A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Master of Management specialising in Entrepreneurship and New Venture Creation Johannesburg, 2017 / Existing literature indicates a positive relationship between human capital and entrepreneurial capital. This has been a dominant supported view for ages. Among other scholars, Unger, et al. (2011); Davidson and Honig (2003); still uphold the view that human capital influence entrepreneurial success to a certain magnitude. However, contemporary studies argue that although the relationship has been demonstrated for decades, some assumptions to the perception should be questioned as the world evolves over time. Unger (2011); Martin, et al. (2013), and more other scholars identify the modification of the traditional assumptions. In terms of these scholars, uncertainty remains over the magnitude of this relationship and the circumstances under which human capital is more or less strongly associated with entrepreneurial success. Consideration of fragmentation in today's study with regard to conceptualization of human capital, the choice of success indicators, the context of study provide some critical challenges to the traditional perception of consistent relationships. All these aspects provide some open gaps to be filled by research. Oostebreek, et al. (2010) sees a questionable relationship between human capital factors and entrepreneurial success, which in terms of Unger, et al. (2011) give rise for the consideration of a moderator approach to study the effects of human capital on business success in order to efficiently determine whether the stated relationships exist or not. Resourced-Based Theory (RBT) was used as theoretical framework to this study. Three main constructs and five sub-constructs have been used to formulate the conceptual model from which three hypotheses were developed and tested. Empirical studies was conducted among selected informal traders in Limpopo Province – focusing in three districts. 257 unregistered small business owners were potential respondents. A quantitative methodology was employed to collect and analyse data through survey research design. The Structural Equation Modelling (SEM) along with AMOS 23, SPSS were used as descriptive statistical tools to test the validity of the hypotheses. Both theoretical and applied implications will assist the knowledge-base of researches. Policymakers will also find the implications useful in industrial policymaking. This study provides recommendations which may assist further research and other related enquiries of academic nature. / MT2017

A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Master of Management specialising in Entrepreneurship and New Venture Creation. Wits Business School, University of the Witwatersrand, Johannesburg (March 2017) / Innovation is one of the core and key characteristics of entrepreneurship, which stimulates operational and financial success of a firm. Innovation is ambidextrous in nature, characterised by exploration and exploitation. This report is concerned with exploitative innovation, which is characterised by new; products, services, and processes. This Research Report investigates how human capital investments (years of schooling and years of work experience of telecoms firms’ senior managers and executives) relate to innovation performance. This paper uses the human capital theory and the resource base theory to understand the perceived impact of human capital investments on performance and also its perceived moderation effect on the nexus between innovation and performance. Research findings from 81 senior management and executives of four major telecoms firms in South Africa indicate that innovation has a perceived direct impact on the perceived success of the firm. However, a counterintuitive relationship of human capital investments with performance is observed. Furthermore, human capital investments have a counterintuitive moderating effect on the nexus between innovation and performance. Therefore, this research report discusses human capital variable configurations that are more likely to have a perceived impact on a telecoms firm performance, and human capital variable configuration that are likely to have a moderating effect on the nexus between innovation and performance. / MT2017

