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BUACC5931 Research and Statistical Methods for Business - Federation University

Question:

Adoption of ISO9000 and its Relationship with other Factors in China's Service Industry

You are expected to work in groups and write a research report.

Relationship between Company Growth and ISO 9000 Certification

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Solution:

Executive Summary
This study mainly aims to determine the relationship between company growth and ISO 9000 certification. The study findings suggest that the companies with ISO 9000 certification shows higher performance in all company aspects when compared to that of the company which do not have ISO 9000 certification. Thus, we can recommend the government to enforce a law that ensures that all the companies are trained well enough to match them to get ISO 9000 certification

Introduction
The main objective of this study is to determine the benefits of getting ISO 9000 certification. ISO 9000 certification was mainly used for improving quality level. Normally, the possible chances for the implementation of ISO 9000 certification and it is clearly found that the success behind the ISO certified companies with their success is that their workings matching up with the international laws and that helps them to move higher in their perspective. One of those factor that influence the growth of the company is the company size and owner nationality

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Literature Review
According to Christman (2006), the companies that are certified with ISO 9000 certification certainly have high corporate social responsibilities and they move higher in their company growth by improving their requirements according to their standards. The performance of the ISO certified company mainly depends on the customer preference, monitoring and their sanctions which they expect

According to Yin (2016), innovative firms shows their main intention over changing their existing routines and they often try and create new ideas which help them to improve their process

According to Fikru (2014a), the researcher looks for the possible chances for the implementation of ISO 9000 certification and it is clearly found that the success behind the ISO certified companies with their success is that their workings matching up with the international laws and that helps them to move higher in their perspective. One of those factor that influence the growth of the company is the company size and owner nationality

According to Fikru (2014b), internal pressure normally affects the workers and their unions which in turn push them for a work environment with safe and healthy awareness

According to Fikru (2016), international banks, normally will work on committed sustainable practices which used to facilitate their standards with respect to their performance sustainability, and also, he also looks for factors that influence corporate social responsibility

According to Nakamura (2001), the researcher looks for factors that influence the profit maximization which normally used to influence firm decisions. The findings suggest that the cost and benefits of actions was normally used to enhance or protect the environment and also its capacity to play a significant role of voluntary environmental commitments and attitudes of managers

According to Pekovic (2010), the researcher finds the difference in implementing ISO 9000 certification between manufacturing and service sectors. The main aim of this study is to provide an optimal solution for firm size, corporate status and previous experience with similar standards

According to Chu (2007), the researcher tries to find whether there is any difference after the implementation of ISO 9000 certification. Even though, the researcher did not find any difference with statistical support, he clearly says that the companies which are certified with ISO 9000 performs well when compared to that of not certified companies

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Statistical Methods
The variables taken into considered are classified as either qualitative or quantitative variables. For continuous variables, we use summary statistics to assess the distribution of the variables. Also histogram and box plot was used to shows a pictorial representation of the variables. For qualitative variables, we use frequency distribution to assess the distribution of the variables. Also, bar chart and pie chart was used to show a diagrammatic representation of the variables. Pearson correlation coefficient was used to determine the relationship between two quantitative variables. Independent sample t test was used to determine the relationship between one quantitative and one categorical variable which has two categories in it. One way ANOVA was used to determine the relationship between one continuous variable and one categorical variable which has more than two categories in it.

Results - Descriptive Statistics

The descriptive statistics for the variable sales is given below

The mean sales amount is 11698.57 ± 32873.609 units with a median sales amount is 4205 units. The median sales amount indicate that, nearly 50% of the company sales revenue falls below 4205 units and nearly 50% of the company sales revenue falls above 4205 units. The recorded minimum and maximum company sales amount is 1000 and 869176 units respectively. The skewness and kurtosis is 11.328 and 188.002, indicating that the distribution of company sales amount is positively skewed (mean sales amount is greater than the median sales amount)

The descriptive statistics for company profit amount is given below

The mean profit amount is 2067.97 ± 94.674 units with a median profit amount is 692 units. The median profit amount indicate that, nearly 50% of the company profit revenue falls below 692 units and nearly 50% of the company profit revenue falls above 692 units. The recorded minimum and maximum company profit amount is 17 and 269176 units respectively. The skewness and kurtosis is 19.254 and 602.738, indicating that the distribution of company profit amount is positively skewed (mean profit amount is greater than the median profit amount)

