Thesis (PhD (Business Management))--University of Stellenbosch, 2010. / ENGLISH ABSTRACT: The South African tourism industry has undergone transformation with numerous “windows of opportunity” having been opened for tourism entrepreneurs. The South African small, micro and medium tourism enterprises (SMMTE) sector, however, faces numerous challenges. To ensure long-term sustainability, according to Whittle (2000: 8), the owners of SMMTEs need to make efficient and effective business decisions about the internal and external threats and challenges their businesses face. This will ensure that they have sufficient strategic information on which to base decisions in order to maintain their competitive advantage in the tourism industry. Motivation/problem statement: Small business planning behaviour is described as unstructured, irregular and incomprehensive. This characterises SMMTE strategising as incremental, sporadic and reactive. A clear need for strategic planning and management coordination of SMMTEs is identified in the light of increasing competition in the tourism industry and the dominance of large international companies in most sectors of the tourism industry (Cooper & Buhalis, 1996: 101). This study examines determinants of strategic behaviour through a sample frame of formally registered SMMTEs in South Africa. Because of the importance of the issue for a developing economy such as South Africa, the study contributes toward an improved understanding of strategic determinants of sustainable business performance at SMMTE level. It is against this background that the study examines the extent to which linkages or relationships can be established between the characteristics or attributes that are unique to SMMTE owners and manifestations of strategic behaviour. The overall research question in this study is: Do relationships exist between the attributes of SMMTE owners and strategic behaviour? Methods/procedure/approach: The research design for the proposed study primarily involves descriptive and explanatory research. The purpose of using this methodology is to determine predictors of strategic behaviour of SMMTEs in South Africa. Primary and secondary data gathering methods are used in this study. The target-sampling frame is the formally registered SMMTEs in South Africa, and the research sample is determined through using a systematic random sampling method, stratified by province. The study focuses on two elements, namely profile attributes of the SMMTE owner and preferred strategic behaviour that has manifested within the SMMTE. The possible preferred relationship between these two elements is addressed from a theoretical perspective with the basic premise that some of the manifestations of the SMMTE owners’ strategic behaviour have a better likelihood of success. On the basis of this conceptual framework, the development of a suitable data-gathering instrument is discussed and developed to determine the degree of SMMTE strategic behaviour in the ventures. Results/findings/product: The descriptive statistical aspect of the research is discussed in detail. The business characteristics, profiles of the typical attributes or traits of the SMMTE owners, as well as their demographic profiles are discussed in detail. This study further investigates a possible relationship between strategic behaviour (the dependent variable) and entrepreneurial attributes (independent variables) using inferential statistics. The relationships and constructs, as depicted in the a priori model, are empirically tested by means of various statistical techniques: • Reliability testing of the data set is conducted (ref. Section 7.5); • The validity of the research instrument is determined (ref. Section 7.6); • The reliability of the new constructs after exploratory factor analysis is determined (ref. Section 7.6.2); • The relationships between the selected variables are investigated through Spearman’s rho and ANOVA (ref. Section 7.7); and • The relationships between the selected variables of the hypothesis are further investigated (ref. Section 7.7.2) through regression analysis. The research results support an overall statistically significant association between the independent and dependent variables, and the acceptance of the alternative hypothesis (and the rejection of the null hypothesis), namely that there is an association between certain attributes of the owners of the SMMTEs (which is characterised by locus of control, reasons for starting a business, holistic capabilities, formal management education and prior experience) and preferred strategic behaviour. However, the research findings do not support an overall statistically significant association between the risk propensity independent variable and strategic behaviour dependent variables. Consequently the following null sub-hypothesis (ref. Section 7.2.2) is accepted: There is no relationship between risk propensity and strategic behaviour. Conclusion/implications: The study makes various recommendations for further research (ref. Section 8.5.1) and explains the practical implications (ref. Section 8.5.2) thereof. The findings of this study have identified entrepreneurial attributes that have a significant association with strategic behaviour and have made a contribution toward the largely underresearched subject of the role of strategy in entrepreneurship. The study has further applied this to a largely under-researched economic sector in South Africa, namely tourism. The results in this study have produced a foundation for further analysis of the attributes of SMMTE entrepreneurs and the manifestation of strategic behaviour in SMMTEs. / AFRIKAANSE OPSOMMING: Die Suid-Afrikaanse toerismebedryf is getransformeer en dit het talle geleenthede vir toerisme-entrepreneurs in dié bedryf laat ontstaan. Die sektor vir klein, mikro- en middelgrootte toerismeondernemings (KMMTO’s) in Suid-Afrika staan egter voor talle uitdagings. Om volhoubaarheid op lang termyn te verseker, moet die eienaars van KMMTO’s volgens Whittle (2000: 8) doeltreffende en doelmatige sakebesluite neem oor die interne en eksterne bedreigings en uitdagings waarvoor hul ondernemings te staan kom. Dit sal verseker dat hulle oor voldoende strategiese inligting beskik waarop hulle besluite kan grond sodat hulle 'n mededingende voordeel in die toerismebedryf kan volhou. Motivering/probleemstelling: Die beplanningsgedrag van klein ondernemings word as ongestruktureerd, onreëlmatig en onvolledig beskryf. Dit tipeer die strategiese beplanning van KMMTO’s as inkrementeel, sporadies en reaktief. 