bluuebunny/crossref_metadata_2025 huggingface dataset:
Motorfietsbedryf: Geleenthede vir markontwikkeling
Authors: Lessing D.
Published: August 2019

Motor-cycle industry: Opportunities for market development The South African motor-cycle industry has experienced a constant decline in sales since 1981, that is, a drop from 84 000 units sold during 1981 to a sales figure of 24 509 units for 1985. This decline in sales poses a threat to the profitability and survival of the motor-cycle industry in South Africa. Up to this point in time the marketing efforts of the motor-cycle industry were mainly directed towards the white consumer market. In order to bring about an upturn in motor-cycle sales, this study looked into the feasibility of a marketing effort by the motor-cycle industry aimed at the black consumer market. The findings of the study revealed that blacks currently view motor-cycles as a dangerous means of transport, used mainly by high speeding dare-devils. However, by the compilation of an optimum marketing strategy, the motor-cycle industry should be able to overcome the above-mentioned objection of blacks against motor-cycles. The marketing mix strategy should reveal the following characteristics: (i) A marketing communication strategy which centres on the re-education of blacks, so that they perceive motor-cycles as an economical means of transport, requiring little parking space, instead of as 'heavy metal terrorists' with a horrifying accident record. (ii) A product offered to the black market which reveals its economical characteristics and, as preferred by blacks, is in the commuter class (200 cm3 - 500 cm3). (iii) A price that does not exceed R4000. (iv) The establishment of distribution outlets in white industrial areas with predominantly white sales personnel.
Conducting applied 'third-world' research in organizations: Some problems and solutions
Authors: Harari O. , Beaty D. T.
Published: August 2019

This article extends the argument put forward by Orpen (1985), that management researchers should consider the validity of the model used by applied research practitioners. Given the increasing complexity of issues affecting management and shop-floor workers in South Africa, this paper raises several problems of methodology that researchers applying the traditional 'scientific model' of research are likely to face. The authors draw on their personal experiences in conducting 'applied research', to suggest some solutions to the problems they have raised. The article concludes by suggesting that the 'scientific' model should be the foundation of applied research, but the architecture on top needs to be fitted to the messy and untidy complexities of real-world data-gathering.
An empirical evaluation of the use of video films in training: A behaviouristic analysis
Authors: Viedge C. , Taffinder P. A.
Published: August 2019

Considerable organizational resources are expended annually on training, yet little empirical research is undertaken to investigate the problem of transfer of training to the workplace. Video films are an integral part of many training courses and it is critical to evaluate the efficacy of such films in developing the intended skills. Within the operant behaviouristic perspective, an ABAB reversal experiment was conducted during four business game periods of a training course. The experimental objective was to assess the impact of the principles presented in a training film on the decision-making behaviour of six managers from an engineering research/production facility. A cue-board summarizing the decision-making principles presented in the film was unobtrusively introduced during the two 'B' phases of the experiment. Frequencies of the target behaviour were recorded by two independent raters across all consecutive 'A' and 'B' experimental phases. No functional relationship was found between the use of the decision-making principles and the introduction of the cue-board. In other words, despite the use of a cue-board to prompt decision-making behaviour, no transfer of training from the video-film to the analogue working environment of the business game was observed. Some implications of these results for employing video films in training are discussed.
Take-over announcements and insider trading activity on the Johannesburg Stock Exchange
Authors: Bhana N.
Published: August 2019

The objective of this study was to carry out an investigation into the abnormal return behaviour of a sample of 50 acquired companies on the Johannesburg Stock Exchange during the period 1976-1985. Insiders appear to take market positions on prospective take-overs approximately 40 trading days before the announcement, and there appears to be uncontrolled abuse of insider trading rules in the 15 days immediately prior to the take-over announcement date. Legally defined insiders were not responsible for the abuse of inside information relating to the proposed take-overs. It would seem that substantial insider trading is carried out through third parties in order to escape detection of the authorities. The JSE appears to be inefficient in reacting to the public announcement of a planned take-over, and Section 233 of the Companies Act which regulates insider trading in South Africa is clearly ineffective. Various deficiencies and loopholes in the existing legislation are identified and recommendations for amendments are suggested.
Die rol van persoonlikheidsfaktore by die aankoop van 'n motorvoertuig
Authors: Ackermann P. L.S. , Du Plessis P. J.
Published: August 2019