The descriptive statistics for return on sales is given below

The mean sales return is 0.1911 ± 0.124 units with median sales return is 692 units. The median sales return indicate that, nearly 50% of the company sales return falls below 0.17 units and nearly 50% of the sales return falls above 0.17 units. The recorded minimum and maximum company sales return is 17 and 269176 units respectively. The skewness and kurtosis is 19.254 and 602.738, indicating that the distribution of sales return is positively skewed (mean profit amount is greater than the median profit amount)

The descriptive statistics for the company age is given below

The mean profit amount is 7.62 ± 7.07 units with a median profit amount is 6 units. The median profit amount indicate that, nearly 50% of the company profit revenue falls below 6 units and nearly 50% of the company profit revenue falls above 6 units. The recorded minimum and maximum company profit amount is 2 and 61 units respectively. The skewness and kurtosis is 3.54 and 17.85, indicating that the distribution of company sales return is positively skewed (mean profit amount is greater than the median sales return)

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Research Hypothesis

There is a significant difference in the mean total capital between ISO 9000 certified company and not certified company
There is a significant difference in the mean company equity between ISO 9000 certified company and not certified company
There is a significant difference in the mean return of assets between ISO 9000 certified company and not certified company
There is a significant difference in the mean sales return between ISO 9000 certified company and not certified company
There is a significant difference in the mean company total assets between ISO 9000 certified company and not certified company

Inferential Statistics
In order to determine whether there is a significant difference in the mean total capital between ISO 9000 certified company and not certified company

The mean total asset for a certified company is 9267.01 ± 18155.24 and the mean total asset of a non certified company is 4371.79 ±16971.72. On comparing the mean values, we see that the mean total assets for the certified company is high when compared to that of not certified company (p - value < 0.05)

In order to determine whether there is a significant difference in the mean company equity between ISO 9000 certified company and not certified company

The mean total equity for a certified company is 16772.57 ± 33693.40 and the mean company equity of a non certified company is 6899.36 ±30642.06. On comparing the mean values, we see that the mean company equity for the certified company is high when compared to that of not certified company (p - value < 0.05)

In order to determine whether there is a significant difference in the mean return of assets between ISO 9000 certified company and not certified company

The mean total asset for a certified company is 0.167 ± 0.168 and the mean return on assets of a non certified company is 0.229 ± 0.211. On comparing the mean values, we see that the mean return on assets for the certified company is high when compared to that of not certified company (p - value < 0.05)

In order to determine whether there is a significant difference in the mean sales return between ISO 9000 certified company and not certified company

The mean total asset for a certified company is 0.154 ± 0.124 and the mean sales return of a non certified company is 0.194 ±0.123. On comparing the mean values, we see that the mean sales return for the certified company is less when compared to that of not certified company (p - value < 0.05)

In order to determine whether there is a significant difference in the mean company total assets between ISO 9000 certified company and not certified company

The mean total asset for a certified company is 33524.54 ± 63491.07 and the mean total asset of a non certified company is 14981.12 ±53574.92. On comparing the mean values, we see that the mean total assets for the certified company is high when compared to that of not certified company (p - value < 0.05)

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Conclusion
The main objective of this study is to determine the benefits of getting ISO 9000 certification. ISO 9000 certification was mainly used for improving quality level of the products at zero percent tolerance level. The mean total asset for a certified company is 9267.01 ± 18155.24 and the mean total asset of a non certified company is 4371.79 ±16971.72. The mean total equity for a certified company is 16772.57 ± 33693.40 and the mean company equity of a non certified company is 6899.36 ±30642.06. The mean total asset for a certified company is 0.167 ± 0.168 and the mean return on assets of a non certified company is 0.229 ± 0.211. The mean total asset for a certified company is 0.154 ± 0.124 and the mean sales return of a non certified company is 0.194 ±0.123. The mean total asset for a certified company is 33524.54 ± 63491.07 and the mean total asset of a non certified company is 14981.12 ±53574.92

Overall, we see that the companies with ISO 9000 certification shows higher performance in all company aspects when compared to that of the company which do not have ISO 9000 certification. Thus, we can recommend the government to enforce a law that ensures that all the companies are trained well enough to match them to get ISO 9000 certification

Limitations
The major limitation of the study is the sampling frame and the sampling design. Here, the study sample compares the companies which are located in a particular country and therefore, the findings cannot be considered for a universal interpretation. Thus, further, the study can be improved by widening the sample selection that includes samples from many countries and thus, the findings can be considered for general population

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