'n Duidelike behoefte aan strategiese beplanning en bestuurskoördinering word by KMMTO’s geïdentifiseer in die lig van groter mededinging in die toerismebedryf en die oorheersing van groot internasionale maatskappye in die meeste sektore van die toerismebedryf (Cooper & Buhalis, 1996: 101). Hierdie studie ondersoek die bepalers van strategiese gedrag deur middel van 'n steekproefraamwerk van formeel geregistreerde KMMTO’s in Suid-Afrika. Omdat hierdie kwessie vir 'n ontwikkelende ekonomie soos dié van Suid-Afrika belangrik is, dra die studie by tot 'n beter begrip van die strategiese bepalers van volhoubare sakeprestasie op KMMTO-vlak. Dit is die agtergrond wat die studie gebruik om vas te stel tot watter mate daar verwantskappe of verhoudings bestaan tussen die kenmerke of eienskappe wat uniek aan KMMTO-eienaars is en die manifestering van strategiese gedrag. Die oorkoepelende navorsingsvraag in hierdie studie is: Bestaan daar verwantskappe tussen die kenmerke van KMMTO-eienaars en strategiese gedrag? Metodes/prosedure/benadering: Die navorsingsontwerp vir die voorgestelde studie behels hoofsaaklik beskrywende en verduidelikende navorsing. Die doel van die gebruik van hierdie metodologie is om die voorspellers van strategiese gedrag van KMMTO’s in Suid-Afrika te bepaal. Primêre en sekondêre metodes van datainsameling is in die studie gebruik. Die steekproefraamwerk bestaan uit formeel geregistreerde KMMTO’s in Suid- Afrika en die navorsingsteekproef is bepaal deur 'n sistematies ewekansige steekproefmetode te gebruik wat volgens provinsie gestratifiseer is. Die studie lê klem op twee elemente, naamlik die profielkenmerke van KMMTO-eienaars en die voorkeur strategiese gedrag wat in die KMMTO manifesteer. Die moontlike voorkeurverhouding tussen hierdie twee elemente word vanuit 'n teoretiese perspektief beskou met die basiese uitgangspunt dat sommige manifestasies van die KMMTO-eienaars se strategiese gedrag 'n beter kans op sukses het. Die ontwikkeling van 'n toepaslike datainsamelingsinstrument word op grond van hierdie konseptuele raamwerk bespreek en ontwikkel om die graad van strategiese gedrag in die ondernemings te bepaal. Resultate/bevindings/produk: Die beskrywende statistiese aspek van die navorsing word breedvoerig bespreek. Die besigheidskenmerke, profiele van die tipiese kenmerke of eienskappe van die KMMTO-eienaars sowel as die demografiese profiele van die KMMTO eienaars word ook breedvoerig bespreek. Hierdie studie ondersoek ook 'n moontlike verwantskap tussen strategiese gedrag (die afhanklike veranderlike) en entrepreneurskenmerke (onafhanklike veranderlikes) met behulp van inferensiële statistiek. Die verhoudings en konstrukte, soos in die a priori-model uitgebeeld, word empiries deur middel van verskeie statistiese tegnieke getoets: • Betroubaarheidstoetsing van die datastel word uitgevoer (verw. Afdeling 7.5); • Die geldigheid van die navorsingsinstrument word bepaal (verw. Afdeling 7.6); • Die betroubaarheid van die nuwe konstrukte word ná verkennende faktorontleding bepaal (verw. Afdeling 7.6.2); • Die verhoudings tussen die geselekteerde veranderlikes van die hipotese word met Spearman se rho en ANOVA (verw. Afdeling 7.7) getoets; en • Die verhoudings tussen die geselekteerde veranderlikes van die hipotese word verder (verw. Afdeling 7.7.2) deur regressieontleding getoets. Die navorsingsresultate ondersteun 'n oorkoepelende en statisties beduidende verband tussen die onafhanklike en afhanklike veranderlikes, en die aanvaarding van die alternatiewe hipotese (en die verwerping van die nulhipotese), naamlik dat daar 'n verband is tussen sekere van die eienskappe van die KMMTO-eienaars (wat gekenmerk word deur lokus van beheer, redes vir die vestiging van 'n besigheid, konseptuele/perseptuele vermoëns, formele bestuursopleiding en vorige ondervinding) en voorkeur strategiese gedrag. Die navorsingsbevindinge ondersteun egter nie 'n oorkoepelende statisties beduidende verband tussen risikogeneigdheid as onafhanklike veranderlike en strategiese gedrag as afhanklike veranderlikes nie. Die volgende nulsubhipotese (verw. Afdeling 7.2.2) word dus aanvaar: Daar is geen verwantskap tussen risikogeneigdheid en strategiese gedrag nie. Gevolgtrekking/implikasies: Die studie maak verskeie aanbevelings vir verdere navorsing (verw. Afdeling 8.5.1) en verduidelik die praktiese implikasies hiervan (verw. Afdeling 8.5.2). Die bevindinge van hierdie studie identifiseer die entrepreneurskenmerke wat 'n beduidende verband met strategiese gedrag toon en wat 'n bydrae lewer tot die rol van strategie in entrepreneurskap – 'n onderwerp wat nie voldoende nagevors is nie. Die studie pas dit ook toe op toerisme – 'n ekonomiese sektor in Suid-Afrika wat ook nie voldoende nagevors is nie. Die resultate van hierdie studie vorm 'n grondslag vir die verdere ontleding van die eienskappe van KMMTO-entrepreneurs en die manifestering van strategiese gedrag in KMMTO’s.

Thesis (PhD (Business Management))--University of Stellenbosch, 2006. / ENGLISH ABSTRACT: This study investigates whether any exploitable pauems exist in a sample of ten African stock markets that could lead to abnonnal gains. Southern Africa is represented by Botswana, Namibia. Mauritius and Zimbabwe, East Africa by Kenya, West Africa by Ghana and the BRVM, and North Africa by Egypt, Morocco and Tunisia. Such evidence, if it exists, provides ground for refutation of the weak form of the efficient market hypothesis (EM H) as defined by Farna (1965. 1970). The thesis is predominantly empirical, but also provides an overview of African stock markets, the theoretical framework on which the study is based and the impact of the advancement in information technology on market efficiency. The results show that the distribution of stock returns on African stock markets is not normal, and that the deviation from normality is significantly pronounced with almost all the stocks rejecting nonnality using the Kolmogorov-Smimov test at the I % level of significance. The stock price behaviour of the abovementioned stock markets is investigated by testing the random walk hypothesis using the simple serial correlation and runs tests. The investigation is done using returns calculated on a trade-to-trade basis and adjusted for interval variability by weighting each trade-to-trade return by the number of days between trades. While the first part of this analysis only includes the markets on which dividend information could be obtained, the second part includes all the ten markets with returns referring to capital gains. However, it is shown that dividend information does not have a serious impact on the results. While the majority of stocks, especially those for Mauritius and Ghana, reject the random walk hypothesis, only Namibia, Kenya and Zimbabwe, can be said to be weak form efficient. While thin trading is known to cause econometric and statistical problems in empirical tests, thin trading has been taken as given in most studies. In this thesis, the seriousness of thin trading on African stock markets and its implications for efficiency testing is empirically investigated. A comparison of the random walk test results when returns are calculated normally and when the trade-to-trade approach and its variant, the adjusted trade-la-trade approach, are used is carried out. It is found that thin trading is indeed a severe