Theses and Dissertations (Business Management)

Permanent URI for this collectionhttp://hdl.handle.net/2263/31919

Browse

Now showing 1 - 20 of 156

Exploring a capital structure decision-making framework for financially distressed companies
(University of Pretoria, 2022-08-10) Pretorius, Marius; u89448490@tuks.co.za; Van Beek, Coenraad J. S.
Depending on the stage of its life cycle, a company will require a different composition of its capital structure. The life cycle stage does not automatically determine the probability of financial distress for a company. However, the inverse is true; financial distress can determine the life cycle phase of a company. The question that academics and practitioners continue to grapple with is, what should the financially distressed company’s capital structure consist of to maximise its chances of success? This study explores severity of distress, reasonable prospect to rescue a financially distressed company, various capital structure theories, and the determinants of capital structures to investigate what may inform capital structure decision-making for distressed companies. The aim of this study is to explore a capital structure decision-making framework for financially distressed companies. This is achieved by investigating the following research questions: 1. How does severity of distress impact the capital structure decision of financially distressed companies? 2. How does the reasonable prospect of rescuing a company affect the capital structure decisions of financially distressed companies? 3. What are the determinants of the capital structure of financially distressed companies? 4. What decision-making framework should funders and practitioners use when considering the capital structure decisions of financially distressed companies? The main contributions of this study were to expand on the existing frameworks to evaluate severity of distress on a framework that is more aligned to capital structure decision-making. Furthermore, it was also to further investigate the boundaries of the zone of insolvency and its consequences for capital structure decision-making. However, the study explored how severity of distress and the zone of insolvency impact the reasonable prospect of rescuing a company. This study then aims to contribute further to the limited academic literature that is available on the concept of reasonable prospect and explores how existing reasonable prospect calculations can be adapted to make them less subjective and align them to make sense of the capital structure that financially distressed companies require. The unique circumstances that a company in financial distress finds itself in result in determinants affecting its capital structure that is different from the norm. This study explored possible determinants that have a practical implication as well for companies in financial distress. The study then aims to propose a capital structure decision-making framework that can be used for future research and by practitioners to hopefully move the capital structure debate and practical value thereof forward for practitioners. Literature review The literature review explored the literature on severity of financial distress, the zone of insolvency, and the reasonable prospect of rescuing a company. Furthermore, the study reviewed the three main capital structure theories, namely, the irrelevance capital structure theory, the trade-off theory, and lastly, the pecking order theory and considered the impact of financial distress. The study also focuses on the shutdown rule and key case law to assist in the exploration of determinants of capital structure when a company is financially distressed. Theoretical framework To address this gap in theory, the researcher explores what may inform capital structure decision-making for distressed companies from an ontologically subjective constructivist-interpretive paradigm, believing that knowledge comes from facts associated with real-life cases and their context. The reality for a financially distressed company is not the norms that govern the company as a going concern in finance, accounting, investment, and economic disciplines. The researcher’s epistemological position acknowledges that as a constructive interpretivist, the researcher is inclined to a more qualitative research methodology to explore and understand the phenomenon of financially distressed companies’ capital structure. Methodology A mixed-method approach was used to first explore the constructs and themes around severity of distress, zone of insolvency, reasonable prospect to rescue a company, and capital structure of companies in financial distress through a review of relevant literature. This was followed by pilot qualitative semi-structured open-ended interviews with various industry experts that span management, practitioners, and funders. As a practitioner in the field, the researcher’s own observations were also used for further triangulation. The themes and constructs established were then further explored through a Qualtrics questionnaire extracted from the initial concourse statements. The final Q-set of 66 statements was then sorted by expert industry participants and analysed using the PQMethod software for quantitative correlation and factor extraction. Finally, a holistic interpretation of all statements to explore the phenomenon was made to find synergies between the data and the theories explored. Interpretation The interpretation revealed a surprisingly high correlation between the three-factor arrays (viewpoints) identified through the Q method process and the three main capital structure theories, namely, pecking order theory, trade-off theory, and irrelevance theory, that were selected as the focus during the literature review. Another surprising outcome was the realisation after exploration of a holistic range of statements that the factor arrays did not favour a particular capital structure theory but rather differentiated the use of a capital structure theory based on severity of distress and the reasonable prospect of rescuing the company. The determinants that have an impact on the determination of severity of financial distress and the calculation of the reasonable prospect were also explored. This study proposes a less subjective framework that can practically be aligned to the distressed company capital structure. Discussion This study concluded by making observations on the propositions made from the original literature review. Furthermore, a capital structure decision-making framework for financially distressed companies is proposed that will hopefully evoke further academic debate and be useful for practitioners. Conclusion This study explored literature relevant to the phenomenon of capital structure decision-making for financially distressed companies. Furthermore, the gaps identified in the literature and lacking in practice were addressed with the mixed-method exploratory research using the Q methodology for the first time in this context. The results were surprising findings linking severity of distress, reasonable prospect, the determinants of capital structure for financially distressed companies, and the capital structure theories in a new way. This allowed for the proposal of a capital structure decision-making framework for financially distressed companies that will hopefully evoke further academic research and practical application.