The objective of this study was to determine whether there is a relationship between the personality dimensions of consumers and the relative importance that they attach to evaluation criteria when buying a motor vehicle. The sample consisted of 181 white consumers mainly from metropolitan areas. The measuring instruments used in this study were a questionnaire relating to buyers of new and used cars, and the South African Personality Questionnaire. To establish the relationship between the relative importance consumers attach to evaluation criteria and their personality traits, Pearson's product moment correlation coefficient technique was used. Only 21 of the 325 correlations were significant at the 0,01 level.
Die relatiewe belangrikheid van verskillende evalueringskriteria by die koop van 'n passasiersvoertuig: 'n Vergelykende studie van mans en vroue
Authors: Du Plessis P. J. , Boshoff C.
Published: August 2019

A number of studies revealed that the role of women both as influencer and independent decision-maker is becoming increasingly important in the buying decision involving the purchase of a passenger vehicle. In today's highly competitive South-African motor vehicle market it is becoming vital that motor manufacturers pay greater attention to market needs - specially with regard to important market segments. This study analyses certain aspects of the market segment consisting of women. The null-hypothesis this study tested was that there are no differences between male and female consumers pertaining to the relative importance of evaluation criteria, when purchasing a passenger vehicle. By means of analysis of variance it was established that there are significant differences (P0,01) between men and women with regard to 15 of the 65 evaluation criteria. It was also found that there are 50 insignificant differences between the two groups. The hypothesis, as formulated is thus rejected, with regard to 15 of the evaluation criteria, in favour of the alternate hypothesis.
Monkey see, monkey do: A comparison of the attitudes of top and purchasing managers to corruption in business
Authors: Pitt L. , Nel D. , De Wit P.
Published: August 2019

This article describes a comparative survey of the attitudes of top and purchasing managers regarding the extent to which their attitudes towards corrupt and possibly corrupt business behaviour differs. The extent of perceived peer group participation in deviant activities is also measured. The results of the research indicate that while there is little or no difference between the groups regarding attitude and perceived participation measures, there is a marked difference between the attitudes for both groups and the perceived participation of their peers. The need for top management action on policy in this regard is emphasized.
An exploratory survey of transfer pricing in selected South African listed companies
Authors: Geboers A. A.P.C. , Uliana E. O. , Dugmore P. B.
Published: August 2019

The use of transfer pricing among certain sectors of the JSE is investigated by means of a questionnaire survey. Information regarding the transfer pricing methods used and the management control systems applicable to those prices was requested. Where appropriate, comparison with similar studies carried out in other countries was made. Findings are largely in keeping with the position generally suggested by the literature. However, one particularly interesting difference between this study and comparable surveys carried out overseas is that in South Africa the minimization of tax is ranked relatively lower as an objective of the transfer pricing system. Another notable finding is that while transfer pricing among the companies that indicated they were using it, appears to be at a sophisticated level, a large proportion of the companies surveyed indicated that they did not use transfer pricing even though they could have been expected to be operating on a decentralized basis.
A survey of definitions of small business in the southern African context
Authors: Du Plessis A. P. , Boshoff C. , Moolman P. L. , Radder G.
Published: August 2019

This paper reports on a survey of the definition of small business as perceived by various organizations involved in small business training and development. Participants were requested to define small business in terms of quantitative as well as qualitative criteria. The definitions provided by the survey respondents were compared with published definitions of small business as formulated by the Small Business Development Corporation (SBDC), the National Manpower Commission (NMC), J.G. Smith (one of the first authors who attempted to define small business), and the Small Business Advisory Bureau (SBAB). The definitions suggested by respondents indicate a lack of definitional consensus. Although no specific definition is suggested here, it is hoped that the information provided and the interpretation thereof may stimulate and encourage efforts to formulate a simple, useful, and widely accepted definition of small business in southern Africa.
Marketing ethics and the marketing mix: Managerial issues
Authors: Abratt R.
Published: August 2019

Marketing, more so than any other business discipline, has been criticized by people for hurting consumers, society as a whole, and other business firms. Deceptive prices, high advertising and distribution costs, high-pressure selling and unsafe products are common complaints. This article reviews some of the issues involved. It deals with marketing ethics and its problems and then discusses the role of ethics in the marketing mix. The article calls for marketers to adhere to ethical standards of conduct or face the consequences.
Price adjustments on the Johannesburg Stock Exchange for unexpected and dramatic news events: An empirical analysis
Authors: Bhana N.
Published: August 2019

The objective of this study is to determine whether companies listed on the Johannesburg Stock Exchange overreacted to unexpected favourable and unfavourable company-specific news events during the period 1970 - 1984. The JSE appears to be inefficient in reacting to the announcement of unfavourable news; economically significant abnormal returns up to one year following the event are observed. The JSE does not appear to overreact to news of a favourable nature, there is only weak evidence of short-term overreaction. The selling pressure caused by panic selling could depress prices well below levels justified by the unfavourable news. The magnitude of the overreaction to unfavourable news is sufficient to enable astute investors to outperform the market by taking positions in these securities. Knowledge of the pattern of market overreaction can also be of value to investors for transactions that are to take place anyway.
Simulation and the simulation language SLAM II as a systems analysis tool
Authors: Kruger P. S. , Lindeque P. , Adendorff K.
Published: August 2019