problem on African markets and that there are some differences in the random walk results due to the different methods used to calculate returns. Investigating in-sample predictability using linear models appears to be the norm in most tests of the EMH. This thesis argues that the return-generating process may not be linear and if that is the case, the nonlinear models may outperform the linear models in out-of-sample forecasting. The random walk is considered a true description of stock price behaviour only if it is not outperformed by any of the alternative models in forecasting stock prices out-of-sample. This is empirically tested using the indices data of the African stock markets in the sample. It is found that alternative models, in most instances, outperform the random walk model in out-of-sample forecasting. The random walk results are substantiated by the results on seasonal patterns and other anomalies to the efficient market hypothesis such as the finn size and price earnings (PIE) effects. Size and PIE ratios have been identified as significant predictors of stock returns in other markets. In particular, it has been suggested that small-size firm portfolios outperform large-size finn portfolios and that low PIE firm portfolios outperform high PIE firm portfolios. The size and PIE effects found in this thesis are mostly exactly the opposite of those hypothesised in the literature. The existence of seasonal patterns contradicts the statement that stock prices behave in a random manner. This phenomenon is investigated on African stock markets using indices returns. The study benchmarks the findings with those of South Africa's Johannesburg Stock Exchange (JSE) Securities Exchange; other emerging markets, namely Brazil, Malaysia, Poland, Slovenia and Finland; and developed markets, such as the United States of America (U.S.), Australia and New Zealand. Seasonal effects are observed on some, but not all African stock markets and in most cases the patterns observed are different from those observed on stock markets elsewhere. / AFRIKAANSE OPSOMMING: Hierdie studie delf na of daar enige ontginbare patrone in 'n proefstuk van tien Afrika aandelemarkte bestaan, wat tot abnormale winste kan lei. Suider-Afrika word deur Botswana, Namibie, Mauritius en Zimbabwe verteenwoordig; Oos-Afrika deur Kenia, Wes-Afrika deur Ghana en die BRVM, en Noord-Afrika deur Egipte, Marokko en Tunisie. Indien sodanige bewyse bestaan, sou dit as grondslag dien vir weerlegging van die prestasie van die doeltreffende mark-hipotese (EMH) soos deur Fama (1965, 1970) gedefinieer. Die tesis is oorwegend empiries, maar bied ook 'n oorsig oor Afrika-aandelemarkte, die teoretiese raamwerk waarop die studie gebaseer is en die impak van die vordering in inligtingstegnologie op markdoeltreffendheid. Dit probeer vasstel of die verspreiding van winste op aandele met die van normaliteit konformeer. Die resultate toon dat die verspreiding van winste op aandele op aandelemarkte in Afrika nie normaal is nie en dat die afwyking van normaliteit aansienlik skerp is met byna al die aandelemarkte wat normaliteit verwerp wanneer die Kolmogorov-Smirnov-toets (teen die 1 %-vlak van beduidendheid) toegepas word. Die gedrag van aandelepryse van bovermelde aandelemarkte is ondersoek deur die ewekansige steekproef-hipotese te toets deur die eenvoudige reeks korrelasie en aanvraag-toetse toe te pas. Die ondersoek is gedoen deur opbrengste te gebruik wat op 'n handel-tot-handel-grondslag bereken is en vir interval wisseling aangepas is deur iedere handel-tot-handel-opbrengs teenoor die aantal dae tussen transaksies op te weeg. Terwyl die eerste deel van die ontleding net die markte insluit waarop inligting oor dividende verkry kon word, het die tweede deel al tien markte ingesluit met opbrengste wat na kapitale winste verwys. Daar word egter bewys dat inligting oor dividende nie 'n ernstige en waardige impak op die resultate het nie. Terwyl die meerderheid aandele, veral die vir Mauritius en Ghana, die ewekansige steekproef hipotese verwerp, kan daar aanvaar word dat net die in Namibie, Kenia en Zimbabwe swak-prestasie doelmatig is. Terwyl dit bekend is dat swak handel statistiese en ekonometriese probleme in empiriese toetse meebring, is swak handel as 'n gegewe in die meeste studies aangedui. In die tesis word die erns van swak handel op aandelemarkte in Afrika en die implikasies daarvan vir doeltreffende toetsing empiries ondersoek. 'n Vergelyking van die resultate vir (ewekansige steekproewe) word getref wanneer winste normaal bereken word en wanneer die handel-tot-handel-benadering en sy variant, die aangepaste handel-tot-handelsbenadering, toegepas word. Daar is bevind dat swak handel inderdaad 'n ernstige probleem op Afrika-markte is en dat daar sommige verskille in die ewekansige steekproef-resultate is as gevolg van die verskillende metodes wat ingespan word om die winste te bereken. Die gebruik van liniere modelle om ondersoek in te stel na die voorspelbaarheid van proefstukke blyk die norm in die meeste toetse van die doeltreffende mark-hipotesis te wees. Die tesis voer aan dat die wins-genererende proses nie noodwendig linier is nie, en indien dit die geval is, kan die nie-liniere modelle die liniere modelle in die proefstuk-voorspelling oortref. Die steekproef word as 'n betroubare beskrywing van die gedrag van aandelepryse beskou, maar net indien dit nie deur enige van die alternatiewe modelle in die voorspelling van aandelepryse in die proefstuk oortref word nie. Dit is empiries getoets deur die toepassing van die indeks-data van die Afrika-aandelemarkte in die proefstuk. Die ewekansige steekproef-resultate word deur die resultate van seisoenale patrone en ander afwykings van die doeltreffende mark- hipotesis gestaaf, soos die grootte van die onderneming en die invloede van prys inkomste. Grootte en prysinkomsteverhoudings is as betekenisvolle voorspellers van aandele-winste op ander markte geidentifiseer. Daar is spesifiek aangedui dat die portfolios van klein maatskappye die van groter maatskappye oortref en dat die portfolios van lae prys inkomstemaatskappye die van hoe prysinkomste oortref. Die grootte en invloede van prysinkomste wat in die tesis bepaal is, is hoofsaaklik presies die teenoorgestelde van die waaroor in die literatuur 'n hipotese oor opgestel is. Die bestaan van seisoenale patrone weerspreek die stelling dat aandelepryse hulle op 'n lukrake wyse voordoen. Die verskynsel is op Afrika-aandelemarkte ondersoek deur indeks-opbrengste te gebruik. Hierdie studie meet die bevindinge aan die hand van Suid-Afrika se Effekte Wisselkoerse op die Johannesburgse Aandelebeurs, ander opkomende markte soos Brasilie, Maleisie, Pole, Slovenie en Finland, en ontwikkelde markte soos die van die VSA, Australie en Nieu-Seeland. Seisoenale invloede word op sommige waargeneem, maar nie op alle aandelemarkte in Afrika nie - in die meeste gevalle verskil die patrone wat waargeneem is van die op aandelemarkte elders.

