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Research and Statistical Methods for Business

Executive Summary of Research and Statistical Methods for Business

ISO Certification is a universal means implemented by many service companies to improve productivity as well as efficiency performance. This report evaluates the potential benefits or all factors of ISO Certification implementation as well as the impact of ISO Certification, as well as specific qualifications (Master's, Ph. D., or the Bachelor's or Diploma or Diploma of Graduate School or High School Education employees). It affects the company's financial performance in terms of total assets, capital, sales, profit, capital, etc. The results of this report show that there is no optimistic as well as negative relationship between ISO Certification as well as the company. ‘Performance is likely to affect the company's financial performance. These results led to the conclusion that the ISO 9000 implementation could have a different impact on the financial performance of companies in developed as well as developing countries (Lafuente, Bayo-Moriones, & García-Cestona, 2009).

Contents

Executive Summary.

Introduction.

Literature Review..

Methodology.

Analysis and findings.

Descriptive statistics.

Frequency and Percentage.

Measure of the central tendency.

Dispersion measure.

Inferential statistics.

Chi-square.

Pearson r.

T-test.

ANOVA..

Discussions and Managerial Recommendation.

Limitations and direction of future research.

References.

Introduction to Research and Statistical Methods for Business

The ISO 9000 is a set of international standards for quality control as well as quality assurance established to help companies efficiently submit basic quality systems that are applied to maintain an effective quality system. (American Society for Quality, 2017) At the end of 2000, 50% of the ISO 9000 Quality System Standard Registration with over 408,000 registrations in more than 150 countries was achieved. This shows that the business community has a broad understanding of the benefits of ISO 9000 certification. There are a number of research articles that look at the relevance of the ISO 9000 quality control system as well as business success, but this research, which can refer to causal relationships, is not enough. This report is more focused on determining the ISO 9000 implementation as well as understanding the impact on the adoption of authentication for corporate financial as well as productivity performance. While the performance of the certified company was superior to that of the non-certified company by implementing a causal relationship methodology, there was no indication that performance would improve after the qualification as well as the qualification was registered. These conclusions drive us to achieve that the significant performance of the Certified Company is from a company with outstanding performance that has a strong tendency to engage in ISO 9000 Registration. (Heras, Dick, and Casadesus, 2002)

Literature Review of Research and Statistical Methods for Business

The Literature Review has recognized important articles that match the impact ISO 9000 has on the company's financial as well as productivity performance. In addition, recognized websites are used to evaluate descriptive as well as inferred statistical analyzes. Only a few of these studies have looked at the drivers for the ISO 9000 implementation as well as the impact on the company's financial performance. Zhelyazkov, G. (2009), Heras, I., Dick, GP, &Casadesus, M. (2002) as well as Lafuente, E., Bayo-Moriones, A., &García-Cestona, M. (2009) have an impact on sales as well as profitability after adopting ISO 9000 authentication. Simmons?B. L. ?&White?M. A. (1999) has investigated whether the company is actually registered with ISO 9000 as well as whether it affects business performance. Starke?F. ?Eunni?R. V. ?Fouto?N. M. &Angelo?C. F. (2012) has also studied the impact ISO 9000 authentication has on the company's performance as well as is based on Brazil. American Society for Quality (2017) defines the ISO 9000 standard, but Australian Bureau of Statistics (2017) describes the metrics for the core trend. Some research studies focused on what to do to obtain ISO certification. The Kent State University Library (2017) provides a clear test analysis of dependent as well as independent variables, along with examples.

Methodology of Research and Statistical Methods for Business

The report is based on the Economic Sense of Service Companies, which was implemented by the Chinese State Statistical Bureau in 2008. There are five independent variables: year, certification, two industry codes, four-digit industry codes, as well as FDI. There is the 19th dependent variable for percentage. SPSS software is used for data analysis to determine descriptive as well as inference statistics as well as to perform accurate data analysis.

Analysis and Findings of Research and Statistical Methods for Business

After the ISO 9000 standard was adopted, certified companies increased sales, ROA, ROS, assets, capital, as well as capital, resulting in greater benefits. For many companies, the main goal is to maximize shareholder wealth while making high profits. The main focus on the adoption of the standard plays a key role in the results of authentication. The results show that the size of the company as well as the period before or after certification does not affect the adoption of the ISO 9000 or financial performance of the business. (Zhelyazkov?2009). The ISO 9000 Certification is formed in relation to revenue, revenue growth, as well as revenue growth in assets, capital, as well as capital of the Certified Company. (Starke?Eunni?Fouto?&Angelo?2012)

Descriptive Statistics

Descriptive variables apply to basic characteristics of the data, such as a complete summary of the scale variables as well as evaluating as well as evaluating the data. This report calculates as well as measures the following to analyze the financial performance of a company after adopting ISO 9000 authentication: (Statistical Solutions, 2017)