A dissertation submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, Johannesburg, in partial fulfillment of the requirements for the degree of Masters of Commerce in Business Science from the School of Economics and Business Sciences. Johannesburg South Africa / Increasing competition in industries has made it necessary for established companies to regenerate themselves and renew their ability to compete. This is the goal of Corporate Entrepreneurship (CE) activities, which involve extending the firm‟s domain of competence and corresponding opportunity set, through internally and externally resources. Recently, CE has evoked interest not only from academics, but also from business practitioners and policy makers. This interest stems from the recognition of the advantage that can be gained from corporate entrepreneurship activities (Entebang, Mansor, & Puah, (2006). The prominence of State Owned Enterprises (SOEs) in the economy continues to grow. Their assets have been growing steadily since 2011 while SOEs play a critical role in the economic pursuit of advancing economic growth and developmental objectives of the country (Brown, 2014). This dissertation assesses the impact of forms of capital on corporate entrepreneurship in State Owned Enterprises in South Africa. The focus is on three forms of entrepreneurial capital which are; (1) economic capital, (2) human capital, and (3) social capital. Each form of capital is critical and has been discussed in the literature in order to orientate its utility in relation to entrepreneurship. The study was carried out in three major SOEs, which are administered by the Department of Public Enterprises. The study was based on quantitative measures using a self-administrated questionnaire. It was found that some forms of capital have a significant impact on a company‟s entrepreneurial activities. For instance, it was found that forms of entrepreneurial capital have significant influence on corporate entrepreneurship because they contributed positive toward the growth of the business. This study considered the nature or the quality of the company‟s workforce by means of employee human capital. Therefore, of all the managerial processes that can affect the pursuit of corporate entrepreneurial outcomes, Human capital is considered as one of the more vital. Furthermore, the recent loan guarantees from government to SOEs such as Eskom and South African Airways are a practical indication on the level of importance Economic capital is on corporate entrepreneurial activities. On Social capital and Corporate Entrepreneurship, Foil (1995) argued that it is the access to a diverse set of firm resources that significantly enhances corporate entrepreneurship activities, which points to the importance of Social capital at multiple levels within the organisations in pursuing corporate entrepreneurship. However, more research is required to investigate further how forms of capital impact established company‟s entrepreneurial activities. / MT2017

Thesis (M.M.(Finance & Investment)--University of the Witwatersrand, Faculty of Commerce, Law and Management, Wits Business School, 2017 / This study investigated whether the financial sector (private and public) is accessible to the SME’s and entry level entrepreneurs dominated by Black and poor people. The study employed a comparative analysis method; it compared the structure of the South African financial sector to those of India and Brazil, as newly industrialised countries. The finding indicates that the South African financial sector lacked the presence of state-owned financial institutions as in the comparable NCI countries to support SMEs and entry level Black entrepreneurs. The study then recommended the creation of state-owned microfinance institutions, whose performance will determine the need of state-owned banks / GR2018

