Wits Business School (ETDs)

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The Impact of Employee Shareholding Option Plans on Company Performance in South Africa
(University of the Witwatersrand, Johannesburg, 2009-07) Motswenyane, Papillon; Ncube, Mthuli
Employee Share Option Plans (ESOPs) are widely applied in the South African context to disseminate wealth to Historically Disadvantaged South Africans (HDSAs). This opinion is affirmed by an increased application of the concept on a number of Broad Based Black Economic Empowerment (BBBEE) transaction deals concluded recently. The research explored the impact of these schemes on company performance and also investigated the resultant economic impact on participating employees. Data was collected from JSE-listed companies that have implemented these schemes over an eight year period between the years 2000 and 2008. Tobin's Q ratios were constructed using data from various sources with annual reports as the primary source of data. An event analysis was undertaken by measuring Tobin's Q of the said companies before and after the implementation of the respective schemes. A secondary process collated data from a survey of employees participating in the schemes to measure their increased productivity and also to ascertain financial employee spin-offs from the schemes. The research found inconclusive evidence that ESOPs impact positively on company performance. However evidence of a strong correlation between potential productivity increases and the schemes was confirmed . Also, a relationship between an employee's level and term of participation to financial reward was established. This research will assist companies in structuring their ESOPs in relation to individual employee contribution to enhance company performance and will also provide guidance on ESOPs financial impact on employees.
Success Drivers for Independent Feature Filmmaking in South Africa
(University of the Witwatersrand, Johannesburg, 2011-06) Heatlie, Damon; Marcelle, Gillian
This qualitative research addresses the central research question ‐ why is the South African feature film industry uncompetitive, and what are the key drivers for producing profitable films in the South African context? The central conceptual framework used is value chain analysis. The study limits its scope to focusing specifically on the development and distribution stages of the independent feature film value chain. The study commences by investigating the historic poor performance of South African films, which typically were not able to recoup costs and move into profitability. The study interrogates the critical role of the independent film producer as a ‘creative entrepreneur’ and looks at examples of successful film industry development in other emerging economies. The research then examines what international research indicates as success factors at the development stage, followed by an exploration of the rapidly changing digital landscape of film distribution and its associated opportunities. The empirical research component comprises of the analysis of semi-‐structured expert interviews with 12 industry stakeholders – producers, distributors and funder‐investors involved in feature filmmaking in South Africa. The data analysis involved thematic encoding, a reduction of 10 open–ended questions to four key thematic domains that presented in the findings: ‘understanding the market’, ‘finding a business model’, ‘government support’ and ‘embracing distribution challenges’. Conclusions drawn from the findings were that producers have historically misunderstood audience needs and market volumes for their films, that profitability is achievable if one targets local markets modestly, that government support is critical but deficient in the South African environment, and that South African films need committed local distributors and exhibitors even before serious investment in Internet based distribution mechanisms. This study adds empirical data to an under researched field and contributes to understanding the nature of creative industries and their dynamics.
The effect of employee share ownership on company performance in South African mining
(University of the Witwatersrand, Johannesburg, 2014-08) Khan, Shameegh
This study investigates the effects of Employee Share Ownership Plans (ESOP’s) on company profitability in the South African mining industry for companies listed on the Johannesburg Stock Exchange (JSE). The South African mining industry has been in the global spotlight since the Marikana miners’ strike of 2012 and the subsequent killing of 34 people on 16 August 2012. ESOP’s can be used to stabilize the sector by alleviating some of the tension that is present between workers, shareholders, management and government. This research uses the same measurement as Spiess and Affleck-Graves (1995), who measure share price performance as a cumulative average of returns (CAAR) over a five year period. Regression analysis is used to test for correlations and descriptive statistics is used to explain findings (Spiess & Affleck-Graves, 1995). The difference between companies that do not have ESOP’s in place is negative for (CAAR) compared to those who have an ESOP in place. This is consistent with the theory and findings of studies such as Robinson and Zhang (2005). It has been applied to the South African context within the JSE listed mining sector. The theory that ESOP’s will improve profitability of a company listed on the JSE within South African mining has been found to be statistically significant. ESOP’s can help improve cumulative profits and help transform the industry through share ownership of workers which will help decrease the gap between CEO’s remunerations and the lowest paid workers.