Frequency and Percentage

According to the Frequency table in Table 1, 92% of enterprises were clearly not certified from 2004 to 2008, but only 8% were certified, with 5,257 as well as 460 frequency, respectively. This indicates that the number of ISO 9000 certified companies is small, as well as that they are using quality standards to improve their performance. However, because the ISO 9000 quality standards were not fully recognized, companies that were not certified dominated the service industry. In addition, from industry code 2 (Table 2), 47% of companies in the business services industry still employ 3. 2% of companies in the telecommunications industry. In addition, 2% of companies were certified in 2006 (Table 3), but 92% were not certified between 2004 as well as 2008. This indicates that there is little impact because a huge number of service companies are not registered with ISO 9000. The authentication of the unauthenticated company. Except for this, only 3% of the approved companies have invested in foreign companies, while 97% decided not to invest in foreign companies (Table 4). This indicates that not only was companies afraid to do so, but also because many non-qualified companies did not register with ISO 9000, the performance to maintain financial performance is poor. (Simmons&White?1999)

Measure of the central tendency

The three main indicators of the central trend are the mode, median, as well as average that define the center value of the distribution or the different metrics for a particular value. (Australian Bureau of Statistics, 2017) Comparing the average sales of certified companies as well as uncertified companies, it seems that the certified companies have achieved more sales than the uncertified companies (Table 5). In addition, the average value of the certified as well as non-certified companies is greater than the median value. Therefore, it is tilted to the right. This suggests that ISO 9000 Certification has had a positive impact on an authenticated firm that has improved financial performance. Likewise, the assets as well as profits of the Certified Enterprise were not only better than those of the Non-Certified Enterprise, but also because the average of the assets as well as profits of the Certified Enterprise was greater than the median, the Right (Table 6). These data analyzes indicate that companies that are not certified by ISO 9000 have less revenue than qualified companies. Therefore, the ISO 9000 Certification had an optimistic impact on the financial performance of the Certified Company. (Martinez Costa & Martinez Lorente, 2010)However, an average of non-qualified company's assets with Return on Earnings (ROA) as well as Return on Sales (ROS) is exceptional than a ROS&ROA for a qualified company, indicating that performance is inefficient as well as less productive. Non-qualified companies (Table 7). As a result, the ISO 9000 Certification had a negative impact on the financial performance of the Certified Company.

Dispersion measure

Measuring the variance, such as variance as well as standard deviation, helps you identify the most distinctive distribution of data. Spreading is useful when evaluating nominal data. The information in Appendix 8 shows that between 2004 as well as 2008, the total assets of a Certified Company were about $30,000 to $97,000. Therefore, the total capital of the certified company was between $17,000 as well as $50,400. Therefore, the capital of the certification company is not only more reliable than the total assets of the certification company, but it also indicates that the company has increased its debt. This data suggests that after ISO 9000 certification was adopted, the fairness of the certified company has improved. Therefore, the positive impact of ISO 9000 on the financial performance of the authorized company.

Inferential Statistics

Inference statistics use a sample of random data from a population to define as well as build inference about the population, such as chi-squared, Pearson's r, t-test, as well as ANOVA-test. (2017 Minitab Inc.)

Chi-square

The Chi-Square test of independence is typically applied to measure statistical independence or the association between two or more category variables. The value of the verification statistic between the authentication dummy as well as the FDI dummy is 125, as well as the corresponding p-value of the verification statistic is P =. 723 (Table 9). Therefore, because the p-value is greater than the selected significance level (α= 0. 05), you can conclude that there is not enough evidence to recommend a relationship between the authentication as well as FDI dummies. Therefore, the ISO 9000 did not have any impact on authorized overseas investment companies.

In addition, the value of the verification statistics between the year of certification as well as the year of establishment of the company is 181. 656, as well as the corresponding p-value of the verification statistics is P =. 003 (Table 10). Therefore, you can conclude that the p-value is less than the selected significance level (α= 0. 05), as well as there is sufficient evidence to recommend a significant relationship between the Accreditation year as well as the Company Foundation year. When a company was launched in a given year, the ISO 9000 standard was used after the ISO 9000 standard was adopted, as well as the ISO 9000 had a positive impact on the certified company. (Kento State University Library, 2017)

Pearson r

The winning Pearson correlation creates a sample correlation coefficient r. This evaluates the stiffness as well as the direction of the alignment between sets of continuous variables. As in Table 11, the sales of employees as well as service companies that have earned their master's or Ph. D. Have a statistically significant linear relationship (p <. 001). The direction of the association between these two variables is positive. This is because there is a positive correlation between the sales of employees with a master's or PhD degree as well as the company's sales.

T-test

The t-test of an independent sample analyzes the average of two independent groups to see if there is statistical evidence that the average of the correlated population is necessarily different. Because p <. 0001 is less than the selected significant α= 0. 05 (Table 12), you can conclude that the average profit between non-certified as well as certified companies is significantly different. The results shown in Table 6 can help you conclude that there was a significant difference in the average profit between the non-qualified as well as the authorized. (t504. 965 = -5. 712?p <. 001) ?As a result, ISO 9000 Certification has made qualified companies more profitable than non-qualified companies.

