Beyond greening: reflections on the business sustainability imperative
- Authors: Smith, Elroy Eugene
- Subjects: Sustainable development , Environmental economics , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20768 , vital:29387
- Description: This paper sets out to reflect that organisations should go beyond greening and embrace the sustainability imperative. The concept of greening and environmentalism reached a ceiling as it focuses only on short-term green issues rather than on long-term sustainability goals. Narrow concerns for the natural environment often dilute the true meaning of sustainability. Yet, the field of sustainability is much broader than just focusing on environmental issues. Most contemporary executives know that their response to the challenges of sustainability could seriously affect the competitiveness and survival of their organisations. Despite this notion, most are failing by launching a few greening initiatives without a clear sustainability vision and plan. The sustainability discourse expanded the manner in which organisational success is measured, using values and criteria from the economic, environmental and social realms – commonly known as the triple bottom line. The idea is to balance the needs of people, the planet and the organisation’s profits to create long-term shareholder value. The concept of sustainability has suffered from a proliferation of definitions, meaning many things to different people. However, consensus is forming that sustainability refers to the process by which sound economic systems operate well within the biophysical constraints of the ecosystem to provide a good quality of life that is socially appropriate for current and future generations. Sustainability is bigger than a publicity stunt, green products or occasional acknowledgement to on-going efforts to save the planet. Although greening will be a central part of the way business is conducted, green alone is not a broad enough platform to sustain a business in the long-run. There is a need to look beyond the green aspects of sustainability and also using the social, economic and cultural aspects to build a successful and sustainable organisation. 2 This paper addresses aspects such as the sustainability paradigm, dimensions and drivers of sustainability, statistical evidence of sustainability, national framework for sustainable development in South Africa, a sustainability case example and challenges of sustainability.
- Full Text:
- Authors: Smith, Elroy Eugene
- Subjects: Sustainable development , Environmental economics , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20768 , vital:29387
- Description: This paper sets out to reflect that organisations should go beyond greening and embrace the sustainability imperative. The concept of greening and environmentalism reached a ceiling as it focuses only on short-term green issues rather than on long-term sustainability goals. Narrow concerns for the natural environment often dilute the true meaning of sustainability. Yet, the field of sustainability is much broader than just focusing on environmental issues. Most contemporary executives know that their response to the challenges of sustainability could seriously affect the competitiveness and survival of their organisations. Despite this notion, most are failing by launching a few greening initiatives without a clear sustainability vision and plan. The sustainability discourse expanded the manner in which organisational success is measured, using values and criteria from the economic, environmental and social realms – commonly known as the triple bottom line. The idea is to balance the needs of people, the planet and the organisation’s profits to create long-term shareholder value. The concept of sustainability has suffered from a proliferation of definitions, meaning many things to different people. However, consensus is forming that sustainability refers to the process by which sound economic systems operate well within the biophysical constraints of the ecosystem to provide a good quality of life that is socially appropriate for current and future generations. Sustainability is bigger than a publicity stunt, green products or occasional acknowledgement to on-going efforts to save the planet. Although greening will be a central part of the way business is conducted, green alone is not a broad enough platform to sustain a business in the long-run. There is a need to look beyond the green aspects of sustainability and also using the social, economic and cultural aspects to build a successful and sustainable organisation. 2 This paper addresses aspects such as the sustainability paradigm, dimensions and drivers of sustainability, statistical evidence of sustainability, national framework for sustainable development in South Africa, a sustainability case example and challenges of sustainability.
- Full Text:
Demystifying leadership connectivity: rediscovering the soul of leadership
- Authors: Poisat, Paul
- Subjects: Leadership , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/35773 , vital:33811
- Description: INTRODUCTION: A Google search on ‘leadership’ produced 4.2 million articles, books, blogs and webinars on how to become a better leader. Most of the literature, comprising experts and the popular press, abound with formulistic prescriptive steps endorsed by two or three iconic figures that support their regimen. Regardless of the plethora of literature in leadership providing practical and logical tactics, many fall short on implementation and thus result in failure. What numerous sources fail to acknowledge is that the great leaders apply these tactics together with their innate skills to offer clear direction for themselves and their followers. Providing a clear vision and/or strategy to deal with uncertainty and ambiguity is one of the foremost abilities distinguishing leaders in our rapidly changing world and the ability to take employees with them. In addition, various individual (personality, values, cultural, ability) and contextual (nature of the business, complexity, rate of change, work team, diversity) factors may contribute to leadership failure that is characterised by a lack of vision, uncertainty, bullying, management by exclusion, and in extreme cases fraud and corruption. Regardless of the proliferation of leadership literature the world has never been more desperate for sound leadership. We have enough leaders but not enough leadership. With all the literature on leadership, how do you find the essence of leadership?