Employee-owned companies: A potential solution to minimising industrial action in South Africa
(University of the Witwatersrand, Johannesburg, 2016-03) Sebesho, Bonga; Horne, Renee
The purpose of this research was to assess the employee-owned company model as a potential solution to minimise industrial action in South Africa. Employee ownership, positioned as a key pillar of broad-based black economic empowerment (BBBEE) (Mosai & Reynolds, 2003), is linked to increased employee participation and ultimately to improved industrial relations as a result of increased engagement between employers and employees. Research was undertaken through a study of the multiple methods in which employee ownership is implemented across various industries in South Africa taking into account the reasons for the implementation of employee ownership. This research attempted to cover a wide spectrum of employee ownership models ranging from once-off employee share ownership schemes (ESOPs) to closed employee ownership schemes. Qualitative data was collected through in-depth interviews, utilising the Delphi technique, with a sample of 11 respondents who have been involved in the implementation of employee ownership schemes. The data was content-analysed and the findings suggested that employee ownership has the ability to engender increased participation. The findings of the study suggest that the successful implementation of employee ownership in South Africa has been severely impacted by historical issues relating to financial preparedness from employees and the deep entrenchment of the shareholder value as well as the compliance burden from a business perspective. The study concludes that employee ownership can play a role in engendering meaningful economic participation and consequently reduce the incidence of industrial action. However, in order to achieve its desired objective the government will need to put in place effective incentives as well as powerful disincentives to encourage implementation of long term ownership schemes. This study may provide guidance to South African companies, government and other stakeholders seeking to find broad-based and inclusive models in order to increase employee representation and participation in corporate decision making. The research findings may assist these organisations to find new ways to create a more inclusive economic environment through leveraging the benefits of employee ownership to decrease the incidence of industrial action and ultimately improve output.
Impact of oil price shocks on stock returns: evidence from selected Southeast Asian economies
(2017) Siddiqui, Ammar Ahmed
This paper investigates the impact of oil price shocks on stock market returns in selected Southeast Asian countries. We selected five countries, those are Indonesia, Singapore, Malaysia Thailand and Philippine. We employ autoregressive distributed lag model (ARDL) and VECM model in the analysis. We model both positive oil price shock and negative oil price shock. We find that the real Brent price is positively correlated with all the stock markets in the selected countries. The results of ARDL model indicate that positive oil price shock exhibits a negative impact on the stock market returns while lag one negative oil price shock exhibits a positive impact on the stock market returns in the short run. However, only Indonesia and Singapore exhibit a significant response to positive and negative oil shocks in the ARDL model. The cointegration analysis indicates a long run causal relationship from oil price to stock market returns for Malaysia and Singapore. This result is confirmed by the error correction model with significant and negative but low speed of adjustment.
International stock market linkages: the case of Zimbabwe and South Africa
(University of the Witwatersrand, Johannesburg, 2017) Manungo, Rusununguko Conwell; Kodongo, Odongo
The aim of this paper is twofold. First, it aims to investigate whether or not there are both short run and long run bilateral linkages between the Zimbabwe Stock Exchange (ZSE) and the Johannesburg Stock Exchange (JSE) markets. Secondly, it aims to find out whether or not the extent of linkages between the two markets has been changing over time. The results of the study can be stated simply: - correlation coefficients calculated for the two sub-periods 1980(1)–1990(12) (apartheid in South Africa and independence in Zimbabwe, but still some controls on the economy) and 1991(1)–1999(12) (death of apartheid in South Africa and financial liberalization in Zimbabwe) show that they were not constant overtime. The extent of the linkage has been increasing overtime. Bivariate co-integration tests indicate that there is a common trend linking the Zimbabwe Stock Exchange and the Johannesburg Stock Exchange stock price indices in the period 1991–1999, but none was found for the period 1980-1990. The results suggest that the interrelations between the two markets have increased overtime. They are in line with macroeconomic trends that have taken place since 1991, which were sufficient to strengthen the linkages between the markets, including capital market liberalization, securitization of national markets and a significant increase in cross - listing of stocks of multinational and national companies.This paper thus provides new empirical evidence on international stock market linkages between the Zimbabwe Stock Exchange and the Johannesburg Stock Exchange
The influence of social media on purchase intention, brand awareness, and brand loyalty: a focus on customers’ engagement with brands on the platforms
(2018) Nyatlo, Mmasetena Rahab
