Validity Essay Example | Topics and Well Written Essays - 250 words

Validity - Essay Example Validity can be face validity, criterion-related validity, formative validity and sampling validity (Klaus, Boyle and Simon, 13). Reliability and validity are related i.e. closely inter-dependent. Although validity cannot exist without reliability, the latter can exist without validity. Some of the systematic factors that affect both the reliability and validity of measurement include presence of unsystematic events, systematic inconsistency and the change in the event being measured. The unsystematic threats to reliability include subject reliability, situational reliability, observer reliability, instrument reliability and data processing reliability (Klaus, Boyle and Simon, 13). Some of the factors to consider in ensuring reliability and validity include time and money, difference in the measurement expected and reference to a previously validated measure. Some of the measures that can be applied in the improvement of the validity and reliability include ensuring that the goals ar e vividly defined and put into practice, matching the assessment measures to the set goals and objectives, presenting the tests for review to other interested parties, actively involving all participants in a measurement exercise, and comparing the measure with other measures that are

Critical Appraisal of Business Planning Process Essay - 2

Critical Appraisal of Business Planning Process - Essay Example It is evidently clear from the discussion that external market conditions change rapidly in certain industries, thus driving a need for innovation in order to compete with other businesses operating in the same market environment. Products and services both from an entrepreneurial business and the competitive environment have a specific life cycle by which it generates profitability and consumer adoption patterns. A product or service will move from growth to maturity, a period where sales decline and thus new product development becomes a critical internal activity of the organization. This is why generating new ideas becomes a paramount objective in the planning process, usually requiring the input of executive leadership and managers to determine how best to introduce a new product whilst still recognizing costs. In generating new product ideas, the business leaders must determine whether compromises will be made, opportunity costs or trade-offs, in order to launch a new product o r service on the market. â€Å"Will conventional wisdom be defied, an understanding that teams, plans and reflects on learning lead to reduced cost, risk and speed to market†?. Recognising the financial impact of new product development and market launch urgency must be considered when generating new ideas. Innovations, however, are critical to maintaining a stable market position.Strategy formulation determines the objectives necessary to achieve a long-term market position. The strategy defines sustainability over the long-run or whether growth is an expectation related to revenue-building. An entrepreneurial dimension of strategy is persisting to find a better fit in the competitive market or developing a vision by which the organization founds its values and organizational structure against. Developing a long-term orientation is necessary for business planning as it determines the strategic direction the business intends to pursue and thus resources are allocated toward m eeting this purpose.