In the literature there are mixed results on the link between credit and agricultural output growth. Some authors argue that credit leads to growth in agricultural output. Others view growth as one of the factors that influence credit supply, thus growth leads and credit follows. By and large, studies have not endeavoured to establish the short-run impact of agricultural credit on output. They are generally limited in establishing the long-run relationship between credit and agricultural output and thus present a research gap in this respect. This study contributes to the existing body of literature by focusing on the finance-growth nexus at sectoral level as a departure from extant literature that has focused on the macroeconomic level. Using South African data, the study investigated the causal relationship between the supply of credit and agricultural output as well as whether the two are cointegrated and have a short-run relationship. The study found that bank credit and agricultural output are cointegrated. Using the error correction model (ECM), the results showed that, in the short-run, bank credit has a negative impact on agricultural output, reflecting the uncertainties of institutional credit in South Africa. However, the ECM coefficient shows that the supply of agricultural credit rapidly adjusts to short-term disturbances, indicating that there is no room for tardiness in the agricultural sector. The absence of institutional credit will immediately be replaced by availability of other credit facilities from non-institutional sources. Conventional Granger causality tests show unidirectional causality from (1) bank credit to agricultural output growth, (2) agricultural output to capital formation, (3) agricultural output to labour, (4) capital formation to credit, and (5) capital formation to labour, and a bi-directional causality between credit and labour. Noteworthy and significant for South Africa is that for the agricultural sector, the direction of causality is from finance to growth, in other words supply-leading, whereas at the macroeconomic level, the direction of causality is from economic growth to finance, in other words, demand-leading. Applying a structural equation modelling approach to survey data of smallholder farmers, the positive relationship between bank credit and agricultural output observed from analysis of secondary data was confirmed. / Business Management / DCOM (Business Management)

In the literature there are mixed results on the link between credit and agricultural output growth. Some authors argue that credit leads to growth in agricultural output. Others view growth as one of the factors that influence credit supply, thus growth leads and credit follows. By and large, studies have not endeavoured to establish the short-run impact of agricultural credit on output. They are generally limited in establishing the long-run relationship between credit and agricultural output and thus present a research gap in this respect. This study contributes to the existing body of literature by focusing on the finance-growth nexus at sectoral level as a departure from extant literature that has focused on the macroeconomic level. Using South African data, the study investigated the causal relationship between the supply of credit and agricultural output as well as whether the two are cointegrated and have a short-run relationship. The study found that bank credit and agricultural output are cointegrated. Using the error correction model (ECM), the results showed that, in the short-run, bank credit has a negative impact on agricultural output, reflecting the uncertainties of institutional credit in South Africa. However, the ECM coefficient shows that the supply of agricultural credit rapidly adjusts to short-term disturbances, indicating that there is no room for tardiness in the agricultural sector. The absence of institutional credit will immediately be replaced by availability of other credit facilities from non-institutional sources. Conventional Granger causality tests show unidirectional causality from (1) bank credit to agricultural output growth, (2) agricultural output to capital formation, (3) agricultural output to labour, (4) capital formation to credit, and (5) capital formation to labour, and a bi-directional causality between credit and labour. Noteworthy and significant for South Africa is that for the agricultural sector, the direction of causality is from finance to growth, in other words supply-leading, whereas at the macroeconomic level, the direction of causality is from economic growth to finance, in other words, demand-leading. Applying a structural equation modelling approach to survey data of smallholder farmers, the positive relationship between bank credit and agricultural output observed from analysis of secondary data was confirmed. / Business Management / D. Com. (Business Management)

Industrial and Organisational Psychology / M. Com. (Industrial and Organisational Psychology )

Managing cultural differences in today’s work environment has received the attention of researchers all over the world. What has received far less attention is the managing of the cultural differences between service provider workers and customers and how this is perceived to lead to achieving great service quality. This research project focuses on the cultural differences between culturally diverse South African service provider workers and South African customers, with some reference to international customers. The questionnaire used in this research includes questions embodying the service quality instruments developed by Parasuraman, Zeithaml, and Berry (1988) and Hofstede’s (1991) cultural dimensions. The questionnaire was completed by 81 students of the East Cape Midland College in the Nelson Mandela Metropole. A Pearson’s correlation coefficient was calculated for each service quality instrument and each cultural dimension. The resulting correlation coefficients were analysed and a positive or negative correlation between each service quality instrument and each cultural dimension is shown. The implications of each positive and negative correlation are shown and how it impacts on perceived service quality delivery. The implications for service quality management are shown, followed by recommendations for the management of a culturally diverse workforce.

