bluuebunny/crossref_metadata_2025 huggingface dataset:
Indicators of corporate financial success: Similar studies in South Africa and the USA, different results
Authors: De Wet JHvH , Erasmus Y.
Published: May 2017

Purpose: The aim of this study was to test whether findings by Johnson and Soenen (2003) regarding indicators of successful companies in the USA also apply to South African JSE-listed companies. Problem investigated: To date, no South African study has tried to determine the indicators of the financial success of local companies specifically along the lines of Johnson and Soenen's (2003) study. Determining whether the indicators found to be most highly significant in the US study also apply in South Africa would constitute valuable information in the South African context. Approach: The study tested the significance of the linear relationships between possible indicators of financial success and three measures of financial success for South African companies and compared them to the results of the US study. Findings: The findings revealed that the relationships are far less significant for South African companies. Value of research: The study highlighted the fact that indicators of financial success for US companies are not necessarily contributors to the success of South African listed companies and that models developed in different environments should therefore be used with caution when applied in South Africa. Conclusion: Further studies need to be undertaken in order to identify the most significant South African indicators of corporate financial success.
The role of culture with festival entrepreneurs
Authors: Kruger Martinette , Engelbrecht Lara , Saayman Melville
Published: May 2017

Purpose: The goal of the study was to determine the influence of cultural differences on entrepreneurship at the Grahamstown National Arts Festival. Problem investigated: The Grahamstown National Arts Festival is one of the most important arts festivals on the South African cultural calendar. Diverse entrepreneurs make use of the opportunities created by the festival. However, these entrepreneurs are heavily influenced by their cultural traits. This is because culture has an effect on the general decision making, standards, the behavioural patterns and ways of behaviour in SMMEs (small, medium and micro-enterprises). With the festival's significant annual growth and its economic value in mind, determining the role that culture plays on the individuals' motivation to embark on an entrepreneurial career is essential. How this influences the way they perceive their role at the festival is of vital importance to the festival marketers, organisers and even the South African Government (since it is largely responsible for creating a favourable entrepreneurial climate in the country). Design and methodology: Within the study, a distinction was made between different cultural groups at the Grahamstown National Arts Festival: White entrepreneurs, Black entrepreneurs, Indian entrepreneurs and Coloured entrepreneurs. ANOVAs were used to determine whether there were differences between these cultures. Findings and/or implications: The results of the study showed statistically significant cultural differences between these groups based on their socio-demographic characteristics, entrepreneurial attributes, motivation to attend as well as their perceived role at the festival. Originality and/or value of the research: This was the first time that research of this kind was conducted at a national arts festival in South Africa. The research has shown that by acknowledging and managing entrepreneurs' unique characteristics and traits represented by different cultural subgroups at the festival, a thriving entrepreneurial environment can be ensured. Conclusion: With the aim of achieving a successful entrepreneurial environment, factors that promote cross cultural entrepreneurship need to be an integral facet of entrepreneur-directed education, training and management as this will develop a positive orientation to entrepreneurship.
The supporting behaviour of generations towards non-profit organisations in Gauteng
Authors: Du Plessis Laureane , Petzer Danie
Published: May 2017

Purpose and objective: The purpose of this paper is to provide a better understanding of different generations' supporting behaviour towards non-profit organisations (NPOs). It more specifically focuses on uncovering the different methods with which the generations support NPOs; how frequently they support NPOs; the type of NPOs that they prefer supporting; and the reasons why they support NPOs. Problem Investigated: Non-profit organisations (NPOs) are facing greater challenges than ever before. They have to compete with a growing number of other NPOs for donations and volunteers. Their traditional support from Baby Boomers is declining as this generation grows older and supports NPOs to a lesser extent than before. NPOs are therefore compelled to pay more attention to younger generations as a possible donor base and source for volunteers. It is therefore critical for an NPO that wishes to survive and prosper to understand the supporting behaviour of the different generations in order to successfully target them to grow the donor and volunteer base. Methodology: A descriptive research design was followed. A self-administered questionnaire was fielded amongst a target population that included Baby Boomers, Generation X and Generation Y consumers residing in Gauteng who have supported an NPO in the previous year. Quota sampling was used to ensure that equal numbers of respondents from the different generations were included, while each quota was filled on the basis of convenience to collect 602 responses for analysis. Findings: The results reveal significant associations between the different generations and different supporting behaviours. Significant differences were also uncovered between the different generations and the reasons for supporting NPOs. The paper reveals a number of marketing strategies NPOs could follow to encourage supporting behaviour from the different generations. Value of the research: This research provides insights into the supporting behaviour of different generations towards NPOs and allows NPOs to develop more effective marketing strategies when targeting different generations. Conclusion: Since the results reveal a number of associations between generations and particular supporting behaviours as well as similarities and differences between the generations and reasons for supporting NPOs, NPO marketers should take these into account when targeting the different generations for support.
Research management and research output
Authors: Bosch Anita
Published: May 2017