This paper provides a general introduction to the simulation technique and the simulation language SLAM II. The use of simulation modelling and in particular SLAM II is demonstrated by way of an illustrative example consisting of the building and manipulation of a simulation model of a materials handling subsystem of a beer brewing and packaging plant. The purpose of the model is to investigate the influence of the number of loading and unloading docks on various measures of system performance.
A comparison of actual and minimum wages in the iron and steel industry (1978-1983)
Authors: Hipkin I. B.
Published: August 2019

In 1983 two million employees in South Africa were subject to minimum wages in terms of industrial council or wage board legislation. Studies of wage determination have been hampered by the lack of knowledge of actual wage rates. This paper compares the wage rates as laid down by the Industrial Council for the Iron. Steel, Engineering and Metallurgical Industry with the wages contained in a national salary survey, the latter representing 'actual' market wages. A job evaluation system has been used as the basis of comparison between the minimum and market rates. Both minimum and actual wages display similar characteristics in that the lowest levels have received the greatest (real) increases over the period under consideration. The upper skilled levels have seen a decrease in wages in real terms, with increases in actual wages being lower than the rates at which the minimum rates have increased. Explanations are sought both from an economic and a socio-political point of view.
Testing for the significance of changes in television ratings
Authors: Meyer Denny H.
Published: August 2019

South African television ratings are obtained from the AMPS meter panel. This panel must be viewed as a complex non random sample. For such samples the effective sample size differs from the actual sample size. It has been found that, when equal weights are assigned to strata, the most reliable estimate for effective sample size can be obtained by considering every household as a sample cluster. This estimate of effective sample size can be incorporated directly into a test for significant rating change. For convenience this test is implemented graphically.
Corporate acquisitions and the integration of control systems
Authors: Owens Jay , Scott D. A.
Published: August 2019

In this article the various approaches adopted by large acquisition-intensive corporations in integrating control systems upon the acquisition of a small company are being investigated. Five matched pairs of acquiring and acquired companies meeting specific predetermined criteria were created, and detailed interviews conducted with key managers involved in the acquisition and subsequent integration process. A set of standard proceedings for integrating control systems are recommended following the analysis of the findings.
On estimating the risk that shareholders bear during hostile merger activity
Authors: Bradfield D. J. , Bowie D. C.
Published: August 2019

In this article a model is proposed for measuring the risk that shareholders bear during hostile merger activities. An empirical study on the failed Minorco-Consolidated Goldfields merger attempt reveals several insights on the additional risk borne by Minorco and Consolidated Goldfields shareholders. Risk statistics computed using the proposed model reveal that shareholders of both companies were exposed to additional risk as a consequence of the hostility of the merger activities. The evidence shows that the proportion of risk attributable to the hostilities increased by a factor of approximately five for both bidding and defending companies.
The agency origins of insider trading
Authors: Davidson Sinclair , Solomon David
Published: August 2019

Insider trading has been a topical issue in recent times. While the debate regarding insider trading usually extends to economic and ethical arguments in favour of or against the practice, in this article we attempt to ascertain the causes of the practice. The origins of insider trading are traced to the separation of ownership and control. It has been argued that insider trading is beneficial to minority shareholders and reduces the agency cost problem; this is shown to be fallacious. The authors conclude that insider trading is an agency problem and that the disciplinary mechanisms described in the literature do not inhibit the phenomena, indeed some of these mechanisms actually facilitate the occurrence of insider trading. This it is argued provides the rationale for government intervention and anti-insider trading legislation.Binnekringtransaksies het onlangs heelwat opspraak gewek. Die debat oor binnekringtransaksies bestaan hoofsaaklik uit die aanvoer van ekonomiese of etiese argumente vir of teen die praktyk. In hierdie artikel word gepoog om die oorsake van hierdie praktyk vas te stel. Die oorsprong van binnekringtransaksies word teruggevoer na die skeiding van eienaarskap en beheer. Daar is al aangevoer dat binnekringtransaksies tot die voordeel van minderheidsaandeelhouers strek, aangesien dit die agentskapsprobleem verminder, maar in hierdie artikel word aangetoon dat dit nie die geval is nie. Die skrywers kom tot die gevolgtrekking dat binnekringtransaksies 'n agentskapsprobleem is en dat die meganismes, wat volgens die literatuur hierdie praktyk aan bande behoort te le, dit in werklikheid vergemaklik. Daar word ook aangevoer dat die beweegrede vir optrede deur die staat, asook wetgewing om binnekringtransaksies te bekamp, hieruit voortspruit.
Mislukkingvoorspelling vir ondernemings, met inagneming van tydsdimensies
Authors: Olivier Pierre
Published: August 2019

