures of people‚ and hear all kinds of conversation of the devotees who pass by me. I was not always so huge. As is true of all living beings I was also a long time back‚ a young sapling with this huge tree within me. At that time I looked fresh and beautiful as all other beings who are young‚ but‚ at that time I was
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Nicole Ferrin October 13‚ 2008 BUSA 305 Case Analysis Engstrom Auto Mirror Plant: Motivating in Good Times and Bad Engstrom Auto Mirror Plant is facing the problem of not being able to keep their employees motivated in both good and bad times. Before the problem occurred‚ Ron Bent‚ the plant manager‚ had adopted the Scanlon Plan. The Scanlon Plan was an incentive plan used to motivate employees and to drive changes in their behavior and attitudes. The plan consisted of monthly
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