Purpose: A study was conducted at two merged South African higher education institutions to determine which management factors, as identified in a literature study as well as through a factor analysis of survey data, were predictive of the dependent variable 'research output'. Problem investigated: Research output contributes to creating sustainability of knowledge of management sciences and therefore the active management of research is in the interest of progressive universities. Research management related activities are usually associated with measurable targets, detailed plans, rigorous evaluation and decisive action - all of which are observable (perhaps programmable) behaviour also referred to as tangible factors. Authors argue that the tangible factors of any successful institution can be copied, technology can be bought, and in theory you should have an instantly thriving research institution. It is, however, clear that although many institutions have exactly the same technology and structure as their successful competitors, they still fail to succeed in increasing research output. Design and Research methodology or approach: A survey was distributed to n=411 and yielded a 49.6% response rate. A confirmatory reliability analysis as well as a factor analysis was conducted. Findings/implications: The empirical model that was derived through a factor analysis strengthens the argument that both tangible and intangible factors exist in a research environment. Tangible and intangible factors play a different role in predicting research output. The tangible factors are predictors of research output for non-research-active academics. The theoretical research output prediction model highlights predictors such as 'professional activities' and 'individual skills and competence' for specific groupings. The theoretical model indicates that the factors that predict research output are largely intrinsic to a researcher but could also be supported by institutional research management.Value of research: Findings provide direction on the differences in managing research active and research non-active academics. Findings could influence institutional research management practices and policies. Conclusion: A large percentage of the knowledge capital of the global economy is managed and retained in a university setting through the management of tangibles and intangibles. Research management, of which impact is measured through research output, can only be optimised through a balanced combination of tangibles and intangibles.
The perceived effectiveness of employee share options as a mechanism of talent management in South Africa
Authors: Bhengu M. B. , Bussin M.
Published: May 2017

Purpose of the study: The purpose of the study was to explore the views of a sample of employees, industry experts, academics, and professionals to determine whether employee share options (ESO) are an effective talent management tool in the South African context. Talent management refers to the attraction, motivation, and retention of employees, as well as fostering their loyalty to the company. Problem investigated: This study sought to explore and provide empirical evidence as to whether or not ESO are an effective talent management strategy and remuneration tool. Design and methodology: A quantitative research design was used for this study. A survey was constructed by the researchers, using the main themes identified in the literature. A purposive sampling methodology was then employed, using the key informant technique. A total of 4 300 surveys were electronically distributed, and 256 completed surveys were received. Data were analysed using descriptive statistics. Findings: This study suggests that while ESO are seen as an important component of a total reward solution, they are not the primary drivers of the attraction, retention, and motivation of talent. Respondents indicated that the quality of the work environment and the presence of developmental opportunities are far more significant considerations. Furthermore, the majority of respondents (41%) indicated that they would prefer the allocation of share options to correspond with individual performance. Value of the research: The study suggests that employee reward preferences have evolved over time. Whilst ESO may have been considered a pivotal component of talent management in the late 1990s, today they are only a component of an expected total reward solution. The study demonstrates the importance of consistently reviewing the employee value proposition to ascertain the changing preferences of employees in order to accordingly adapt and maximise talent management. The study can be used as guidance in the design and implementation of share schemes. Conclusion: This study suggests that while ESO are perceived as an important component of a total reward solution, these are not the primary drivers of the attraction, retention, and motivation of talent. Respondents indicated that the quality of the work environment and the availability of developmental opportunities are far more significant considerations. The findings suggest that employee reward preferences have evolved over time. Today's employee has a desire to have reward linked to individual performance, which implies that employers will have to revisit their reward solutions as part of their total value proposition.
The relationship between selected variables and customer loyalty within an optometric practice environment
Authors: Van Vuuren T. , Roberts-Lombard M. , Van Tonder E.
Published: May 2017