Exploring the relationship between strategy consultants and strategy tools using grounded theory : a strategy as practice perspective
(University of Pretoria, 2019) Maritz, Rachel; McLachlan, Philip P.
Strategy consultants act as catalysts of contemporary social change. They shape the global economy through strategies of some of the world’s largest organisations, yet little is known about their strategising practices, particularly in employing strategy tools. The purpose of this study was to generate theory that will contribute to understanding the interplay between strategy consultants and their use of strategy tools in everyday strategising. In line with a broader practice turn in social sciences, the study adopts the strategy as practice perspective and conceptualises strategy as something an organisation does, therefore focusing on activities and practices of the strategist that constitute strategising. Grounded theory is employed as qualitative methodology, complemented by in depth interviews with eleven strategy consultants. Five conceptual categories were deduced that aid in exploring the interplay between strategy consultants and their use of strategy tools. Drawing upon several practice and practice-based theories, the study enhances understanding of the professional identity of the strategy consultant in practice and explores the interplay the strategy consultant has with strategy tools. The study presents novel insight into strategy tool selection strategies, the dimensions of boundary spanning activities in using strategy tools as boundary objects, the nature of strategic information finding activities in pursuit of strategic outcomes, and the mediating role of knowledge, language and structures. The findings and theoretical integration of the grounded categories into existing strategy as practice literature contributes to our understanding of the strategy consultant as strategist and the relationship with strategy tools as material artefacts in strategising.
Strategic issues in purchasing management for manufacturing enterprises
(University of Pretoria, 1997) Van Rooyen, D.C.; RPalliam@auk.edu.kw; Palliam, Ralph
English: The study "Strategic issues in purchasing management for manufacturing enterprise" considers the premise that manufacturing enterprises are facing increased competition and are operating in a dynamic environment. A detailed literature survey was undertaken and an empirical study of a sample of one hundred and fifty industrial enterprises was conducted. The findings of the study indicate that enterprises are constantly adapting to changes in the marketplace. The changes include regulations, deregulations, globalization, advancing customer focused technology and services, growing quality requirements and constant cost improvement pressures. Strategically managing purchased goods and services positions manufacturing enterprises to turn these changes into a competitive advantage by leveraging the company's purchasing power and maximizing the contribution of the supply base through mutually aligned interests. The study presents an opportunity for the purchasing department to stand out as a strategic leader. The study offers specific plans on how strategic management of purchased goods and services can contribute to the enterprise's objectives. In order to achieve the overall objectives of the enterprise, the purchasing department must clearly understand what are the strategic issues in purchasing management and must define its role in the change effort. In addition it must plan for implementation of the change throughout the enterprise. Within this context purchasing is identified as a constantly evolving function in its role as a marketer to the internal customers within the manufacturing enterprise, marketer to the external suppliers and a participant in the corporate management process. This study examines the evolution of purchasing and projects trends which are concomitant with strategic purchasing. "Strategic issues in purchasing management for manufacturing enterprise" notes that the management of sources of materials and services is of vital importance especially for manufacturing enterprises. In addition the study recognises changes in customer demands and competitive offerings and noted the gaps between early strategic involvement of purchasing and product innovation management. The new product development process requires purchasing' s input in view of the fact that outside suppliers will provide materials that constitute a majority of the cost of a new product. In addition, suppliers may provide new product and process technologies that are critical to the development effort. Purchasing is ideally located to manage this interaction. Considering the rapid evolution of the purchasing function, "Strategic issues in purchasing management for manufacturing enterprise" recommends that enterprises move away from the functional and transactional focused purchasing practices and move towards an approach requiring interaction with overall business objectives, business market intelligence, total cost decision making, cross functional input, more integrated supply base, management of the entire supply chain and finally customer focus. This relationship approach causes a shift in purchasing philosophy from low price buying to total cost management. This paradigm shift from that of managing a transaction, to that of managing the cost of an entire business process, the process that starts with design of the product or service and ends with the ultimate disposal of the product or completion of the service, propels purchasing closer to strategic business issues. Finally, making recommendations on the basis of preconceived ideas is easier than coming up with advice based on evidence. Therefore, this study presents an opportunity and a point of departure for further research and debate in the areas of best practices and globalisation.
