Forecasting Behavioral Differences Between For-Profit Firms and Nonprofit Organizations

Abstract

If there is any one function managers most despise, it is the art of forecasting. By its very nature it concerns guessing the outcome of future events. No matter how sophisticated computer driven techniques and programs are evolved, the future has inherently within it events beyond the control of managers. This paper examines the forecasting behavior of nonprofit entities and compares it to the forecasting behavior and patterns of for-profit firms. Findings are reported and recommendations made.