- Full Text:
- Authors: Poisat, Paul
- Subjects: Leadership , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/35773 , vital:33811
- Description: INTRODUCTION: A Google search on ‘leadership’ produced 4.2 million articles, books, blogs and webinars on how to become a better leader. Most of the literature, comprising experts and the popular press, abound with formulistic prescriptive steps endorsed by two or three iconic figures that support their regimen. Regardless of the plethora of literature in leadership providing practical and logical tactics, many fall short on implementation and thus result in failure. What numerous sources fail to acknowledge is that the great leaders apply these tactics together with their innate skills to offer clear direction for themselves and their followers. Providing a clear vision and/or strategy to deal with uncertainty and ambiguity is one of the foremost abilities distinguishing leaders in our rapidly changing world and the ability to take employees with them. In addition, various individual (personality, values, cultural, ability) and contextual (nature of the business, complexity, rate of change, work team, diversity) factors may contribute to leadership failure that is characterised by a lack of vision, uncertainty, bullying, management by exclusion, and in extreme cases fraud and corruption. Regardless of the proliferation of leadership literature the world has never been more desperate for sound leadership. We have enough leaders but not enough leadership. With all the literature on leadership, how do you find the essence of leadership?
- Full Text:
Environmental ethics, protection and valuation
- Authors: Du Preez, M
- Subjects: Environmental ethics , Environmental protection , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21022 , vital:29428
- Description: This lecture addresses the environmental ethics, protection and valuation of natural assets. The aim of the lecture is threefold: first, to present a bio-ethical argument for the extension of our moral reference class to include all conscious and non-conscious natural assets; second, to discuss the moral significance of a broader moral reference class in terms of Aldo Leopold’s ‘Land Ethic’; third, to discuss the valuation of natural assets from a system’s perspective with specific reference to the estimation of non-use values. In what follows, Section I discusses environmental protection from a bioethical point of view, Section II discusses the moral significance of a broader moral reference class in terms of Aldo Leopold’s ‘Land Ethic’, Section III describes the concept of valuing natural assets with specific reference to the concept of non-use value and its measurement, and finally, Section IV concludes the lecture.
- Full Text:
- Authors: Du Preez, M
- Subjects: Environmental ethics , Environmental protection , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21022 , vital:29428
- Description: This lecture addresses the environmental ethics, protection and valuation of natural assets. The aim of the lecture is threefold: first, to present a bio-ethical argument for the extension of our moral reference class to include all conscious and non-conscious natural assets; second, to discuss the moral significance of a broader moral reference class in terms of Aldo Leopold’s ‘Land Ethic’; third, to discuss the valuation of natural assets from a system’s perspective with specific reference to the estimation of non-use values. In what follows, Section I discusses environmental protection from a bioethical point of view, Section II discusses the moral significance of a broader moral reference class in terms of Aldo Leopold’s ‘Land Ethic’, Section III describes the concept of valuing natural assets with specific reference to the concept of non-use value and its measurement, and finally, Section IV concludes the lecture.
- Full Text:
Ethics, cultures, fraud and corruption: the unanswered questions
- Authors: Fourie, Houdini
- Subjects: Fraud -- Moral and ethical aspects , Fraud -- South Africa , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/31797 , vital:31846
- Description: idea for the paper emanated from my concern regarding the absolute flood of unethical behaviour in recent times. Fraud and corruption in South Africa is rife and it seems that the average person has no control over what comes next. Considering the impacts of peoples’ background, social standing and culture, the paper considered the psychological processes through which learning of habits and mannerisms take place; and how it influences ethical behaviour. Valuable lessons are learnt, namely that culture, whether it being ethnical, organisational, family or religious, have a direct impact on a person’s ethical value system and subsequently on whether a person is inclined to partake in fraud and corrupt activities. Fraud and corruption can cripple and destroy organisations and its auditors. Fraud and corruption are costly. The paper reports that it is ultimately the responsibility of executive management to manage fraud and associated risks – management must set the “Tone at the Top”. Managing ethics is costly, but ignoring it is fatal. Although it is not the primary responsibility of auditors to detect and investigate fraud and corruption, the accounting profession needs to do introspection to determine what society expects of them. A mere audit opinion on annual financial statements does not satisfy the demands of society any more. The question is apparently not whether fraud will occur in organisations, but rather when and that everybody must insist on doing the right thing – for the greater good.
- Full Text:
- Authors: Fourie, Houdini
- Subjects: Fraud -- Moral and ethical aspects , Fraud -- South Africa , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/31797 , vital:31846
- Description: idea for the paper emanated from my concern regarding the absolute flood of unethical behaviour in recent times. Fraud and corruption in South Africa is rife and it seems that the average person has no control over what comes next. Considering the impacts of peoples’ background, social standing and culture, the paper considered the psychological processes through which learning of habits and mannerisms take place; and how it influences ethical behaviour. Valuable lessons are learnt, namely that culture, whether it being ethnical, organisational, family or religious, have a direct impact on a person’s ethical value system and subsequently on whether a person is inclined to partake in fraud and corrupt activities. Fraud and corruption can cripple and destroy organisations and its auditors. Fraud and corruption are costly. The paper reports that it is ultimately the responsibility of executive management to manage fraud and associated risks – management must set the “Tone at the Top”. Managing ethics is costly, but ignoring it is fatal. Although it is not the primary responsibility of auditors to detect and investigate fraud and corruption, the accounting profession needs to do introspection to determine what society expects of them. A mere audit opinion on annual financial statements does not satisfy the demands of society any more. The question is apparently not whether fraud will occur in organisations, but rather when and that everybody must insist on doing the right thing – for the greater good.
