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Q: What is the main objective/purpose of Michael Porter’s Five Forces Model? Answer : Five forces model help’s the company to determine how much competition will exist in a market and the profitability, attractiveness of this market for a company.

Define different types of Validity and reliability ? Types of validity= Content validity It explains whether the content of the measure is representative. This can be done by ensuring elements of the wider issue under investigation and the items used have taken care of depth and breadth. Predictive validity This involves predicting by means of assessment or technique performance on some other criterion. An assessment for example can be used as a predictor when it is used to place children in groups. Concurrent validity This is when data gathered from one instrument must correlate highly with data gathered from using another instrument. Types of reliability= However we can use four techniques to find out reliability which are following: Observer Reliability : The degree to which different raters/observers give consistent answers or estimates. For example Two people may be asked to categorize pictures of animals as being dogs or cats. A perfectly reliable result would be

Validity The concept of validity is to find accurate information without any unnecessary things,There are many ways to assess the validity of instrument/results ,The concept of validity explains that whether the collected result is free from errors or not it also determine whether the result is 100% accurate or not so validation involves collecting and analyzing resulting data to assess the accuracy of an instrument. Validity is the extent to which an instrument measures what it is supposed to measure and performs as it is designed to perform. It is rare, if nearly impossible, that an instrument be 100% valid, so validity is generally measured in degrees. As a process, External validity helps obtain the degree to which a sample represents the population. Content validity refers to the appropriateness of the content of an instrument. In other words, do the measures (questions, observation logs, etc.) accurately assess what you want to know. Reliability Reliability checks the co

What is a Bank reconciliation? Bank reconciliation is a monthly process by which we match up the activity on the bank statement to ensure that everything has been recorded in the company’s or individual’s books. There are two parts to a bank reconciliation, the book (company) side and the bank side. When the reconciliation is completed, both balances should match.  Reconciling items on the book side require for cash : There are a number of items that can cause differences between your book and bank balances. Here is a list of the most common items you’ll encounter when doing a bank reconciliation: 1.      Deposits in Transit=      A deposit in transit is a deposit that has been submitted to the bank but has not get been recorded by the bank. The account holder has recorded the deposit in his records but the bank has not. 2.      Outstanding Checks=      When a check is written it takes a few days to clear. Most businesses have a number of outstanding checks

Use of Excess Cash ,its Effects, and Consequences= We can use excess cash balance efficiently by keeping in mind the following points: Excess cash balance has three disadvantages from which we can plan how to use excess cash balance efficiently by converting disadvantages into advantages :  1. Excess cash can lowers your ROA (return on Assets) 2. Excess cash can increases your COC (cost of capital) 3. Excess cash can increases overall risk by overly confident management team Return on Assets = When your cash balance exceeds your actual working capital cash balance need, you have excess cash, or cash that is not necessary to the firm’s financial operations. For this example, we’ll use a business with total assets of 1,000,000 and cash making up 10%, or $100,000, of that total. Let’s say this business has an annual after tax net income of $100,000, which equates to an overall ROA of 10% ($100,000 / $1,000,000). If the business is only earning 2% annual interest on the

INTRODUCTION Johnson & Johnson started its operations in various countries all over the world and become famous brand almost everywhere. In the following there are some examples of Johnson & Johnson products, brands and sub brands. Business Segment There are three main business segments of J&J. Consumers business Professional business Pharmaceutical business Consumer=  Major franchises in consumer business are skin and hair care, sanitary protection, wound care, oral care, baby care and nonprescription drugs. Familiar brand names include neutrogena skin and hair care products. baby lotion , baby oil etc Professional= Products commonly found in hospitals worldwide, in clinics and physicians’ offices, used by medical professionals for patient care, blood testing and related medical purposes. Well-known Brands include. acuvue Disposable Contact Lens. one touch profile blood glucose monitor. Pharmaceutical= In pharmaceutical J& J have following products procrit; spo

Discuss national income and Gross domestic product effect on national income. Before we start to explain let’s take a look on closed and open economy In a closed economy, all output is sold domestically, and expenditure is divided into three components: consumption, investment, and government purchases. Y = C + I + G In this equation Y is the total output, C is the total consumption, I is the total investment and G is the total government expenditure. In an open economy, some output is sold domestically and some are exported abroad.                                                                   Y = C + I + G + NX In the above equation each word stands for is following: Consumption (C) Investment (I) Government Purchases (G) Net Exports (NX) Consumption : The spending by households on goods and services, with the exception of purchases of new housing. Investment: The spending on capital equipment, inventories, and structures, including new housing. Government Purchases: The spe

Define and explain needs, wants and demands. Describe how they are different from each other. Give real life examples ? Need= We can say this that needs are the necessary requirements, it consists of food clothing and shelter which is needed to live. Needs are something without which human survival is impossible. As human grow from the childhood they come to know about their needs Now a days education and healthcare becoming human needs . Need does not required advertisement or marketing through which we convince people to buy products or services however it is the necessity of every human kind like if someone got fever he or she must have to visit doctor for the treatment so the customer buys its need themselves. But now the time has been changed there are lots of companies in the market which is working to satisfy the customer needs hence in the competitive market many companies are working to market their products and services even for those products and services which is the ba

Differentiate between indifference curve and Budget line is given below: An indifference curve is a combination of two goods that give the consumer equal satisfaction and utility. A budget line is a line showing the alternative combinations of any two goods that a consumer can afford at given prices for the goods within given level of income. All points give the same utility in indifference curve to satisfy consumer.  Combinations of two selected products that a consumer can afford at specified prices for the products according to their particular income level. The main use of indifference curves is in the representation of potentially observable demand patterns for individual consumers over commodity. In budget line Total spending for goods and services can fall short of the budget constraint but may not exceed it.  Discuss different properties of Indifference curve. Indifference curves slope downward to the right: This property implies that an ind

Discuss why it is important to spend time formulating and clarifying your research topic? Research is searching and gathering information to reach new conclusions. We can make research on any topic, but it requires specific time to clarify and formulate research topics like: Are the topics fit to the specification and meet the requirements. Your research topics contain issues that have a clear link to theory. While selecting the topic some creative techniques must be used in research projects. In selection Process, researcher needs to be aware of what is going to be searched. Without it, it is difficult to plan the process which needs long time and effort. Researcher must have the enough time. The research projects can take less than one year or more time based upon the topics. This shows that deciding the topic needs careful evaluation. Issues within the research must be linked to theory.

Marketing?and How Does marketing create needs?  Marketing involves activities of a company associated with buying, selling, advertising and delivering products and customer satisfaction (adding value in product) to people. it plays a vital role in creating or meeting customers’ needs. When a consumer purchases a particular product, he or she is buying its service and not the product. Through educating and informing customers, marketers are able to uncover needs. Marketing also includes Feelings, behavior, availability and reliability. Feelings are like adding flavor in product or services.. A good marketer can easily create a buying response if his behavior satisfy customer and create specific emotional responses and feelings in the customer that result in purchase and increase loyalty with product or services. You buy because you liked the behavior and feel a relationship with the marketer. e.g. after sale services, availability and reliability.

How you can relate business with economics? Economics is how people choose resources to satisfy their unlimited wants and Business is legal activity, done to earn profit. we can say economic is not same as business however it relates with business in many ways, e.g. Price elasticity of demand use to set price items. Factors that change demand like customers taste Fixed cost and variable cost use for decision making considering the affect of product to customers.