The interactions of employee engagement, telecommuting and performance for the future of work
(University of Pretoria, 2024-03) Eresia-Eke, Chukuakadibia E.; u23158019@tuks.co.za; Ravhudzulo, Hangwani Raymond
The COVID-19 pandemic catalysed a monumental shift in the world of work, particularly in the Information Communication Technology sector, where telecommuting gained prominence. As organisations adapt to a ‘new normal’ owing to a transformation in workplace practices, it is imperative as dictated by the study’s objectives to understand the interactions of employee engagement, telecommuting propensity, and employee performance, more so in a developing country, like South Africa, in preparation for the future of work. The new global behavioural norm has forced organisations and employees to adapt quickly to the rapidly changing work environment. Global trends indicate a substantial increase in telecommuting adoption, especially during the COVID-19 pandemic. However, this has led to the emergence of some challenges to employee engagement and performance with profound implications for the healthy well-being of employees. More specifically, these challenges can instigate reduced employee engagement, increased turnover, and lower productivity, ultimately impacting organisational competitiveness and sustainability. This raises serious concerns as the success or failure of an organisation depends on its workforce, especially the extent to which they are engaged at work and are productive. With the uptake of telecommuting in the ICT sector that plays a critical role in the South African economy, any negative effects that emanate from the practice of telecommuting will potentially bode dire consequences for the future of work in South Africa. The ramifications of an inadequate comprehension of key employee outcomes and their correlation to telecommuting in a developing economy context such as South Africa, characterised by elevated unemployment rates are profound. Specifically, this study hypothesises direct relationships between employee engagement and telecommuting propensity, employee engagement and employee performance, as well as telecommuting propensity and employee performance. Further, this study hypothesises that telecommuting mediates and moderates the relationship between employee engagement and employee performance, as well as employee engagement dimensions (physical, cognitive, and emotional) and employee performance. Finally, in pursuit of the objective about moderated-moderation, this study analyses the moderating role of demographic variables, namely age, educational level, and organisational profile in the telecommuting propensity moderated relationship between employee engagement, its dimensions and employee performance. The results of this study will be instrumental to driving change by informing practice, guiding decision-making, and advancing knowledge in the domains of business management, human resources, and business strategy. Employee engagement is illuminated through the Employee Engagement Theory, and basically refers to an employee's emotional, physical, and cognitive commitment to their organisation. Telecommuting is elucidated through the Social Exchange Theory, and it explains the reciprocal relationship between employers and employees. Finally, employee performance is defined through the Triarchy Model of Employee Performance that encompasses task performance, contextual performance, and adaptive performance. This study employed a positivist, deductive, quantitative, and cross-sectional methodology in pursuit of its research objectives. To distribute the survey instrument, a combination of snowball, purposive, and self-selection sampling techniques was used. A total of 1368 questionnaires were distributed, although 1054 employees in the South African ICT sector accessed the survey. Of these, 478 responses were complete, resulting in an effective 45% response rate. Statistical techniques that encompassed descriptive statistics and inferential methods spanning factor analysis, correlation analysis, regression analysis, and structural equation modelling were employed in the study, to analyse and interpret the data as well as generate empirical findings. The study discovers direct, moderating, and moderated-moderation relationships among some of the study’s constructs. Employee engagement and physical engagement are positively related to employee performance. Further, employee engagement is positively related to telecommuting propensity while telecommuting propensity only moderates the relationship between cognitive engagement and employee performance as well as the relationship between emotional engagement and employee performance. The study also found nuanced moderated-moderation effects of age on relationships between some of the study’s constructs. In the new era of telecommuting, employees need to adapt, learn, and innovate. Organisations and managers must strive to ensure that the future of work is inclusive, collaborative, sustainable, and human-centred. In times of uncertainty like the COVID-19 pandemic, keeping employees engaged and productive is vital for organisational survival and continuity. Managers should encourage collaborative workspaces and face-to-face meetings to improve team bonding, knowledge sharing, and innovation in a bid to strengthen workplace relationships. In sectors like ICT, high employee engagement is key for productivity and employee performance, as engaged employees typically work more effectively towards organisational goals. This study provides novel empirical data, knowledge, and insights related to the interconnectedness of employee engagement, its dimensions, telecommuting propensity, and employee performance. Theoretically, this study makes a unique contribution to the fields of business management, human resources, and business strategy. Methodologically, this study provides empirical evidence by means of the introduction of telecommuting propensity as an intervening variable, while interrogating hypothesised relationships with structural equation modelling and the construction of reflective higher order constructs of employee engagement and employee performance. Practically, the study contributes - through actionable recommendations for organisations and managers to encourage preparedness and adaptation, for the future of work.
Investigating effectuation theory application in practice when evaluating a distressed venture opportunity
(University of Pretoria, 2024-02-13) Pretorius, Marius; thabang.madigoe@gmail.com; Madigoe, Thabang
Once appointed, business rescue practitioners (BRPs) and turnaround professionals (TPs) are faced with critical decision-making as to whether a distressed venture remains viable. A distressed venture opportunity (DVO) is judged by reasonable prospect (RP), which is subject to different perceptions, opinions and interpretations by BRPs and TPs. Effectuation is applied by experts to the entrepreneurial opportunity; however, the question arises whether effectuation (or its elements) can be applied to the distressed venture and its associated decision-making. The aim of this generic qualitative study was to investigate and explore effectuation theory application to the DVO. In total, the study had 20 participants from the Gauteng province. Within the group of 15 BRPs, there were 10 TPs and five BRPs from a liquidation and legal background. Additionally, five business rescue trainees were interviewed and the data were collected through semi-structured interviews. The study revealed that all five effectuation principles are relevant to the DVO and both effectuation and causation are applied in a complementary manner and BRPs navigate between the two logics depending on the context. Effectuation principles are applied in the industry based on participants’ perceptions and several factors moderating the inclination towards effectuation and/or causation were explored. Notably, effectuation principles inform the choice for reorganisation/better return than in liquidation (BRiL)/liquidation and the bird-in-hand and the crazy-quilt principles were identified as critical, having a strong relationship with RP.