Purpose: The purpose of the research that informed this article was to examine the relationship between customer satisfaction, trust, supplier image, commitment and customer loyalty within an optometric practice environment. Problem investigated: Optometric businesses need to adopt their strategies to enhance loyalty, as customer satisfaction is not enough to ensure loyalty and customer retention. An understanding of the variables influencing loyalty could help businesses within the optometric service environment to retain their customers and become more profitable. Methodology: The methodological approach followed was exploratory and quantitative in nature. The sample consisted of 357 customers who visited the practice twice or more over the previous six years. A structured questionnaire, with a five-point Likert scale, was fielded to gather the data. The descriptive and multiple regression analysis approach was used to analyse the results. Collinearity statistics and Pearson's correlation coefficient were also calculated to determine which independent variable has the largest influence on customer loyalty. Findings and implications: The main finding is that customer satisfaction had the highest correlation with customer loyalty. The other independent variables, however, also appear to significantly influence customer loyalty within an optometric practice environment. The implication is that optometric practices need to focus on customer satisfaction, trust, supplier image and commitment when addressing the improvement of customer loyalty. Originality and value of the research: The article contributes to the improvement of customer loyalty within a service business environment that could assist in facilitating larger market share, higher customer retention and greater profitability for the business over the long term.
A case study on centralised securities depository for equities market in emerging countries in the Far East
Authors: Field M. , Van der Wal R. W.E.
Published: May 2017

This report has analysed the effect that a Centralised Securities Depository (CSD) for equities will have on the securities industry in the emerging countries of the Far East. The first part of this report dealt with the securities industry and its environment and identified the most important factors influencing the industry. In addition, the experiences of custodian banks in selected Far Eastern countries were ascertained in relation to the establishment of CSDs in these countries. From this base, using available data and assisted by various experts, the most likely trends have been used to predict the effect that a CSD for equities will have on the securities industry in South Africa.
Employees in Total Quality Management
Authors: Matlhape M. G. , Lessing N.
Published: May 2017

Companies have become very disillusioned with Total Quality Management (TQM) as a solution to their quality related problems. Part of the problem has been that companies' expectations from TQM is as a solution to their existing problems rather than as a new philosophy towards creating value for shareholders, employees, and customers. Employee involvement is usually the element in the TQM philosophy that is most difficult to manage. Central to employee participation within the TQM philosophy is teamwork. In the attempt to facilitate total quality management, this article explores specific South African challenges to achieving this. These areaffirmative action and divers ity management skills shortages, training and development low levels of employee well-being. Working with people requires fundamental understanding of the uniqueness of each individual with their own identity and set of preferences. It also requires an understanding of teams and the mechanisms of making a group of individuals work well or poorly together. This will assist managers to realise active participation, quality output from their workers through individualised, and team based motivational processes.
Customers' evaluation of service
Authors: Tsosa J.
Published: May 2017

The analysis on the aspect chosen will provide an understanding and expand more on the strategic thinking that impact on corporate image on quality, customer satisfaction and loyalty for customers with varying degrees of service expertise.
The depletion of the human resources pool in South Africa
Authors: Du Preez J.
Published: May 2017

The brain drain has become one of the dominant realities within the South African economy. The official emigration statistics from South African sources inadvertently minimizes the seriousness of the threat, but emigration figures received from foreign countries are indicative of the size of the problem. Emigration, however, is not the only cause for the depletion of the human resource pool. Internal migration, pseudo-emigration and the influx of unskilled workers also negatively effect the composition of the human resource provision in the country. Murder, HIV/AIDS and related diseases severely impact industry and will increasingly contribute to the brain drain. A radical reduction of the skilled work force and a dramatic shift in the composition of the human resource pool towards unskilled labour negatively impact on industry and inhibits South Africa's ability to compete effectively in an increasingly global market.
Leadership in the value chain
Authors: Berndt A. D.
Published: May 2017

The value chain is a term that is widely used to describe the activities of the organisation. The question that can be posed refers to the effect that the knowledge of the value chain has on the organisation. It is of little benefit if the knowledge of the value chain does not translate into a tangible benefit for the organisation. The contribution of the value chain refers to the leadership and management effects within the organisation through the developm ent of a value proposition and the commitment thereto for all the activities of the organisation. The article examines the value chain concept and the effect that it can have on the development of strategy and leadership styles.
Managing change in Higher Educational Institutions in South Africa: Some challenges
Authors: Froneman L.
Published: May 2017

