The effect of the exchange rate on economic growth in South Africa
- Authors: Maxwele, Chuma
- Date: 2019
- Subjects: Foreign exchange rates -- South Africa , Foreign exchange rates -- South Africa -- Econometric models Economic development -- South Africa South Africa -- Economic conditions -- Econometric models
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/41548 , vital:36505
- Description: The study examines the effect of the exchange rate on South African economic growth rate, as this relationship is of paramount importance in South Africa, since the country has a highly volatile exchange rate in among emerging economies, and this has a significant impact on economic growth. The exchange rate can be explained or defined as the value of the home country or domestic currency in relation to foreign currencies, and economic growth, which is measured in terms of gross domestic product (GDP), which is the measure of currently produced final output in a country at a specific time period, usually a year or quarter. It has been long known that an inadequately or poorly managed exchange rate can be problematic in a country’s economic growth rate. Some economists point out that management of a country’s foreign exchange market is of utmost importance. Furthermore, bad exchange rate management can lead to unstable international relations that detrimentally affect the international trade of a country and cause large speculative financial flows, which could cause financial markets to be disrupted and also lead inefficient allocation of funds. At the same time, competitive exchange rate promotes a suitable economic environment that is a precondition when it comes to expanding of international trade and investment, and gaining of higher economic growth in a country. The purpose of this study is to investigate the effect of the exchange rate on economic growth in South Africa. This study employs a newly developed econometric technique known as non-linear autoregressive distributive lag (NARDL). This study employs annual data for the period of 1970 to 2017. The first variable is the real effective exchange rate of the rand, and the study compares the value of the rand against the currencies of the twenty trading partners. The second variable is economic growth, which is measured in terms of the gross domestic product (GDP). GDP is the value of output produced within the region or borders of a country during a period of time, usually a year or quarter. Investment is another variable used, and it is categorised into economic investment (capital formation) and financial investment but the study adopts economic investment. Economic investment is the quantity of capital stock in a society, simple put it is goods used in the making of other goods. Government expenditure is also used in the study, and government expenditure is about public goods and services provided to society, and is a major component of gross domestic product. The last variable employed in the study is broad money supply as a percentage of GDP, which can be explained as the sum of the currency outside financial institutions, such as demand deposits other than the ones for government, the time, savings, and foreign currency of residents other than the government. GDP data was obtained from the electronic data bases of South African Reserve Bank, and all the remaining variables were obtained from the electronic data bases of the World Bank. The results of the NARDL model indicate that a positive change of the real effective exchange rate has a positive and significant effect on the gross domestic product in the long-run, while a negative change of the real effective exchange rate has a negative and significant effect on the gross domestic product in the long-run. In the short-run, the results also behave in the same manner as in the long-run. The study recommends that the real effective exchange rate should not be the only area to look into when trying to improve economic growth in South Africa. Investments must be looked into as well, and South Africa needs more growth desperately.
- Full Text:
- Date Issued: 2019
- Authors: Maxwele, Chuma
- Date: 2019
- Subjects: Foreign exchange rates -- South Africa , Foreign exchange rates -- South Africa -- Econometric models Economic development -- South Africa South Africa -- Economic conditions -- Econometric models
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/41548 , vital:36505
- Description: The study examines the effect of the exchange rate on South African economic growth rate, as this relationship is of paramount importance in South Africa, since the country has a highly volatile exchange rate in among emerging economies, and this has a significant impact on economic growth. The exchange rate can be explained or defined as the value of the home country or domestic currency in relation to foreign currencies, and economic growth, which is measured in terms of gross domestic product (GDP), which is the measure of currently produced final output in a country at a specific time period, usually a year or quarter. It has been long known that an inadequately or poorly managed exchange rate can be problematic in a country’s economic growth rate. Some economists point out that management of a country’s foreign exchange market is of utmost importance. Furthermore, bad exchange rate management can lead to unstable international relations that detrimentally affect the international trade of a country and cause large speculative financial flows, which could cause financial markets to be disrupted and also lead inefficient allocation of funds. At the same time, competitive exchange rate promotes a suitable economic environment that is a precondition when it comes to expanding of international trade and investment, and gaining of higher economic growth in a country. The purpose of this study is to investigate the effect of the exchange rate on economic growth in South Africa. This study employs a newly developed econometric technique known as non-linear autoregressive distributive lag (NARDL). This study employs annual data for the period of 1970 to 2017. The first variable is the real effective