Investigating the development of logistics capabilities from a resource orchestration perspective
(University of Pretoria, 2023) Oke, Adegoke; kelvinne.mocke@up.ac.za; Mocke, Kelvinne
Logistics capability development has been neglected in the literature, given that logistics capabilities have predominantly been conceptualised from an operational performance standpoint. Despite numerous studies exploring the correlation between logistics capabilities and factors, including integration, firm performance, and competitive advantage, there is limited understanding of the mechanics of logistics capability development. In other words, how do firms develop logistics capabilities? This research focuses on logistics capability building as a process: a topic that has not been fully explored. The study used a multiple case study design comprising nine total case companies as part of the sample. Data was gathered from 27 participants working in varied industries within the South African context. Semi-structured interviews, selected company visits, and secondary data sources like company websites were used to gather data for this research. The research revealed five enabler and five inhibiting themes relating to logistics capability development. Nine cases were examined to explore resource orchestration actions, and from these, 12 new resource orchestration actions were identified for developing logistics capabilities. Six contingency factor themes were identified, and the breadth and depth of resource orchestration (RO) were explored in relation to these factors. The study responds to the call for more research employing resource orchestration theory and practically demonstrates its application in the development of logistics capabilities.
An investigation of the drivers, adoption and outcomes of sustainable supply chain management practices in supply chain organisations
(University of Pretoria, 2023) Oke, Adegoke; assilah.agigi@up.ac.za; Agigi, Assilah
The imperative for firms to embrace sustainable supply chain management (SSCM) practices has become increasingly urgent. Previous studies have indicated that firms adopt SSCM practices differently, some more proactive than others. However, the factors influencing such disparities in SSCM practices adoption remain less understood. Moreover, recent literature has suggested that SSCM practices adoption can yield unintended outcomes, beyond the expected and widely examined outcomes. This research adopts diffusion of innovation and institutional theory as theoretical lenses to explore why firms adopt SSCM practices differently. Specifically, it investigates internal and external factors that drive the more or less proactive SSCM practices adoption while incorporating social capital theory to examine the conditions that inhibit or enable such adoption. The study also investigates the outcomes of more or less proactive SSCM practices adoption. Through a qualitative research design, the study conducts multiple case studies on organisation’s supply chains in South Africa. Semi-structured interviews with multiple participants in organisations illuminate a nuanced understanding of SSCM practices adoption. The findings uncover a spectrum of SSCM practices adoption patterns, ranging from more to less proactive, shaped by a complex interplay of internal and external factors. In addition, the study elucidates the enabling (organisational commitment, social capital and collaborative networks and relationships) and inhibiting conditions (external and contextual challenges, organisational factors and lack of strategic alignment and culture and mindset) that influence the extent of more proactive SSCM practices adoption. Furthermore, the research underscores that varying levels of proactive SSCM practices adoption may be associated with different intended and unintended outcomes. The study establishes the link between the adoption of SSCM practices and innovativeness of firms (sustainability-innovation). This study contributes to the field by proposing a comprehensive framework elucidating SSCM practices adoption dynamic and presents several propositions for further exploration.
Managing stakeholder communication in the Ghanaian telecommunication industry
(University of Pretoria, 2022) De Beer, Estelle; Bandim, Abed-Nego Azumah
The telecommunications business in Ghana has grown rapidly during the previous three decades. Thus, it is critical to establish effective communication among key stakeholders and consumers. This study's main purpose is to design a strategic framework for managing consumer and stakeholder interest in Ghana's telecommunications industry. Pragmatic research philosophies were used to support quantitative and qualitative research methods. Inductive and deductive research methods were utilised to collect data from 421 respondents for analysis, interpretation, and discussion. Awareness raising, discourse, education, training, capacity development, relevant operational information, implementation and monitoring are important communication strategies. The study found that most consumers and key stakeholders are unaware of telecommunications interests. However, those few stakeholders aware of telecommunications interests claim the communication strategies are not well managed. National Communications Authority, telecommunications service providers, and the Ministry of Communications oversee telecommunications interests. A lack of effective communication resources, insufficient information, and poor service quality are some of the challenges key stakeholders and consumers face in managing communication interests. In addition to properly defined communication channels, regular interaction, the development and implementation of a communication plan, regular feedback, open and thorough engagement, and effective involvement of stakeholders and consumers in the formulation and implementation of communication policies, the findings revealed are means of improving communication interest. The study developed a strategic communication plan to be adopted by the key stakeholders and consumers. The study also employed theories that formed a solid foundation for the study.
