Wits Business School (ETDs)
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Item Currency Volatilities of BRICS Countries: The Impact of Commodity Prices, Interest Rates and Geopolitical Risks(University of the Witwatersrand, Johannesburg, 2024) Luo, Heng; Odei-Mensah, JonesCurrency volatility in emerging markets is an interesting topic for managers, investors, and regulators. This study investigated the currency volatility of the five BRICS nations, examined the risk sources of the BRICS currencies and observed the connectedness of their currency risks, in the context of the COVID-19 pandemic, Russia-Ukraine war and current interest rate hikes, using data spanning between September 2011 and September 2023. The ARDL model was the main econometrics approach applied for identifying the long run and short run currency volatility determinants. In addition, Quantile Regression was adopted to observe the currency markets’ tail behaviours. The research has three major findings. Firstly, the research confirmed that interest risk, commodity risks, geopolitical risk, and economic policy uncertainty are the risk sources of BRICS nations’ currencies, especially when volatilities are at high levels. Additionally, the research provided support for spillover of the commodity market, the USA’s geopolitical risks and economic policy risks to the BRICS’ currency markets, and the volatility spillover across BRICS currency markets. Finally, the study revealed the shock evolution trend of Chinese RMB, with accelerating impacts of US geopolitical risk, US and home economic policy risk, and oil price exposure on RMB’s volatility. Overall, the heterogeneity of BRICS nations’ currency markets responding to external shocks, and the asymmetry of the connectedness of BRICS currency markets, were important implications of the research. The findings are crucial for investors and policy makersItem Exploring the role of social media influencers and brand ambassadors in influencing purchase intention(University of the Witwatersrand, Johannesburg, 2024) Da Fonseca, Helen; Saini , YvonneThis study investigates the comparative influence of social media influencers and celebrity brand ambassadors on purchase intention within the South African cosmetics industry, specifically targeting millennial and Generation Z consumers. Grounded in the Source Credibility Model, the research examines how credibility, trustworthiness, and expertise shape consumer decision-making. Social Media Influencer-Driven Purchase Intention (SIPI) and Brand Ambassador-Driven Purchase Intention (BAPI) were introduced as higher-order constructs to evaluate and compare which type of endorser has a stronger influence on overall purchase intention. A Structural Equation Modeling (SEM) methodology was used to analyse survey data collected from 130 respondents. The findings indicate that both Social Media Influencer-Driven Purchase Intention (SIPI) and Brand Ambassador-Driven Purchase Intention (BAPI) influence consumer purchase intention, with celebrity brand ambassadors exerting a more substantial effect due to their higher perceived credibility and expertise. Celebrity brand ambassadors were shown to play a pivotal role in enhancing consumer trust and confidence, making them more effective in driving purchase behaviour compared to social media influencers. These insights offer strategic guidance for marketers and brands looking to refine their influencer marketing strategies to better resonate with the evolving preferences of millennial and Generation Z consumers in the South African market.Item How Diversity and Inclusion May Transform South African Commercial Property Organisations at Top Management Level(University of the Witwatersrand, Johannesburg, 2017-08) Motshegare, Reabetswe Regina; Levy, DeborahThe purpose of this report is to outline contemporary transformation frameworks that emphasise diversity and inclusion and how the latter may likely transform Growthpoint Properties South Africa (Growthpoint S.A). The main focus of the consultancy report is to compare and contrast traditional transformation methodologies and contemporary diversity and inclusion methodologies as strategies to assist Growthpoint S.A transform its senior and executive management. The propositions are that; an effective transformation strategy for Growthpoint S.A is one that focuses on identification; inclusion; attraction; diversification and retention of key talent at senior levels. Furthermore, that once diversity and inclusion interventions are implemented, there will be transformation at senior and executive levels. Out of 15 executives in the management team, six representatives were interviewed. The limitations highlight that the majority of participants are South African and may have certain biased perceptions about the topic as opposed to the rest of the participants, who are foreign nationals. The methodology focuses on a thematic analysis and four themes namely: leadership; corporate culture; strategies and communication are identified. Following in-depth discussions, six recommendations are provided. These include 360-degree feedback; diversity and inclusion workshops; introduction of a diversity and inclusion forum; KPI’s that measure diversity and inclusion targets; workplace enhancement programmes that focus on diverse candidates and lastly, robust succession plans. The role of the researcher