exchange rate of the rand, and the study compares the value of the rand against the currencies of the twenty trading partners. The second variable is economic growth, which is measured in terms of the gross domestic product (GDP). GDP is the value of output produced within the region or borders of a country during a period of time, usually a year or quarter. Investment is another variable used, and it is categorised into economic investment (capital formation) and financial investment but the study adopts economic investment. Economic investment is the quantity of capital stock in a society, simple put it is goods used in the making of other goods. Government expenditure is also used in the study, and government expenditure is about public goods and services provided to society, and is a major component of gross domestic product. The last variable employed in the study is broad money supply as a percentage of GDP, which can be explained as the sum of the currency outside financial institutions, such as demand deposits other than the ones for government, the time, savings, and foreign currency of residents other than the government. GDP data was obtained from the electronic data bases of South African Reserve Bank, and all the remaining variables were obtained from the electronic data bases of the World Bank. The results of the NARDL model indicate that a positive change of the real effective exchange rate has a positive and significant effect on the gross domestic product in the long-run, while a negative change of the real effective exchange rate has a negative and significant effect on the gross domestic product in the long-run. In the short-run, the results also behave in the same manner as in the long-run. The study recommends that the real effective exchange rate should not be the only area to look into when trying to improve economic growth in South Africa. Investments must be looked into as well, and South Africa needs more growth desperately.
- Full Text:
- Date Issued: 2019
The relationship between psychological capital and work engagement in a work setting
- Authors: Rennick, Ashlynne Tamsyn
- Date: 2019
- Subjects: Employees -- Psychology , Employee motivation Human capital -- Psychological aspects Work -- Psychological aspects Psychology, Industrial
- Language: English
- Type: Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10948/43534 , vital:36907
- Description: According to research, psychological capital (PsyCap) and work engagement are two constructs within the realm of positive psychology that have a positive impact on employees. The importance of work engagement in organisations is evident in the global interest in human capital development. Work engagement has several positive outcomes such as job satisfaction, job performance and well-being that have been linked to PsyCap. Considering Positive Organisational Behaviour (POB) and understanding how this has an impact on public service sector employees is important. The purpose of this research is to describe the relationship between PsyCap and work engagement. The study was conducted in order to understand the levels of PsyCap and work engagement that exist in a work setting given the current global economic changes. A convenience survey design was used with a nonprobability sample (N=155) of NGO employees across South Africa in Port Elizabeth, East London and Johannesburg. The measuring instruments consisted of the Psychological Capital Questionnaire (PCQ-24), the Utrecht Work Engagement Scale (UWES-17) and a biographical questionnaire. The data was collected using the pencil-and-paper method. Demographic groups showed significant differences in the means for both PsyCap and work engagement. The study also found that participants scored high on work engagement and its dimensions indicating that participants experienced high levels of engagement in their work-related tasks. Consistent with previous research, the results of this study showed that PsyCap is a predictor of work engagement, indicating a positive relationship between the dimensions of PsyCap and the dimensions of work engagement.
- Full Text:
- Date Issued: 2019
- Authors: Rennick, Ashlynne Tamsyn
- Date: 2019
- Subjects: Employees -- Psychology , Employee motivation Human capital -- Psychological aspects Work -- Psychological aspects Psychology, Industrial
- Language: English
- Type: Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10948/43534 , vital:36907
- Description: According to research, psychological capital (PsyCap) and work engagement are two constructs within the realm of positive psychology that have a positive impact on employees. The importance of work engagement in organisations is evident in the global interest in human capital development. Work engagement has several positive outcomes such as job satisfaction, job performance and well-being that have been linked to PsyCap. Considering Positive Organisational Behaviour (POB) and understanding how this has an impact on public service sector employees is important. The purpose of this research is to describe the relationship between PsyCap and work engagement. The study was conducted in order to understand the levels of PsyCap and work engagement that exist in a work setting given the current global economic changes. A convenience survey design was used with a nonprobability sample (N=155) of NGO employees across South Africa in Port Elizabeth, East London and Johannesburg. The measuring instruments consisted of the Psychological Capital Questionnaire (PCQ-24), the Utrecht Work Engagement Scale (UWES-17) and a biographical questionnaire. The data was collected using the pencil-and-paper method. Demographic groups showed significant differences in the means for both PsyCap and work engagement. The study also found that participants scored high on work engagement and its dimensions indicating that participants experienced high levels of engagement in their work-related tasks. Consistent with previous research, the results of this study showed that PsyCap is a predictor of work engagement, indicating a positive relationship between the dimensions of PsyCap and the dimensions of work engagement.