Thesis submitted to the Wits Business School, Faculty of Commerce, Law, and Management, in fulfilment of the requirements for the Doctorate Degree in Entrepreneurship University of the Witwatersrand September 2016 / Many research findings have highlighted the importance of numerous sustainability factors needed for the growth and development of entrepreneurship. Sustainability factors such as finance, environmental stability, and good management practices determine the likely success of entrepreneurial activities. These factors are sometimes referred to as success factors and have been found to boost entrepreneurial activities as well as enhance the industrialisation process in many economies. Interestingly, entrepreneurship evolves across distinctive phases from conception to becoming a full-fledged enterprise, with sustainability factors determining the extent of success in each identifiable phase. This study was, therefore, designed to ascertain the most crucial sustainability factors necessary for navigating through entrepreneurship phases in two major emerging economies in Africa- Nigeria and South Africa. It was also designed to estimate the probability of successfully moving from one entrepreneurship phase to another, with a comparative analysis of the findings from these distinctly representative economies. Primary data was collected through administration of questionnaire to and in-depth interviews of selected respondents in the commercial capital cities of the two sample economies- Lagos and Johannesburg. STATA and Atlas Ti were used for the quantitative and qualitative analysis, respectively. The quantitative analysis was in two stages; stage one involved descriptive statistics while stage two involved inferential statistics. The results showed that relevant sustainability factors vary across entrepreneurship phases, and were peculiar to either economy. Further, some similarities exist in the sustainability factors relevant in identical phases in both economies. The results also confirmed that some factors are more crucial than others in some entrepreneurship phases. Furthermore, the probability estimates of moving from one entrepreneurship phase to another in both economies revealed the most volatile and least volatile phases in the entrepreneurship evolution. Based on the findings of this study, some policy suggestions are made, and areas for further research are identified. Financial and non-financial supports are also recommended for entrepreneurs in the volatile phases. Given the relative importance of the sustainability xii factors in each entrepreneurship phase and economy, the policy makers and other stakeholders would be aware of the core areas to channel necessary interventions. Many research findings have highlighted the importance of numerous sustainability factors needed for the growth and development of entrepreneurship. Sustainability factors such as finance, environmental stability, and good management practices determine the likely success of entrepreneurial activities. These factors are sometimes referred to as success factors and have been found to boost entrepreneurial activities as well as enhance the industrialisation process in many economies. Interestingly, entrepreneurship evolves across distinctive phases from conception to becoming a full-fledged enterprise, with sustainability factors determining the extent of success in each identifiable phase. This study was, therefore, designed to ascertain the most crucial sustainability factors necessary for navigating through entrepreneurship phases in two major emerging economies in Africa- Nigeria and South Africa. It was also designed to estimate the probability of successfully moving from one entrepreneurship phase to another, with a comparative analysis of the findings from these distinctly representative economies. Primary data was collected through administration of questionnaire to and in-depth interviews of selected respondents in the commercial capital cities of the two sample economies- Lagos and Johannesburg. STATA and Atlas Ti were used for the quantitative and qualitative analysis, respectively. The quantitative analysis was in two stages; stage one involved descriptive statistics while stage two involved inferential statistics. The results showed that relevant sustainability factors vary across entrepreneurship phases, and were peculiar to either economy. Further, some similarities exist in the sustainability factors relevant in identical phases in both economies. The results also confirmed that some factors are more crucial than others in some entrepreneurship phases. Furthermore, the probability estimates of moving from one entrepreneurship phase to another in both economies revealed the most volatile and least volatile phases in the entrepreneurship evolution. Based on the findings of this study, some policy suggestions are made, and areas for further research are identified. Financial and non-financial supports are also recommended for entrepreneurs in the volatile phases. Given the relative importance of the sustainability xii factors in each entrepreneurship phase and economy, the policy makers and other stakeholders would be aware of the core areas to channel necessary interventions. Many research findings have highlighted the importance of numerous sustainability factors needed for the growth and development of entrepreneurship. Sustainability factors such as finance, environmental stability, and good management practices determine the likely success of entrepreneurial activities. These factors are sometimes referred to as success factors and have been found to boost entrepreneurial activities as well as enhance the industrialisation process in many economies. Interestingly, entrepreneurship evolves across distinctive phases from conception to becoming a full-fledged enterprise, with sustainability factors determining the extent of success in each identifiable phase. This study was, therefore, designed to ascertain the most crucial sustainability factors necessary for navigating through entrepreneurship phases in two major emerging economies in Africa- Nigeria and South Africa. It was also designed to estimate the probability of successfully moving from one entrepreneurship phase to another, with a comparative analysis of the findings from these distinctly representative economies. Primary data was collected through administration of questionnaire to and in-depth interviews of selected respondents in the commercial capital cities of the two sample economies- Lagos and Johannesburg. STATA and Atlas Ti were used for the quantitative and qualitative analysis, respectively. The quantitative analysis was in two stages; stage one involved descriptive statistics while stage two involved inferential statistics. The results showed that relevant sustainability factors vary across entrepreneurship phases, and were peculiar to either economy. Further, some similarities exist in the sustainability factors relevant in identical phases in both economies. The results also confirmed that some factors are more crucial than others in some entrepreneurship phases. Furthermore, the probability estimates of moving from one entrepreneurship phase to another in both economies revealed the most volatile and least volatile phases in the entrepreneurship evolution. Based on the findings of this study, some policy suggestions are made, and areas for further research are identified. Financial and non-financial supports are also recommended for entrepreneurs in the volatile phases. Given the relative importance of the sustainability xii factors in each entrepreneurship phase and economy, the policy makers and other stakeholders would be aware of the core areas to channel necessary interventions. / GR2018

