Business School Forecasting for the Real World

Business schools are tasked with matching curriculum to techniques that industry practitioners rely on for profitability. Forecasting is a significant part of what many firms use to try to predict budgets and to provide guidance as to the direction the business is headed. This chapter focuses on forecasting and how well business schools match the requirements of industry professionals. Considering its importance to achieving successful business outcomes, forecasting is increasingly becoming a more complex endeavor. Firms must be able to forecast accurately to gain an understanding of the direction the business is taking and to prevent potential setbacks before they occur. Our results suggest that, although techniques vary, in large part business schools are introducing students to the forecasting tools that graduates will need to be successful in an industry setting. The balance of our chapter explores the forecasting tools used by business schools and firms, and the challenge of aligning the software learning curve between business school curriculum and industry expectations.