- Full Text:
- Date Issued: 2019
Evaluating the importance of mangroves as fish nurseries in selected warm temperate South African estuaries
- Authors: Muller, Cuen
- Date: 2017
- Subjects: Mangrove ecology -- South Africa Mangrove fisheries -- South Africa , Estuarine ecology -- South Africa
- Language: English
- Type: Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10948/12080 , vital:27029
- Description: The value of mangrove habitats as fish nurseries was assessed by comparing communities of early stage and juvenile fishes between estuaries with and without mangroves. Early stage fishes were sampled using boat-based plankton towing while juveniles were sampled by seine netting. Sampling took place at five sites spaced 1 km apart starting near the estuary mouth in four estuaries along the temperate coastline of the Eastern Cape Province of South Africa. Four estuaries were selected based on shared similarities which included catchment area, estuarine area and shared habitats barring the presence of mangroves which occupied the river margins of two systems. Results revealed that early stage and juvenile fish communities (both marine- and estuary-spawned) were similar between systems with and without mangrove habitats. Differences in fish communities among estuaries were rather attributed to axial salinity gradients associated with greater freshwater input, while season and temperature produced significant variances in fish densities with Generalised Additive Models revealing responses of communities to these variables. A common estuarine-dependent fish, Rhabdosargus holubi (Family Sparidae), was further investigated to determine habitat use, residency and dietary patterns in different mangrove habitats. High habitat residency in this species was revealed during a short-term tagging study using Visible Implant Elastomer tags and long-term isotope analysis in juveniles sampled from two contrasting mangrove habitats. A wider feeding niche was observed in an eelgrass-red mangrove connected habitat when compared with more exposed white mangrove areas. Low dependence on mangrove habitats in temperate estuaries is likely due to their tidally dominated inundation and limited refuge potential due to smaller area coverage by mangroves in temperate estuaries. Relatively lower primary productivity in warm temperate mangrove areas, relative to their tropical counterparts, provides no significant feeding advantage or refuge opportunities relative to other available habitats in these estuaries. Warm temperate estuaries, which are both spatially and temporally highly variable, instead host species which are habitat generalists, able to capitalise on these highly dynamic environments.
- Full Text:
- Date Issued: 2017
- Authors: Muller, Cuen
- Date: 2017
- Subjects: Mangrove ecology -- South Africa Mangrove fisheries -- South Africa , Estuarine ecology -- South Africa
- Language: English
- Type: Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10948/12080 , vital:27029
- Description: The value of mangrove habitats as fish nurseries was assessed by comparing communities of early stage and juvenile fishes between estuaries with and without mangroves. Early stage fishes were sampled using boat-based plankton towing while juveniles were sampled by seine netting. Sampling took place at five sites spaced 1 km apart starting near the estuary mouth in four estuaries along the temperate coastline of the Eastern Cape Province of South Africa. Four estuaries were selected based on shared similarities which included catchment area, estuarine area and shared habitats barring the presence of mangroves which occupied the river margins of two systems. Results revealed that early stage and juvenile fish communities (both marine- and estuary-spawned) were similar between systems with and without mangrove habitats. Differences in fish communities among estuaries were rather attributed to axial salinity gradients associated with greater freshwater input, while season and temperature produced significant variances in fish densities with Generalised Additive Models revealing responses of communities to these variables. A common estuarine-dependent fish, Rhabdosargus holubi (Family Sparidae), was further investigated to determine habitat use, residency and dietary patterns in different mangrove habitats. High habitat residency in this species was revealed during a short-term tagging study using Visible Implant Elastomer tags and long-term isotope analysis in juveniles sampled from two contrasting mangrove habitats. A wider feeding niche was observed in an eelgrass-red mangrove connected habitat when compared with more exposed white mangrove areas. Low dependence on mangrove habitats in temperate estuaries is likely due to their tidally dominated inundation and limited refuge potential due to smaller area coverage by mangroves in temperate estuaries. Relatively lower primary productivity in warm temperate mangrove areas, relative to their tropical counterparts, provides no significant feeding advantage or refuge opportunities relative to other available habitats in these estuaries. Warm temperate estuaries, which are both spatially and temporally highly variable, instead host species which are habitat generalists, able to capitalise on these highly dynamic environments.
