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Faculty of Management Sciences

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    Financial bootstrapping as a sustainable livelihood alternative for agricultural co-operatives in an emerging economy
    (Virtus Interpress, 2024) Zwane, Bonginkosi Keith; Nyide, Celani John; Sikwela, Misery; Mantzaris, Evangelos; Fuyane, Nkululeko
    There is a scarcity of scholarly literature relating to financial bootstrapping in emerging economies, especially the use by co operatives in general and agricultural co-operatives in particular. As such, the financial bootstrapping methods used by agricultural co operatives in South Africa, an emerging economy, remain unknown (Rwekaza, 2021; Zantsi, 2021). The aim of this study is to determine the financial bootstrapping methods used by agricultural co-operatives. This study was undergirded by pragmatism, which allowed and guided the adoption of mixed-methods research. The qualitative aspect was given more priority or weight in answering the research questions, making it a quan → QUAL design. The study consisted of 52 agricultural co-operatives located in KwaZulu-Natal, South Africa. It was found that agricultural co-operatives practised some of the bootstrapping methods, especially those related to owner-related financing. However, there is little or no evidence of bootstrapping practices related to sharing resources and minimising capital invested in stock and accounts receivable. The co-operatives stifled their growth as they employed counter-bootstrapping activities caused mainly by their unsubstantiated beliefs. This research furnishes rural cooperatives with operational capital-enhancing guidelines that promote success
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    The influence of digital transformation on the growth of small and medium enterprises in KwaZulu-Natal
    (2021) Jeza, Sanele; Lekhanya, Lawrence Mpele
    Digital transformation has become the driver of the current market in the world of business. Globally, the business environment has become highly dynamic, unpredictable, and competitive due to external forces that generate change, mostly “technology”. Existing data indicate that the arrival of digital transformation is forcing businesses to change the way they operate. Therefore, a warning to any enterprise to rethink the way they operate, to maintain their competitive advantage. This study sought to investigate the effectiveness of digital transformation and assess its impact on Small and Medium Enterprises (SMEs) in KwaZulu-Natal. Furthermore, the study aimed to explore the extent to which South African SMEs implement digital transformation using the case study of KwaZulu-Natal. Moreover, the investigation determined the factors that challenge digital transformation in SMEs. A qualitative design was used to collect data through semi-structured interviews, with eight interviews conducted in Durban, in the KwaZulu-Natal province. Eight SMEs representatives were interviewed and responded to the questions. In the analysis of data, various factors were identified that link SMEs and the arrival of digital technologies. In the effectiveness of digital transformation, the study identified that themes such as “gaining exposure” and “gaining effective sales figures” result from implementing digital transformation. In reference to its impact on SMEs, the analysed data illustrate that digital transformation has a huge impact in building customer relationships and ensuring easy accessibility of the business. As to the extent of implementation, the collected and analysed data indicate mainly online selling and digital marketing as the main digital platforms successfully implemented by most SMEs. Lastly, the study reveals that factors such as digital maintenance and rapid changes in technology are the main challenging factors of digital transformation in SMEs. In the final analysis of data, the study recommends that South African SMEs must improve digital transformation implementation by extending more digital marketing to gain more exposure. Every business desire competitive advantage in the business sector, therefore, every SME must adapt to the new ways of doing business by implementing effective digital transformation.
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    Exploring financial and investment strategies as foundational pillars of successful African economies : a case study of Namibia
    (2018) Mutsvene, Thomas; Ngcamu, Bethuel Sibongiseni
    This research outlines that amidst the raging debates, Africa is at the receiving end of the effects of ill-crafted financial and investment strategies of their own making. The major research problem is that African economies lose a lot of investment opportunities through lost investor confidence caused by political polarisation, weakening currency value and ignoring the resources available within the economy. The main aim of the research was to explore how financial and investment strategies can be used to improve African economies to be successful. The goal was to see how financial and investment strategy can be harnessed to achieve successful African economies through examining the effect of such strategies on the economy and comparing performance of Namibian economy against others as well as the impact of joining the rand monetary union and politics. The research adopted a mixed research methodology on data from eight countries out of the total population of fifty four African countries in various income levels. The sample size was two hundred (200) participants and one hundred and fifty (150) responded to the research instrument(s). The major findings revealed that financial and investment strategies revolving around the available resources are the bedrock upon which successful African economies hinge on, hence, there is need to tap into untapped resources and engage in massive beneficiation in pursuit of economic growth and development agenda. Practical and managerial implications of this research show the need of developing financial and investment strategies revolving around economy’s resources so as to tap into significant incomes and investment opportunities wrapped in them. The major contribution of this research is a thrust on beneficiation and value engineering along the resources exploitation value chain as most African literature has provided little scope on the importance of this process and its impact on financial and investment growth in Africa.