Thesis (MTech (Business Administration))--Cape Peninsula University of Technology, 2018. / Entrepreneurship is distinguished by its developmental and transformative qualities, particularly in the context of emerging economies. Entrepreneurship plays an important role in developing the economy of a country as the entrepreneur sparks economic activities through his/her entrepreneurial decisions. These entrepreneurial decisions lead to the creation of new business activities which in turn are a driving force in economic growth, creating jobs and enhancing fiscal credibility. However, the role of entrepreneurship in economic development varies from economy to economy and depends on the availability and accessibility of material resources, the industrial climate and the effectiveness of the political system underpinning the economy. In South Africa, there are major challenges that contribute to the unstable state of the economy. Retrenchments, the high failure rate of new businesses and the lack of growth in existing ones give credence to the summation that the South African economy is not expansively equipped to meet the challenges of a sustainable growth environment. A thriving entrepreneurial environment has significant benefits for job creation and the equitable distribution of economic wealth. In recent years, South African economists have been scrambling for solutions to the static economy that has seen a decline in new businesses of 34% from 2013 to 2014, resulting in continuing economic instability. Considering the trend highlighted above, the researcher was intrigued to examine the state of entrepreneurship and its socio-economic impact in the Cape Metropole Area. The researcher made use of a mixed-method research approach with an explanatory purpose, employing triangulation to achieve complementary results. The research invoked both interpretivist and positivist paradigms, though leaning towards the collection of qualitative data using semi-structured interviews and open-ended and closed questionnaires. The confidentiality of the information from respondents was ensured. The findings revealed that most entrepreneurs experience difficulty in accessing crucial entrepreneurial framework conditions, which hinders their activities. The findings also revealed that South Africa is at present not realising its job-creation potential and is therefore making little progress with unemployment and poverty reduction. In conclusion, entrepreneurs are essential to the economy and the society in any country regardless of its economic development. Their entrepreneurial decisions give hope to the growing number of unemployed people in South Africa. However, entrepreneurial activities are more fruitful in an environment that is condusive to buineess growth. Unless a favourable entrepreneurial environment is created, the entrepreneurial and labour classes will be incapable of realising their potential as a major engine for job creationand catalyst for economic growth. In South Africa, only a vigorous performance of the SMME sector and entrepreneurship, creating millions of sustainable jobs can stimulate economic growth and make it possible to reduce unemployment and for millions to escape the poverty trap. It is therefore recommended that the government and independent organisations work together to initiate programmes enabling existing and potential entrepreneurs to excel and initiate successful entrepreneurial activities. In general, there is a need for a macroeconomic environment that is friendly to labour-intensive investment, in order to generate spill-over growth effects, because entrepreneurs are more likely to invest productively, create jobs and contribute to poverty reduction.

A research report submitted to the faculty of Commerce, Law and Management University of the Witwatersrand in partial fufilment of the requirements for the Degree Masters in Entrepreneurship and New Venture Creation Johannesburg, 2017 / This research report seeks to explore the organised behaviour of faith-based enterprises as a sub-function of social entrepreneurship. By assessing the moral intricacies which form the building blocks of social enterprises, the research report will use literature based on social entrepreneurship to draw parallels between social enterprises and faith-based ventures to suggest that the core of faith-based ventures (FBVs) is to make a social impact not just through disseminating faith, but acting as social agents. Therefore, this research will attempt to explore the extent of faith-based enterprises as a function of social entrepreneurship, identifying the opportunities and capabilities which are seen to be generated by faith, but that have a social impact that goes beyond the faith-based organisation. Using the qualitative research approach, data was collected from six faith-based entrepreneurs in Yeoville, through face-to-face semi-structured interviews, which were conducted over a period of three months to understand the role of the faith-based venture and its social impact. By conducting a qualitative inquiry to facilitate the meaning-making process, face-to-face interviews were conducted to create a naturalistic understanding of the study, particularly assessing their role and their function in society. Biases, feelings and thoughts were recorded in order to understand the participants’ motives, purposes and the causes that underlie these actions. The findings of the study suggest that the role of FBVs acting as social agents are dependent on the reach of their audience, including the extent of their scalability which they have developed which would provide insights into the degree that the faith-based venture can have social impact. This research will conclude having suggested that the “new-age” faith-based ventures have transitioned from only providing the basic faith, to now mimicking a social enterprise, therefore implying that FBVs are another dimension of social entrepreneurship. / MT2017