- Full Text:
Family business: a legitimate scholarly field
- Authors: Farrington, Shelley M
- Subjects: Family-owned business enterprises , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20934 , vital:29420
- Description: My lecture this afternoon is titled “Family business: A legitimate scholarly field”. I will first provide you with some background to family businesses and their prominence and contributions worldwide. This will be followed by an overview of how the field has evolved and where it is today. I will highlight the key role players in this evolution, some of the main challenges facing the field as well as the reasons why scholars study these businesses. I will conclude by highlighting how I believe that research on family business in South Africa can contribute to the field as a whole.
- Full Text:
- Authors: Farrington, Shelley M
- Subjects: Family-owned business enterprises , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20934 , vital:29420
- Description: My lecture this afternoon is titled “Family business: A legitimate scholarly field”. I will first provide you with some background to family businesses and their prominence and contributions worldwide. This will be followed by an overview of how the field has evolved and where it is today. I will highlight the key role players in this evolution, some of the main challenges facing the field as well as the reasons why scholars study these businesses. I will conclude by highlighting how I believe that research on family business in South Africa can contribute to the field as a whole.
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Happiness: a business model
- Authors: Cullen, Margaret
- Subjects: Happiness , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20956 , vital:29422
- Description: The concept of happiness might appear elusive. It has been extensively analysed by philosophers and historians, who agree that the concept of happiness in antiquity centered on good luck and fortune. Something beyond human agency and therefore controlled by the Gods (McMahon, 2006).Today, happiness is viewed as something over which you can have control and something that can be pursued (Oishi, 2012).
- Full Text:
- Authors: Cullen, Margaret
- Subjects: Happiness , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20956 , vital:29422
- Description: The concept of happiness might appear elusive. It has been extensively analysed by philosophers and historians, who agree that the concept of happiness in antiquity centered on good luck and fortune. Something beyond human agency and therefore controlled by the Gods (McMahon, 2006).Today, happiness is viewed as something over which you can have control and something that can be pursued (Oishi, 2012).
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Innovation through education: rediscovering the lost generation
- Authors: Pieterse, Koot
- Subjects: Business incubators , Entrepreneurship , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20889 , vital:29411
- Description: Innovation implies the generation as well as the practical implementation of new ideas. These ideas could appear as new product opportunities, new markets or new management systems and business schools are ideally situated to promote their exploitation and implementation. This study emphasises the need for business schools to elevate innovation to one of the core values in their mission. The need for innovation in the local business environment is explored along with reasons why these opportunities have not always been pursued with the required vigour. The results of a literature study are represented, that demonstrate what initiatives on the incorporation of innovation into their activities have been taken by a selection of business schools around the world and the study is concluded by exploring similar opportunities open to the Business School of the Nelson Mandela Metropolitan University.
- Full Text:
- Authors: Pieterse, Koot
- Subjects: Business incubators , Entrepreneurship , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20889 , vital:29411
- Description: Innovation implies the generation as well as the practical implementation of new ideas. These ideas could appear as new product opportunities, new markets or new management systems and business schools are ideally situated to promote their exploitation and implementation. This study emphasises the need for business schools to elevate innovation to one of the core values in their mission. The need for innovation in the local business environment is explored along with reasons why these opportunities have not always been pursued with the required vigour. The results of a literature study are represented, that demonstrate what initiatives on the incorporation of innovation into their activities have been taken by a selection of business schools around the world and the study is concluded by exploring similar opportunities open to the Business School of the Nelson Mandela Metropolitan University.
- Full Text:
Instruments available to the public to assess audit quality
- Authors: Prinsloo, Frans
- Subjects: Auditing -- South Africa , Quality control -- Auditing , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21928 , vital:29802
- Description: With the separation of ownership from day-to-day management that began to characterise many businesses following the industrial revolution, concern arose whether the day-to-day management (as agents) would bias information flows to the business owners (as principals) in order to enhance, say, their remuneration and their reputations as managers (AQF, 2005a: 6). To address these concerns, business owners require mechanisms, such as the external audit, to enable the effective assessment of the stewardship of the agents. Currently the role of the external auditor is to express an opinion on the fair representation of the annual financial statements prepared by management for the business owners.
- Full Text: false
- Authors: Prinsloo, Frans
- Subjects: Auditing -- South Africa , Quality control -- Auditing , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21928 , vital:29802
- Description: With the separation of ownership from day-to-day management that began to characterise many businesses following the industrial revolution, concern arose whether the day-to-day management (as agents) would bias information flows to the business owners (as principals) in order to enhance, say, their remuneration and their reputations as managers (AQF, 2005a: 6). To address these concerns, business owners require mechanisms, such as the external audit, to enable the effective assessment of the stewardship of the agents. Currently the role of the external auditor is to express an opinion on the fair representation of the annual financial statements prepared by management for the business owners.
- Full Text: false
Is e-business the saving grace for retailers during Covid-19?