Failure prognosis for companies with due allowance for time dimensions In the United States of America it was initially attempted to predict financial failure by means of compiling a failure-prognosis model consisting of a number of weighted ratios. The model developed was a general model which only examined one time dimension of failure, namely, differentiating between solvent and insolvent companies one year prior to financial failure. The model was applied, without any adjustments, in penultimate and prior years, without ascertaining whether the change in time dimension has an influence on the classification results of the model. A similar model was later developed for South African circumstances. This model had the same shortcomings. A possible problem, which was quite likely not taken into account in the compilation of the existing models, was whether a general failure-prognosis model provided the best classification results in all possible circumstances. In this I article endeavour to determine whether or not failure-prognosis models, which are compiled for specific circumstances, provide more accurate classification results than a general model. Failure-prognosis models were compiled separately for companies, for periods of one and four years preceding financial failure. The models were interchanged and it was found that results were unreliable when the incorrect model was applied. Models compiled to predict business failure within the first year, for example, did not fare well when applied to earlier years and vice versa.
The private sector's involvement in public policy: Issues and strategies
Authors: Lee R. H. , Bendixen M. T. , Sutherland M. M.
Published: August 2019

The private sector in South Africa has become increasingly involved in the public policy process, albeit reluctantly. Both the level of managerial expertise in this field and the academic understanding of this process are extremely limited. We carried out an empirical study on fifty business leaders in South Africa in order to develop a systematic understanding of the business community's involvement in public policy. In the first study of its kind, statistical analyses were carried out on both the private sector's public policy issue prioritization and strategy selection and usage patterns. The prioritization of selected strategies revealed that the business community had adopted a set of 'insider' strategies in order to influence the public policy process, reflecting a 'toenadering' in the relationship between the business community and government. The diversity within the private sector, of both the process and content of public policy involvement, is empirically documented via the use of correspondence analysis, resulting in the inherent structure of the private sector's public policy involvement being well represented in two dimensional space. The major differentiating factors being the choice between confrontational or 'insider' strategies and the choice between economic or socio-political issues. From this basis, a strategic management approach towards socio-political involvement for the business community is developed. This is based on the use of a matrix incorporating factors such as change processes, power bases, issue life cycles and resources within business organizations; leading to the selection of appropriate strategies in order to influence change in public policy. It is hoped that this article will assist South African management in the optimal allocation of resources to socio-political activities.
'n Behoeftebepalingsmetodologie vir die ontwerp van 'n bestuursinligtingstelsel in 'n bedryfsgerigte navorsingsonderneming
Authors: Bruwer P. J.S.
Published: August 2019

A requirement determination methodology for designing a management information system for a professional research organization. Information as a strategic resource becomes increasingly more important for professionally managed organizations. The research was done in an organization where scientific management was seen as the main objective of the organization. As a result, the management information system had to be improved and developed in order to accommodate the different levels of management and to provide accurate and timely decision-making assisted information. A conceptual model was developed to assist the developers in improving the MIS in order to ensure that the correct information would reach the different levels of management, as well as to provide in the needs of external information users. Four levels of users were taken into account according to the pyramidial structure, as well as external and internal information needs for the successful implementation of the MIS.Inligting as 'n strategiese hulpbron word in 'n toenemende mate al hoe belangriker vir ondernemings wat professioneel - ooreenkomstig die wetenskaplike bestuursbeginsels - bestuur word. In die artikel word 'n onderneming wat wetenskaplike bestuur as hoofdoelwit aanvaar, ondersoek. As gevolg daarvan moes die bestuursinligtingstelsel so verbeter en ontwikkel word ten einde die verskillende vlakke van bestuur van akkurate en tydige besluitnemingsondersteunende inligting te voorsien. In hierdie navorsingsprojek is 'n konseptuele model ontwikkel om die ontwikkelaars van 'n verbeterde inligtingstelsel te voorsien sodat die regte inligting die verskillende vlakke van bestuur sal bereik, en ook om die eksterne inligtingsgebruikers se behoeftes te bevredig. Die model kyk na die inligtingsbehoeftes van die vier verskillende vlakke van gebruikers volgens die piramiedestruktuur asook na eksterne inligtingsbehoeftes en interne faktore wat in ag geneem moet word vir die suksesvolle implementering daarvan.
Business ethics and the bandwagon effect: An analysis of downsizing in the South African industrial situation
Authors: Coldwell David A.L.
Published: August 2019