The internet has transformed the way people communicate, it has allowed people and brands to communicate beyond geographic and time restrictions. The internet has introduced with it social media, which is a new way that brands and customers communicate, share ideas and exchange information. These interactions have a weighty effect on marketing strategies, therefore social media marketing has become critical for businesses. Through these interactions brands can gauge customer’s attitudes towards the brand’s different offerings. Understanding customer attitudes is an important part to knowing the customers’ buying decision process. Currently new businesses in South Africa mostly fail within a few years of operating. Some of the reasons leading to failure include access to markets, poor marketing, and lack of funding. Social media is a channel which businesses can use to access markets and market their offering as these platforms boast large number of potential customers. These customers are every business’ most important asset and revenue source which assist SMEs in their growth. Therefore, SMEs need to understand how their engagement with customers influences their attitudes towards them as this contributes towards their growth. The purpose of this research is to evaluate customers’ attitudes by understanding how customer engagement with SMEs on social media influences brand loyalty, purchase intention, and brand awareness which will aid in venture growth and in turn economic growth. The study followed a quantitative and positivist method. A survey was distributed through email and social media platforms to existing and potential customers who have a presence on the platforms to collect data, and the study achieved a 38% response rate. The study revealed positive customer’s attitudes towards SMEs that operate on social media platforms. These findings contribute towards the knowledge of SME growth and social media
Experiences of positive psychology coaching for women’s success in workplace
(University of the Witwatersrand, Johannesburg, 2018) Mokwele, Mapaseka
The findings of the study revealed that positive psychology coaching assists the coachees in their ability to develop positive thinking; it helps to improve confidence and resilience, enhances self-awareness and interpersonal skills, enhances learning and knowledge and also enhances decision making skills. Despite this, there were challenges that were highlighted during the use of positive psychology coaching. There were three core challenges that were revealed by the findings, which were the personal coachee challenges, environmental challenges, as well as the PPC tools and methodology challenges. The findings show there were overall benefits which entailed higher level of self-awareness and control where the coachees were able to tap into their strengths, increased their energy, eliminated negative thoughts and felt empowered in so far as being able to achieve all their desires. It is evident that positive psychology coaching is a vital tool for women in leadership as it enhances their ability to go for what they want and believe in themselves, thereby reaching their optimum psychological aspects resulting in success in the workplace
An application of goal programming model to a bank balance sheet management
(2019) Chiwandire, Denise D M
The research presented the application of a goal programming model to the balance sheet management of South African Banks in segmented markets based on multiple goals such as asset accumulation, total liability, shareholders wealth, profitability, earnings and total goal achievement. The significance of the study can measure the effectiveness of policy decisions and plan future investments effectively. The model determined the optimal structure of the balance sheet based on the fulfilment of strategic objectives. Data collected from annual financial reports covered the period 2011 to 2019. The solutions showed the achievement of all goals and possible improvements in target values for optimization.
The effects of individual and organizational factors on ethical behavior in the South African construction industry
(2019) Makonye, Chido
Employees often face many difficult situations that demand ethical decision making from the viewpoint of society and organizations. Various factors influence the outcome of ethical or unethical decision-making and behaviour of employees. This paper briefly examined some of the major factors that may affect ethical behaviour in construction companies. The strength of these factors may vary from individuals to individuals, organizations to organizations, and situation to situation. The factors that were investigated are personal values, corporate ethical values and the organisational climate. Age and gender were used as moderators in this study. South Africa is a developing country in which many private and public organizations are being faced with a lot of fraud and corruption. It is not only in private organization but also the government. This call for an investigation on ethical behaviour but to solve a problem one must find the source of the problem. The study was designed to answer the major question: Are there any significance relationships between personal values, corporate values and organisational climate and ethical behaviour in the South African construction industry? The researcher employed a quantitative research method. Data collection was done by use of questionnaires distributed to various construction companies. A computer programmer called SPSS version 25 and Microsoft excel were used to analyse data. Descriptive statistics was used to interpret data collected from the first section of the questionnaire that is the biographic information. Linear regression and correlations were used to test the proposed hypothesis. Multiple regression was used to test the moderation effect of age and gender. The findings largely confirm previous studies that personal values and corporate values influence ethical behaviour. However contrary to some previous studies, there was no significant relationship between ethical behaviour and organisational climate. Conclusions, findings and recommendations were drawn from the results.