- Authors: Kruger, Janine
- Subjects: Electronic commerce , COVID-19 Pandemic, 2020- -- Economic aspects , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/56470 , vital:56687
- Description: The question can be asked whether e-business is the saving grace for retailers during Covid-19. Without pondering on the question, we will immediately say yes due to the lived experiences we all have as final consumers of retailers. However, before answering the question, it is important to consider what transpired within the retail business environment. The world has turned upside down towards the end of 2019 due to the outbreak of Covid-19 while South Africa felt the effect of Covid-19 as from March 2020. As cited by Verhoef, Noordhoff and Sloot (2022), the retail industry has been heavily affected by the pandemic. Not only has the retail industry been affected, the life of consumers also changed as consumers did not have direct access to their favourite traditional brick-and mortar-retailers. As the customers of these retailers, we have the lived experiences of not being able to patronise these retailers for an extended period of time. Due to the hard lockdown restrictions imposed within the business environment on brick-and-mortar retailers, the retailers had to find different ways to reach and provide need satisfying products to their customers. According to the World Trade Organization (WTO) (2020) and Rindita et al (2021, p.108), the pandemic provided retailers with a good opportunity to develop and adopt an e-commerce strategy that can act as an economic driver. In addition, Gramling, Orschell and Chernoff (2021) state that e-commerce is essential for future existence of businesses. This is evident when considering that the South African e-commerce sector grew by 66% in 2020 when 2 compared to 2019 while in-store shopping has declined by 30% (Kibuacha 2021). These results are expected if we take into account the trading restrictions imposed on brick-and-mortar retailers during the Covid-19 lockdown. In addition, a study by Deloitte in 2021 showed that more than 70% of South African consumers are shopping online at least once a month while citing convenience and saving time for doing so (Kibuacha 2021). However, whether businesses are implementing a new strategy or expand an existing strategy, the brick-and-mortar retailers were required to adapt their strategies with the focus on business survival.
- Full Text:
- Authors: Kruger, Janine
- Subjects: Electronic commerce , COVID-19 Pandemic, 2020- -- Economic aspects , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/56470 , vital:56687
- Description: The question can be asked whether e-business is the saving grace for retailers during Covid-19. Without pondering on the question, we will immediately say yes due to the lived experiences we all have as final consumers of retailers. However, before answering the question, it is important to consider what transpired within the retail business environment. The world has turned upside down towards the end of 2019 due to the outbreak of Covid-19 while South Africa felt the effect of Covid-19 as from March 2020. As cited by Verhoef, Noordhoff and Sloot (2022), the retail industry has been heavily affected by the pandemic. Not only has the retail industry been affected, the life of consumers also changed as consumers did not have direct access to their favourite traditional brick-and mortar-retailers. As the customers of these retailers, we have the lived experiences of not being able to patronise these retailers for an extended period of time. Due to the hard lockdown restrictions imposed within the business environment on brick-and-mortar retailers, the retailers had to find different ways to reach and provide need satisfying products to their customers. According to the World Trade Organization (WTO) (2020) and Rindita et al (2021, p.108), the pandemic provided retailers with a good opportunity to develop and adopt an e-commerce strategy that can act as an economic driver. In addition, Gramling, Orschell and Chernoff (2021) state that e-commerce is essential for future existence of businesses. This is evident when considering that the South African e-commerce sector grew by 66% in 2020 when 2 compared to 2019 while in-store shopping has declined by 30% (Kibuacha 2021). These results are expected if we take into account the trading restrictions imposed on brick-and-mortar retailers during the Covid-19 lockdown. In addition, a study by Deloitte in 2021 showed that more than 70% of South African consumers are shopping online at least once a month while citing convenience and saving time for doing so (Kibuacha 2021). However, whether businesses are implementing a new strategy or expand an existing strategy, the brick-and-mortar retailers were required to adapt their strategies with the focus on business survival.
- Full Text:
Local economic development: disseminating global best practices to affect futuristic thinking in SA
- Authors: Perks, Sandra
- Subjects: Economic development , Economic development -- South Africa , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20966 , vital:29423
- Description: The aim of Local Economic Development (LED) is to ensure that the economy of a community, region or country grows faster than the population, so that there can be surplus resources for future expansion (Rucker, Kinnett & Barbash 2012). This suggests that LED is more than economic development at local level. LED is often not viewed from an economic perspective but from a political perspective. Birkhölzer (2005:3) outlines four possible political LED viewpoints. The first perspective is “development from above” with an authoritarian state dictating to regional government and local authorities. This perspective has been proven flawed when political or economic turbulences occur. The second perspective is “development from outside” with reliance on outside investors to bring into the country the necessary resources, mostly funding. This perspective is risky from a sustainability point of view. The third perspective is the “wait and see” where migration occurs if there are problems. This perspective is equally flawed as it is becoming increasingly difficult to migrate because it is so costly, and also finding the right place to go can prove to be problematic. The last perspective is the “development from within” where people play a key role, and do not rely on government or the economy to serve their needs or solve their problems; this points to self-sufficiency.