Downsizing has become a widely used managerial instrument for ensuring the continued profitability of organizations in adverse business/economic situations, both within South Africa and overseas. However, the ethical and business/economic implications of downsizing have not been extensively researched in the South African context. The aim of this article is to expose and analyze the ethical and managerial issues that underlie the downsizing process. It is suggested in this article that a macro, strategic solution to the downsizing problem is required and that piecemeal tinkering is ineffective. It is maintained that downsizing in the current South African industrial situation is neither ethical nor managerially prudent.
The Monday effect and the Johannesburg Stock Exchange: Revisited
Authors: Davidson Sinclair , Meyer Steven
Published: August 2019

The Monday effect is an anomaly that has defied explanation. It has been found to be present in major stock exchanges around the world. Bhana found evidence in favour of this anomaly in the share returns on the Johannesburg Stock Exchange (JSE). In this article the Monday effect on the JSE is reinvestigated in a later period. The methodology employed is superior to that of previous studies. It appears that the Monday effect is no longer present in the pattern of share returns on the JSE. The results of the article suggest that the original methodology creates a bias in favour of finding a Monday effect. Evidence in favour of the trading time hypothesis is found, indicating that no equity growth occurs over weekends.
The goals of manufacturing strategy, P.O.M. techniques and perceptions: A pilot study
Authors: Snaddon D. R.
Published: August 2019

Managers formulate, implement and monitor strategies to pursue their goals. Implementation is important and involves, amongst others, Production and Operations Management (P.O.M.) techniques. The purpose of this article is to study, by means of a limited sample, perceptual associations between goals of manufacturing strategy and P.O.M. techniques. An attempt is made to answer two questions in this article. The first question is which specified goals are independent of each other? The second question is which P.O.M. techniques are recommended for these independent goals? Bias and the definition of P.O.M. techniques create difficulties but pilot research indicates that some specified goals are perceived as independent. More investigation is required to verify this. Some techniques are identified with specific goals and this work should be expanded.
Consumer evaluation of perceived risks for goods and services
Authors: Bendixen Mike , Gault Graham
Published: August 2019

Perceived risk is known to be an important determinant of consumer behaviour. However, prior research has focussed on goods rather than services. The purpose of this exploratory research was to identify any differences between goods and services in terms of perceived risk and risk reduction strategies. Two new components of risk, namely specification risk and the risk of loss of control, were identified as being specifically associated with services. Empirical evidence gathered leads to the conclusion that as far as risk is concerned, a simple classification of products as goods or services is inadequate: an additional hybrid class comprising both goods and services is also necessary. These three categories of product are associated with different types of perceived ask. Also, risk reduction strategies were found to be dependent on product rather than on the type of risk.
The corporate uses of debt
Authors: Davidson Sinclair , Rapp Laurence
Published: August 2019

In this article we consider the use of debt by South African firms. There are two possible uses of debt: firstly, it is a method of raising finance and secondly, a method of corporate governance. Within the South African corporate environment it is not clear whether firms would use debt for both or either of these purposes. We are unable to find evidence in favour of Modigliani and Miller's proposition one or proposition two. It appears that firms do not use debt for corporate governance purposes and we present evidence that there could be an agency problem inherent within the structure of South African business.
Network organizations: The structural arrangement behind new organizational forms
Authors: Alvarez José L. , Ferreira M. Anton
Published: August 2019

This article elaborates the main meanings of the concept 'network organization' and the underlying structural arrangement behind most of the new organizational forms and the main alternative to the still dominant bureaucratic organizational structure. The concept is applied to four levels of analysis: macro economic and business systems; inter-organizational collaborative arrangements; intra-organizational structures; and informal intra-organizational social systems. Through this taxonomy, an attempt is made to disentangle the different meanings of the concept 'network organization'. Throughout, we seek to highlight the main variables that managers should take into account when making decisions and conducting operations in networks. The article commences with a brief historical overview of the evolution of organizational forms and the driving forces behind current development in the field.
The future challenges facing South African human resource management
Authors: Hofmeyr Karl B. , Rall P. Johan , Templer Andrew J.
Published: August 2019