ANOVA test

Centralized Distributed Analysis or Distributed Analysis correlates the average of two or more independent groups to determine whether there is a statistical measure that the average of the associated population is significantly different. The statistics in Table 13 show that the significant difference value is less than. 05 (p <. 05), so you can conclude that at least one of the service sectors in industry code 2 has significantly different revenue. Therefore, there is a statistically significant difference between the revenue rate as well as industry code 2. Therefore, ISO 9000 concludes that it will impact revenue as well as industry sectors. (Kento State University Library, 2017)

Discussions and Managerial Recommendation on Research and Statistical Methods for Business

Data analysis shows that ISO 9000 has had a positive impact on the financial performance of an authorized service company, while non-authorized companies have lost productivity as well as revenue as well as sales. It's certainly attractive to administrators that ISO 9000 authentication has led to business benefits. The ISO 9000-certified quality control system not only reduces costs, but also increases sales. In addition, since a positive correlation has already been established between them, the company's management is advised to hire more employees who have a master's degree or PhD status. Service companies should emphasize their efforts to achieve the full objectives of the ISO 9000 standard. In addition, non-qualified service companies can encourage adoption of the ISO 9000 standard. It also increases standard efficiency, improves performance, as well as increases competitiveness as opposed to ISO 9000-certified service companies. (Psomas, Pantouvakis, as well as Kafetzopoulos, 2013)

Limitations and Direction of Future Research

A company's certification of ISO 9000 does not mean that the company's market value will increase. Data collection from service companies may be biased. Also, the answer may be inaccurate. In addition, since quality awareness as well as productivity appears to be intangible, the ISO 9000's impact on the financial performance of service companies can be complex to assess. These limitations suggest future research to evaluate quality awareness as well as productivity to assess the performance of your enterprise. Collect data from different modes to get more accurate responses from your service company. Since consumer satisfaction has been excluded from this survey, it suggests that a future study of consumer satisfaction is needed to assess the company's reputation in the market. 

References for Research and Statistical Methods for Business

American Society for Quality. What is the ISO 9000 Standards Series. Retrieved September 29, 2017, from American Society for Quality: http://asq.org/learn-about-quality/iso-9000/overview/overview.html

Australian Bureau of Statistics. What are the measures of central tendency? Retrieved from Australian Bureau of Statistics: http://www.abs.gov.au/websitedbs/a3121120.nsf/home/statistical+language+-+measures+of+central+tendency

Heras, I., Dick, G. P., & Casadesus, M. (2002, July). ISO 9000 registration’s impact on sales and profitability. International Journal of Quality & Reliability Management, 19(6), 774-791. doi:10.1108/02656710210429618

Kent State University Libraries. Chi-Square Test of Independence. Retrieved from Kent State University Libraries: http://libguides.library.kent.edu/SPSS/ChiSquare

Lafuente, E., Bayo-Moriones, A., & García-Cestona, M. (2009, June 30). ISO-9000 Certification and Ownership Structure: Effects upon Firm Performance. British Academy of Management, 21(3), 649-665. doi:10.1111/j.1467-8551.2009.00660.x

Martínez-Costa, M., & Martínez-Lorente , A. R. (2010, August 25). Effects of ISO 9000 certification on firms' performance: A vision from the market. Total Quality Management & Business Excellence, 14(10), 1179-1191. doi:http://dx.doi.org/10.1080/1478336032000107735

Minitab Inc. What are inferential statistics? Retrieved from Minitab Inc.: http://support.minitab.com/en-us/minitab-express/1/help-and-how-to/basic-statistics/inference/supporting-topics/basics/what-are-inferential-statistics/

Psomas , E. L., Pantouvakis, A., & Kafetzopoulos , D. P. (2013). The impact of ISO 9001 effectiveness on the performance of service companies. Managing Service Quality: An International Journal, 23(2), 149-164. doi:https://doi-org.elibrary.jcu.edu.au/10.1108/09604521311303426

Simmons, B. L., & White, M. A. (1999, September 22). The relationship between ISO 9000 and business performance: does registration really matter? Journal of Managerial Issues, 11(3). Retrieved from The relationship between ISO 9000 and business performance: does registration really matter?

Starke, F., Eunni , R. V., Fouto, N. M., & Angelo, C. F. (2012). Impact of ISO 9000 certification on firm performance: evidence from Brazil. Management Research Review, 35(10), 974-997. doi:https://doi.org/10.1108/01409171211272697

Statistics Solutions. Descriptive Statistics and Interpreting Statistics. Retrieved from Statistics Solutions: http://www.statisticssolutions.com/descriptive-statistics-and-interpreting-statistics/

Universal Class. Understanding Measures of Dispersion in Statistics. Retrieved from Universal Class: https://www.universalclass.com/articles/math/statistics/understanding-measures-of-dispersion-in-statistics.htm

Zhelyazkov, G. (2009). Impact of ISO 9000 on Business Performance. Manufacture & Engineering Management, 916 - 937.

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