Higher Education has a vital role in developing an internationally competitive economy, a more affluent society and a sturdy democracy. The newly released National Plan for Higher Education in South Africa should recognise the current social and economic status in the country to realign its mission, and to reconsider the location and target audience of the various institutions in the country, to optimally serve the educational needs of the communities. The proposals in the National Plan, however, attempts to attain in a few years what other stabilised countries took years. That poses major challenges to education management. The aim of this paper is to evaluate some aspects of the managerial skills in the national education authorities. By analysing the National Plan, and testing the views of a number of teaching staff, the conclusion is that there are serious doubts regarding the management acumen in the educational leadership and that various important aspects are left out in the Plan.
Paradigm shifts and other prerequisites to facilitate the institutionalising of strategy in South African organisations
Authors: Kruger S.
Published: May 2017

South African organisations must undergo a mind shift and adhere to certain prerequisites to survive and be successful. It is evident that companies not changing their mindsets will not survive and be able to create a sustainable competitive advantage and to compete in world markets. Companies have to solve new problems with new paradigms, constantly create something better, something new, create new markets as opposed to increasing market share. The Third Wave development will lead to societal transformation. Moving to Third Wave will imply growth organisations to act like small entrepreneurial businesses that will have the benefit of speed and simplicity but also be able to implement strategy more effectively. Time is of the essence. South African companies have no other option but to move swiftly. The transformation from second to third wave is inevitable.
Corporate social responsibility: A pharmaceutical analysis
Authors: Theron D. J.
Published: May 2017

In the modern business environment organisations need to address two important aspects affecting their operations: the quality of management and the impact of their operations on the well-being of the society in which they operate. This dualism often results in economic, political and social dilemmas influencing the viability of organisations in general, and more specifically and recently, local and international pharmaceutical organisations operating in South Africa. This article considers the aspect of corporate social responsibility (CSR) in general and attempts to identify the social-related issues impacting on the pharmaceutical industry by means of content analysis - a research technique for making replicable and valid inferences from data. It furthermore describes the re-action of pharmaceutical organisations when confronted with such social demands, and finally analyses the management of CSR against four criteria of CSR. The article confirms the importance of managers to manage CSR towards society in a proactive manner. It furthermore suggests that the "hard" factors of strategic management and financial performance should be balanced with "soft" social/people issues. It also recommends that the industry should consider - and if applicable - endorse the concept of Issues Management as an approach to the proactive management of CSR.
Customer relationship management captures intellectual capital for increased competitiveness
Authors: Van Zyl C. R.
Published: May 2017

Today, with regards to tangible assets, the corporate playing field has become more or less level with competing organisations producing very similar products and services. The key differentiator for an organisation's offerings now depends upon an organisation's ability to capture and leverage intellectual capital (IC), and especially customer IC. Customers are an invaluable source of two kinds of IC: transactional and innovative. An organisation must implement customer relationship management (CRM) initiatives in order to develop and maintain good relationships with customers and in so doing, be able to capture IC. This IC will enable an organisation to be more responsive to new and changing customer needs and preferences and to be better able to customize products and services according to more specific customer profiles: ultimately leading to increased market share, profitability and overall strategic competitiveness. The purpose of this article is to determine how good customer relationships allow for the capture and subsequent leveraging of customer IC for increased competitiveness. In order to fulfill this purpose, the concept of CRM is explored as well as how CRM allows for the capture of both transactional and innovative capital. The strategic benefits of the application of customer IC are then explored, together with an exposition of the CRM implementation challenges facing those organisations that wish to implement a CRM program to capture and leverage customer IC for increased competitiveness. This exploration involved an examination of contemporary literature, theories and business cases and subsequently revealed that CRM is a vital discipline/philosophy that must be implemented by any organisation wishing to achieve greater market efficiency and competitiveness. This competitiveness can only be achieved through the carefully managed unlocking, sharing and leveraging of both transactional and innovative customer intellectual capital.
The University of Johannesburg merger: Academics experience of the pre-merger phase
Authors: Goldman G. A. , Van Tonder C.
Published: May 2017