In this article we set out to examine how human resource professionals view the challenges facing South African companies. The views of a representative sample of human resource professionals were obtained to find out, in particular, what changes they expect in human resources management (HRM) in the future and what priorities need to be set for successful human resources management in a changing environment. In terms of human resource management objectives, respondents indicate that currently the emphasis in their work is on efficiency, human resource development, and industrial relations. They believe the major objectives should, however, emphasize human resource development and facilitating change, with considerably less of their time being committed to industrial relations issues. In terms of human resource activities, highest priority is given to managing organization change, affirmative action, and introducing participative management. Currently they are spending most of their time on industrial relations activities and training. Perhaps surprisingly, not much attention is being paid currently to the activities of cross-cultural management, and community upliftment and involvement. In the research we also investigate the balance of human resource responsibilities between HRM and line management. Activities which are perceived to be line management responsibilities are performance appraisal and employee communication. Those which should be a shared responsibility include employee development and affirmative action. Most respondents believe that the rate of progress with affirmative action is too slow. Perhaps predictably, human resource professionals see the most important challenge facing commerce and industry in the next five years to be the human resource challenge: in particular the need to improve productivity, affirmative action, training and development, and managing the demands of unions. The skills needed by human resource professionals to meet the challenges are sound 'business skills' as well as 'people skills'. They also need sound business knowledge and qualities of adaptability, empathy and sensitivity. In particular they need to be able to play a change agent role in their organizations.
The philosophy behind self-managing work teams
Authors: Veldsman Theo H.
Published: August 2019

In recent times the work team, in contrast to the individual and his/her job, has been propagated as the most appropriate means around which to build the organization of the future. It is hoped that the use of the team as the basic building block of the future organization will release the desired synergy to meet the challenges posed by the new business order self-managing teams have been proposed as the pinnacle of the team-based organization. The purpose of this article is to discuss the philosophy behind self-managing work teams and indicate how they differ from traditional teams in organizations. Simultaneously an attempt is made to integrate the diverse literature on this concept in a conceptually sound but simple manner.
Self-employment and marriage: Costs and benefits
Authors: Haselau Cathy M. , Kasiram Madhubala I.
Published: August 2019

This article highlights the effect of self-employment in a marriage by examining both the costs and possible benefits that are brought to bear when the breadwinner is in self-employment. Specific aspects identified as having an impact on the marital relationship were: work-family conflicts; role-division; stress; motivation for the start up of the business; the structure of the business; financial management; and personality characteristics. Via the interview schedule, it was possible to glean in-depth information from both spouses in the marriage on the advantages and disadvantages of being self-employed. Finally, recommendations are made both for therapeutic and preventive interventions with the couple as well as for interdisciplinary communication.
Consumer perceptions of a perilous product: International tourism to South Africa
Authors: Bendixen Mike , Cranson Denis , Abratt Russell
Published: August 2019

Tourism can make a significant contribution to the development of South Africa by providing employment, contributing to foreign exchange earnings and by increasing economic activity. The aim of this study was to establish current perceptions, attitudes and orientations of foreign tourists towards post-apartheid South Africa as a tourist destination. A sample of 250 tourists were interviewed at London's Heathrow Airport. The results show that the South African tourism industry is faced with a multidimensional problem. It is a good example of a perilous or high risk product. However, with sound market segmentation and targeting, and proper planning, South Africa can have a vibrant and sustainable tourism industry. A unique way of segmenting tourist markets is presented. Specific recommendations are discussed in detail, which could aid all those involved in marketing a high risk product.
An empirical assessment of the extended service quality model
Authors: Nel Deon , Boshoff Christo , Mels Gerhard
Published: August 2019

The purpose of this article is to conduct an empirical assessment of the extended service quality model proposed by Zeithaml, Berry Parasuraman. The article provides a brief review of the gap concept as a measurement framework for service quality issues. This is followed by a description of the relationships in the extended service quality model and how it can be tested. The assessment consists of three steps. First, the internal consistency and the discriminant validity of the scales used to measure the latent variables of the extended service quality model are investigated. Based on these results an amended service quality model is fitted to the data. Finally, a revised structure for a more appropriate service quality model is suggested based on a structural equation assessment of an amended service quality model. The questionnaire was mailed to a total of 10 000 customers of a large national electricity utility in the United Kingdom. The total was divided into 5 000 each for business and domestic customers, which was again subdivided into 2 500 active users and 2 500 inactive users of the company's services. After elimination of incomplete questionnaires, a total of 1 860 questionnaires were used in the analysis, an effective response rate of 18.6%. The empirical results reported in this study suggest that considerable research is still required to enhance our understanding of the factors influencing service quality. Three concerns are the improvement of the psychometric capabilities of the scales used in this study, the search for unspecified constructs and antecedents which may influence individual gaps, and the unbundling of the internal gaps.
New product strategy: Key characteristics that distinguish leading innovators in selected large South African manufacturing industries
Authors: Davies Theresa-Anne
Published: August 2019