Shared Mobility and Private Vehicle Ownership: A South African Perspective
(University of the Witwatersrand, Johannesburg, 2019) Radebe, Valela Napthtal; Ndaba, Zanele
When former and late President Nelson Mandela arrived in Soweto after his release from prison in 1990, he was surprised to see the high number of private vehicles that were there since his imprisonment in the early 1960’s. The improved living standards (in spite of Apartheid) and poor public transport services had led to an increase in private vehicle ownership by Sowetans. Unlike in other more affluent areas, the majority of vehicles leaving Soweto on any given weekday have at least three occupants and some may even be overloaded. Owing to the high cost of owning and maintaining private vehicles, owners thereof have had to organise lift clubs to share costs with commuters for trips of similar origins and destinations. This form of shared mobility has also been very popular in other parts of South Africa. The lack of viable mass-transit public transport services in both poor and affluent areas has placed more reliance on private vehicles. Outdated public transport services in cities like Johannesburg are still clustered around old economic nodes like the Johannesburg Central. Rail lines built in the 1960’s and 1970’s are still based on transporting daily commuters to these central business districts. However, new economic hubs have since mushroomed in commercial districts in the north of Johannesburg in areas like Sandton, Fourways and Rosebank. The relocation in the late 1990’s of the Johannesburg Securities Exchange from Johannesburg Central to Sandton proved to be a catalyst to this business migration. Owing to the inflexibility of traditional public transport, mini-bus taxis have had to fill this void for poorer communities
Assessing digital transformation within a South African mining firm
(2019) Benzane, Mahene Patrice
South Africa is still one of the top global producers of various mineral commodities, including gold, coal, platinum, palladium, manganese, titanium, and uranium. The mining industry contributes about 8% to the GDP of South Africa, and it used to be a dominant sector in the past. This industry is known to be a labour-intensive sector with little application of the digital technologies which many industries that were born after the boom of mining in South Africa are currently using. The recent example is the increasing depth of gold which tends to require technology interventions to access these resources where it is not feasible for physical humankind intervention, and this shows the need to transform the mines digitally. The effects of various digital technologies in the mining industry due to the Fourth Industrial Revolution (4IR) phenomenon means that mining organisations can mine smarter, improve safety, reduce cost, develop new insights from their current operation, and contribute towards the sustainable economic and social development of the country. However, the required level of digital maturity, the applicable digital transformation model in terms of what to digitally transform within the mining value chain, as well as understanding the mechanism required to drive maximum adoption and successful implementation of these digital technologies across all levels of the organisation remains unclear and challenging. In a quest to address these, a qualitative research strategy was selected as a means of getting to understand what needs to be digitally transformed in the mining value chain, this would then help identify an applicable Digital Transformation Framework for a mining firm willing to embark on this transformation journey. This qualitative approach is further used in the research to unpack the effective ways to engage various stakeholders within the organisation to help enable successful implementation and adoption of these digital technology initiatives. To do this, a single case study method was utilised and Company X was identified as an ideal mining company in which to conduct the study. Company X has embarked on a digital transformation journey which they run through an internal initiative called Digital@Comapany X, and they have been making a buzz across the South African mining industry as the pioneers in adopting and embracing digitisation in mining, hence they were selected for this study. Based on the reviewed literature, the research made several propositions. One of the propositions indicated that the digital transformation of the internal processes within the mining value chain is the key area of focus for a South African mining firm. The key findings from this case showed that 100% of the interviewed executives, junior managers, middle managers, and senior managers believe that the introduction of the digital technologies within Company X will lead to worker enablement through digitised processes that will eventually improve decision making by using the power of visualised data. Therefore, according to the first proposition made, it is evident from the research that digitalisation of the internal process within the mining value chain is an important area of focus. In summary, the findings showed the following areas as what the digital transformation initiative aims to transform: Digital Capability, Human Resources, Worker Enablement, Culture, Customer Experience, Process Digitisation, Unified Data, and Performance Management. 50% of the executives indicated the importance of customer experience in their digital transformation journey. 65 % of the respondents indicated the importance of unified data by having integrated operations centres, whereas 36% mentioned performance management as the key area of focus, and only 14% of the respondents mentioned IT infrastructure to enhance digital capability as another focus area for the internal digital transformation journey. According to the reviewed literature, it was further proposed that the Digital Piano framework is the most appropriate or relevant transformation model to be used by Company X, and can be further tested by mining firms intending to embark on a digital transformation journey. The aim was to test this proposition by comparing what to transform in practice according to Digital@Company X roadmap to what other various theoretical and conceptual frameworks focus on in terms of the digital transformation process. The findings were not entirely in agreement with the proposition made. Based on what is currently done at Company X, the combination of these following frameworks in the context of the mining firm proves to be more appropriate than using a specific model: Digital Piano framework, Digital Orchestra Framework, Six Keys to Success Framework, Digital Enterprise Integrative Management Framework, Digital