What capability would an organization have to have to not need forecasts?

1. It has been said that forecasting using exponential smoothing is like driving a car by looking in the rear-view mirror. What are the conditions that would have to exist for driving a car that are analogous to the assumptions made when using exponential smoothing?

2. What capability would an organization have to have to not need forecasts?

3. When a new business is started, or a patent idea needs funding, venture capitalists or investments bankers will want to see a business plan that includes forecast information related to a profit and loss statement. What type of forecasting information do you suppose would be required.