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Explanation: Parametric tests = It is the Procedure of hypothesis which explains that the variables of interest are measured on at least an interval scale. It is parameters defining properties of the population distribution from which one's data are drawn, Uses of Parametric Tests 1: uses in skewed and non-normal distributions=Parametric tests can be used with continuous data that are non-normal if you satisfy these sample size guidelines. For example sample t test (each group should be greater than 15) and in ANOVA (if you have 10 -12 groups then each group should be greater than 20). 2: uses for when spread of each group is different= For nonparametric tests data for all groups must have the same spread (dispersion). If your groups have a different spread, the nonparametric tests might not provide valid results. In parametric tests you’re good to go even when the groups have different spreads. 3: uses as a Power=Parametric tests usually have more statistical power tha...

What is Manager?Types of Manager? What do Manager do to Motivates employees? Manger is the person who is responsible for achieving organizational objectives by effective and efficient use of resources (these includes Human resources, financial, physical and informational resources), A good manager must have honesty, integrity and the ability to get along with people by utilizing Management skills, Communication skills (interpersonal skills  which involves the ability to understand, communicate with staff,  Negotiation & Networking skills conflict management skills,  Ethics skills and top of the all motivational skills Types of Managers There are three types of Managers 1-Top managers involves board of chairmen, CEO, president, vice president 2-Middle managers consist of Sales manager, branch manager, department head 3-First-line managers includes Crew leader, supervisor, head nurse, and office manager Management Functions=  Manager set objectives and ...

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 take...

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...

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;...

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 exc...

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 th...

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.

Difference between strong and week culture? Culture it is the knowledge of a particular group of people, defined by everything from language, religion etc Cultural strength may be measured across a sub-culture or across the country. Strong culture In strong culture, employees and management understand what is required of them and they will try to act in accordance with the core values. Weak culture In weak culture there is greater need for procedures, policies and bureaucracy in order to get things done in the desired way Difference: Strong culture Week Culture 1-Individual behaviors consistently reflect group values 1-provides poor services which needs to be improved through policies 2-it Produces clarity. 2-Individual behaviors reflect a diversity of beliefs and values 3-less need for detailed policies and procedures. 3-Produce inconsistency in practice. s...

Explain difference between Downsizing and Re-engineering with real life example? Downsizing = Downsizing is used to reduce the size in order to improve its financial performance, usually by laying off employees.Businesses use several techniques in downsizing, including providing incentives to take early retirement and transfer to subsidiary companies, but the most common technique is to simply terminate the employment of a certain number of people. Downsizing often takes place as part of a larger restructuring program at a company. Although it's usually thought of as a strategy companies use to become smaller, downsizing can also be the result of company mergers, acquisitions, and takeovers.Its most common form comes in employee layoffs, which reduce payroll costs for the company. Downsizing may also involve shuttering some operations or offering certain employees early retirement. Downsizing is typically seen during economic downturns in order to improve efficienc...

The effect of Government and Economic Environment on Global borderless environment is given below: Government environment: It involves government actions which affects the whole country and the operations of a company or business and the stake holders as well. These actions may be on local, regional, national or international level. Business owners and managers pay close attention to the Government environment to gauge how government actions will affect their company. Some other reasons are following which effects the global borderless environment by government environment. Different laws imposed by government not only Effects on business activities but it also Effects on delivery of products and services even across the border like Change in the tax policies Increase in the rate of excise duty The above points play vital role in effecting global borderless environment for example the changes in these points impact the business activities which may change the decision of investor...

Explain the research process with help of 8 steps model. The topic of research may be anything for example it can be related to any health topic business topic national economy ,education or any disease or habit you can change the example according to the  requirements .....in the following Research Process Exercise Habit example is taken :  Problem Identification: Researcher first need to identify a problem. The research problem may be something the agency identifies as a problem, some knowledge or information that is needed by the agency. Problem can be based on different things related to health issues, wealth or business etc.  Literature Review: The researcher must learn more about the topic under Investigation. To do this, the researcher  must review the literature related to the research problem. This step is the foundation of the problem  area. The review of literature also tells the researcher about what studies have been...

What is Research and What are the types of research? Definition of Research: Research can be defined as searching and gathering information again in order to reach new conclusions.it can also be defined as systematic investigation which is done by analyzing and collecting facts with reality which explain the main objective of the research. Following techniques must be followed in research process: In selection Process the researcher needs to be aware of what is going to be searched according to the requirements. Without it, it is difficult to plan the process which needs long time and effort. Researcher must have the enough time to do the research. The reality that most research projects takes less than one year or it can take more time based upon the topics. Which shows that deciding the topic needs careful evaluation? For most topics it is important that the issues within the research must be linked to theory. TYPES OF RESEARCH: Different Types of research are following: 1. Explor...

Definition of Research: Research can be defined as searching and gathering information in order to reach new conclusion. it can aslo be defined as systematic investigation which is done by collecting different facts with reality explaining the main objective of the research. In selection Process the researcher needs to be aware of what is going to be searched according to the requirements. Without it, it is difficult to plan the process which needs long time and effort. Researcher must have the enough time to do the research. The reality that most research projects takes less than one year or it can take more time based upon the topics. Which shows that deciding the topic needs careful evaluation? For most topics it is important that the issues within the research must be linked to theory. Characteristics of Research: are following Systematic = In This Researcher Search In Organized Way. Controlled = This Type of Search Is Done in Controlled Way like All Variable ...

What is the objective of financial reporting? Financial reporting It is the process of producing statements which explain the financial position of an organization to management, investors and the government.  it includes balance sheet, income statement, statement of cash flows, and statement of changes in equity and the notes to the account. Objectives The primary objective of financial reporting is to provide useful information for decision making.  The Main objective of financial reporting is to deliver this information to the creditors and the stakeholders of your business who have right to know about it.  Another objective is to specify cash flow information which is need of investors and creditors.  Financial reporting should provide information about liquidity, solvency, and funds flows.  Last but not the least objective is the need for information about economic resources and claims to those resources. This information is key to pr...

What are the three main types of Business Activities? Business activities involves all those activities which help to run the business to earn profit. it comprises many activities financing, investing, operating (marketing, production, delivering) Following are three main business activities           Financing Activities: Financing activities are those activities in which we deals with finance related  task  like  company needs cash to invest in business then through finance activity the company  become able to meet with finance requirements. Financing activities include the inflow  of cash from investors such as banks and shareholders, as well as the outflow of cash to  shareholders as dividends as the company generates income. There are also other  activities which impact the long-term liabilities and equity of the company are also  listed in the financing activities. Financing activities ...