- Full Text:
- Date Issued: 2017
Social networking services in support of patient centred care: a South African perspective
- Mentoor, Allisson Catherine Ebony
- Authors: Mentoor, Allisson Catherine Ebony
- Date: 2017
- Subjects: Online social networks -- Research -- South Africa , Medical care -- Technological innovations -- South Africa , Patient-centered health care -- South Africa
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: http://hdl.handle.net/10948/7334 , vital:21321
- Description: In an effort to improve the South African healthcare system, the Department of Health in South Africa is investing in National Health Insurance to support and deliver access to quality healthcare services within affordable boundaries. Enhanced delivery and quality of care to patients is supplemented through an increased emphasis on the adoption of eHealth technologies and systems. Within the context of efforts to improve access to quality and affordable healthcare services, there is also increasing awareness of the need to adopt a patient centred care approach as a means of caring for the patient, rather than only caring for the disease. Patient centred care emphasises the need for patients to be actively involved in the decision making process with regards to their needs and treatment. Social networking is viewed as a useful tool to support patient centred care and to improve on healthcare delivery. The use of social networking services beyond the healthcare context has increased exponentially. This has lead to increased interest in the application of social networking in healthcare. This leads to the problem statement of this research, which is the proliferation of social networking services and the lack of understanding of the prospect of social networking services for patient centred care in South Africa. In order to address this problem, the research investigates three areas of focus, namely patient centred care, the South African healthcare sector and social networking services. This generates an understanding of the meaning of patient centred care in general, and also in this study; the status quo in South African healthcare and the incorporation of patient centred care within selected strategic healthcare directives; social networking services in general as well as its application in healthcare; and the factors affecting the use of social networking services for patient centred care in the South African healthcare context. The factors are analysed to explore the prospects of social networking services for patient centred care in South African healthcare. The outcome of this analysis represents a useful input for healthcare providers and administrators in government.
- Full Text:
- Date Issued: 2017
- Authors: Mentoor, Allisson Catherine Ebony
- Date: 2017
- Subjects: Online social networks -- Research -- South Africa , Medical care -- Technological innovations -- South Africa , Patient-centered health care -- South Africa
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: http://hdl.handle.net/10948/7334 , vital:21321
- Description: In an effort to improve the South African healthcare system, the Department of Health in South Africa is investing in National Health Insurance to support and deliver access to quality healthcare services within affordable boundaries. Enhanced delivery and quality of care to patients is supplemented through an increased emphasis on the adoption of eHealth technologies and systems. Within the context of efforts to improve access to quality and affordable healthcare services, there is also increasing awareness of the need to adopt a patient centred care approach as a means of caring for the patient, rather than only caring for the disease. Patient centred care emphasises the need for patients to be actively involved in the decision making process with regards to their needs and treatment. Social networking is viewed as a useful tool to support patient centred care and to improve on healthcare delivery. The use of social networking services beyond the healthcare context has increased exponentially. This has lead to increased interest in the application of social networking in healthcare. This leads to the problem statement of this research, which is the proliferation of social networking services and the lack of understanding of the prospect of social networking services for patient centred care in South Africa. In order to address this problem, the research investigates three areas of focus, namely patient centred care, the South African healthcare sector and social networking services. This generates an understanding of the meaning of patient centred care in general, and also in this study; the status quo in South African healthcare and the incorporation of patient centred care within selected strategic healthcare directives; social networking services in general as well as its application in healthcare; and the factors affecting the use of social networking services for patient centred care in the South African healthcare context. The factors are analysed to explore the prospects of social networking services for patient centred care in South African healthcare. The outcome of this analysis represents a useful input for healthcare providers and administrators in government.