Purpose of the study: The aim of this study is to gain an understanding of the merger experiences academic staff were exposed to during the pre-merger phase of the University of Johannesburg merger. Of particular interest is how these experiences translate into acceptance of the merger amongst academic staff. The study was borne out of the transformation of the higher education landscape in South Africa, which is typified by a spate of mergers between higher education institutions. Design/methodology/approach: As the purpose of the study was, inter alia, aimed at understanding the merger experiences of academic staff, the study was conducted according to an interpretive research paradigm, where interpretation of data calls for an insider perspective, in order to "see things through their eyes" as it were. In this regard, a qualitative methodology was employed. Findings: Findings indicate that academic staff members at the University of Johannesburg experience two distinct mental states during the pre-merger phase. Following the announcement of the merger, reaction and experience tend to be emotionally driven but as merging efforts become more concrete over time, this emotive state is replaced by a more rationally driven disposition. Implications: The distinction between an emotive and rational demeanour during the pre-merger phase of a merger affords managers and leaders the opportunity to plan change interventions in such a way that irrational, emotive responses and behaviour do not hamper progress in terms of merger implementation. In a more general sense, this study highlights the process of transition individual staff members pass through as they have to come to terms with the changes brought about by a merger. Originality / Value: The majority of merger literature, as well as change literature, focuses on the organisational context of change during a merger. Limited literature exists on the personal effects of a change event such as a merger. This study can thus contribute to the understanding of the personal effects of change during a merger. Furthermore, scant literature exists concerning mergers that are not driven by "conventional" economic motives. As the University of Johannesburg is this type of merger, this study presents the opportunity of gaining a better understanding of this type of merger.
Understanding shared services (Article 1 of 3)
Authors: Van der Linde T. N. , Boessenkool A. L. , Jooste C. J.
Published: May 2017

Purpose: Shared services is a viable business model that can be used by organisations to reduce costs and enhance efficiency and effectiveness in the organisation. The purpose of this trilogy of articles is to introduce shared services as a business model, and how to efficiently and effectively manage a shared services business unit. The purpose of the first article in the trilogy, introduces shared services as a business model, defines what shared services is, the transformation required to successfully implement a shared services business model, as well as the benefits that can be derived from implementing a shared services business model. Methodology: A comprehensive literature study was conducted in order to: - Define and describe shared services as a business model, - Compare shared services with centralisation and de-centralisation, - Determine and describe the transformation required to successfully implement shared services. Findings: In the article, a framework is generated to help organisations understand the business concept of shared services. This work has further potential: when applied correctly, there are both tangible and intangible benefits that can be accrued above cost savings. Implications: The findings of this article are important for organisations that are in the process of implementing or have implemented shared services, as it will assist the organisation in determining if shared services is the correct business model for them to implement. Value: This article provides an understanding of shared services and the business environment required to successfully implement a shared services business model. Value created by a shared services business model is further enhanced once the organisation has embarked on the successful implementation of a shared services business model, which is the primary objective of the second article, Implementation and continuous evolution in shared services.
Reflections on entrepreneurship education in African tertiary institutions
Authors: Bawuah K. , Buame S. , Hinson R.
Published: May 2017

It is a well-established fact that several developed economies grew on the back of small businesses and entrepreneurial development. It stands to reason then that the development of Sub-Saharan Africa (SSA) can also be catalysed by a rise in the number of entrepreneurs and entrepreneurial activity. In that general regard, this paper sought to investigate the state of entrepreneurship education in Sub-Saharan Africa (SSA). The method adopted in investigating this phenomenon was to critique the existing tertiary education entrepreneurship structures (where these existed at all) and to proffer recommendations where anomalies were discovered. It came to light that despite the critical importance of entrepreneurs in the economic development of a nation, Sub-Saharan African (SSA) countries have not fully developed strategies to tap this resource. What the countries have, are haphazard policies designed to promote the lesser or uneducated individuals in the informal sector into entrepreneurship. SSA educational leaders must find ways to structure their curricula so that all or most of their students can take courses in entrepreneurship. This is essential for SSA countries in order to move them from their present disadvantaged economic status, to greater economic and social development. A tentative syllabus for African tertiary education is proffered at the end of the article but its robustness needs to be tested.
The development and management of SMMEs by NEPAD
Authors: Mears R. , Theron D. J.
Published: May 2017