Thesis (PhD)--Stellenbosch University, 2013. / A persistent problem for hedge fund researchers presents itself in the form of inconsistent and diverse style classifications within and across database providers. For this paper, single-manager hedge funds from the Hedge Fund Research (HFR) and Hedgefund.Net (HFN) databases were classified on the basis of a common factor, extracted using the factor axis methodology. It was assumed that the returns of all sample hedge funds are attributable to a common factor that is shared across hedge funds within one classification, and a specific factor that is unique to a particular hedge fund. In contrast to earlier research and the application of principal component analysis, factor axis has sought to determine how much of the covariance in the dataset is due to common factors (communality). Factor axis largely ignores the diagonal elements of the covariance matrix and orthogonal factor rotation maximises the covariance between hedge fund return series. In an iterative framework, common factors were extracted until all return series were described by one common and one specific factor. Prior to factor extraction, the series was tested for autoregressive moving-average processes and the residuals of such models were used in further analysis to improve upon squared correlations as initial factor estimates. The methodology was applied to 120 ten-year rolling estimation windows in the July 1990 to June 2010 timeframe. The results indicate that the number of distinct style classifications is reduced in comparison to the arbitrary self-selected classifications of the databases. Single manager hedge funds were grouped in portfolios on the basis of the common factor they share. In contrast to other classification methodologies, these common factor portfolios (CFPs) assume that some unspecified individual component of the hedge fund constituents’ returns is diversified away and that single manager hedge funds should be classified according to their common return components. From the CFPs of single manager hedge funds, pure style indices were created to be entered in a multivariate autoregressive framework. For each style index, a Vector Error Correction model (VECM) was estimated to determine the short-term as well as co-integrating relationship of the hedge fund series with the index level series of a stock, bond and commodity proxy. It was postulated that a) in a well-diversified portfolio, the current level of the hedge fund index is independent of the lagged observations from the other asset indices; and b) if the assumptions of the Efficient Market Hypothesis (EMH) hold, it is expected that the predictive power of the model will be low. The analysis was conducted for the July 2000 - June 2010 period. Impulse response tests and variance decomposition revealed that changes in hedge fund index levels are partially induced by changes in the stock, bond and currency markets. Investors are therefore cautioned not to overemphasise the diversification benefits of hedge fund investments. Commodity trading advisors (CTAs) / managed futures, on the other hand, deliver diversification benefits when integrated with an existing portfolio. The results indicated that single manager hedge funds can be reliably classified using the principal factor axis methodology. Continuously re-balanced pure style index representations of these classifications could be used in further analysis. Extensive multivariate analysis revealed that CTAs and macro hedge funds offer superior diversification benefits in the context of existing portfolios. The empirical results are of interest not only to academic researchers, but also practitioners seeking to replicate the methodologies presented.

Thesis (PhD)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: The link between a favourable corporate reputation and business benefits is well established. Most executives recognise the importance of a favourable corporate reputation in building a competitive advantage for their organisations. However, the measuring of a corporate reputation, particularly in the service industry, has remained problematic. This study addresses this lingering gap in the literature and focuses on the development of an instrument to measure the client-based corporate reputation of organisations functioning in the service industry. This includes the identification of the factors (dimensions) that clients of large service organisations consider when they evaluate the reputations of organisations. Large organisations functioning in two sectors, the banking sector and the airline sector, were selected as the focus in this study. Groundwork for the design of a reputation-measuring instrument included the clarification of key terms (e.g. corporate identity, corporate image, corporate brand and corporate reputation). It also included a review of corporate reputation from various perspectives (e.g. organisational studies, economics, strategy and corporate communication). It also included discussions on scale development and the various approaches to the conceptualisation and operationalisation of corporate reputation. This study followed mainly a positivistic paradigm, involving quantitative methods. However, two qualitative methods were also used: a focus group discussion to identify patterns of thinking used by clients to assess corporate reputation and the expert-panel method to obtain the inputs of a panel of experts. Six large-scale surveys in three waves served as primary data sources. Large samples of the target population were used to obtain data that was statistically analysable. Secondary data sources included an extensive literature review. To develop the measurement scale, a series of steps was used to refine, purify and replicate the instrument. The process started with an exploratory factor analysis and concluded with an invariance analysis. The data was analysed during three waves of data collection. A variety of statistical techniques was used to assess the construct validity of the proposed instrument, including unidimensionality, convergent validity, reliability, discriminant validity, nomological validity, model fit and invariance. The outcome is a 19-item instrument using five dimensions to measure the client-based corporate reputation of large organisations in the service industry. These dimensions are Emotional appeal, Corporate performance, Social engagement, Good employer and Service points. This study contributes to the existing literature by the development of a valid and reliable instrument that can be used to measure a service organisation’s client-based corporate reputation before embarking on a reputation-enhancement programme. This study proposes that the measurement of an organisation’s client-based corporate reputation is a crucial starting point to assess the gap between where it is and where it wants to be in terms of its corporate reputation, and to manage its reputation accordingly. By using the proposed instrument, managers will be able to track their organisations’ corporate reputation over time, both overall and at the level of the five dimensions separately. / AFRIKAANSE OPSOMMING: Die verband tusssen ’n gunstige korporatiewe reputasie en die voordele daarvan vir organisasies is goed gevestig. Die meeste bestuurders erken ook die belangrikheid van korporatiewe reputasie in die bou van ’n mededingende voordeel vir hul organisasies. Die effektiewe meting van korporatiewe reputasie is egter, veral in die dienstebedryf, steeds problematies. Teen dié agtergrond was die fokus van die proefskrif op die ontwikkeling van ’n instrument om die kliëntgebaseerde korporatiewe reputasie van organisasies in die dienstebedryf te meet. Dit sluit in die identifisering van die faktore (dimensies) wat die kliënte van groot diensteorganisasies oorweeg wanneer hulle organisasies se reputasies evalueer. Groot