An economic downturn has an impact on everyone. The resulting financial crisis often leads to a decline in the real estate market and consumer spending.
Assume that you are the chief executive officer (CEO) of a large multinational company producing consumer products. How would the economic crisis affect the forecasts for your company? In your opinion, how can the forecast be adjusted, if at all, based on the crisis? What type of forecasting approach should the company use? Why? How would you determine the performance of the proposed forecasting approach?