Narrating the role of socio-cultural factors in entrepreneurial success : a study of township entrepreneurs
(University of Pretoria, 2023-04) Moos, Menisha; Crafford, Anne; veronica.mathebula@hotmail.com; Mathebula, Veronica
Entrepreneurship is regarded as one of the strategic pillars for revitalising South African township economies. This is especially important in the post COVID-19 pandemic era, whereby many businesses face immense hardship. The goal of this research is to explore how Gauteng township entrepreneurs interpret the impact of socio-cultural factors on their entrepreneurial success journeys and the meaning they attach to their success within specific township contexts. A qualitative case study approach using narrative enquiry anchors the study. It involved interviews with six entrepreneurs who have lived in and own Gauteng township-based businesses. Social network theory is the main theory I used for understanding this phenomenon. Socio-cultural factors identified, which were equated to social networks, comprised families, friends, reference groups, social media, culture, religion, political history and other social factors. The findings indicate that socio-cultural factors are effective social networks when they facilitate entrepreneurs’ access to information, skills, networks, finance and markets. However, they negatively impact entrepreneurial success when they engender social exclusion, decay in the social moral fibre, crime and corruption. Surprising findings reveal that some entrepreneurs attach greater value to the role of African culture and religion than was originally assumed. The uniqueness of the study is in its methodological approach of using storytelling as a tool to unravel the impact of socio-cultural factors on each participant’s entrepreneurial success journey. Applying social network analysis tools also uncovered additional benefits of social networks, including legacy creation, the formation of identity and the practical application of Ubuntu kinship values and indigenous knowledge systems (IKS). The research contributes to the body of research on entrepreneurship theoretically, methodologically and practically. This is done by establishing the relationship between socio-cultural factors and entrepreneurial success using the qualitative methodology and multiple case and narrative design. Practical lessons are also drawn about achieving entrepreneurial success in township settings that can be shared with stakeholders such as other entrepreneurs, entrepreneurship scholars, entrepreneurship development practitioners and policy makers.
Managing the shared accommodation industry ethical dilemmas : the case of Cape Town and eThekwini’s competing multi-stakeholder interests
(University of Pretoria, 2023-08-31) Holtzhausen, Natasja; u02553961@tuks.co.za; Ramawela, Mmatšatši Emmah
Municipalities face a variety of issues, including the need to reconcile the competing interests of many stakeholders as their jurisdictions expand. This is particularly true as municipalities have emerged as fertile spaces for digital platforms and the growing popularity of the sharing economy around the world. Platform enterprises in the shared accommodation industry have altered society’s approach to formal paid accommodation. Some of these changes have had mixed results, posing ethical challenges for municipalities. The governance of the shared accommodation industry (hereafter SAI) and the ethical dilemmas arising from the competing interests of multiple stakeholders have been studied. Using a qualitative multiple case study on the cities of Cape Town and eThekwini municipalities, the study investigated and explored how municipalities manage the ethical dilemmas arising from the competing multi-stakeholder interests in governing the SAI. Semi-structured interviews and field observations were used to collect data. Secondary data from case study documents, including strategic plans, annual reports and media releases, were used to supplement the obtained data. Firstly, the study revealed that the SAI's competing interests in both municipalities stem from licenced accommodation operators and communities. Since shared accommodation enterprises, primarily private homes, charge lower prices due to lower cost structures, they compete for clients with licensed accommodation operators. Communities, like licensed accommodation operators, compete with shared accommodation enterprises for affordable housing and access to municipal services and infrastructure. Secondly, both municipalities face economic ethical dilemmas like gentrification, densification, and the perpetuation of inequality, job losses and worker exploitation. Homelessness and unaffordable housing are amongst the social concerns, as are overpopulation, safety, loss of privacy and neighbourliness, and traffic congestion. Pollution, water scarcity and energy, and environmental degradation are among the environmental concerns. Thirdly, neither municipality possesses the skills and knowledge required to manage the shared accommodation industry. They use the laissez-faire strategy, with a reliance on body corporates and whistle-blowers to enforce existing laws while updating themselves on lessons learned.
Enabling leadership of and innovation in South African mining companies : pursuing environmental, social, governance principles and the 2030 SDGs
(University of Pretoria, 2024-01-24) Bornman, Dawie; samanthacastle@gmail.com; Castle, Samantha
In this thesis, titled ‘Enabling leadership of and innovation in South African mining companies: pursuing environmental, social, governance principles and the 2030 SDGs’, the candidate explored how leadership practices and processes foster an environment conducive to innovation, aligning with the SDGs and ESG principles. As a result, the researcher provides descriptive evidence and case studies that demonstrate perspectives of senior leaders in the mining sector concerning the SDGs and ESG, innovation and enabling leadership practices in the South African mining sector. Furthermore, this is examined in conjunction with relevant leadership literature, specifically the Complexity Leadership Theory and Ambidexterity Leadership Theory, which serve as the study's conceptual framework. The data was collected using semi-structured interviews as well as desktop research. Thirty-one senior mining leaders involved in innovation, the SDGs and ESG was purposefully selected and interviewed for this study. By drawing on Complexity Leadership Theory and Ambidexterity Leadership Theory as theoretical underpinnings, the researcher identified codes and themes that align with these theories. The study found four overarching findings with a number of sub-themes. The four findings revealed that mining leaders’ views and their understanding of SDGs and ESG in the mining sector are not homogenous; innovation positively impact sustainability in the mining sector; high levels of ambidextrous leadership practices enable innovation in the mining sector and lastly, that there are leadership behaviours and practices which should be strengthened in the mining sector. The research improves our understanding of how leadership is enabled to foster innovation towards the fulfilment of the SDGs and ESG principles.