- Full Text:
- Authors: Perks, Sandra
- Subjects: Economic development , Economic development -- South Africa , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20966 , vital:29423
- Description: The aim of Local Economic Development (LED) is to ensure that the economy of a community, region or country grows faster than the population, so that there can be surplus resources for future expansion (Rucker, Kinnett & Barbash 2012). This suggests that LED is more than economic development at local level. LED is often not viewed from an economic perspective but from a political perspective. Birkhölzer (2005:3) outlines four possible political LED viewpoints. The first perspective is “development from above” with an authoritarian state dictating to regional government and local authorities. This perspective has been proven flawed when political or economic turbulences occur. The second perspective is “development from outside” with reliance on outside investors to bring into the country the necessary resources, mostly funding. This perspective is risky from a sustainability point of view. The third perspective is the “wait and see” where migration occurs if there are problems. This perspective is equally flawed as it is becoming increasingly difficult to migrate because it is so costly, and also finding the right place to go can prove to be problematic. The last perspective is the “development from within” where people play a key role, and do not rely on government or the economy to serve their needs or solve their problems; this points to self-sufficiency.
- Full Text:
Macroeconomic theory after the great recession of 2008: the need for a market process approach
- Authors: Le Roux, Pierre
- Subjects: Recessions , Macroeconomics , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/52919 , vital:44679
- Description: This paper sets out to reflect that contemporary schools of thought are unable to explain the great recession of 2008. The Great Recession 2007-2009 and the long, slow recovery from it serve as reminders of the difficulty of explaining business cycles. Macroeconomists of all varieties have been humbled by these events and by our inability to predict or to design policies that moderate the effects. Paul Krugman (2009) and John Cochrane (2010) are examples of how two schools of thought have struggled with the issue. Many theories of business cycles exist, without any being comprehensive; none are able to account for all important characteristics. Macroeconomic theory continues to explore stylised facts for explanatory power. The whole sub-discipline of “macroeconomics” is premised on the belief that the standard microeconomic tools are not of much use in understanding the dynamics of growth and business cycles. Even with the rational expectations revolution purporting to set macroeconomics back on microfoundations, the language of aggregate supply and demand, over-simplified versions of the Quantity Theory of Money, and the aggregative analytics of the Keynesian cross and simple models of functional finance still fill the textbooks and inform most policy debates. The neglect of capital theory in particular has removed the important elements of time and money from Macroeconomics. The main approaches to Macroeconomics are compared and their lack of a firm micro foundation exposed. The dissatisfaction with macroeconomics can be resolved by taking a more capitalbased approach. This will allow for macro elements such as time and money while reintroducing the entrepreneur into macroeconomic theory. Relative prices, especially intertemporal prices can then again take their rightful place in explaining the business cycle.
- Full Text:
- Authors: Le Roux, Pierre
- Subjects: Recessions , Macroeconomics , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/52919 , vital:44679
- Description: This paper sets out to reflect that contemporary schools of thought are unable to explain the great recession of 2008. The Great Recession 2007-2009 and the long, slow recovery from it serve as reminders of the difficulty of explaining business cycles. Macroeconomists of all varieties have been humbled by these events and by our inability to predict or to design policies that moderate the effects. Paul Krugman (2009) and John Cochrane (2010) are examples of how two schools of thought have struggled with the issue. Many theories of business cycles exist, without any being comprehensive; none are able to account for all important characteristics. Macroeconomic theory continues to explore stylised facts for explanatory power. The whole sub-discipline of “macroeconomics” is premised on the belief that the standard microeconomic tools are not of much use in understanding the dynamics of growth and business cycles. Even with the rational expectations revolution purporting to set macroeconomics back on microfoundations, the language of aggregate supply and demand, over-simplified versions of the Quantity Theory of Money, and the aggregative analytics of the Keynesian cross and simple models of functional finance still fill the textbooks and inform most policy debates. The neglect of capital theory in particular has removed the important elements of time and money from Macroeconomics. The main approaches to Macroeconomics are compared and their lack of a firm micro foundation exposed. The dissatisfaction with macroeconomics can be resolved by taking a more capitalbased approach. This will allow for macro elements such as time and money while reintroducing the entrepreneur into macroeconomic theory. Relative prices, especially intertemporal prices can then again take their rightful place in explaining the business cycle.
- Full Text:
Perspectives on leadership
- Authors: Arnolds, Cecil Ashleigh
- Subjects: Leadership , Industrial management , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21857 , vital:29794
- Description: My fields of study are business management and organizational behaviour (OB). In business management we study how to manage businesses effectively by executing various functions (marketing, finance, human resources management, general and strategic management, purchasing and logistics, public relations management, production and opertaions, information technology management) and management tasks (planning, organising, leading and control) (Bosch, Tait and Venter, 2006).
- Full Text: false
- Authors: Arnolds, Cecil Ashleigh
- Subjects: Leadership , Industrial management , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21857 , vital:29794
- Description: My fields of study are business management and organizational behaviour (OB). In business management we study how to manage businesses effectively by executing various functions (marketing, finance, human resources management, general and strategic management, purchasing and logistics, public relations management, production and opertaions, information technology management) and management tasks (planning, organising, leading and control) (Bosch, Tait and Venter, 2006).