organisasies wat in twee bedryfsektore werksaam is, naamlik die banksektor en die lugrederysektor, is geselekteer as die fokus van hierdie studie. Die grondslag vir die ontwerp van ’n reputasiemetingsinstrument het die verduideliking van sleutelterme (soos korporatiewe identiteit, korporatiewe beeld, korporatiewe handelsmerk en korporatiewe reputasie) ingesluit. Dit het ook die bestudering van korporatiewe reputasie uit verskillende perspektiewe (soos organisatoriese studies, die ekonomie, strategie en korporatiewe kommunikasie) behels. ’n Bespreking van skaalontwikkeling en die verskillende benaderings tot die konseptualisering en operasionalisering van korporatiewe reputasie het deel van hierdie aanvoorwerk gevorm. Hierdie studie het hoofsaaklik ’n positivistiese paradigma gevolg wat kwantitatiewe metodes ingesluit het. Twee kwalitatiewe metodes is egter ook gebruik: ’n fokusgroepbespreking om die denkpatrone te identifiseer wat kliënte gebruik om korporatiewe reputasie te evalueer en die ekspertpaneelmetode om die insette van ’n paneel kenners te bekom. Daarby het ses grootskaal-opnames in drie golwe as primêre databronne gedien. Groot steekproewe van die teikenpopulasie is gebruik om data te bekom wat statisties analiseerbaar was. Sekondêre databronne het ’n omvattende literatuurstudie ingesluit. Om die metingsinstrument te ontwikkel, is ’n reeks stappe gevolg om die instrument te verfyn, te suiwer en te repliseer. Die vertrekpunt was ’n verkennende faktoranalise en die proses is afgesluit met ’n analise van die invariansie. Die data is ontleed in drie datainsamelingsfases. ’n Verskeidenheid statistiese tegnieke – soos eendimensionaliteit, konvergerende geldigheid, betroubaarheid, diskriminante geldigheid, nomologiese geldigheid, modelpassing en invariansie – is toegepas om die konstrukgeldigheid van die voorgestelde instrument te evalueer. Die uitkoms is ’n 19-item-instrument wat vyf dimensies gebruik om die kliëntgebaseerde korporatiewe reputasie van groot organisasies in die dienstebedryf te meet. Hierdie dimensies is Emosionele aantrekkingskrag, Korporatiewe prestasie, Sosiale betrokkenheid, Goeie werkgewer en Dienspunte. Hierdie studie dra by tot die bestaande literatuur deur die ontwikkeling van ’n geldige en betroubare instrument wat gebruik kan word om ’n diensteorganisasie se kliëntgebaseerde korporatiewe reputasie te bepaal voordat ’n reputasieversterkingsprogram in werking gestel word. Die studie stel voor dat die meting van ’n organisasie se kliëntgebaseerde korporatiewe reputasie ’n uiters belangrike vertrekpunt vorm vir die assessering van die gaping tussen waar die organisasie hom tans bevind en waar hy wil wees, en om hierdie reputasie dienooreenkomstig te bestuur. Bestuurders sal met behulp van die voorgestelde instrument hul organisasies se korporatiewe reputasie oor tyd kan navolg – oorkoepelend, sowel as op die vlak van elke afsonderlike dimensie.

Thesis (M.Comm.)--Stellenbosch University, 2004. / ENGLISH ABSTRACT: Many fund managers who are supposed to have your best interest at heart have become just as greedy, have vested interests and their performance has been mediocre. Until they clean up their act, your best bet is to opt for an index fund, or the type that uses our money to track a stock market index, provided the initial and ongoing costs are low if you invest in shares. A great many funds have been run well and conscientiously. However, it’s often not clear to individuals which ones these are. In the absence of clarity, those index funds that are very low-cost are investorfriendly by definition and are the best selection for most of those who wish to own equities. Warren Buffet Throughout the past twenty years, investment funds have been transforming financial markets. There has been a tremendous growth in this industry and at the end of 2003 more than USD 13 trillion were invested in investment funds around the globe. In the United States, 12 percent of all money invested in mutual funds resides in index mutual funds and investors can choose from 149 index funds. Academics have researched mutual funds in depth and most are in favour of index-related funds. The reason for this is that the average US mutual fund that is actively managed does not manage to outperform its benchmark index. In South Africa, the scenario is very different. There are currently only nine index unit trusts with a net asset value of ZAR 1.4 billion. This represents only 60 basis points of all money invested in South African unit trusts. In this study, a few factors are discussed as possible contributors to this situation, with exchange-traded funds and enhanced index fund strategies identified as the most significant factors. This study investigates whether active unit trusts succeed in outperforming their benchmark index. It provides empirical research showing that All-Share Index have been a better risk-adjusted investment over the twenty years studied. This may be seen as a reason why investors prefer enhanced strategies since they provide a premium on the index’s return, and the risk and costs are lower than for active unit trusts. Exchange-traded funds have accumulated investments of close to ZAR 6 billion since the launch of the first Satrix fund, Satrix 40, in 2001. These funds aim at the same return as index unit trusts and have significant cost advantages over index unit trusts. / AFRIKAANSE OPSOMMING: Many fund managers who are supposed to have your best interest at heart have become just as greedy, have vested interests and their performance has been mediocre. Until they clean up their act, your best bet is to opt for an index fund, or the type that uses our money to track a stock market index, provided the initial and ongoing costs are low if you invest in shares. A great many funds have been run well and conscientiously. However, it’s often not clear to individuals which ones these are. In the absence of clarity, those index funds that are very low-cost are investorfriendly by definition and are the best selection for most of those who wish to own equities. Warren Buffet Beleggingsfondse het tot gevolg gehad dat daar ‘n drastiese verandering in finansiële markte oor die afgelope twintig jaar plaasgevind het. Daar was ‘n aansienlike groei in hierdie industrie en aan die einde van 2003 was daar wêreldwyd meer as USD 13 triljoen in beleggingsfondse belê. In die Verenigde State behoort 12 persent van alle geld wat in effektetrusts belê is aan indeksfondse en beleggers het 149 indeksfondse waaruit gekies kan word. Effektetrusts is al in diepte deur akademici bestudeer en die meeste is ten gunste van indeks-verwante fondse. Die rede hiervoor is dat die gemiddelde effektetrust in die Verenigde State nie dit reg kry om beter as sy indeks maatstaf te presteer nie. In Suid Afrika is die omstandighede heeltemal anders. Daar is huidiglik slegs nege indeksfondse met ‘n netto bate waarde van ZAR 1.4 biljoen. Dit verteenwoordig slegs 60 basis punte van al die geld wat in Suid Afrikaanse effektetrusts belê is. In hierdie studie word daar ‘n paar faktore bespreek wat moontlik bygedra het tot hierdie situasie. Beursverhandelde fondse en ”verbeterde” indeksfondse word geïdentifiseer as die twee vernaamste faktore. Hierdie studie kyk of aktiewe effektetrusts suksesvol was om beter te presteer as hulle maatstaf indeks. Empiriese navorsing word gegee wat wys dat die Algemene Indeks ‘n beter risiko-aangepaste belegging was oor die twintig jaar van die studie. Dit kan gesien word as ‘n rede hoekom beleggers “verbeterings” strategieë verkies wat ‘n premie bied op die indeks se prestasie en beide die risiko en koste is laer as met aktiewe fondse. Beursverhandelde fondse het beleggings ten bedrae van ZAR 6 biljoen opgebou sedert die begin van die eerste Satrix fonds, Satrix 40 in 2001. Hierdie fondse mik vir dieselfde opbrengs as indeks effektetrusts en het groot koste voordele bo indeksfondse.