Submitted in fulfilment for the requirements of the degree of Master of Technology: Business Administration in the Faculty of Management Sciences at the Durban University of Technology, 2009. / Competition is increasing as trading borders continue to widen in this global marketplace. As a result, South African organisations need to improve their efficiencies. The primary objective of the study was to examine the effectiveness of the Lean Enterprise Strategy (LES) at improving business efficiency, in the electrical pre-payment industry in KZN. Several underlying objectives which support the primary objective were examined and realtionships established. Two forms of empirical studies, observation and questionaire based, were used. These studies provided substantive findings which were analysed and interpreted. A positive relationship between the LES and business efficiency were established and the various underlying objectives addressed. Communication was found to be inadequate and highlighted. It was also found that there is a substantial delay in return on investments; therefore, sustainability should be targeted and the LES should have a continual re-cycling mechanism, which allows it not only to be sustainable, but also renewable.

Thesis (MBA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: The changing political landscape, which culminated in the all-inclusive election of 1994, enfranchised the previously excluded majority voters and ushered into SA a government with a different agenda. This was an important landmark in the development of the SA business environment. Having pledged itself to improve the social and economic standards of the poor majority, the ANC-COSATU-SACP led government is committed to the elimination of barriers to enter any industry and stimulate the economy in order to improve employment opportunities. Until 1996 cement producers in SA co-operated under an official cartel that facilitated price-fixing and joint marketing and distribution. This study shows that during that period the industry recorded a healthy performance until 1996 when the cartel was dissolved. The industry performance suddenly plummeted in1996 and since then has remained on a downward trend. Analysis of the industry confirms that the industry has the characteristics of a monopoly. Three producers, namely PPC, Alpha and Lafarge, dominate the industry. The "big three" control almost 100 percent of the cement market with a cross ownership of assets which straddle the whole cement industry' in SA. Besides the assets along the cement value chain, the industry effectively has sole control of alternative cement materials businesses, namely ash and slag, and owns significant interests in aggregates and ready-mix concrete businesses too. The dissolution of the cartel in 1996 effectively disallowed price fixing, joint capacity planning and any other collusion as defined by the Competition Act of 1998. Subsequently, players are expected to fiercely compete in an industry that is an oligopoly. According to classical economics, co-operation is the effective conduct to survive in an oligopoly. Hence the contradiction between national expectations and structure of the industry creates a dilemma for asset owners. The principal barrier to entry into the SA cement industry emanates from the high capital investment requirements. This study shows that it is mainly the clinker manufacturing component of the value chain that requires very high investments. A group of small entrepreneurs, engaged in blending cement with ash or slag and selling the product in competition with equivalent products from traditional producers, has successfully entered the lower end of the industry. This is testimony to the fact that sections of the value chain have no barriers to entry. It is believed that as producers of clinker face high sunk costs they have reason to encourage more clinker content in their cement products. They may, therefore, stifle further development of alternative materials. The national imperative - to breakdown concentration of industries to allow for easy entry - seems to be in conflict with the profit motive that businesses to survive. This study therefore recommends an alternative strategy that could accommodate both views. An amenable strategy is for the industry to be redefined into three distinct subsectors with minimal cross-ownership of assets. The three sub-sectors are: 1. Clinker manufacturing: Clinker is a commodity that requires high investment costs. The sector should therefore be offered legal dispensation to operate as a monopoly but with enough regulation to ensure efficiency. It is recommended that players in this sector are allowed to co-operate for efficiency reasons and prices are strictly controlled by a regulator. The regulator must also ensure that the manufacturer is prohibited from owning interests in any other cement sub-sector, to eliminate industry control by a few. w Thus this sector must be rid of interests in aggregate, alternative materials and readymix businesses. 