- Full Text: false
Psychobiographical perspectives on the development and manifestation of extraordinary human achievements
- Authors: Van Niekerk, Roelf
- Subjects: Psychology -- Biographical methods , Social psychology , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/53211 , vital:45050
- Description: Psychobiographical research has several characteristic features. Firstly, it is an interdisciplinary approach that uses contributions and perspectives from several scientific disciplines (for example, business science, economics, psychology, political science) and the humanities (for example, history, philosophy, sociology, and religion/spirituality). Secondly, it typically approaches life stories from a longitudinal perspective. Thirdly, psychobiographical research comprises in-depth studies of extraordinary individuals in the contexts in which they made their contributions. Fourthly, psychobiographical research does not afford anonymity or 2 | P a g e confidentiality to participants. Instead, it requires that profiled leaders be identified by name. Fifthly, psychobiographical profiling employs indirect methods to analyse the development or characteristics of individuals. Usually, extensive use is made of biographical material available in the public domain and originally compiled by biographers, journalists, or researchers. This material is not collected primarily to solve a scientific problem, but rather to answer questions and describe phenomena that are inherently important, particularly from psychological and historical perspectives. Lastly, psychobiographical research often focuses on completed lives (Van Niekerk, 2007).
- Full Text:
- Authors: Van Niekerk, Roelf
- Subjects: Psychology -- Biographical methods , Social psychology , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/53211 , vital:45050
- Description: Psychobiographical research has several characteristic features. Firstly, it is an interdisciplinary approach that uses contributions and perspectives from several scientific disciplines (for example, business science, economics, psychology, political science) and the humanities (for example, history, philosophy, sociology, and religion/spirituality). Secondly, it typically approaches life stories from a longitudinal perspective. Thirdly, psychobiographical research comprises in-depth studies of extraordinary individuals in the contexts in which they made their contributions. Fourthly, psychobiographical research does not afford anonymity or 2 | P a g e confidentiality to participants. Instead, it requires that profiled leaders be identified by name. Fifthly, psychobiographical profiling employs indirect methods to analyse the development or characteristics of individuals. Usually, extensive use is made of biographical material available in the public domain and originally compiled by biographers, journalists, or researchers. This material is not collected primarily to solve a scientific problem, but rather to answer questions and describe phenomena that are inherently important, particularly from psychological and historical perspectives. Lastly, psychobiographical research often focuses on completed lives (Van Niekerk, 2007).
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Relationship marketing in retail banks: superannuated concept?
- Authors: Tait, Madele
- Subjects: Relationship marketing , Banks and banking , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20923 , vital:29418
- Description: All business is based on relationships. The firm only has to make them meaningful for its customers – provided that the customers want this (Grönroos 1994). Relationship marketing concerns the facilitation and managing of the relationships between the business and its customers and was developed as a response to the realisation that businesses were spending vast resources in time and money to attract new customers but very little on retaining existing ones. Relationship marketing is particularly relevant when a customer has alternative service providers to choose from, when the customer makes the selection decision and when there is an ongoing desire or need for a product or service, such as in the banking industry (Morgan & Hunt 1999).
- Full Text:
- Authors: Tait, Madele
- Subjects: Relationship marketing , Banks and banking , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20923 , vital:29418
- Description: All business is based on relationships. The firm only has to make them meaningful for its customers – provided that the customers want this (Grönroos 1994). Relationship marketing concerns the facilitation and managing of the relationships between the business and its customers and was developed as a response to the realisation that businesses were spending vast resources in time and money to attract new customers but very little on retaining existing ones. Relationship marketing is particularly relevant when a customer has alternative service providers to choose from, when the customer makes the selection decision and when there is an ongoing desire or need for a product or service, such as in the banking industry (Morgan & Hunt 1999).
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Research in financial services: professing a way forward
- Authors: Rootman, Chantal
- Subjects: Financial services industry -- South Africa , Financial services industry -- Customer services -- South Africa , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21066 , vital:29435
- Description: Outline: What do we know about financial services research? What is the current state of financial services in South Africa? Professing the way forward for financial services research.
- Full Text:
- Authors: Rootman, Chantal
- Subjects: Financial services industry -- South Africa , Financial services industry -- Customer services -- South Africa , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21066 , vital:29435
- Description: Outline: What do we know about financial services research? What is the current state of financial services in South Africa? Professing the way forward for financial services research.
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Structure and agency in the age of climate change
- Authors: Cherry, Janet
- Subjects: South Africa -- Economic conditions , South Africa -- Social conditions , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21033 , vital:29429
- Description: What I will present here is based on my grappling over the past three decades with one of the central problems of social science – the relationship between social structure and human agency. This is not a new problem for social scientists; from Karl Marx, who understood that human beings make history, but not in circumstances of their choosing; to the French structuralists who conceived the term ‘relative autonomy’ and ‘overdetermination’; to Anthony Giddens’ ‘structuration theory’ and other contemporary sociologists. What is new are the changing physical circumstances of the world in which we live, which mean that human society can no longer afford to analyse ourselves and our social, political and economic systems independently of the natural world.
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- Authors: Cherry, Janet
- Subjects: South Africa -- Economic conditions , South Africa -- Social conditions , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21033 , vital:29429
- Description: What I will present here is based on my grappling over the past three decades with one of the central problems of social science – the relationship between social structure and human agency. This is not a new problem for social scientists; from Karl Marx, who understood that human beings make history, but not in circumstances of their choosing; to the French structuralists who conceived the term ‘relative autonomy’ and ‘overdetermination’; to Anthony Giddens’ ‘structuration theory’ and other contemporary sociologists. What is new are the changing physical circumstances of the world in which we live, which mean that human society can no longer afford to analyse ourselves and our social, political and economic systems independently of the natural world.