- Full Text:
- Date Issued: 2017
Reviewing medium: paint as flesh
- Authors: Fuller, Michele
- Date: 2011
- Subjects: Figure painting -- Exhibitions , Human figure in art -- Exhibitions , Anatomy, Artistic -- Exhibitions , Cadaver in art -- Exhibitions
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:8532 , http://hdl.handle.net/10948/d1008590 , Figure painting -- Exhibitions , Human figure in art -- Exhibitions , Anatomy, Artistic -- Exhibitions , Cadaver in art -- Exhibitions
- Description: The research question explored in this exhibition and dissertation was to review the conventional notions of craftsmanship and the use of the specific medium of oil paint with reference to the art of Rembrandt and Damien Hirst. The subject matter is flesh. This study foregrounds the involvement and acknowledgment of the corporeal body, the hand of the artist, and of the organic material reality of our existence and the objects that surround us. The paintings reflect a series of interventions that resulted in abstracted images based on photographs of meat. Once a detail had emerged that emphasised the fleshiness of the selected image, it was printed by a professional printing company. These details were then translated into oil paintings. What is explored is the specific material qualities of the binding mediums traditionally associated with the use of oil painting to create expressive paintings. In the creation of the series of paintings, I prepared binding mediums consisting of wax, stand oil, damar varnish, zel-ken liquin and acrylic paste medium mixed with manufactured readymade oil paints. Consequently the choice and exploration of the material possibilities of a specific medium becomes content, using art to explore the idea of art. Paint becomes flesh-like, having congealed over the surface of the technical support. These paintings propose an internal and an external reality simultaneously referenced through the flesh-like surface, pierced and cut to reveal multiple layers created on the supporting structure (wood and canvas) with the use of a specific medium, oil paint, combined with a variety of other binding mediums. The edges of the unframed paintings play an important role assuming a specific physical presence, enabling them to define themselves as boundaries, both of the paintings particular field of forces and of the viewer’s aesthetic experience. They are no longer edges or frames in the conventional sense, but become other surfaces that are of equal significance in the reading or viewing of the work. Finally, the notion of an exhibition site being neutral or given is contested and, as a result, the contemporary artist needs to be mindful of site specificity in relation to the exhibition of the artworks. This series of paintings is intended to communicate as a body of work, reflecting an individual vision: a recurring, introspective process that is always unfolding. The body is constantly recreated by each individual viewer, and the context or site of display. The artist’s intention is to activate the viewer’s heightened awareness and response to the conscious arrangement of the collection of canvases, as each one represents a fragment or detail of a flayed carcass.
- Full Text:
- Date Issued: 2011
- Authors: Fuller, Michele
- Date: 2011
- Subjects: Figure painting -- Exhibitions , Human figure in art -- Exhibitions , Anatomy, Artistic -- Exhibitions , Cadaver in art -- Exhibitions
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:8532 , http://hdl.handle.net/10948/d1008590 , Figure painting -- Exhibitions , Human figure in art -- Exhibitions , Anatomy, Artistic -- Exhibitions , Cadaver in art -- Exhibitions
- Description: The research question explored in this exhibition and dissertation was to review the conventional notions of craftsmanship and the use of the specific medium of oil paint with reference to the art of Rembrandt and Damien Hirst. The subject matter is flesh. This study foregrounds the involvement and acknowledgment of the corporeal body, the hand of the artist, and of the organic material reality of our existence and the objects that surround us. The paintings reflect a series of interventions that resulted in abstracted images based on photographs of meat. Once a detail had emerged that emphasised the fleshiness of the selected image, it was printed by a professional printing company. These details were then translated into oil paintings. What is explored is the specific material qualities of the binding mediums traditionally associated with the use of oil painting to create expressive paintings. In the creation of the series of paintings, I prepared binding mediums consisting of wax, stand oil, damar varnish, zel-ken liquin and acrylic paste medium mixed with manufactured readymade oil paints. Consequently the choice and exploration of the material possibilities of a specific medium becomes content, using art to explore the idea of art. Paint becomes flesh-like, having congealed over the surface of the technical support. These paintings propose an internal and an external reality simultaneously referenced through the flesh-like surface, pierced and cut to reveal multiple layers created on the supporting structure (wood and canvas) with the use of a specific medium, oil paint, combined with a variety of other binding mediums. The edges of the unframed paintings play an important role assuming a specific physical presence, enabling them to define themselves as boundaries, both of the paintings particular field of forces and of the viewer’s aesthetic experience. They are no longer edges or frames in the conventional sense, but become other surfaces that are of equal significance in the reading or viewing of the work. Finally, the notion of an exhibition site being neutral or given is contested and, as a result, the contemporary artist needs to be mindful of site specificity in relation to the exhibition of the artworks. This series of paintings is intended to communicate as a body of work, reflecting an individual vision: a recurring, introspective process that is always unfolding. The body is constantly recreated by each individual viewer, and the context or site of display. The artist’s intention is to activate the viewer’s heightened awareness and response to the conscious arrangement of the collection of canvases, as each one represents a fragment or detail of a flayed carcass.