Purpose/objectives: The aim of this article is to demonstrate how NEPAD assists with the support and development of SMMEs in Africa. SMMEs can prove to be a major source of economic growth for African countries, but require much policy guidance as well as supporting resources. Problem investigated: The concern about the NEPAD strategy is not its vision, but the uncertainty of its implementation and the lack of involvement or capacity of most of the role-players. The problem of capacity building in SMMEs is addressed in this article. Design/Methodology/Approach: Drawing on research on NEPAD, SMMEs and related fields, the paper is mainly a literature review. It critically analyses the important role of NEPAD in the development of SMMEs in Africa. By drawing together the evidence on SMMEs, it generates a functional model for the strategic implementation of a plan to effect change through linkages or partnerships. Findings/Implications: Most SMMEs in Africa are found in informal rural areas, which tend to be smaller, have lower growth rates and have a limited local market and skills base. Any initiative for implementing SMME strategies in Africa needs to be a bottom-up approach form a "grass roots" level. This paper presents a functional "grass roots" approach to capacity building through change agents. Originality/Value: This article challenges the NEPAD strategy, which is a top-down approach. A microeconomic "grass roots" bottom-up approach to small and micro-enterprises is needed as well as financing to implement the model. Conclusion: It is concluded that the prospects for effective implementation are dependent upon the appropriateness, feasibility and desirability of strategies. In this regard, a "grass roots" approach for capacity building in terms of training, support services and knowledge management is suggested.
The cultural differences in time and time management: A socio-demographic approach
Authors: Venter F.
Published: May 2017

Purpose/Objectives: The aim of this article is to investigate perceived cultural differences in the perceptions of time and time management, and the implications regarding productivity amongst socio-demographic groups in Gauteng. This study indicates that socio-demographic variables such as home language, gender, education, age and income are related to various factors of time perception.Design/Methodology/Approach: The questionnaire consisted of 35 questions to be rated on a five-point Likert scale. Six dimensions of time were measured, namely, the sense of purpose, effective organisation, structured routine, present orientation, persistence and a global time perception. A multi-cultural non-probability convenience sample (n=804) was drawn from residents in the Gauteng region. Respondents were selected from upper- middle- and lowerincome groups residing in various suburban areas and townships in the region. Students of the North-West University carried out the fieldwork.Findings/Implications: The research study found that the dimensions sense of purpose and persistence of time obtained the highest mean factor scores: 4.05 and 3.95 respectively on the 1 (negative) to 5 (positive) scale, with 87, 4% and 83.8% of the respondents obtaining high scores (above 3.40) respectively. This implies that most respondents felt that they spent their time usefully and meaningfully, while at the same time, would not give up until the task was completed. The dimension present orientation of time produced the lowest mean factor score of 3.09, with 29.4% of respondents obtaining scores below 2.60, indicating a lack of focusing on completing a task at a designated point in time. The study also found that organisations have to increase productivity and reduce costs. The consequences of this for many employees included increased workloads, longer working hours and greater time pressure.Originality/Value: The findings of this study are original and innovative. The results suggest that instructors should be sensitive to cultural differences in time perception when introducing time-management programs. The five time dimensions identified in this study may further serve as guidelines for key focus areas in time-management programs. The impact relating to training means it is important to identify efficient and effective ways to measure learning transfer, particularly in those areas traditionally regarded as "soft" and impossible to measure.
The economic impact of the Volksblad Arts Festival
Authors: Strydom A. J. , Saayman M. , Saayman A.
Published: May 2017

Purpose: Arts festivals, as a form of event tourism, are becoming more and more popular in South Africa with new festivals developing annually. The Volksblad Arts Festival in Bloemfontein celebrated its fifth anniversary in 2005. The purpose of this paper is to indicate the economic impact of the annual Volksblad Arts Festival on the local economy of Bloemfontein. Results are also compared with research done at other popular festivals in South Africa. Design/Methodology/Approach: The main thrust of the paper is to determine the economic impact of the Volksblad Arts Festival in Bloemfontein. More than 400 visitor questionnaires and 72 business questionnaires were administered and successfully completed during the festival that took place from 12-17 July 2005. Findings: The results show that this festival generates R18 405 653. If one compares it to festivals such as the KKNK in Oudtshoorn, the National Arts Festival in Grahamstown and even Aardklop held in Potchefstroom, it is evident that Volksblad is a smaller festival and it is therefore also expected that the economic impact of the festival should be less. Implications: This paper presents a comprehensive approach to understanding the measurement of the economic impact of a festival like the Volksblad Arts Festival. It provides tourism managers of Bloemfontein with an indication of the potential of event tourism as a source of income for the city. It also indicates the need for more extensive marketing in order to increase the percentage of non-local visitors to the particular festival. Originality/Value: Bloemfontein is increasingly regarded as an event tourism destination rather than an end destination for leisure tourists. This research represents an original attempt to indicate the potential impact of events to the tourism managers of Bloemfontein as well as other destinations with similar interests.
Intra-Africa agricultural trade: A South African perspective
Authors: Daya Y. , Ranoto T. , Letsoalo M. A.
Published: May 2017