2. Cement manufacturing: A sub-sector for the manufacture of cement, clearly distinct from clinker production should be created. Processes for this sub-sector will commence with milling of clinker into cement and extend to marketing and distribution to end users. 3. Alternative cement materials: In view of economic stimulation, the development of alternative materials to compete with clinker should be encouraged. This sub-sector should be charged with research and development of these materials, and be allowed to blend them for marketing and distribution to end users. There are many implications that emanate from the myriad of stakeholders. Besides local owners of cement assets in SA, international asset owners and entrepreneurs in SA form part of the stakeholders. Thus shrewd planners will be required to champion this idea. It is therefore recommended that a team of academics and business practitioners be commissioned to investigate this and take it further. / AFRIKAANSE OPSOMMING: Die veranderende politieke omgewing, wat uiteengeloop het op die 1994 verkiesing, het die meerderheid kiesers tesame met die nuwe regering in 'n nuwe bedeling ingelei. Dit was 'n belangrike baken in die ontwikkeling van die Suid Afrikaanse besigheidsomgewing. Die nuutgevonde ANC-COSATU-SACP regering het homself toegewy aan sy beloftes om die sosiale en ekonomiese standaarde van die arm meerderheid van die bevolking aan te spreek, en daarmee saam om toegang tot industrie te vergemaklik, die ekonomie te stimuleer en werksgeleenthede te bevorder. Tot 1996 het sement vervaardigers in SA onder 'n offisiele kartel geopereer. Die kartel het gesorg vir fasilitering van prysbepaling, en gesamentlike bemarking en distribusie. Hierdie studie dui aan dat die sement industrie floreer het tot 1996, waarna die kartel ontbind is. Sederdien het die industrie in duie gestort, en is steeds in 'n afwaartse tendens. 'n Analise van die sement industrie toon die karaktereienskappe van 'n monopolie. Drie vervaardigers, nl. PPC, Alpha en Lafarge, domineer die industrie. Die "groot drie" beheer byna 100 persent van die sement industrie, en het verdeelde besitting van alle bates. Daarbenewens beheer hulle ook gedeeltelik of ten volle alle alternatiewe sement materiale besighede en ander verwante belange. Die ontbinding van die kartel in 1996 het effektiewelik prysbepaling verbied, asook gesamentlike kapasiteitsbeplanning en enige ander sameswering soos bepaal deur die Wet op Kompetisie van 1998. Dit word dus van alle spelers in die industrie verwag om gelykmatig te kompeteer in 'n oligopoliese industrie. Dit het egter 'n dilemma veroorsaak rondom die eienaarskap van voorheen gedeelde bates. Kapitale investering is die primêre verhindering tot toegang tot die sement industrie. Hierdie studie toon dat dit hoofsaaklik die klinkersteen vervaardigings komponent is wat groot investering vereis. 'n Groep entrepreneurs het 'n produk ontwikkel deur sement met as te vermeng, en sodoende 'n laer kwaliteit steen te vervaardig waarmee hulle suksesvol in 'n sekere marksegment meeding. Dit is getuienis van die feit dat sekere dele van die waardeketting relatief maklik binnegedring kan word. Die huidige vervaardigers van klinker produkte is onwillig om alternatiewe podukte te vervaardig, aangesien hulle die hoë koste van hul toerusting en die dienooreenkomstige kapitale investing moet regverdig. Die regeringsvisie om groot industrie af te breek om sodoende toegang tot industrie te vergemaklik, blyk in teenstelling te wees met die winsgerigtheid van besigheid. Hierdie studie stel 'n alternatiewe strategie voor wat beide visies kan akkomodeer. Dit stel 'n strategie voor wat die industrie sal herdefinieer in drie sub-sektore met minimale deling van bates. Hierdie sub-sektore is: 1. Klinker vervaardiging: Klinker is 'n kommoditeit wat groot kapitale investering vereis. Hierdie sektor moet dus toegelaat word om binne perke as 'n monopolie te opereer, met genoegsame regulering om effektiwiteit te verseker. Dit word voorgestel dat spelers in hierdie sektor toegelaat moet word om te koopereer om optimale vlakke van produksiekoste te handhaaf, en dat pryse streng gekontroleer word deur 'n regulerende liggaam. Hierdie sektor moet ook verbied word om enige ander besigheids en finansiele belange te hou by enige ander sement industrie sektor. 2. Sement vervaardiging: 'n Subsektor vir die vervaardiging van sement, duidelik onderskei van klinker vervaardiging, moet geskep word. Prosesse vir hierdie subsektor sal begin met die maal van klinker en bemarking en distribusie insluit. 3. Alternatiewe sement materiale: Die ontwikkeling van alternatiewe produkte om te kompeteer met klinker moet aangemoedig word. Hierdie subsektor moet hul toewy aan navorsing en ontwikkeling, sowel as vervaardiging, bemarking en distribusie. Daar is baie implikasies wat voortspruit vanuit die magdom belanghebbenes. Bo en behalwe die plaaslike eienaars van sement bates in SA, vorm internasionale bateeienaars en entrepreneurs ook deel van die belanghebbenes. Dit word dus voorgestel dat 'n span bestaande uit akademici en besigheid aangestel word om hierdie voorstelle verder te ondersoek.