Product innovation has to be universally recognized as a central strategy for building market share and securing business success. The purpose of this exploratory research study was to attempt to identify key characteristics that distinguish leading innovators in selected South African Industries. Based on the findings from both the qualitative and quantitative studies, a profile emerges of successful companies that appears to distinguish them from less successful companies, and some guidelines are suggested in terms of the types of strategies that appear to be effective, the type of leadership required, and the skills needed to get product development undertaken successfully. One of the most interesting findings from the research is the observation that the large South African companies surveyed are not very innovative. The study concludes with some recommendations for further research into the strategic factors that contribute to innovation success.
The relationship between volatility, volume and open interest: Some evidence from the South African futures market
Authors: Smit E. V.D.M. , Louw M. W.
Published: August 2019

Using the methodology devised by Bessembinder Seguin, the relationships between volatility on the one hand and volume and market depth in the South African futures market are examined. Daily mark-to-market prices, trading volumes and open interest on six futures contracts traded on SAFEX over the period 1990 to 1994 are utilized. The evidence suggests that linking price volatility to total volume does not capture all information. When total volume is divided into expected and unexpected components, the latter is shown to have a more substantial effect on volatility. Furthermore, coefficients pertaining to open as well as unexpected open interest tend to be negative, implying that lower volatility shocks are associated with a given volume in deeper markets. It is further shown that positive unexpected volume shocks are associated with higher levels of volatility and that asymmetry exists, insofar as positive shocks have larger effects on volatility than negative shocks.
A note on local industry asset betas for cost of capital computations
Authors: Bradfield David J.
Published: August 2019

Based on the premise that portfolio betas are more reliable than individual betas, it is advocated that industry asset betas rather than individual betas be used when proxies are required in cost of capital calculations. In this article local industry asset betas are empirically estimated and contrasted to US estimates. The results reveal that not all USA industry risks are translatable to the SA context and thus attempts should be made to estimate industry risks locally for cost of capital computations.
Culture-specific management and the African management movement: Verifying the premises
Authors: Thomas Adèle , Schonken Johann S.
Published: August 2019

Lessem's proposals which purport to predict the key differences between black managers and white managers in South Africa have been widely adopted by writers within the African management movement. This article investigates the validity of Lessem's relevant proposals. The research found no support for the use of Lessem's model in helping to define African management, but the data were indicative of the prevalence of two forms of organisational culture, reminiscent of Schein's 'operator culture' and Handy's 'club culture', in the organisations researched, and supported the view that organisational culture can have a strong modifying effect on the values of employees, regardless of national or ethnic culture.
Transformational leadership and organisational effectiveness in the administration of cricket in South Africa
Authors: Ristow A. M. , Amos T. L. , Staude G. E.
Published: August 2019

After years of isolation from the international sporting arena, South African sports teams have recently achieved much success. This article is concerned specifically with managing for organisational effectiveness in South African cricket. According to the theory of transformational leadership, there should be a positive relationship between this style of leadership and organisational effectiveness. The Multifactor Leadership Questionnaire was used to collect information about leadership while data for organisational effectiveness, the dependent variable, was collected using the Effectiveness Survey for Cricket Administration. Most of the results regarding the relationship of the transformational leadership factors and organisational effectiveness were significant. On the other hand, most of the results regarding the relationship of the transactional leadership factors and organisational effectiveness were not significant. The overall results provide general support of Bass' (1990) argument of the universal application of the transformational leadership theory.
Identifying indicators that can play a meaningful role in promoting creativity in SMEs: A South African study
Authors: Maas G. J.P. , De Coning T. J. , Smit E. V.D.M.
Published: August 2019

This study focused on identifying indicators that can play a meaningful role in promoting creativity in South African small and medium-sized enterprises (SMEs). Seven indicators of creativity for SME owners and four for the SME organisation were identified. The present profile of South African SME owners does not correspond with these indicators providing some clues to the lack of creativity in the SME sector.
Factors influencing general practitioners in the prescription of homeopathic medicines
Authors: Abratt Russell , Lanteigne Julie
Published: August 2019

This study examines the factors influencing general practitioners' prescription behaviour. It differs from previous studies in that the subject is homeopathic medicines and not pharmaceutical drugs. The literature indicates very particular behaviour patterns of doctors prescription behaviour. The present study provides evidence which contradicts the previous studies. There is thus evidence that what applies to the prescription of ethical pharmaceutical drugs does not apply to the prescription of alternative homeopathic medicines. It follows that marketing practices for alternative medicines should differ from those used by pharmaceutical companies.
Recurrent Artificial Neural Networks (RANN) for forecasting of forward interest rates
Authors: Bensaid Amine , Bouqata Bouchra , Palliam Ralph
Published: August 2019