Assignment (MComm)--University of Stellenbosch, 2006. / ENGLISH ABSTRACT: It has become evident that the knowledge-driven, innovation economy supercedes the industrial era at the beginning of the 21st century. Within this environment characterized by innovation and the emphasis on brand owning companies, successful organizations will be those that transform information into valuecreating knowledge and dynamically leverage the knowledge to innovate and capture additional customer value. In contrast to an emphasis on traditional tangible assets to explain organizational success, recent strategic management literature focuses on intangible resources, viz. intellectual capital. Knowledgeempowered customers are driving many innovations in this environment, and consequently, value innovation shifts relatively from the supply chain to the demand chain in business value systems, with focus on brand equity development. The encompassing challenge that companies face in this new environment is how to identify and leverage all sources of value. These important assets include, among other factors, brands and the knowledge residing within the consumers’ mind. Due to the significant shift towards knowledge-networking and outsourcing of many organizational activities, it is increasingly incumbent to incorporate and integrate knowledge residing outside the borders of an organization. However, the potential value of brand building efforts will not be realized unless proper knowledge management practices, systems, approaches and tools are put into place within the organization to capitalize on the concept of knowledge-enhanced brand equity. Accordingly, firms require a framework or model to illustrate the leveraging of knowledge for innovative brand development and management. This study provides an in-depth overview and synthesis of knowledge and brand management literature concerned with the symbiotic relationship between the utilization of knowledge and innovative brand development. A preliminary conceptual model to demonstrate the relationship between brand equity and knowledge-based is proposed. / AFRIKAANSE OPSOMMING: Die industriële era van die 20ste eeu is deur ‘n kennisgedrewe, innoverende ekonomie verbreed vanaf die begin van die 21ste eeu. Binne sodanige omgewing, wat gekenmerk word deur produk (waarde) innovasie en die opkoms van handelsmerk-gedrewe ondernemings, sal suksesvolle organisasies diegene wees wat inligting transformeer tot waardeskeppende kennis, en dié kennis as dinamiese hefboom gebruik om addisionele rykdom te skep en te behou. In teenstelling met die beklemtoning van tradisionele tasbare bates om organisasiesukses te verklaar, fokus onlangse strategiese bestuursliteratuur meer op ontasbare hulpbronne, naamlik kennis en intellektuele kapitaal. Ingeligde kliënte dryf innovasie en gevolglik skuif waarde innovasie relatief vanaf die aanbodsketting na die vraagketting in besigheidswaardesisteme, met die fokus op handelsmerksontwikkeling. Die uitdaging wat maatskappye in die gesig staar in hierdie nuwe omgewing is hoe om alle bronne van waarde te identifiseer en nie net die bates wat op die tradisionele balansstaat verskyn nie. Hierdie belangrike bates sluit onder andere in faktore soos handelsmerke en verbruikerspersepsies. Die organisasies wat suksesvol hierdie ontasbare bates skep en voorsien, en die hefboomwerking gebruik in die skepping van nuwe besigheidsmodelle, is dié organisasies wat die meeste waarde vir hulle aandeelhouers skep. Dit is toenemend noodsaaklik om kennis van buite die organisasie te inkorporeer en te integreer. Ondernemings benodig ‘n raamwerk of model om die voordelige gebruik van kennis vir innoverende handelmerkontwikkeling en –bestuur te fasiliteer. Hierdie studie voorsien ‘n in-diepte ontleding van kennisbestuurliteratuur en handelsmerkbestuurliteratuur, en dui veral op die verband en samehang tussen kennisbenutting en inoverende handelsmerkontwikkeling en –bestuur. ‘n Voorlopige konseptuele model om die verband tussen die handelsmerk- en kennisbestuur te illustreer, word voorgestel.

Thesis (MComm (Business Management))--University of Stellenbosch, 2009. / This study recognises that innovation and renewal is instrumental in gaining competitive advantage. However, large firms often face a renewal dilemma. Despite the fact that many firms recognise the need for innovation and renewal, they find it challenging to implement innovation. Thus, the need for renewal is complicated by finding a suitable business development tool to bring about the renewal needed. The problem is further aggravated by a fundamental managerial conflict of exploration and exploitation. This conflict causes a reluctance to engage in exploration activities (searching for new resources, knowledge, and competence), due to the operational focus of exploiting current resources, knowledge, and competence. To overcome the renewal dilemma, this study investigated the relationship and linkages between Internal Corporate Venturing (ICV) and corporate renewal to determine how Internal Corporate Venturing (ICV) can be used as a tool to initiate corporate renewal and overcome the renewal dilemma. The study made use of a qualitative, mixed-method methodology and investigated the research problem in two phases. The first phase of this study used Grounded Theory to propose a theoretical framework that illustrated how ICV provides a firm with a strategic process that effectively balances exploration and exploitation activities, providing the linking mechanisms needed between a firm’s corporate context and its external environment, enabling the firm to initiate corporate renewal. In the second stage of this study, the theory was assessed, by comparing the proposed theoretical framework to a case study involving an internal venturing programme at an established financial services firm in Southern Africa. Based on a comparison between the proposed theoretical framework and the case study, this thesis concludes that ICV could theoretically be used to address the renewal dilemma; however, it was not possible to confirm this proposition, due to the stage in which the corporate venturing programme the case examined found itself,. The case study did however suggest that ICV could enhance a firm’s ability to instigate corporate renewal, through its ability to create idiosyncratic endowments from a firm’s endowment base.