Purpose: The aim of this paper is to assess and provide an overview of the magnitude of current agricultural trade patterns between South Africa and the five leading regional economic communities (REC's) in Africa. This paper also seeks to examine some of the constraints limiting greater intra-African agricultural trade. This is done in order to better understand the role South Africa currently plays and could potentially play in promoting intra-Africa trade. Design/Methodology/Approach: Trade flows between South Africa and the leading REC's are outlined and explained. Trade data and tariff data is sourced from available databases. Non-tariff barriers and other impediments to greater intra-African trade are examined with reference to available literature and discussions the authors have had with trade experts and policy makers.Findings: South Africa is the most active country in intra-Africa agricultural trade. However, it is a relationship defined predominantly on exports to Africa with a low level of imports. South Africa exports a diverse range of value added products whilst imports remain concentrated in commodities. Significant imbalances in agricultural trade between South Africa and the respective REC's continue to persist. Regional trade arrangements have fostered greater trade but significant obstacles to greater trade remain.Implications: African countries that do not invest in infrastructure and create a trade-enabling environment and diversify their production, limit their potential to the supply of one or two commodities thereby perpetuating the trend of huge trade imbalances in favour of South Africa.Originality/Value: This work provides a platform for assessing trade relationships and examining impediments to greater trade. It is also relevant in guiding future research on priority markets in Africa as export destinations and import suppliers in light of increasing regional integration initiatives and governments commitment to African development.
A framework for understanding the role of culture in entrepreneurship
Authors: Urban B.
Published: May 2017

Purpose: Synthesising research findings on business regulations, culture, self, and entrepreneurship, this article provides a broad overview of the potential patterns of relationships between cultural values, personal and contextual factors, and entrepreneurial outcomes. Theories of entrepreneurship where either environmental or personality variables have been specified as unique predictors of entrepreneurship are investigated to determine whether they capture the complexity of entrepreneurial action that encompasses the interaction of environmental, cognitive, and behavioural variables. Emphasis is also placed on the South African business environment, where business regulations that may enhance or constrain new business activity are analysed. Design/Methodology/Approach: Building on previous conceptualisations and empirical findings, the article identifies salient antecedents and consequences of venture creation from established literature. A framework is then proposed, building on previous findings to approach the interaction between the multiple interacting influences on entrepreneurship more systematically.Findings: Principal literature reviews indicate that, despite SA's apparent favourable regulatory environment, low entrepreneurial activity persists, and understanding the interplay between culture, self, context and entrepreneurship remains imperative for policymakers and practitioners. In the proposed model, cultural values affect the perception of an individual resulting in key entrepreneurial outcomes; culture is depicted as a moderator in the relationship between contextual factors (business regulations) and entrepreneurial outcomes, and acts as a catalyst rather than a causal agent of entrepreneurial outcomes. Limitations include lack of any causal inferences, and thus directionality between the variables which are not fully explored or empirical tested.Implications: Implications for policymakers encouraging entrepreneurship in SA, are that the complexity of factors involved in enhancing or constraining entrepreneurship should be given due consideration, without any one set of variables overshadowing the other factors. Entrepreneurs, educators, and consultants all benefit from a better understanding of how various factors merge into the intent to start a business. Training entrepreneurs to be aware of the multiple influencing factors will raise their level of sophistication and ability to correctly gauge opportunities. Originality/Value: Since no unified theme exists regarding the relationship between culture / self / context and entrepreneurship, the synthesis of the variables proposed in this framework offers an introductory roadmap to guide future research. Taking the multiplicity of variables and dimensions influencing entrepreneurial activity even further, the article provides crucial insights of how entrepreneurial outcomes are determined in a SA context; such models are essential for real advances in the emerging field of entrepreneurship.
What they really think: Resolving methodological issues in supply chain ethics research
Authors: Chipp K. , Goldman M. , Kleyn N.
Published: May 2017

