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Importance of Adopting ISO 9000

   

Added on  2021-05-31

16 Pages3767 Words87 Views
Determinants of adoption of ISO 9000 andits impact on firm performancei

Executive summaryThe purpose of this report was to assess the importance of adopting ISO 9000 by the firms and theimpacts it has to the firms’ financial performance. The report was guided with the primary questionstating; “What are the importance and impacts of adopting ISO 9000 on the firms’ financialperformance?” in response to this question, secondary data were obtained from the National Bureau ofStatistics of China census which covered 5717 service firms. The instrument that were used in theprimary collection of data were questionnaires. Descriptive and inferential statistics were used to analyzethe collected data using SPSS statistical software version 20. Descriptive statistics showed that most ofthe employees in the firms were less educated since the majority 1257 employees had high schooleducation and below. The firms’ total capital was found to have had strong positive correlation with thesources of capital (government and other sources). The managers were then advised to focus on the skillson the workers which goes hand in hand with the level of education in their next hiring of theprofessionals and also give equal weight to all sources of capital as they had almost same effect to thefirms’ total capital.ii

Table of ContentsExecutive summary...................................................................................................................................iiIntroduction...............................................................................................................................................1Research Objectives..............................................................................................................................1Secondary objectives.........................................................................................................................2Research questions............................................................................................................................2Literature review.......................................................................................................................................3Research Methodology..............................................................................................................................5Results and findings..................................................................................................................................7Descriptive statistics..............................................................................................................................7Inferential statistics...............................................................................................................................8Discussion and managerial advises.........................................................................................................10Research limitations................................................................................................................................11References................................................................................................................................................12iii

Introduction Business is full of competition and is faced by all firms around the globe especially for the firms dealing or producing the same product or substitute products for one another. In order for the business to exist in such competitive environment, they need to have high experienced and skilled manpower that will help in maintaining the market pressure due to competition Onetti, Zucchella, Jones & McDougall-Covin, (2012). Competitive aggression in the business starts from the management through to the junior staffs. Quality management helps in the betterment of business industries’ operations. Efforts have been made by industries to improve the management quality in the firms’ daily operations with which ISO 9000 was developed and adopted as the guidance tool towards high management quality Hahn, (2013). As a result since the ISO 9000 emergence in the year 1987, customers’ desires are met through production of quality goods and services by the firms. Apparently, ISO 9000 have gained popularity and more firms are jostling to join the international organization standards to experience its due benefits. Firms of all sizes i.e. both small and big are joining ISO 9000 to have acquisition of the managerial guidelines in the companies’ operations. One of the functions of ISO is to uphold the preset design standards for the companies’ products. ISO 9000 have spread and is used by the companies to boost their management in almost 187 countries around the globe since when it came to use. Taking all the discussed into account, this report was to fulfill the purpose of assessing the importance of adoption of ISO 9000 and the impacts it has on the firms’ performance.Research ObjectivesThe primary objective of this report was to assess the importance of adoption of ISO 9000 and the impacts it has on firms’ financial performance.1

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