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    Rural entrepreneurship : an insight into impeding factors influencing micro-entrepreneurial growth
    (The Clute Institute, 2016) Babalola, Sunday Samson; Agbenyegah, Albert Tchey
    The call for the growth of successful entrepreneurial activities across the globe raised the need to determine the influencing factors affecting micro-entrepreneurial growth. Hence, this study adopted a cross-sectional survey design to examine determinants of micro-entrepreneurial growth among micro-entrepreneurs. Two hundred and eighty-two micro-entrepreneurs were sampled through snowball and convenience techniques. The findings showed that stepwise multiple regression analysis identified four models in the prediction of micro-entrepreneurial growth. Specifically, operational challenge (β = -.35, p < .001), lack of support, β = -.17, p < .001), workforce challenge (β = .22, p < .001), and personal factors (β = -.21, p < .01) are significant predictors of micro-entrepreneurial growth. The findings were discussed in line with the literature while recommendations in terms of decision-making applications, and provision of developmental programs in assisting rural entrepreneurship for enhancement of growth were suggested.
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    Exploring fast moving consumer goods (FMCG) small, medium and micro enterprises (SMME) manufacturers need for innovation to achieve growth in KwaZulu-Natal
    (2016) Nze, Grace O; Lekhanya, Lawrence Mpele; Dorasamy, Nirmala
    This study explores South African Fast Moving Consumer Goods (FMCG) SMME manufacturers’ need for innovation to achieve growth in KwaZulu-Natal (KZN). South Africa suffers from a high rate of unemployment, with an official unemployment rate estimate of 24.7% (Statistics South Africa, 2013). This high rate of unemployment in South Africa is partly attributed to the failure rate of SMMEs, which is between seventy and eighty percent. Small enterprises encounter greater barriers than medium-sized and large enterprises in accessing finance for innovation, commercializing new ideas and expanding their businesses. The study was exploratory and quantitative in nature. Questionnaires and interviews were used to gather data. The questionnaires were distributed personally and with the help of a research assistant to the business sites of the respondents. The respondents comprise 120 FMCG SMME manufacturers in KZN, who were selected by means of a non-probability sampling method. The results obtained identified a number of factors influencing innovation for FMCG SMME manufacturers to achieve growth. The influencing factors include a lack of financial skill and knowledge; high cost or complex procedures to register or defend patents; a lack of information on the part of employers on how to satisfy consumers’ interest; a lack of technological know-how and human capital problems; difficulty in accessing finance for research and development; government laws and regulations; new entrant threats and protocols; and a lack of product brand name.
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    The role of integrated marketing communications in enhancement of SMEs growth in South Africa
    (IFRD, 2014-04) Lekhanya, Lawrence Mpele
    The intention of this paper is to discover and empirically test the knowledge gap exist with regard to the role that integrated marketing communication (IMC) plays in the enhancement of SMEs growth. A quantitative approach is followed in this paper, with a questionnaire as the research instrument and questionnaire items established through a literature review. A sample of 374 SMEs owners/managers agreed to complete the questionnaire. In order to give a descriptive overview of variables relevant to the objectives of the study, a Cronbach test was performed. Certain ability in marketing communication by SMEs was evident from the sample. However, very few marketing communication tools are fully applied in order to enhance SMEs growth. A significant starting point, in attaching importance to the role of IMC enhancement of SMEs growth, is constituted by this paper’s sample, even though it is restrictively small. Practitioners may, from this paper, understand where intervention guidelines are needed, in order to improve an IMC plan needed for SMEs. Compared to previous research done on large company practices, this paper represents an original trial to empirically apply the marketing communication approach within SMEs.