Transformation Framework, by Corver and Elkhuizen, The Digital Reinvention Framework, and the Digital Innovation Strategy Framework. Therefore, choosing a single framework from the literature to apply to the mine as a relevant digital transformation strategy may have a dire digital transformation process or journey that leads to poor implementation, lack of adoption and wastage of resources with no realisation of intended digital benefits if it does not holistically cover various aspects of the mine or organisation as a whole. The researcher named the combination of these frameworks an Integrated Digital Transformation Framework for Mining (IDTFM). The last proposition made in this research was that to embark on the digital transformation journey in the mining sector in the 4IR era requires the co-operation and participation of all stakeholders to ensure the successful implementation and adoption of digital technology initiatives. According to the findings, the following themes in terms of what may or may not lead to success emerged: Poor Change Management, Unclear Vision, Value Realisation, Stakeholder Involvement, and Ease of Use and Adoption. According to the findings gathered from the 14 respondents, it is evident that there is a clear understanding of what could lead to the failure of digital technology interventions within Company X. Respondents further echoed the importance of change management, vision, stakeholder engagement, the value brought by these technologies as well as the importance of Ease of use to drive adoption. The managers have a strong interest in the practicality of any IT system implemented to drive productivity and efficiency, and the ease of use of the system is an important factor for them as key stakeholders that need to drive these initiatives at the operations. 80% of all the respondents emphasised on the ease of use. 57% indicated the importance of stakeholder involvement, and further findings showed the significance of good change management is one of the driving factors for successful implementation and adoption. In addition to these findings, one of the two executives interviewed highlighted the importance of everyone understanding the vision of the company. Therefore, the third proposition is validated through the research findings and literature that any lack of effective stakeholder engagement when pursuing a digital transformation roadmap or efforts within a mining firm will lead to a lack of adoption and ineffective implementation. To link some of the findings to the literature, the Diffusion of Innovations Theory developed by E.M. Rogers in 1962, states that Innovation, communication channels, time, and social system are the four key components of the diffusion of innovations, and when promoting innovation to a target population, it is important to understand the characteristics of the target population that will help or hinder the adoption of the innovation. The Technology Acceptance Model (TAM) theoretical framework helps explain the usage of technology within a specific context, and the usage could either be the ease of use or the usefulness of that specific technology as perceived by the users (Venkatesh and Bala, 2008). Therefore, based on the 80% of the respondents believing that the ease of use of these technologies and the perceived usefulness in terms of practical application will lead to easier adoption indicates that TAM is accurate in the case of Company X. Therefore, the research further recommends the use and applications of these theories when embarking on the digital transformation journey of a mine. Further to these findings, the Diffusion of Innovations Theory has been used successfully in many industries including communication, agriculture, public health, criminal justice, social work, and marketing, therefore it can also be applied in a case of a mining firm to ensure adoption of innovations brought in the form of digital technology implementations. TAM is also applicable in the context of a mining firm and must be utilised. With the support of literature and the findings of the research, It is further recommended that the leadership team in a mining firm must create and follow an integrated digital transformation compass (Westerman, Bonnet & McAfee, 2014).
Entrepreneurial orientation of the City of Johannesburg
(University of the Witwatersrand, Johannesburg, 2019) Malakoane, Jones
The notion of entrepreneurial orientation (EO) is important because it contributes to the fundamental apprehension of entrepreneurship. Increasingly, attention is being paid by scholars and policy makers to the concept of entrepreneurial ecosystems (EE) as incubators of innovation, creativity and entrepreneurship. Though the concept is still in its embryonic phase, well performing entrepreneurial ecosystems such as the Silicon Valley in California are the envy of many governments striving for economic success, through promotion of entrepreneurship. The primary objective of this study was to explore the relationship between the perceived entrepreneurial orientation of the City of Johannesburg Department of Economic Development (CoJ-DeD) and the perceived City of Johannesburg’s (CoJ) local EE performance. EO of an organisation, for the purpose of this study, is reflected in the organisation’s innovativeness, proactiveness and risk-taking abilities while EE was measured by the three variables, opportunity exploitation (OE), opportunity recognition (OR) and entrepreneurial activity (EA). The data relating to the perceived city’s EE performance was from 109 usable questionnaires collected from a target sample size of 150, the sample’s population was comprised of nascent entrepreneurs, early start-up and established business owners in the CoJ. The data concerning perceived EO of CoJ-DeD officials was from 46 usable questionnaires, this sample was collected from a population of 50 CoJ-DeD officials, comprised of middle and senior managers. The measuring instruments construct validity was evaluated by means of Cronbach alpha coefficients and principal component exploratory factor analysis. The Welch’s t-test was utilized to assess the study’s conceptual framework model. The results showed that EO of the CoJ-DeD officials is defined by proactiveness, innovativeness and risk-taking and the city’s local EE perceived performance is defined only by opportunity exploitation and opportunity recognition. The results also showed a positive relationship between innovation and opportunity recognition, proactiveness and opportunity recognition and between risk-taking and opportunity recognition. It is vi recommended that entrepreneurship becomes the dominant strategic thinking in the CoJ to help unlock opportunities and new sources of value, services and innovation.