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The Entrepreneur as a disequilibrating factor in economic process
- Authors: Ncwadi, Mcebisi Ronney
- Subjects: Entrepreneurship , Equilibrium (Economics) , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/55844 , vital:54275
- Description: The evidence of entrepreneurship's significant contribution to economic growth and development, challenges the dominance of general equilibrium theory in microeconomics. The assumptions of the neoclassical economic model which underlies general equilibrium theory has long time been criticised; yet its consideration in policy formulation has not been dismissed despite the fact that general equilibrium theory does not incorporate entrepreneurship. The assumptions embedded in neoclassical economic theory exclude entrepreneurship as an economic variable. However, as microeconomic research finds more and more evidence confirming the importance of new business formation and growth, general equilibrium theory remains incapable of adapting to this reality. To this end general equilibrium theory produces policy prescriptions which favour mainly large, established firms over new, small firms. It is therefore no wonder that a large number of small businesses in South Africa are failing. This lecture presents the theory of the firm and also defines an entrepreneur within the context of the theory of the firm. In doing so, this lecture exposes the shortcomings of the general equilibrium theory which is used to explain entrepreneurship. Based on Schumpeter’s description of an entrepreneur, namely, a Disequilibrating factor of economic processes; this lecture demonstrates how entrepreneurship should be understood and developed within a broader scope of microeconomics discourse.
- Full Text:
- Authors: Ncwadi, Mcebisi Ronney
- Subjects: Entrepreneurship , Equilibrium (Economics) , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/55844 , vital:54275
- Description: The evidence of entrepreneurship's significant contribution to economic growth and development, challenges the dominance of general equilibrium theory in microeconomics. The assumptions of the neoclassical economic model which underlies general equilibrium theory has long time been criticised; yet its consideration in policy formulation has not been dismissed despite the fact that general equilibrium theory does not incorporate entrepreneurship. The assumptions embedded in neoclassical economic theory exclude entrepreneurship as an economic variable. However, as microeconomic research finds more and more evidence confirming the importance of new business formation and growth, general equilibrium theory remains incapable of adapting to this reality. To this end general equilibrium theory produces policy prescriptions which favour mainly large, established firms over new, small firms. It is therefore no wonder that a large number of small businesses in South Africa are failing. This lecture presents the theory of the firm and also defines an entrepreneur within the context of the theory of the firm. In doing so, this lecture exposes the shortcomings of the general equilibrium theory which is used to explain entrepreneurship. Based on Schumpeter’s description of an entrepreneur, namely, a Disequilibrating factor of economic processes; this lecture demonstrates how entrepreneurship should be understood and developed within a broader scope of microeconomics discourse.
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The reward preference/motivation paradox and implications for performance and education
- Authors: Snelgar, Robin
- Subjects: Employee motivation , Incentive (Psychology) , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21897 , vital:29799
- Description: The focus on reward preference has emerged essentially as a result of the need to identify what really motivates productive behaviour within the workplace, despite the fact that other variables such as retention and attraction have also been taken into consideratin. Motivation has always been an issue of great interest to both reserachers as well as practitioners within the organizational setting, the intention being to find ways to improve performance and, more specifically, particular types of performance within the world of work. Ultimately, the issue has always been how to understand, predict, shape and control human behaviour.
- Full Text: false
- Authors: Snelgar, Robin
- Subjects: Employee motivation , Incentive (Psychology) , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/21897 , vital:29799
- Description: The focus on reward preference has emerged essentially as a result of the need to identify what really motivates productive behaviour within the workplace, despite the fact that other variables such as retention and attraction have also been taken into consideratin. Motivation has always been an issue of great interest to both reserachers as well as practitioners within the organizational setting, the intention being to find ways to improve performance and, more specifically, particular types of performance within the world of work. Ultimately, the issue has always been how to understand, predict, shape and control human behaviour.
- Full Text: false
Water under troubled bridge: the (ir)relevance of Development Studies pedagogies in African universities
- Authors: Makuwira, Jonathan
- Subjects: Development economics , Universities and colleges -- Africa -- Curricula , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20375 , vital:29271
- Description: The demand for “methodologies of education and learning” is very significant in the current FeesMustFall discourse. This is not just because it is necessary to consider education methodologies, but in the broader scheme of things, it is also a call to both mental and ideological transformation. It challenges university lecturers and educators alike to question their own preconceived pedagogies and engage in an introspection - a 2 reflective moment in their teaching. I will come back to this later in my presentation. The point I am trying to emphasis is that the call for “The-Fall-in-Fees” is a development issue. It is a development issue because it gravitates around access to [Higher] education. We just need to remind ourselves by what Nelson Mandela once said: “Education is the most powerful weapon which you can use to change the world”. We all know-education is a fundamental human right; so too is development (United Nations, 1986). The denial to education is an act of injustice. But like Martin Luther King Jr. said: “Injustice anywhere is a threat to justice everywhere” (Luther King Jr, 1963). In this regard, there is a lot of development injustice to which my lecture this evening alludes to.