Thesis (MComm (Business Management))--Stellenbosch University, 2008. / This study aims to look at the definition of the group of alternative investments commonly known as ‘hedge funds’, in order to better understand why regulatory bodies the world over are vehemently working on introducing new legislation and guidelines as a means of maintaining market security and integrity in order to ensure adequate investor protection. This study posits that the two most viable options available to regulatory bodies to ensure effective implementation of these changes are (i) to either further restrict access to hedge funds and thereby curb their ‘retailization’ and/or (ii) to introduce rigorous levels of disclosure on the part of hedge funds and their intermediaries. It is the objective of this study to establish that for either of these options to be attained, tangible improvement in both the quantity and quality of information disclosure from hedge funds and their intermediaries about their positions, strategies and exposures in a manner that would enable them to continue to provide the market efficiency-enhancing services that they currently offer. After introducing all the key issues that have motivated this resolve, the study looks at the current regulatory environment and the challenges facing regulators such as the varying degrees of banking freedom offered by different states and jurisdictions. Proposed changes to current legislation are also considered across several jurisdictions. The results from the local market field study set the platform for recommendations to be investigated in future studies in order to provide guidelines for the supervision of the hedge fund industry.

Thesis (MEcon)--Stellenbosch University, 2004. / ENGLISH ABSTRACT: With heightening competitive pressures in the retailing environment, customer satisfaction and customer loyalty have become barometers of retailer performance. Determining the relationship of all the controllable elements that encourage or inhibit consumers during their contact with a retailer, defined as the Total Retail Experience (Berman and Evans, 1998: 19), with customer satisfaction and customer loyalty, formed the basis of this study. The dimensions ofTRE that were applied in this study were five controllable components, namely personal interaction, merchandise value, internal store environment, merchandise variety and complaint handling. The empirical study was applied specifically to a retailer dealing in health, home and beauty products. Data for this study was gathered via questionnaire from 34 000 of the most loyal card holders which participated in the loyalty program offered by the health, home and beauty retailer. The results of the data study indicated that the TRE instrument was a valid instrument to measure the success of providing a positive TRE for their consumers. Further, the instruments used to measure customer satisfaction and loyalty were deemed highly reliable. Of the five elements of TRE, enhancing the quality of personal interaction should be the primary focus in improving customer satisfaction, and it is significant that this retailer's management need only focus on improving these five dimensions of TRE to enhance customer satisfaction, given that almost three-quarters of customer satisfaction was accounted for by the five TRE dimensions. Results indicated that in contrast to customer satisfaction, customer loyalty was primarily driven by product related issues, with merchandise value being the strongest predictor of loyalty. Again, it was noted that more than half of the retailer's customer loyalty could be accounted for by the five TRE dimensions. Thus, efforts to improve any of the five TRE dimensions would enhance customer loyalty within this retailer's cardholder base. The varying importance of the specific TRE dimensions to both customer satisfaction and customer loyalty allow this retailer to identify the driving forces behind each of these concepts and allow for prioritizing strategies to optimize satisfaction and loyalty within their consumer base. By analyzing the responses of the individual items (questions) that measure each of the TRE dimensions as they appeared in the questionnaire, this study enables the retailer to focus on very specific aspects that influence each dimension of the TRE experience. Overall, it must be noted that respondents had positive experiences at the health, home and beauty retailer, which provides the retailer with a useful indicator of current satisfaction and loyalty levels and a point of comparison in determining the impact of the strategies employed to heighten satisfaction and loyalty. / AFRIKAANSE OPSOMMING: Toenemende druk van mededinging in die kleinhandelomgewing veroorsaak dat klientsatisfaksie en -lojaliteit barometers van kleinhandelprestasie word. Die basis van hierdie studie is daarin gelee om vas te stel wat is die verwantskap tussen al die beheerbare elemente wat verbruikers se gedrag tydens kontak met 'n kleinhandelaar aanmoedig of inhibeer, gedefinieer as die Totale Kleinhandelervaring (TKE) (Berman en Evans, 1998: 19), en klientsatisfaksie en -lojaliteit is. Die dimensies van TKE wat in hierdie studie toegepas is, is vyf beheerbare komponente, naamlik persoonlike interaksie, handelsware waarde, interne winkelomgewing, handelsware verskeidenheid en klagte hantering. Die empiriese studie is spesifiek toegepas op 'n kleinhandelaar wat handel dryf in gesondheid-, huis- en skoonheidsprodukte. Data vir die studie is ingesamel met behulp van 'n vraelys wat aan 34 000 van die mees lojale kaarthouers wat lid is van die lojaliteitsprogram van die gesondheid-, huis- en skoonheidsprodukte kleinhandelaar, gestuur is . Die resultate van die studie toon dat die TKE instrument 'n geldige instrument is om die sukses te meet indien 'n positiewe TKE vir kliente aangebied word. Voorts is ook bevind dat die instrumente wat gebruik is om satisfaksie en lojaliteit te meet, hoogs betroubaar is. Die verbetering van persoonlike interaksie tussen kliente en personeel blyk die primere fokus te wees indien klientsatisfaksie verbeter wil word. Die vyf dimensies van TKE is verantwoordelik vir byna driekwart van kliente se satisfaksie. Die kleinhandelaar se bestuur behoort dus slegs te fokus op die verbetering van die vyf dimensies van TKE. In kontras met satisfaksie, blyk lojaliteit primer veroorsaak te word deur produk verwante kwessies, met handelsware waarde as die sterkste voorspeller van lojaliteit. Meer as die helfte van die lojaliteit aan die kleinhandelaar word teweeggebring deur die vyf dimensies van TKE. Dus, pogings om enige van die vyf dimensies van TKE te verbeter, sal lei tot 'n verhoogde klientlojaliteit onder die kleinhandelaar se lojaliteit-kaarthouers. Die varierende belangrikheid van die verskillende TKE dimensies vir beide klientsatisfaksie en -lojaliteit stel die kleinhandelaar in staat om die dryfkragte agter elkeen van hierdie konsepte te identifiseer en maak die prioritisering van strategiee om satisfaksie en lojaliteit te maksimeer, moontlik. Die ontleding van die response op die individuele items (vrae) wat elkeen van die TKE dimensies meet soos wat dit in die vraelys voorkom, maak dit vir die kleinhandelaar moontlik om op spesifieke aspekte wat elke dimensie beinvloed, te fokus. Globaal gesien is bevind dat respondente positiewe ervarings by die gesondheid-, huis- en skoonheidsprodukte kleinhandelaar gehad het en hierdie kan as 'n nuttige indikator gebruik word van bestaande satisfaksie- en lojaliteitsvlakke en ook as 'n punt van vergelyking vir die bepaling van die doeltreffendheid van strategiee wat aangewend word om satisfaksie en lojaliteit te verbeter.