Early-stage entrepreneurs’ marketing activity in South Africa
(University of the Witwatersrand, Johannesburg, 2019) Botha, Jamie-Lee Ann; Mazonde, Nomusa
Purpose: This paper explored the unique characteristics of the marketing function of early-stage entrepreneurs operating in South Africa. Methodology/approach: A qualitative study was done. The data was collected by doing unstructured face-to-face interviews to conceptualise the unique marketing activities of early-stage entrepreneurs operating in the South African market. Findings: The study indicated that entrepreneurs do digital marketing; however, the primary marketing activity is the ‘on the ground’ marketing. Entrepreneurs still execute old fashioned, cold calling and relationship building with the customer at the centre of the business. Entrepreneurs boasted of their agility to adopt new technology and offer personalised service and product packages to meet the customer’s needs. Value: This paper uncovered the marketing activities of early-stage entrepreneurs and highlighted the marketing areas that need improvement. The results will assist entrepreneurs in the early business development stages with their marketing endeavours and enhance the business performance. The research contributed to the domain of entrepreneurial marketing
Changes in consumer behaviour of urban black emerging middle-class consumers in South Africa, as a result of rural to urban migration
(2019-03) Malesa, Nnaniki
Multinational Corporations (MNCs) are facing the scenario that established markets are becoming saturated. They have consequently identified that pursuing entry in emerging markets will contribute to the growth of their respective brands. In turn, the development of emerging market strategies adapted to reflect understanding and localisation of the consumer behaviour habits found within these emerging markets, has become a priority for them. It is within this context that this research study was undertaken. The purpose of this research study was to investigate the changes in consumer behaviour of black emerging class consumers when they migrate from rural areas within SA to urban areas of Gauteng. A qualitative research methodology was pursued with three focus groups to understand the changes in their consumer behaviour across four key themes, namely: Circular Migrators and Remittance providers to rural dwellers; dietary consumption habits; purchase decision making and shopping habits; as well as appreciation for high-value products. Findings from this research study highlighted that black emerging middle-class consumers who migrated from rural areas of South Africa to urban areas of Gauteng remain circular migrators and do not see Gauteng as a permanent establishment for them. In addition, upon migrating to urban areas of Gauteng, these consumers continued to keep in contact with their rural-based relatives. These urban-based participants confirmed that they remitted groceries, money as well as furniture to their rural-based relatives. Lastly, the research findings confirmed that, upon migrating from rural areas to urban areas of Gauteng, the consumer behaviour habits of these participants changed. Their dietary consumption habits, their decision-making shopping habits, as well as their grocery shopping purchase habits reflected changes in their consumer behaviour patterns. In addition, it was identified in this study that the dietary consumption behaviour, decisionmaking shopping habits, as well as grocery shopping purchase habits of the rural-based relatives also changed. This was as a result of being influenced by the changing consumer behaviour habits of the urban-based participants who remitted contributions to them regularly. The findings of this research report have practical implications when pursuing strategies in emerging markets such as South Africa. In ensuring that the strategies deployed have factored an understanding of the local market and placing the consumers’ interests at heart, three key areas are proposed for consideration when developing emerging market strategies in this rural-urban context. Firstly, the decreasing rural-urban gap eminent in the changes to dietary consumption habits and grocery purchases that are similar between the two areas needs consideration. Secondly, the increasing “urban poverty”, contributed to by the limited access of basic services to the peri-urban communities, must be recognized. Lastly, the role aspiration plays in driving desire and subsequent acquisition of high-valued products by emerging middle-class consumers, is important.
The influence of cultural values on consumer buying behaviour: a case of the wine industry in South Africa
(2020) Chiswanda, Tafadzwa F
As of two decades ago, the South African wine industry has been experiencing an incremental decline in exports as a result of major social and environmental changes, as well as a global oversupply of wine. In light of these negative changes, the South African wine industry is now turning some of its focus towards the domestic market. The biggest challenge is that there is insufficient information on the South African wine consumer behaviour, especially the underlying cultural values. The purpose of this study was to review and understand the influence of cultural values (individualism/collectivism, masculine/feminine and extended/limited family) on wine consumers' buying behaviour based on the perceived influence of two extrinsic attributes (price and packaging) in South Africa. The study also briefly explored the impact of demographic variables (gender and age) on wine consumer behaviour. An online survey and pen-and-paper questionnaire were utilised to collect data from 151 wine consumers, primarily from Soweto and Sandton in Johannesburg. Data was analysed using multiple-linear regression conducted on IBM SPSS (Statistical Package for Social Sciences) version 25. The results of the study indicated that cultural values do have an influence on consumers’ purchase decisions. Consumers with individual and extended family cultural values were found to associate wine quality with price and packaging perceptions when purchasing wine, while consumers with collective and limited family cultural values did not believe there was a relationship between wine quality and the two perceptions (price and packaging). However, the value of masculine/feminine was not supported. The demographic variables did not show an impact on purchasing intent.
