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Control, or monitoring the results of each operation is critical to the operation's overall success. In order to do that, standards must be established and then actual results are compared to desired results. One way each type of operation does this is by forecasting. Explain how a business forecasts revenues and expenses giving specific examples of the data used and its point of origin. In your opinion, what categories are the most important to forecast for and what is the effect of variances?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92445137

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