The integration of business ethics and organisational strategy : a qualitative study of commercial banks in South Africa
(University of Pretoria, 2022) Maritz, Rachel; celialourens@gmail.com; Lourens, Cecilia
Within the South African economy, financial institutions have a particular responsibility to act ethically because of their responsibility to safeguard economic and financial stability. This study, using a strategy-as-practice perspective, investigates how South African commercial banks integrate organisational strategy and business ethics within regulatory and governance requirements set for public companies. A qualitative research approach was applied based on interviews with company secretaries and ethics officers from commercial banks as well as a review of integrated annual reports. A narrative thematic analysis of the reviewed content of integrated annual reports as well as semi-structured interviews were conducted, and analyses compared. The results of the study show that regulatory compliance with Corporate Governance guidelines contained in the King IV reports is a priority for financial institutions and that different levels of the modes of ethics management are evident in the integration of organisational strategy and business ethics in practice. This research contributes to the body of knowledge by developing and testing a comprehensive theoretical framework that integrates ethics and strategy. It furthermore contributes by describing if and how strategy and ethics are integrated in the specific context of commercial banks.
Proposed strategic export marketing plan for the South African textile and clothing industry : wool and mohair clothing for the American consumer market
(University of Pretoria, 2003-10) De Wet, J.M.; Maepa, Alfred Nchaupe
McDonald (1999:513) defines marketing planning as simply a logical sequence and a series of activities to the setting of marketing objectives and the formulation of plans. This management report proposed a strategic export marketing plan for the South African textile and clothing industry, focusing on wool and mohair clothing exports to the American market. The proposed strategic export marketing plan followed a step-by-step approach of market planning. The management report first discussed the elements of international marketing which include export planning process and the international environment, as well as decision-making factors like product, price, promotion and channels of distribution which are considered when making export decisions. The proposed strategic export marketing plan began with the overview of the South African textile and clothing industry, including the vision of the DTI on clothing exports to the American market. The research proceeded to gather information on the historical performance of the South African textile and clothing industry. A research on the strengths and weaknesses of the South African textile and clothing industry relating to exporting of wool and mohair clothing to the American consumers, as well as the opportunities and threats in the American market was conducted. The market mapping of the South African textile and clothing industry was then performed to determine its current position in the American market. The factors that attract the South African textile and clothing industry to the American market were identified, as well as the critical success factors of the market. The most attractive markets and the marketing objectives for each product market were determined and recommendations were made on the improvement or penetration of different product markets. The process ended with the development or the design of a marketing strategy, as well as the documentation of intervention and action plans. The marketing strategy specifically focused on the marketing mix using the four Ps of marketing; namely product, price, place and promotion. In short, the management report analysed both the market place and the position of the South African textile and clothing industry within the market, relative to the competition, constructed a realistic set of quantitative marketing and financial objectives and then developed the strategy to achieve these objectives. The research found that the South African textile and clothing industry compete relatively well with other wool and mohair clothing exporters and the American based firms. The research further found that while there are certain threats in the market, the opportunities outweighs the threats and that the South African textile and clothing industry possess the required strengths and has the ability to acquire or develop new strengths that will enable it to take advantage of the opportunities offered by the American market. While the exporting of clothing products to America is still in the beginning stage, the implementation of the Africa Growth and Opportunity Act (AGOA) is seen as the main driving force behind the success of South African exporters to the American market. The consumer market for clothing products in America is currently very attractive and the South African textile and clothing industry has the ability to satisfy the needs of this market. The management report concluded that all product markets identified have growth potential and should all be pursued. A marketing strategy for each product market was designed for each product market together with the interventions and action plans.
Investigating the relationship between entrepreneurial orientation and iconic branding in South Africa's food retailing industry : a consumer perspective
(University of Pretoria, 2023) Van Vuuren, Jurie Jansen; u18387048@tuks.co.za; Gantsho, Karen
This study aimed to investigate, from the perspective of consumers, the relationship between iconic branding (IB) and entrepreneurial orientation (EO) of an iconic food retail chain store in South Africa. The study adopted a positivist philosophy, quantitative research methodology and case study design. It was also informed by the resource-based and stakeholder theories based on a view in the literature that an outside-in consumer perspective of a business is a fundamental yet undervalued entrepreneurial resource. Therefore, the study hypothesised, as posited in the reviewed literature, that there is a positive relationship between a brand’s IB and EO. To address the research study’s objectives, the researcher collected data from probable consumers of the brand of interest (BOI) using an online questionnaire administered to a random sample of respondents. The study’s empirical findings largely supported the alternative hypotheses by indicating that consumers perceived a statistically significant difference between the brand’s IB and EO. The overall implication of these findings for business managers and policy formulators is that contrary to what is suggested in the extant literature, (1) consumers do not associate a brand’s IB with its EO, (2) iconic brands do not effectively leverage their IB sub-constructs (brand story, identity value and culture) to reflect their EO sub-constructs (innovativeness, risk taking and proactiveness) and vice versa, and (3) gender does not play a statistically significant role in how respondents perceive the relationship between a brand’s IB and EO. Furthermore, while the study found that males and females agreed that there was no relationship between the IB and EO of the BOI, males and females differed in their perceptions of only the IB and only the EO of the brand. This last finding implies that different marketing and policy formulation strategies should be adopted for males and females when building the IB or EO of an entity. Therefore, it is recommended that brand managers seeking to foster consumer awareness of the relationship between IB and EO should adopt differentiated strategies based on categorical variables, such as males and females. Furthermore, the study found no statistically significant difference between physical store and online shoppers’ perceptions of IB and EO. Therefore, in practical terms, marketing and policy strategies to promote the IB or EO of a brand are likely to yield similar results regardless of whether the target market requires physical or online engagement.