Emerging technologies for technological and economic catch-up: the case of nanotechnology in South Africa
(2020) Simate, Geoffrey Simate
In a speech “There is plenty of room at the bottom” by Feynman (1959) the concept of nanotechnology was born, though the term itself was coined by Taniguchi (1974) later. Today, the world is witnessing unpreceded technological changes via nanotechnology which have affected every industry. Nanotechnology-based technologies have primarily continued to create a multitude of new processes and products that have substantially advanced the quality of life globally. In terms of objectives, firstly, this study sought to establish if South Africa is creating technological and economic capabilities for catch-up, in general, and in nanotechnology, in particular. Secondly, the study looked at whether nanotechnologybased technologies (i.e., water treatment and medical applications) have facilitated technological catch-up, and subsequently, economic catch-up in South Africa. Nanotechnology being an emerging technology is considered by many scholars that it can offer windows of opportunity which are able to allow latecomer nations to catchup with the technologically and economically advanced states. The objectives of the study were investigated through quantitative methods, and the study used secondary data from government and institutional policy documents to assess technological and economic capability creation in both general terms and in nanotechnology. The evidence from a critical analysis of the policy documents shows that South Africa has invested heavily in capability building institutions such as the national innovation system (NIS) so as to boost its technological and economic development. The NIS is a key concept which represents a country’s collective efforts towards advancing innovation (Manzini, 2012). It is ideally the network of institutions in the public and private sectors whose activities and interactions initiate, import, modify and diffuse new technologies (Freeman, 1989). The six functions of the NIS and the four mechanisms for knowledge flow were considered as the capability building blocks for innovation in South Africa and thus were used to operationalise the NIS. The six functions of the NIS according to the OECD (1999) include (1) technology and innovation policy formulation (2) financing R&D (3) performing R&D (4) promotion of human resource development (5) technology diffusion; and (6) promotion of technological entrepreneurship. The four mechanisms for knowledge flow include (1) joint industry activities, (2) public/private interactions, (3) technology diffusion, and (4) personnel mobility (OECD, 1997). The study also used bibliometric information of scientific publications and patents as measures and/or indicators for knowledge generation and invention, and subsequently, technological catch-up. Ideally, scientific publications and patents provide information pertaining to the trajectory of the technology and the key areas of innovation that may be necessary for economic growth and economic development. Two nanotechnology-enabled fields, water treatment and medicine, were specifically studied. The two fields are believed to be enablers of the UN millennium development goals for developing nations. The BRICS countries together with the USA were analysed in the study. The USA was found to be way ahead of the other nations in the two fields in scientific publications, citations of the scientific articles and patents filed through WIPO during the 9 year period from 2010-2018. However, China surpassed the USA on a year-by-year basis in nanotechnology enabled water treatment processes and/or products after 2016. The rest of the BRICS nations were found to be far below the performance of the USA in the two fields in both a 9-year period and on a year-by-year basis. An interesting observation of the study is that there were more patents in medical fields than in water treatment. This trend is attributed by some scholars to intensive R&D in pharmaceutical industries than in any other industry. It was also observed that firms and/or universities were significant patent applicants in both fields whilst there were fewer individual applicants particularly in medicine. One significant capability building strategy that was accessed in the study is collaborations amongst the studied nations. There are many benefits of collaborative working relationships including enhancing the quality of work undertaken and many more other advantages. Both nano-based water treatment and nanomedicine results had strong evidence that showed that collaborations maximized scientific research publications. Surprisingly, the collaborative results in scientific publications for South Africa with other BRICS nations was very low despite having a number of MoUs that encouraged R&D collaborative programmes amongst themselves. It was expected from the study to find that nanotechnology cuts across the boundaries of various traditional fields of study within water treatment and the medical field. This is a clear evidence that nanotechnology has an inherent capability to unlock new and diverse opportunities in various fields. Sales and /or market data was used to represent the economic impact of nanotechnology related products and/or processes. Unfortunately, data on assessment of economic impact of nanotechnology enabled materials in water treatment and medicine is not easily available due to numerous obstacles including elements such as regulations, standards, health & safety issues and public perception. Therefore, this study only provided results of sales and/or market data for nanotechnology-enabled products and/or processes in general, and not necessarily water treatment and medical related nanotechnology-based products and/or processes. Compared to other BRICS nations such as Russia, India and China, the results showed that South Africa does not seem to use nanotechnology as a “window of opportunity” for catching-up economically despite significant investment in the field by the government. The USA is currently leading in the generation of revenue from nano-enabled materials (see Table 4.21).