as a professional Human Resource Business Partner ensured that any work dealt with is approached ethically, and the researcher’s ability to do this ensured quality, reliability, validity and effectiveness of the research.Item Dynamic capabilities in strategy formation and knowledge conversion in Zimbabwean organisations(University of the Witwatersrand, Johannesburg, 2023) Kagondo, Brian Victor Tinashe; Carmichael, TeresaThis qualitative research study adopts a Strategy-As-Practice approach to theorise organisational strategy formation and knowledge conversion processes. Using the theoretical lenses of Contingency Theory and Institution-, Resource- and Knowledge- based views, the study explores the dynamics of the interactions between organisation systems and people activities in strategy formation. The research context is Zimbabwe, a developing country with high literacy levels but has traditionally been marred by poor institutions and high levels of regulation. The research adopted a generic qualitative research design with triangulated interviews, documents, and a review of records. Data was collected from 13 participants using semi-structured interviews. The participants were senior management and employee representatives who were purposively selected from large organisations from each agriculture and tourism sector, two industry institutions, and one consultant from each sector. This was supplemented with data from documents, records, and minutes of strategy meetings and organisational processes. The findings suggested that: a) While the strategy formation process is formalised, structured and well recorded, the praxis is instead to follow the expectations of tradition and of stakeholders, which produces aesthetically compliant blueprints which are archived; b) Organisations abide by tenets of Contingency Theory in their wish to establish the best fit between internal and external environments. However, they tend to achieve the fit through random and often chaotic systems that feed off the tacit capabilities of individuals or views of managers in positions of power and authority; c) While managers enlist strategy consultants, ‘politically correct’ institutions and specialist technical advisors in sensing the environment, it is the firm owners that direct the seizing and configuration decisions and determine the ideal culture and strategies; d) Tacit knowledge among shop-floor employees is a key but poorly tapped intelligence source, as management elects to preserve the privilege of strategising. Brian V T Kagondo, Stud No. 1316671, PhD Thesis - WBS Page | iii The study concluded that due to an overriding desire for perceived political and procedural correctness, there is fractured and inconsistent understanding and interpretation of the strategy formation processes and strategic outcomes. Strategy- making in Zimbabwe is not absolutely defined and, therefore, is positioned between deliberate and emergent. Organisations navigate the context through turbid harnessing of internal social dynamics, individuals’ tacit knowledge and a broader range of stakeholders. The study makes two theoretical contributions. In the Knowledge-Based View, the study proposes a review of the assumptions to include that tacit knowledge in its pure form is intrinsic and unshareable. Therefore, individuals may only transfer and share those skills they have conscious control of and voluntarily wish to impart to others. To the Institution Based View, the study proposes; the isolation and recognition of the owners or founders of organisations as a distinct Institution that falls in a realm between the external and the internal environments of the organisations. These founders or owners (and sometimes through their representatives, the Board of Directors) are not just advisors but are actually definers of the organisation's culture, mission and broader goals. Management are therefore mere implementers of the institutionalised practices. This challenges the traditional theory, definition and role of management to imply that they are not deciders, planners, organisers and controllers but are simply administrators.Item External Factors Influencing the Sustainability of Social Entrepreneurial Ventures in South Africa(University of the Witwatersrand, Johannesburg, 2020) Govender, Ramona; Murimbika, McEdwardSocial entrepreneurship is increasingly seen as a solution in addressing some of the social ills in the world. However, in order for the social enterprises to be more effective there is a need for them to be sustainable, particularly in terms of financial sustainability. Social enterprises that are financially sustainable are usually better able to create social value. The study sought to investigate the contributing factors towards social enterprise (SE) venture sustainability in South Africa using Cape Town as a case study. In doing so, quantitative research was conducted, with data being collected from the sampled social enterprises using an online survey. In this research it was found that, while government assistance was important, it was not significant in determining a social enterprise’s performance. The research also found that high social innovation improves a social enterprise’s access to philanthropic venture capital. In this regard, high social innovation was also seen to have a positive effect on social enterprise performance. The research thus