- Full Text:
- Authors: Makuwira, Jonathan
- Subjects: Development economics , Universities and colleges -- Africa -- Curricula , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20375 , vital:29271
- Description: The demand for “methodologies of education and learning” is very significant in the current FeesMustFall discourse. This is not just because it is necessary to consider education methodologies, but in the broader scheme of things, it is also a call to both mental and ideological transformation. It challenges university lecturers and educators alike to question their own preconceived pedagogies and engage in an introspection - a 2 reflective moment in their teaching. I will come back to this later in my presentation. The point I am trying to emphasis is that the call for “The-Fall-in-Fees” is a development issue. It is a development issue because it gravitates around access to [Higher] education. We just need to remind ourselves by what Nelson Mandela once said: “Education is the most powerful weapon which you can use to change the world”. We all know-education is a fundamental human right; so too is development (United Nations, 1986). The denial to education is an act of injustice. But like Martin Luther King Jr. said: “Injustice anywhere is a threat to justice everywhere” (Luther King Jr, 1963). In this regard, there is a lot of development injustice to which my lecture this evening alludes to.
- Full Text:
What is the future of financial inclusion?
- Authors: Mago, Stephen
- Subjects: Financial services industry -- Africa , Banks and banking -- Africa , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/56481 , vital:56688
- Description: The purpose of this lecture is to explicate the future of financial inclusion with a focus on Africa. Understanding financial inclusion, its advantages, and its trajectory into the future sets a scene for future research and debates. Materials and methods: In preparing this lecture, I used systematic literature and bibliometric analysis complemented with field research done in two selected areas (Masvingo district in Zimbabwe and the Kirkwood area in the Eastern Cape, South Africa). Results/Findings: Results show that financial inclusion benefits poverty alleviation, job/employment creation, small business growth (through innovation and creativity), sustainability, closing inequality gaps, inclusive economic growth and development (local, national, regional, and global), closing gender gaps, and the promotion of digital finance. In other words, it creates opportunities for individuals, businesses, and economies in various ways. It also contributes to the attainment of sustainable development goals (SDGs). Globally, stakeholders such as governments, supranational organisations (the UN, the WB, the IMF, the G20) and development banks are working together to achieve financial inclusion. Alleviation or elimination of financial exclusion (FE) is the ultimate. Social implications: Financial inclusion promotes socio-economic transformation and livelihood enhancement. The unbanked, or the financially excluded, and the underbanked benefit from financial inclusion, thus allowing them access to financial services. Conclusions and recommendations: Extant literature and empirical research demonstrate the immense contribution of financial inclusion. It helps to defy the triple challenges of poverty, unemployment, and inequality. This lecture therefore recommends deliberate policy intentions by governments in developing countries to support financial inclusion to benefit the marginalised and promote the attainment of Sustainable Development Goals(SDGs). There is a need to digitise the financial systems for inclusivity. I argue that the future of financial inclusion is achieved not only by technology, but also by acceptance, behaviour, and collaboration/synergy, built around strong ecosystems. An underlying thesis is that financial inclusion benefits economies in many ways.
- Full Text:
- Authors: Mago, Stephen
- Subjects: Financial services industry -- Africa , Banks and banking -- Africa , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/56481 , vital:56688
- Description: The purpose of this lecture is to explicate the future of financial inclusion with a focus on Africa. Understanding financial inclusion, its advantages, and its trajectory into the future sets a scene for future research and debates. Materials and methods: In preparing this lecture, I used systematic literature and bibliometric analysis complemented with field research done in two selected areas (Masvingo district in Zimbabwe and the Kirkwood area in the Eastern Cape, South Africa). Results/Findings: Results show that financial inclusion benefits poverty alleviation, job/employment creation, small business growth (through innovation and creativity), sustainability, closing inequality gaps, inclusive economic growth and development (local, national, regional, and global), closing gender gaps, and the promotion of digital finance. In other words, it creates opportunities for individuals, businesses, and economies in various ways. It also contributes to the attainment of sustainable development goals (SDGs). Globally, stakeholders such as governments, supranational organisations (the UN, the WB, the IMF, the G20) and development banks are working together to achieve financial inclusion. Alleviation or elimination of financial exclusion (FE) is the ultimate. Social implications: Financial inclusion promotes socio-economic transformation and livelihood enhancement. The unbanked, or the financially excluded, and the underbanked benefit from financial inclusion, thus allowing them access to financial services. Conclusions and recommendations: Extant literature and empirical research demonstrate the immense contribution of financial inclusion. It helps to defy the triple challenges of poverty, unemployment, and inequality. This lecture therefore recommends deliberate policy intentions by governments in developing countries to support financial inclusion to benefit the marginalised and promote the attainment of Sustainable Development Goals(SDGs). There is a need to digitise the financial systems for inclusivity. I argue that the future of financial inclusion is achieved not only by technology, but also by acceptance, behaviour, and collaboration/synergy, built around strong ecosystems. An underlying thesis is that financial inclusion benefits economies in many ways.
- Full Text:
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