Thesis (MBA)--Stellenbosch University, 2005. / Some digitised pages may appear illegible due to the condition of the original hard copy. / ENGLISH ABSTRACT This study project has as its main aim the development of a framework and model for the purpose of constructing a new best practice management tool, the Social Business Contract, to align, regulate and control interactive behaviour in the workplace. The tool is presented in its concept phase only and has been developed to address a perceived gap between paperless and actual, enforceable accountability for interactive behaviour on all organisational levels. The aim of the Social Business Contract is to promote corporate social responsibility, which is influenced and shaped by interactive organisational behaviour. In order to establish corporate social responsibility in line. with Good Corporate Governance principles to which the concept of accountability inherently attaches, the core of the Social Business Contract has, as its name implies, a legal character. The overriding consequence of establishing corporate social responsibility through a legal agreement is that top-down and bottom-up accountability is created and endorsed which permeates the organisation on every level. The Social Business Contract is to be an agreement between employer and employee capable of conclusion on either an individual- or a collective basis. To this end the Law of Contract and Labour Law as benchmarked against the Constitution of South Africa are relevant to this study. In developing the framework, called the Social Business Contract Framework or S.B.C.F., a five-element approach was applied. The reason for this approach is that behaviour in the workplace is regarded as the product of interactive forces comprising of psychological, emotional, ethical, social and legal elements. The purpose of the S.B.C.F. is to give structure to the Social Business Contract and to establish the parameters in which it is to function. The S.B.C.F. consists of three tiers relating to the material, functional and procedural aspects around which the Social Business Contract revolves and which also supports the characteristics inherent in and required by law. The purpose of the model that was developed, called the P.L.E.S.E.-Model, is to assess or measure how the elements referred to in the previous paragraph, fit in relation to each other so that an overall profile of the strengths, weaknesses, opportunities and threats relating to organisational interactive behaviour can be constructed. This profile would facilitate the planning of the material content that the Social Business Contract would need to address in order to bring the interactive elements into balance with one another. The Social Business Contract's validity is dependent on obtaining and managing consensus. Due to the relationship of authority that characterises the employment relationship, the Social Business Contract seeks to promote the concepts of bona fides, justice, fairness and equality in order to alleviate the potential conflicts and pressures that may result from the power differential between the parties. It also seeks to place the Psychological Contract on a legal basis, enhance the contract of employment, encourage effective organisational design and promote Good Corporate Governance on a social level. Validation for the S.B.C.F., the P.L.E.S.E.-Model and the concept of the Social Business Contract was sought through fieldwork research. / AFRIKAANSE OPSOMMING: Die hoofdoel van hierdie studie projek, is om In raamwerk en model te ontwikkel vir doeleindes van die konstruksie van In beste-praktyk bestuursinstrument, die Sosiale Besigheidskontrak, ten einde interaktiewe gedrag in die werkplek in ewewig te bring, te reguleer en te beheer. Die instrument word slegs aangebied in konsepfase en was ontwikkel om In bemerkbare gaping tussen papierlose en wesenlike, afdwingbare verantwoordbaarheid, ten opsigte van interaktiewe gedrag op alle organisatoriese vlakke, aan te spreek. Die doel van die Sosiale Besigheidskontrak is om korporatiewe sosiale verantwoordelikheid te bevorder wat beïnvloed en gevorm word deur interaktiewe organisatoriese gedrag. Ten einde korporatiewe sosiale verantwoordelikheid daar te stel, waaraan die verantwoordbaarheidskonsep inherent gekoppel is, het die kern van die Sosiale Besigheidskontrak, soos die naam impliseer, In regskarakter. Die oorheersende gevolg wat voortvloei uit die daarstelling van korporatiewe sosiale verantwoordelikheid deur middel van In regsooreenkoms, is dat In bo-na-onder en onder-na-bo verantwoordbaarheid geskep en onderskryf word wat die organisasie op elke vlak deurdring. Die Sosiale Besigheidskontrak word vooropgestel as In ooreenkoms tussen werkgewer en werknemer wat beide op In individuele en kollektiewe vlak gesluit kan word. As gevolg hiervan is Kontraktereg en Arbeidsreg soos gemeet aan die Konstitusie van Suid-Afrika, relevant to hierdie studie. In Vyf-element benadering is toegepas in die ontwikkeling van die Sosiale Besigheidsraamwerk of S.B.C.F. Die rede vir hierdie benadering is dat gedrag in die werkplek beskou word as die produk van interaktiewe kragte wat bestaan uit sielkundige, emosionele, etiese, sosiale en regselemente. Die doel van die S.B.C.F. is om struktuur aan die Sosiale Besigheidskontrak te verleen en om die parameters waarin dit moet funksioneer, vas te stel. Die S.B.C.F. bestaan uit drie vlakke verwysend na die materiële, funksionele en prosedurele aspekte waarom die Sosiale Besigheidskontrak draai en wat ook die karaktertrekke inherent aan en vereis deur die reg, ondersteun. Die doel van die model wat ontwerp is, genaamd die P.L.E.S.E.-model, is om vas te stelof te meet hoe die elemente waarna verwys is in die vorige paragraaf met mekaar ineenskakel, sodat 'n oorhoofse profiel van die sterktepunte, swakhede, geleenthede en bedreigings met verwysing na organisatoriese interaktiewe gedrag, opgestel kan word. Hierdie profiel sal die beplanning van die materiële inhoud, wat die Sosiale Besigheidskontrak sal moet aanspreek ten einde die interaktiewe gedragselemente te balanseer, vergemaklik. Die geldigheid van die Sosiale Besigheidskontrak hang af van die verkryging en bestuur van konsensus. As gevolg van die outoriteitsverhouding wat kenmerkend is van die indiensnemingsverhouding, poog die Sosiale Besigheidskontrak om die konsepte van bona fides, geregtigheid en gelykheid te bevorder, ten einde die potensiële konflik en druk te verlig wat voortvloei uit die magsdifferensiaal wat tussen die partye bestaan. Dit poog ook om die Sielkundige Kontrak op "n regsbasis te plaas, die indiensnemingskontrak te versterk, organisatoriese ontwerp aan te moedig en Goeie Korporatiewe Bestuur op "n sosiale vlak, te bevorder. Veldnavorsing ter stawing van die S.B.C.F., die P.L.E.S.E.-Model en die konsep van die Sosiale Besigheidskontrak, was onderneem.