Investigating distressed venture decision-making during turnarounds
(University of Pretoria, 2023) Pretorius, Marius; maddy.brinkley@gmail.com; Brinkley, Maddison-Lee
ABSTRACT Background: Distressed decision-makers (business rescue practitioners or turnaround specialists) are confronted with various alternatives to make the appropriate decisions at various stages of a distressed business event. There are numerous variables that may affect the decisions to be made by a distressed decision maker during a distressed business event. Aim: To develop a better understanding of the variables that influence decision-making in business distress by identifying, confirming, and explaining the major variables that affect decision making for distressed decision makers. Setting: Licensed business rescue practitioners or turnaround professionals in the Gauteng province of South Africa. Methods: A qualitative research design made use of 12 semi-structured interviews. Casual maps were constructed by participants to provide insights into the most relevant and influential variables to their decision-making process. Results: Distressed decision makers do not have one specific decision-making process, and decision-making is largely situation dependent. The Companies Act, creditors, stakeholders, time, liability of data integrity, reasonable prospect, reputational risk, and experience were the most influential variables. Reasonable prospect was found to drive the decision-making process. Lastly, a distressed decision-making framework was derived in which distressed decision-making results from awareness, severity, confidence, personal and external variables, causality, and effectuation. Conclusion: Reasonable prospect is central to distressed decision-making. Awareness, and severity influence confidence to make decisions, as well as the personal and external variables, which are in turn influenced by causality and effectuation. Contribution: The article provides valuable insights on distressed decision-making and influencing variables during a distressed business event and derived a distressed decision-making framework.
Responsible leadership and inter-organisational partnerships : a relational social constructionist lens
(University of Pretoria, 2023) De Jongh, Derick; sntakumba@gmail.com; Ntakumba, Stanley Sixolile
Interorganisational partnerships are organisational forms in which multiple stakeholders work as a collective towards common objectives, and yet little empirical evidence exists on how the leadership construct occurs in such settings. Moreover, the heroic leadership discourse that focuses on the individual leader versus followers is deemed not to provide adequate answers to the relational dynamics that take place at non-hierarchical interorganisational partnerships. The main research question is: How do relational leadership practices (RLPs) occur in interorganisational partnerships (IoPs) and what are the implications for responsible leadership theory (RLT)? In the literature it became clear that the ‘relationality’ construct is at the centre of how leadership could be understood in IoPs. As such, this study adopted the relational social constructionist leadership (RSCL) lens as its ontology and epistemology. It employed the practice approach as its methodology, which is underlined by the abductive logic of inquiry. The research was based on two samples, namely: an international (African continent) IoP and a national (South Africa) IoP. The research findings yielded eleven themes (RLPs of interest) and seventy-seven sub-themes (intersecting RLPs) based on data generated through dialogic interviews and focus groups which was analysed via coding processes using Atlas.ti 22 software. The set of findings that were presented via a word-cloud confirmed the centrality of the leadership construct in the data. The findings on RLPs demonstrated various perspectives of the research participants on how the leadership phenomenon is socially constructed intersubjectively in the two IoPs. The findings were discussed in terms of: (1) the social construction of leadership using the ‘RSCL Model’ (Endres & Weibler, 2017); (2) outcomes of social construction in terms of the ‘Direction, Alignment and Commitment (DAC) Framework’ (Drath, McCauley, Palus, van Velsor, O’Connor & McGuire, 2008); (3) the core tenets of RLT, namely: ethics, relationality and purpose; and (4) Ubuntu relational philosophy, which was deployed abductively to examine the RLPs under the theme of ‘agreeing’ in order to contextualise the understanding of the RLPs in the African milieu. This thesis makes the following contributions to leadership research and practice: (1) RLT has been advanced through the application of the RSCL lens and the practice approach in IoPs. The findings show that over two-thirds of the identified RLPs are not adequately represented in extant RLT. (2) RLT’s individualist-orientation (heroic) has been complemented with the relational and collective (post-heroic) orientations in terms of understanding how leadership responsibilities unfold in IoPs as RLPs. (3) It was found that there is a close alignment between the Ubuntu worldview and RLT in terms of moral, ethical and relational orientations, but the Ubuntu perspective adds a nuanced appreciation of the African context via its core intersubjective values of humaneness and harmony. (4) Relational leadership scholarship has been advanced through the application and subsequent modification of the RSCL Model and the DAC Framework informed by empirical analysis. (5) The thesis enunciates a new Responsible-Leadership-As-Practice theoretical framework. (6) In practice, insights from this thesis could inform the (re)design of leadership curriculum and research activities to emphasise social-relationality and praxeology of leadership in IoPs.
