Faculty of Commerce, Law and Management (ETDs)

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    An expository analysis of the consequential loss (business interruption) policy in light of covid-19 and the UK and SA litigation
    (University of the Witswatersrand, Johannesburg, 2024) Spentzouris, Penelope; Vivian, Robert William
    The consequential loss (CL) usually referred to as the business interruption (BI) policy, although about 120 years old, has, until recently. not been subject to much litigation and therefore has had little benefit of judicial interpretation. On the other hand, it is one of the most complex of non-life policies. Things changed with the Covid pandemic, in that, the BI policy was subject to considerable litigation. About 2 000 cases were filed in the US with the litigation still ongoing at the time of the writing of this dissertation. The South African and UK courts litigated but on a different aspect of the policy, compared to the US. The US litigation involved the main policy whereas the UK and SA involved an extension to the policy. This extension does not form part of the US policies. The UK and SA courts relied largely on general legal principles of interpretation of contracts, applied to insurance contracts, to reach their conclusions. In so doing, the courts in these jurisdictions paid little attention to the context and construction of the BI policy taken as a whole, including the historical reason for its existence. Nor did the courts consider the issue of insurability to any detailed extent. It is also pointed out that the leading text book on this policy does not approach the policy in terms of fundamental principles. This dissertation systematically sets out the history, purpose, structure and interpretation of this policy, restating the policy in terms of its history and purpose. The dissertation sets out the lessons which can be learnt from the Covid-19 litigation. An analysis is made of the main policy and the extensions having regard for the various wordings of the BI policy. Finally, the possibility of developing a BI policy which may respond to a future event of a pandemic is considered
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    Influence of external funders on social enterprise business models: a causation-effectuation exploratory study
    (University of the Witwatersrand, Johannesburg, 2021) Njenge, Yandisa Lusapho; Myres, Kerrin; Terri Carmichael
    Social entrepreneurship research is a growing research field, growth that can also be seen in the practice of social entrepreneurship. Dominant literature in the field focuses on the definition of social entrepreneurship and the traits of the social entrepreneur and does not look deeply at social entrepreneurship practices and interactions with other institutions. To address these shortcomings in research, this study systematically analyses the dominant definitions of social entrepreneurship and proposes an all-encompassing definition. The study also focuses on the interaction between social enterprises and external funders, exploring how social enterprises implement business models and the influence that external funders have on the business model implementation. A qualitative study was used to answer the research questions by exploring the business model implementation in ten case studies. A total of 26 respondents were interviewed as founding social entrepreneurs, internal staff members or external funders. The study relied on theoretical propositions from the literature review to analyse the data inductively and this process resulted in within-case themes. Further analysis of the within-case themes resulted in five cross-case themes. What was of interest was how operating in a resource-constrained environment impacts business model implementation. The ten case studies interviewed displayed structured or causal mechanisms in implementing their business models, which differs from the view that social entrepreneurs are effectual in behaviour. A theoretical framework with five propositions is put forward by this study. The theoretical framework propositions are: Social enterprises operate in resource-constrained environments and rely on external funding from inception. Social enterprises in resource-constrained environments approach external funders that do not expect a financial return. Social enterprises in resource-constrained environments implement business model dimensions that will lead to the achievement of the social mission. Externally funded social enterprises implement their business models in a causal manner. External funders not expecting financial returns apply limited influence on the business models of the social enterprises they fund. In accordance with the findings of this study, some suggestions for future research are put forward.