Purpose: The aim of this paper is to further the theory and strengthen methodological approaches to the role of ethics in buyer-seller relationships. The paper explores opportunities to enhance response rates, validity and reliability in the research context of organisations seeking to understand the ethical beliefs their suppliers hold of their buying organisations. Design/Methodology/Approach: The research universe is a select business group, all of which are technologically literate and online. Innovative research sampling methods were selected to great effect. The method selected was saturation surveying, a process whereby all identifiable target respondents are surveyed. Instead of selecting between sampling techniques, the option of saturation surveying, cheaply available electronically, removes the focus from the decision to either sample probabilistically or not. Instead, as the entire universe can be contacted in a cost effective manner, the sampling frame becomes of paramount importance. Thus, the focus then shifts from accurately selecting respondents from the sampling frame towards enhancing the sampling frame itself. The sampling frame was improved through guidance from the literature. Findings: The paper demonstrates that this research approach was successful in that it generated a high response rate, suggesting great involvement amongst the supplier population in the topic at hand. It also indicates a lessening of non-response bias, as the response rate is more than double that of previous research into the area. Implications: This paper presents a comprehensive approach to researching ethics in buyer-seller relations. It further promotes the effective use of new sampling methods enabled by the Internet when directed towards selective populations. Originality/Value: The novel approach of sampling frame enhancement twined with saturation surveying has exciting implications for business research. The expansion of the sampling frame to a wider audience of suppliers has long been noted as necessary although not actioned. Furthermore, in terms of the little-studied nature of buyer-seller relations, the verification of the scale developed by Bendixon and Abratt (2007) affirms the robustness of this measure for ethics research.
An evaluation of the usefulness of cash flow ratios to predict financial distress
Authors: Jooste L.
Published: May 2017

Purpose: With the introduction of the cash flow statement it became an integral part of financial reporting. A need arose to develop ratios for the effective evaluation of cash flow information. This article investigates cash flow ratios suggested by various researchers and suggests a list of ratios with the potential to predict financial failure. Design: The cash flow ratios suggested by researchers, from as early as 1966, are investigated and eight cash flow ratios selected for inclusion in an analysis to predict financial failure. Ten failed entities are selected for a cash flow evaluation by means of the selected ratios for five years prior to failure. For a comparison, non-failed entities in similar sectors are selected and also evaluated by means of the cash flow ratios. The mean values of each ratio, for each year prior to failure, were then calculated and the means of the failed entities were compared to the non-failed entities. Findings: The comparison revealed that cash flow ratios have predictive value with the cash flow to total debt identified as the best indicator of failure. It was also determined that, although failed entities have lower cash flows than non-failed entities, they also had smaller reserves of liquid assets. Furthermore, they have less capacity to meet debt obligations and they tend to incur more debt. The ratios of the failed entities were unstable and fluctuated from one year to the next. Finally, bankruptcy could be predicted three years prior to financial failure. Implications: Income statement and balance sheet ratios are not enough to measure liquidity. An entity can have positive liquidity ratios and increasing profits, yet have serious cash flow problems. Ratios developed from the cash flow statement should supplement traditional accrual-based ratios to provide additional information on the financial strengths and weaknesses of an entity .
Goal clarity and trust in management in educational mergers
Authors: May T. , Mason R. B.
Published: May 2017

Purpose: The aim of this paper is to explore employees' opinions on goal clarity, trust in management and perceptions of organisational readiness for change in the context of the changes caused by the merger to form the Durban Institute of Technology (DIT) in order to increase knowledge about the human aspects of mergers. Design/Methodology/Approach: A survey of staff was conducted, with a sample of respondents completing a questionnaire, which investigated whether or not there were relationships among the change variables, namely goal clarity, trust in management and perception of organisational readiness for change. Findings: The key finding of the study is that the goals of the institution were not clarified sufficiently during the change process at DIT. The correlation of goal clarity, trust in management and perceptions of organisational readiness for change were all significant at the p < 0.01 level; and the direction of the relationship between the variables was strongly positive (between 0.7 and 1.0). Implications: The results suggest that management success in identifying organisational goals clearly during a change initiative could help improve employees' attitudes, thereby increasing the likelihood of merger success, and minimising the negative reactions and staff dissatisfaction often associated with mergers. Originality/Value: Although there is a lot of research in the generic field of mergers and considerable research into mergers in higher education, both overseas and in South Africa, there is a lack of research in the human aspects of mergers. This is especially true of the three key change variables of perceptions of readiness for change, goal clarity and trust in management. Furthermore, what research there is has not focussed on the opinions of individual employees, but on the opinions of trade unions and student representatives. Therefore, this study contributes to filling an important gap in the literature on higher education mergers in South Africa.