Impact of ethical leadership on organizational citizenship behaviour : group and individual level mediators
(University of Pretoria, 2023) De Jongh, Derick; williammapena@icloud.com; Mapena, William Lekgoa
The proliferation of unethical behaviours and the various instances in which leaders have behaved unethically in the past decade have resulted in a series of negative impacts on their respective firms and organizations. This study examines the impact of ethical leadership on organizational citizenship behaviour (OCB) by focusing on individual and group level mediators between the two constructs. The field of ethical leadership and its influence on OCB is under researched. More specifically the extent to which individual and group level mediators promote OCB practices through ethical leadership. The study adopted a qualitative case study approach in the public sector with a focus on a state owned company (SOC), in the water services sector in South Africa. The study was anchored in social learning theory. The study found that the ethical leadership style of leaders positively impacts the OCB of employees in an organization. The study also identified the group level and individual level mediators that promote OCB in employees. The study furthermore found that there is no specific behaviour that can be categorized only as existing at a group level or at an individual level. The study expands the body of knowledge of ethical leadership and OCB through examining the mediating group level and individual level mediators between ethical leadership and OCB in the context of South Africa in the water sector. The study further contributes to the literature on possible sequential mediating effects of the ethical leadership–OCB relationship.
Exploring strategy formulation by managers in response to disruption within a case study
(University of Pretoria, 2022-01) Letsholo, Rebaona; ushikhati@hotmail.com; Shikhati, Ursula
The South African pay television broadcasting industry has been dominated by a single player for a long time, and this organisation enjoyed an uncontested monopoly status since its launch in 1995. However, the gradual growth of internet connectivity in South Africa, as well as the arrival of a global pay television competitor disrupted the status quo. This thesis drew on Christensen’s theory of disruptive innovation, in order to understand how the incumbent case company’s strategy formulation was influenced by the disruption within the pay television industry, as well as how the company was adapting their strategy formulation to mitigate the disruption surrounding them.
Exploring networks in the entrepreneurial ecosystem for the business development of immigrant entrepreneurs
(University of Pretoria, 2023) Moos, Menisha; nclavisfubah@gmail.com; Fubah, Clavis Nwehfor
Research indicates that networks play a critical role in business development. However, there is a paucity of research on networks, particularly from the perspectives of immigrant entrepreneurs in emerging markets. The main aim of this study was, therefore, to explore how networks play a role in the entrepreneurial ecosystem for the business development of immigrant entrepreneurs. Specifically, the study explored the types of networks used by immigrant entrepreneurs, how the networks are developed, and the functions and benefits of networks in the business development of immigrant entrepreneurs in the South African entrepreneurial ecosystem. The study followed the interpretivist philosophy, using a qualitative research method. Data for the study were collected through semi-structured interviews with 25 immigrant entrepreneurs, selected using a purposive sampling method. Findings from the study indicated that immigrant entrepreneurs in the South African entrepreneurial ecosystem use eight types of networks in their business development, with social networks being the most frequently used and international business networks being the least used. In addition, the study found that immigrant entrepreneurs develop their networks using several methods, with trust being the most frequently used mechanism and idea pitching, outsourcing and subcontracting being the least used mechanisms. The study stressed the importance of reciprocity of trust in the network development process. Furthermore, referrals emerged as the most important function of networks in the business development of immigrant entrepreneurs. While resource provision also emerged as another major function of networks for immigrant entrepreneurs, finance stood out as the most important resource provided by networks. Finally, the study identified financial growth as the most important benefit of networking by immigrant entrepreneurs. This study, therefore, makes a significant contribution and adds to the academic literature by revealing the various but specific ways in which immigrant entrepreneurs develop the networks that they use in their business development in the South African entrepreneurial ecosystem, an area that has received little to no attention from scholars. Another significant contribution of the study is that it uncovered the specific types of networks which immigrant entrepreneurs used in their business developments in the host country's entrepreneurial ecosystem. Implications of the study were discussed, and recommendations were made.
A stakeholder approach towards a consolidated framework for measuring business incubator efficacy
(University of Pretoria, 2023-07) Moos, Menisha; rowan.mould@gmail.com; Mould, Rowan Lyle
Business incubators (BIs) are considered enablers of the entrepreneurial ecosystem, encouraging knowledge flows between institutions and business, and promoting new venture creation. Although incubators continue to proliferate, there remains a lack of consensus as to whether incubators are effective or even as to how incubator efficacy should be measured. This study seeks to address the latter of the two. Exploratory qualitative research methodology underpins this study. A sample of nine incubator managers were interviewed, representing a variety of incubator types, models, and contexts, demonstrating the breadth of the incubator industry in South Africa. Stakeholder theory is the underlying theoretical basis for understanding incubator efficacy used in this study. Considering incubator stakeholders, a framework comprising of two distinct but related perspectives on incubator efficacy – the business growth and economic development perspectives – is proposed. The source of incubator funding is suggested as having a moderating effect on the extent to which incubators focused on one perspective over the other. The study found an overwhelming reliance on government-linked funding to sustain incubator operations in South Africa. This, in addition to the substantial prevalence of metrics linked to the economic development perspective on incubator efficacy proposed in this study, supports the source of funding as a moderator of this relationship and helps explain the significant focus on economic development as a perspective on incubator efficacy. This study’s contribution lies in the development of a comprehensive stakeholder-based framework proposed for measuring incubator efficacy, applicable across incubator contexts.

Browse

Recent Submissions