Title- Comparison of five Business with respect to profitability
Authar- Neha Gujar
Introduction-
The most profitable business in India depends on various factors, such as market demand, competition, and investment required. However, some of the most profitable businesses in India are e-commerce, food and beverage, healthcare, interiors designing, organic farming, travel and tourism.
Objective- To compare the 5 different types of businesses based on the profit they are
1. Interior design and decoration
2. Food industry
3. Organic farming
4. Travel and tourism
5. IT sector
Test hypothesis
H0: all are the same
Vs H1: Any one of them is different
Literature review
1. exploratory analyses showing that IT investments had a stronger effect on perceived quality than on perceived value provide an explanation for some of the observed effects of IT on customer satisfaction and profits. Together, these contributions and implications provide new insights to assess returns on IT investments by focusing on customer satisfaction, an important intangible and leading measure of firm performance, stock returns, and stock risk.( Sunil & M. S. Krishnan & Claes, 2016)
2. Restructuring is implemented in various connected business areas, depending on the goals, the type of company and the types of its programmes. one of the branches of restructuring is also developmental and technological restructuring. a significantly more complex and expensive task than the implementation of gradual change. In companies in crisis, their past business models cannot succeed, but survey data shows that in these companies, management is dealing with financial restructuring, which cannot guarantee the further development of such a company without first implementing new or drastically changed existing business models.
(Drago, 2020)
Data Collection-
To analyse views of common people about 5 profitable businesses which were taken for study. Students are asked to rate the 5 different businesses by using scale 1 to 10 through google form. Then Calculate ANOVA using excel and Data analysis.
Data analysis-
Analysis of variance (one way)
ANOVA TABLE
Source of Variation SS df MS F P-value
Between Groups 133.88 4 33.47 27.98494983 3.76E-19
Within Groups 293.02 245 1.196
Total 426.9 249
F-critical-2.4084884
Where
SS tells us sum of squares of variables between groups(133.88) and within groups (293.02)
MS tells us the mean square of variables between groups (33.47)and within groups(1.196) i.e. business
df is the degrees of freedom.
Here, F value (27.98) > F critical (2.408)
H0 is rejected
Conclusion:
Any one of the business is different .
Reference :
Drago Dubrovski, 2020. “Developmental and Technological Restructuring for the Implementation of Competitive Business Models,” Expanding Horizons: Business, Management and Technology for Better Society,, To KnowPress.
Sunil Mithas & M. S. Krishnan & Claes Fornell, 2016. “Research Note—Information Technology, Customer Satisfaction, and Profit: Theory and Evidence,” Information Systems Research, INFORMS, vol. 27(1), pages 166-181, March.
.