The impact of the Global Financial Crisis on the freight forwarding industry in South Africa .
Date
2014-07-28
Authors
Kingston, Francis
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Abstract
ABSTRACT
This research investigates the impact of the Global Financial Crisis on the freight forwarding industry in South Africa. Interviews were conducted with senior management from various freight forwarding companies throughout South Africa. Four main themes were examined during the interview process: The impact of the financial crisis in 2008, learning points from the crisis, challenges facing the industry and strategies that have been developed to make companies more robust in the event of a similar crisis occurring in the future.
It was found that the financial crisis affected companies of various sizes differently. Several learning points were taken from the crisis; including access to liquid funds, focus on costs and maintenance of relationships of stakeholders. Companies also indicated that there were many challenges in the current environment, ranging from BBBEE and skills shortages to having a global presence in an inflationary environment.
Most companies have developed various strategies to ensure that they are prepared for future challenges facing the industry. The research concluded that there were both local and international factors affecting the industry and that many challenges existed in the current environment. However, established companies in the industry were well placed and flexible enough to implement the right strategies to ensure continued success of their business.
Description
MBA 2012
Keywords
Freight and freightage, Global Financial Crisis, 2008-2009.