Business executive coaching and female leaders’ authenticity
(2020) Belang, Thato
This research was inspired by observations on how female leaders in corporate organisations struggle to remain authentic, as they endeavour to navigate and succeed in these male-dominated corporate organisations. Authenticity is referred to as the ability of an individual to firstly be aware of them self and, secondly, always act in a way that is congruent with their core values. The aim of this research was therefore to explore the effect of executive coaching as a tool in the development of female leaders and how it can develop their authenticity in corporate South Africa. Qualitative research was used in this study, and data were collected through semi-structured interviews with 11 female leaders from different industries who had been coached. The findings were derived using thematic analysis. The key findings corroborated previous studies on the challenges and barriers that female leaders continue to face in corporate that hinder their success as leaders and prevent them from consistently showing up authentically. Challenges such as the unfair sub-culture that permeates in corporate organisations, lack of support structure for female leaders and gender stereotyping continue to stand in the way of the development of female leaders. Specifically, findings on executive coaching and enhancement of authenticity of female leaders revealed that executive coaching indeed is an effective tool that not only assists these leaders in heightening their self-awareness in their areas of development, but also helps them in being rooted to the core values and being authentic to establish their leadership presence in their respective organisations. With the current realities of the challenges and barriers that female leaders face in corporate organisations, transformational changes need to take place. It is recommended that the Human Capital function and top executives accentuate business executive coaching and create safe environments for perpetual engagements through deep and nonconventional female-centred dialogues; led by both males and females, so as to adequately and sustainably address the ungoverned corporate cultures.
A theoretical analysis of how the enhancement of social media utilization can improve customer experience in South African retail banks
(University of the Witwatersrand, Johannesburg, 2020) Rapitsi, Lebohang
Purpose: The banking industry has seen a rapid shift with the emergence of digital banks and non-direct competitors, as a result banks have responded with increased focus on the use of technology in efforts to defend market share. There is currently a lack of empirical evidence which relates to how the enhancement of social media usage by South African retail banks can improve customer experience. The purpose of this study is to examine empirical evidence to support the predictor effects of customer perception, service quality, customer satisfaction, with the aim of enhancing customer experience in retail banks by utilizing social media platforms. Design/Methodology/ Approach: The empirical study was of a quantitative nature, whereby factors pertaining to customer perceptions, service quality, customer satisfaction and customer experience were assessed accordingly. The sample consisted of 62 respondents from the various retail banks in South African. Various statistical tests were initiated in order to understand the relationships between the abovementioned variables. Findings: The results from the study indicate a positive relationship between customer satisfaction as a predictor of customer experience on social media platforms. The findings also suggest although there may be associations between service quality and customer perceptions with customer experience, they are however not significant. Implications: It is critical for retail banks to continue to seek innovative ways to improve customer experience. The benefit of utilizing social media platforms is that it allows for banks to establish valuable interactions with customers whilst leveraging information in order to understand the needs of their customers
The impact of human capital on youth entrepreneurship success: a focus on business development support beneficiaries in Gauteng
(2020) Khoza, Ntuthuko
South Africa is ranked globally as a country with one of the highest number of unemployed youth, with 40.3 per cent currently not in employment, education, or training. Small, Medium, and Micro Enterprise (SMME) development, specifically youth owned business development is one of the priority areas of government as SMMEs are viewed as key drivers of economic growth, innovation, and job creation, as well as advancement of inclusive growth in the country. The purpose of this study was to ascertain the impact of human capital factors namely entrepreneurial education, business development support (BDS) training, and entrepreneurial experience on youth entrepreneurship success, with a focus on youth entrepreneurs who are BDS beneficiaries in Gauteng. The study measured entrepreneurship success as profitability, revenue generated, as well as the number of employees within the venture. The research adopted a positivist and a cross-sectional approach due to the limited period. A survey questionnaire was administered, utilising the Qualtrics software, to the youth entrepreneurs through the Catalyst for Growth platform. The responses received totalled 661, of which 515 responses qualified for further analysis; 90 per cent of respondents were black youth entrepreneurs. The three hypotheses tested the effect of human capital factors, namely entrepreneurial education, BDS training, and entrepreneurial experience, on entrepreneurial success. The effect of entrepreneurial education was inconclusive while BDS training had a significant, strong and positive effect, and entrepreneurial experience was strong, positive but insignificant.