- Full Text:
- Date Issued: 2011
An investigation into the extent of focus by Metropolitan Retail, South Africa on the technology innovation capabilities and perspectives
- Authors: Motsoeneng, Thato Simon
- Date: 2005
- Subjects: Business enterprises -- Technological innovations , Insurance companies -- Technological innovations -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8599 , http://hdl.handle.net/10948/415 , Business enterprises -- Technological innovations , Insurance companies -- Technological innovations -- South Africa
- Description: This paper reviews the literature on innovation in order to build an agenda for an investigation into the extent to which Metropolitan Retail, within Metropolitan Life Pty in South Africa, focuses on technology innovation capabilities and perspectives. The research was conducted in the areas of, technology innovation capabilities, perspectives guiding the business strategy to integrate and accelerate innovation and contextual aspects influencing innovation perspectives. The extent of focus by the firm on capabilities and perspectives was measured. Data gathered was disseminated and processed by means of Microsoft Excel spreadsheets. The results on current focus indicate that the firm’s focus is mostly on improving core business, although the extent is less than adequate. In other words, generate incremental innovations that can be developed and implemented rapidly and inexpensively. This approach of implementing innovation is in line with the business strategy, more specifically, with the objective of reducing costs and making profits. The findings of the research further suggest that the firm should consider focusing mostly on exploiting strategic advantages. In many firms the fundamental emphasis on technology innovation in developing products, processes and services is thought to determine their ability to cope with never ending customer demands and competitive practices. Coupled with this thought is a reality of high failure rate of technology innovation projects. Against this backdrop, general managers are faced with strategic innovation options, which can make or break firms. Changes in the economic and government environments influence the innovation approach of the firm most. These changes have undoubtedly presented firms with opportunities as well as risks. Possibly the greatest challenge confronting general managers in this context is the building of critical capabilities to enhance the firm’s agility. This challenge presents opportunity for further research.
- Full Text:
- Date Issued: 2005
- Authors: Motsoeneng, Thato Simon
- Date: 2005
- Subjects: Business enterprises -- Technological innovations , Insurance companies -- Technological innovations -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8599 , http://hdl.handle.net/10948/415 , Business enterprises -- Technological innovations , Insurance companies -- Technological innovations -- South Africa
- Description: This paper reviews the literature on innovation in order to build an agenda for an investigation into the extent to which Metropolitan Retail, within Metropolitan Life Pty in South Africa, focuses on technology innovation capabilities and perspectives. The research was conducted in the areas of, technology innovation capabilities, perspectives guiding the business strategy to integrate and accelerate innovation and contextual aspects influencing innovation perspectives. The extent of focus by the firm on capabilities and perspectives was measured. Data gathered was disseminated and processed by means of Microsoft Excel spreadsheets. The results on current focus indicate that the firm’s focus is mostly on improving core business, although the extent is less than adequate. In other words, generate incremental innovations that can be developed and implemented rapidly and inexpensively. This approach of implementing innovation is in line with the business strategy, more specifically, with the objective of reducing costs and making profits. The findings of the research further suggest that the firm should consider focusing mostly on exploiting strategic advantages. In many firms the fundamental emphasis on technology innovation in developing products, processes and services is thought to determine their ability to cope with never ending customer demands and competitive practices. Coupled with this thought is a reality of high failure rate of technology innovation projects. Against this backdrop, general managers are faced with strategic innovation options, which can make or break firms. Changes in the economic and government environments influence the innovation approach of the firm most. These changes have undoubtedly presented firms with opportunities as well as risks. Possibly the greatest challenge confronting general managers in this context is the building of critical capabilities to enhance the firm’s agility. This challenge presents opportunity for further research.
- Full Text:
- Date Issued: 2005
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