It is my pleasure to present the results of my analysis. The analysis was very simple and I ensured that I used descriptive analysis tool on excel. It enabled me to find the correct solution for the data which was provided for this research.
According to my analysis, most businesses have more than 10 years in operations since they comprised of 43%. Businesses which have taken less than two years are only 13% while those with more than two years but less than 4 years are only 16%. Finally, business that have been in business for more than 5 years are only 15% based on the data collected for this survey.
The results of my analysis shows that the majority of employees ranked come from businesses that have taken 10 years and above. It is followed companies that have been there for more than years it only had 14%. The rest 18% comes from businesses that have been there for not more than 5 years. It therefore follows that businesses with more working years have more employees ranked than those that have taken less years. The results also indicated that the actual number of employees in the business is also affected by the years the business has taken when operating. According to my analysis there are more employees in businesses that have taken more than 10 years than those that have taken less than 2 years.
The result showed that 78% of the employees are working in businesses that have taken more than 10 years, 8.9% for those that have taken more than 5 years but less than 10 years while only 5.1% and 7.5% of the employees only work in businesses that have taken more than 2 years but less than 4 years and less than 2 years respectively.
The result also strongly support that local businesses are able to access internet through broadband and IMP. This means that they are able to develop growth strategies such as cost leadership and the improvement of customer service through the use of internet. Finally the result indicated that there is a strong correlation between the amounts used for training with managers salaries. It also showed that there is a weaker correlation between managers salaries and the age of employees. This is because the coefficient correlation between age and salary is only 0.487 while r for amount used for training is only0.711. It seems that the amount used for training has a stronger correlation because it is more than 0.5. This therefore show that the employees who have used little amount on training is likely to get low remuneration as compared to that who have used significant amount of money.
From the above information it is important for the management of businesses in Ballarat to consider the age of their business when recruiting employees. This is because the business age affects the number of people that it employs. It is also recommended that these businesses should develop strong growth strategies such as product differentiation, merger and acquisition, cost leadership and market segmentation in order to be more competitive in the market. I therefore thank the Ballarat Council for having given me this opportunity to carry out this research.
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