concludes that social innovation is an important contributor to the sustainability of a social enterprise. The study offers updated information and adds to the theory on social enterprises in South Africa which is useful to prospective social entrepreneurs seeking to structure such organizations. In addition to this, the new knowledge and new insights will help government and civil society policy makers to formulate policies that can encourage social entrepreneurship in the country, especially with regards to funding. The study also offers useful insights on social innovation and emphasises its importance within the social enterprise context.Item The Political Economy of Energy Regulation in the Coal Mining Industry of Emalahleni(University of the Witwatersrand, Johannesburg, 2023-06) Selebi, Elton Jimmy; Matshabaphala, ManamelaThis study explores the perspectives on the political economy of energy regulation in the coal mining industry of Emalahleni. It seeks to discuss whether there are adequate steps within the political and economic sphere that regulates the efficient supply of electricity. The goals of this study are to ascertain the extent of regulation and policy formulation in the coal mining business in Emalahleni, South Africa; examine the reasons for decision-makers’ inaction in promoting a sustainable energy transition in Emalahleni, South Africa, and to identify political channels and platforms that can garner public and/or political support to speed the region's transition to sustainable energy. This research draws upon theoretical discussions centred on the following: The Agency Theory, Classical Political Economy, Keynesian Economics, and the Political Theory of Governance. Informed by an interpretivist paradigm, the qualitative research approach will be employed to explore the political economy of energy regulation within the study area. A non-probability sampling approach through the use of judgemental sampling was used to select the research participants, and the research method utilised interviews through the distribution of a questionnaire. A sample size of 20 comprised individuals from mining organisations in Emalahleni, Department of Mineral Resources and Energy Officials, CGS, Petroleum Agency SA, COSATU, and the Department of Trade Industry and Competition. The study noted that the political system has an impact on the energy and coal regulation markets at Emalahleni. It is recommended that an efficient energy resource policy and local governance are required to address the challenges of increased energy demand and pollution in South Africa.Item Sustainability Financing and Investment in Integrated Waste Management: Implications for the Circular Economy in Ghana(University of the Witwatersrand, Johannesburg, 2023) Agyapong, Daniel; Tweneboah,GeorgeThe transition to a circular economy has been a major global developmental agenda, as reflected in the 17 Sustainable Development Goals (Agenda 2030). In line with this, Ghana has adopted the practice of integrating circularity into its development objectives to promote sustainability, particularly in the waste management sector, which has gained attention for its potential in efficient resource mobilization and access to secondary raw materials. However, despite policymakers integrating sustainability into the development framework, financing and investments in circular economy activities remain underexplored. Adequate financing and investments can transform waste streams into profitable projects and useful goods, such as recycling waste into secondary raw resources for further processing, recovering valuable resources like energy and precious metals, or converting waste into fuel or electricity through biological or thermal treatment. The study examined sustainability financing and investment and implications for sustainable development in Ghana. The overarching aim of the thesis is to investigate the factors influencing circular economy financing and investment, the impact of such financing on circular economy practices, and the broader implications for the waste management sector in Ghana. The study is structured into three self-contained empirical chapters, each addressing specific objectives through distinct analyses. Chapter Three examined the determinants of circular economy financing and investment supply, emphasizing the moderating role of the financial environment. Chapter Four assessed the effect of circular economy finance and investment supply on the adoption of circular economy practices in the waste management sector. Chapter Five examined the implications of circular economy practices on the performance of firms in the integrated waste sector.Item Enablers and barriers to effective strategy implementation in a South African financial institution(University of the Witwatersrand, Johannesburg, 2023) Zikalala, ZaneleStrategy implementation forms part of the broader concept and critical aspect of strategic management which is practiced across many organisations in South Africa. However, it has been found through the abundance of literature that most organisations put more emphasis, focus on strategy formulation, and neglect strategy implementation. The number of existing strategy formulation frameworks supports this view, while scholars have not reached a consensus on the most effective frameworks for strategy implementation. Based on the high