Final answer:
The statement is true; the nominal group forecasting technique commonly involves participation from both insiders, such as company employees, and outsiders, such as experts, to combine diverse perspectives for more accurate forecasting.
Step-by-step explanation:
The statement in question is: True/False - The nominal group forecasting technique typically involves outside experts as well as company employees. This statement is true. The nominal group forecasting technique often includes both insider-outsider model elements; company employees, who are 'insiders' familiar with the firm's procedures, collaborate with outside experts, who bring a fresh perspective or specialized knowledge to the discussion. This combination of perspectives is beneficial for forecasting as they complement each other. For instance, insiders have intimate knowledge of past performance and internal operations, while outsiders can offer objective insights and identify possible errors that insiders might overlook, as they are not influenced by company culture or predispositions. Furthermore, involving experts is a common practice as they often have a strong initial sense of the right answer, even before delving deeply into a detailed analysis. Their expertise serves as a way to highlight potential mistakes and encourages a more thorough review of the scenario in question.