A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Master of Management specialising in Entrepreneurship and New Venture Creation Johannesburg, 2017 / Globally, information communication technologies (ICT) have experienced rapid growth since the 1990’s. In South Africa, information communication technology now accounts for a larger percentage of the Gross Domestic Product than other sectors. Thus, ICT is an important driver of entrepreneurship, employment creation and economic development in SA. As such, one of the critical questions is how to ensure the competitiveness and performance of ICT firms. Entrepreneurship studies argue that the performance of entrepreneurial firms is affected by, amongst other things, the firms’ social capital such as formal networks. This study, therefore, examined the impact of formal networks on firm entrepreneurial performance of ICT firms in SA, paying specific attention to weak ties as well as the moderating role of the environment. The study adopted a positivist paradigm which relied on quantitative data, using a descriptive survey method. Applying probability sampling, a sample of 120 firms were surveyed from an industry database, achieving a 14% response rate. This response rate is adequate for the generalisation of the results (Urban & Sefalafala, 2015). In analysing the data, factor analysis to reduce several variables into latent factors was performed. Thereafter, statistical linear regression modelling was performed using the continuous dependent variable – Firm Entrepreneurial Performance indicated by: Growth in Sales and Market Share, and Profitability; and the continuous independent variable of Formal Networking indicated by: Network Tie Strength and Relationship Quality and Nature sub-constructs. The results demonstrate significant correlation between formal networking and firm entrepreneurial performance as well as weak ties. However, the results indicate no evidence for the moderating role of the environment. At a theoretical level, this shows that formal networking and weak ties are beneficial to ICT firms but the environment is a contingent factor. At a practical level, managers and firm owners should consider joining formal networks that promote weak tie relationships in order to access complementary assets and valuable information. Policy makers and other stakeholders should devise policies and programmes that support entrepreneurial ICT firms to engage in formal networking. The limitations of the study include the following: first, the study was cross sectional and limited to ICT firms on an industry database; second, the control variables did not include firm size. Future research should consider a longitudinal study to test the long-term impact of firm entrepreneurial behaviour as well as firm size to inform firm specific research. More studies should test the moderating role of environment. / MT 2017

M. Tech. Entrepreneurship / This study examined the practice of corporate entrepreneurship within K.C. Auto Technology (K.C. Auto Tech), a company that specializes in auto electrical service and parts in South Africa, serving the entire automotive, heavy-duty, construction and agricultural industry. Corporate entrepreneurship is a top-down process, which originates with and filters down to employees. It is a management strategy to foster workforce initiatives and efforts to innovate and develop new business. An assessment of the corporate entrepreneurial environment is cardinal to the successful implementation of an intrapreneurial strategy which may assist K.C. Auto Technology in gaining a competitive edge. The researcher aimed to explore the extent to which corporate entrepreneurship is practised within K.C. Auto Technology.

The restructuring of state assets was expected to contribute towards black economic empowerment and a broader redistribution of wealth to those who were previously excluded from participating actively in the economy of this country. However, there have been several accusations leveled at government. Some people believe that privatization of state assets has benefited a few. This has led to the enactment of the Broad based black economic empowerment act. There is also a concern from the communities and unions that privatization of state assets will result in poor service delivery and unemployment. The study was conducted through a quantitative methodology. The final questionnaire was administered to 40 taxi owners, 20 government employees, 20 contractors, 20 business owners and 40 local residents. Out of the 140 people, II 0 responded, thus a 79 % response rate, all was used for data analyses. The various variables (responses to individual questions) in the questionnaire were arranged to obtain a rating for each dimension covered. This procedure assumes equality of interval of the Likert scale and therefore the data is regarded as the least interval data (rather than ordinary data). The findings on the study showed that majority of the respondents were not in favour of privatisation. Recommendations made were as follows, the government through its education programmes in schools and in Adult Basic Education and Training (ABET) canters must educate citizens about socio-economic and political issues as well as familiarizing them with the government's macro - economic policy, in particular the GEAR policy. The government should only make partial privatization, and not complete/ whole privatization. / (MBA) North-West University, Mafikeng Campus, 2006