failure rate on strategy implementation, ranging between 60% and 90%, this exploratory study will seek to understand factors impacting effective strategy implementation in a South African context for a financial institution. Qualitative research was undertaken to further explore this study, wherein data was collected through an electronic survey from employees within the financial institution who specifically work in the Strategy Enablement Office. The data analysis yielded findings that identified five key factors impacting strategy implementation: leadership and culture, strategy implementation, employee understanding, regular feedback, and organisational performance. Out of these factors, the findings indicated that regular feedback and employee understanding were considered significantly important to strategy implementation. Leadership and culture and organisational performance had a positive impact but were not significant, according to the data collected for a specific financial institution. The study confirmed the importance of strategy implementation and the key factors that lie under it; however, the study also revealed that the organisation will need to put more effort into senior leadership involvement and provide regular feedback to employees during strategy implementation. Therefore, some recommendations put forward are to ensure senior leadership’s greater involvement during strategy implementation and to be provided with training interventions in this regard to mitigate the risk of nonchalant behaviour by senior management during the implementation phase. The study contributes to helping teams working in strategy enablement across the organisation, to gain insights on which factors to focus on and which ones are potential blind spots during strategy implementation to improve organisational performance.Item Expanding and Enhancing Medical Testing Laboratories in rural areas of South Africa(University of the Witwatersrand, Johannesburg, 2024) Tshavhungwe, Tshifhiwa; Murimbika, McEdwardThis venture aims to establish medical laboratories in underserved rural areas of Vhembe district in Limpopo, South Africa in order to address the critical need for enhanced healthcare services in rural areas of South Africa. With a population of 1,653,077, Vhembe has about eight private labs in semi-urban areas, along with public hospital laboratories. The venture proposal is driven by the recognition of significant challenges faced by rural communities, including limited access to diagnostic testing facilities and prolonged turnaround times for test results. Limited access to laboratories impacts healthcare outcomes significantly (CDC, 2018). Healthcare laboratories aim to address this gap by providing advanced diagnostic services. The proximity of our labs to rural communities improves Turnaround Time (TAT) significantly, a crucial performance indicator for laboratories (Cassim et al., 2020). Local laboratories minimise reliance on external facilities, reducing transportation costs and logistical challenges as well as the need for sample referral which in turn improves TAT. This improves healthcare accessibility and streamlines diagnostic services (Coetzee et al., 2022)Item Utilisation of liquefied natural gas as energy by heavy-duty vehicles in South Africa(University of the Witwatersrand, Johannesburg, 2024) Tlalang, KgosietsileThe transport sector in South Africa significantly contributes to greenhouse gas emissions, with over fourteen percent of the total emissions attributed to it. The reliance on fossil fuels, particularly diesel, for vehicular road transportation exacerbates this issue. High operating costs per kilometre of diesel negatively affect the sustainability of heavy-duty vehicle operations. To address these challenges, a conceptual framework was employed to investigate various factors influencing the decision-making process to adopt LNG as an alternative fuel. Qualitative research methods were utilised to gain insights into the owners’ environmental awareness, economic considerations, and long-term sustainability goals regarding LNG adoption. The findings reveal a growing interest among heavy-duty vehicle operators in transitioning to LNG because of its environmental benefits, cost efficiency, and long-term sustainability prospects. Key stakeholders such as vehicle manufacturers, fuel providers, and logistics services are actively exploring LNG solutions to enhance fuel diversity, reduce emissions, and achieve cost efficiencies. Volvo Southern Africa, a major heavy-duty vehicle manufacturer, is leading efforts to provide environmentally friendly solutions to the industry. Similarly, some logistics services providers are undertaking pilot programmes to explore alternative energy technologies as part of their commitment to environmental sustainability. The research underscores the potential of LNG to transform the heavy-duty vehicle sector by offering a cleaner, more sustainable fuel alternative. Analysis of the estimated payback period and net present value demonstrates the economic viability of LNG heavy-duty vehicles compared to diesel counterparts. However, to realise the full potential of LNG adoption in South Africa, investment in infrastructure for importation and distribution is crucial. Additionally, concerns about potential government levies and taxes on LNG need to be addressed to encourage its utilisation