There are numerous methods for estimating forward interest rates as well as many studies testing the accuracy of these methods. The approach proposed in this study is similar to the one in previous works in two respects: firstly, a Monte Carlo simulation is used instead of empirical data to circumvent empirical difficulties: and secondly, in this study, accuracy is measured by estimating the forward rates rather than by exploring bond prices. This is more consistent with user objectives. The method presented here departs from the others in that it uses a Recurrent Artificial Neural Network (RANN) as an alternative technique for forecasting forward interest rates. Its performance is compared to that of a recursive method which has produced some of the best results in previous studies for forecasting forward interest rates.
Evidence-Responsive Health Training to HIV/TB Risks in Namibia
Authors: Rennie Timothy , Chipeio Melody , Udjombala Bubbles , Kraeker Christian , Hunter Christian John
Published: August 2019

Training health-care students in settings with high-prevalence HIV and tuberculosis (TB) presents a challenge to reduce the risk of infection during their clinical training while maintaining quality education. We sought to gauge the risk of exposure to HIV and TB and identify associated variables through two cross-sectional surveys of health students at the University of Namibia. In the HIV exposure survey, overall almost one-quarter of students (N = 367) reported exposure to HIV—most often needle-stick injury—with a much higher rate reported in senior years (73% in year 6). One in 10 students responding to the TB survey were found to have been exposed to TB (N = 290). Regression analyses suggested that time-related factors were a common predictor of risk of both HIV and TB in this setting. We consider that the overall exposure rate to HIV and TB was high, suggesting that training could be improved to reduce the risks of exposure.
Epidemiology of Dengue, Chikungunya, and Zika Virus Disease in U.S. States and Territories, 2017
Authors: Adams Laura E. , Martin Stacey W. , Lindsey Nicole P. , Lehman Jennifer A. , Rivera Aidsa , Kolsin Jonathan , Landry Kimberly , Staples J. Erin , Sharp Tyler M. , Paz-Bailey Gabriela , Fischer Marc
Published: August 2019

Dengue, chikungunya, and Zika viruses, primarily transmitted by Aedes species mosquitoes, have caused large outbreaks in the Americas, leading to travel-associated cases and local mosquito-borne transmission in the United States. We describe the epidemiology of dengue, chikungunya, and noncongenital Zika virus disease cases reported from U.S. states and territories in 2017, including 971 dengue cases, 195 chikungunya cases, and 1,118 Zika virus disease cases. Cases of all three diseases reported from the territories were reported as resulting from local mosquito-borne transmission. Cases reported from the states were primarily among travelers, with only seven locally acquired mosquito-transmitted Zika virus disease cases reported from Texas (n = 5) and Florida (n = 2). In the territories, most dengue cases (n = 508, 98%) were reported from American Samoa, whereas the majority of chikungunya (n = 39, 100%) and Zika virus disease (n = 620, 93%) cases were reported from Puerto Rico. Temporally, the highest number of Zika virus disease cases occurred at the beginning of the year, followed by a sharp decline, mirroring decreasing case numbers across the Americas following large outbreaks in 2015 and 2016. Dengue and chikungunya cases followed a more seasonal pattern, with higher case numbers from July through September. Travelers to the United States and residents of areas with active virus transmission should be informed of both the ongoing risk from dengue, chikungunya, and Zika virus disease and personal protective measures to lower their risk of mosquito bites and to help prevent the spread of these diseases.
Fenologia reprodutiva do estrato arbustivo arbóreo em área de Cerrado da Reserva Biológica de Mogi Guaçu, SP, Brasil
Authors: Fidalgo Adriana De Oliveira
Published: August 2019

A fenologia reprodutiva de arbustos e árvores de uma área de Cerrado da Reserva Biológica Mogi Guaçu (22°10’S; 47°11’W) foi estudada de setembro de 2009 a maio de 2013. Em um transecto de 900 m2, os indivíduos foram marcados e o número total de flores e frutos estimados mensalmente. Os dados foram analisados usando estatística circular para determinar os períodos de maior intensidade de floração e frutificação na comunidade, de acordo com seus modos de dispersão. A floração na comunidade ocorreu entre outubro e novembro. A frutificação foi distribuída continuamente ao longo do ano, com valores de r até 0,3. No último período de observação, a frutificação foi mais intensa no mês de dezembro, provavelmente devido às espécies zoocóricas. Considerando as três famílias principais, Myrtaceae floresceu e frutificou entre agosto e setembro, Malpighiaceae floresceu em novembro e frutificou entre dezembro e janeiro, e as Vochvsiaceae floresceram em janeiro e frutificaram em março. Em geral, a comunidade teve como principal característica a fraca sazonalidade de sua fenologia reprodutiva. No entanto, os eventos reprodutivos tenderam a se concentrar nos meses mais quentes do ano.