Thesis (MBA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: Continuous change has become one of the major characteristics of the South African manufacturing environment. Such an unstable dynamic environment, where continuous change is a normal occurrence, necessitates an appropriate response in order to regain or sustain competitive advantage. The environment is changing so fast that most small and medium manufacturing enterprises barely have the ability to survive the day-to-day challenges, without even seeing or thinking about the real challenges of surviving in the future, and more importantly, not only surviving, but actually prospering through these new challenges. The conventional approaches of strategic management do not satisfy the fast decision making requirements of today's organisations. The development of the different schools of strategic planning clearly shows how the strategic management process has developed with the changing times. One of the enduring problems facing the field of strategic management is the lack of theoretical tools available to describe and predict the behaviour of firms and industries. The fundamental problem is that industries evolve in a dynamic way over time as a result of complex interactions among firms, government, labour, financial institutions and other elements of the environment. These interactions are strategic in the sense that decisions by one party take into account anticipated reactions by others, and thus reflect recognition of interdependence. Existing models tend to assume relatively simple linear relationships without feedback. Chaos theory, which is the study of non-linear dynamic systems, promises to be a useful conceptual framework that reconciles the essential unpredictability of industries with the emergence of distinctive patterns. To understand the relevance of chaos theory to strategy, industries need to be conceptualised as complex, dynamic, non-linear systems. A basic strategic planning model was developed, incorporating some aspects of chaos theory, containing the following basic elements: vision, environmental scanning, strategic objectives, measurements, strategies and performance evaluation. The final aspects covered are some aspects of strategy implementation, concluding with some final notes confirming that one of the main reasons for strategic assessment of the organisation's situation is to exploit possible advantages from external, discontinuous changes and so gain first mover advantages by surprising the 'enemy'. To cope with chaos, a quickly responsive, organic corporation needs to be crafted. / AFRIKAANSE OPSOMMING: Een van die hoofkenmerke van die huidige Suid-Afrikaanse vervaardigingsomgewing is voortdurende verandering. Ten einde 'n mededingende voordeel in hierdie veranderende, dinamiese milieu te verkry en te behou, verg besondere vaardighede en innoverende tegnieke. Die meeste klein- en mediumgroot-ondernemings bevind hulself midde-in hierdie vinnig veranderende omgewing, waar hulle nie net daagliks moet oorleef nie, maar ook die uitdaging van langtermyn oorlewing die hoof moet bied. Ongelukkig vorm langtermynoorlewing en groei dikwels nie deel van meeste ondernemings se beplanning nie. Konvensionele benaderings tot strategiese beplanning kan nie meer die moderne onderneming se behoefte aan vinnige besluitneming bevredig nie. Die ontwikkeling van die verskillende denkskole oor strategiese beplanning toon ook 'n duidelike beweging in die rigting van sneller verandering in strategiese bestuur. Een van die probleme ten opsigte van strategiese bestuur, is die gebrek aan teoretiese modelle om die gedrag van ondernemings te beskryf en te voorspel. Die onderliggende probleem is egter dat ondernemings oor 'n lang tydperk groei en ontwikkel as deel van 'n komplekse interaksie met ander ondernemings, asook met die regering, arbeid, kapitaal en ander elemente binne die bedryf. Sodanige interaksie is van strategiese belang, aangesien 'n spesifieke rolspeler telkens antisipeer watter impak elke besluit wat geneem word, op die res van die omgewing gaan hê. Bestaande teoretiese modelle impliseer relatief eenvoudige, lineêre verwantskappe wat geen terugvoer bied nie. Daarteenoor skep die sogenaamde chaosteorie, dit wil sê die studie van dinamiese, nie-lineêre stelsels, 'n konseptuele raamwerk met bepaalde patrone waarmee die onvoorspelbaarheid van ondernemings verklaar en beskryf kan word. Die relevansie van die chaosteorie vir strategiese beplanning en bestuur kan egter slegs begryp word indien ondernemings as komplekse, dinamiese, nie-lineêre stelsels beskou word. In hierdie studie is 'n basiese strategiese beplanningsmodel ontwikkel. Belangrike aspekte wat gedek is, is einddoel, omgewingstudie, strategiese doelwitte, meting, strategieë en prestasie-evaluering. Daar word ook kortliks gekyk na moontlike probleme om dié model te implementeer, met verwysings na die impak van chaosteorie op die tradisionele beplannings- en implementerings-modelle. Ter afsluiting word daar klem gelê op die geleenthede wat deur die snelveranderende omgewing geskep word, en die noodsaaklikheid daarvan dat 'n onderneming gereed moet wees om binne hierdie omgewing vinnig en effektief op te tree. Die kern van enige onderneming se sukses lê in sy vermoë om verandering raak te sien, geleenthede te identifiseer en onmiddellik daarop te reageer.

M. Tech. Business Administration / The aim of this research is to investigate the effectiveness of the entrepreneurial development programme (EDP) implemented by the Soshanguve Manufacturing Technology Demonstration Centre (SMTDC) in supporting existing and nascent entrepeneurs to establish and grow their small manufacturing venture. South Africa, like most developing countries, has a high unemployment rate, low economic growth and a dismal early-stage entrepreneurial activity. EDP's are developed to assist aspiring entrepreneurs in successfully starting and managing their ventures.

A mini-dissertation submitted in partial fulfilment of the requirements for the degree of Masters of Management (in Public & Development Management) at the University of the Witwatersrand, Johannesburg / The research examines the relationship between mineral extraction and sustainable economic development of local mining communities. The research will focus specifically on Marikana within the Rustenburg Local Municipality. The research investigates the efficacy and implementation of the regulation and legislative framework relevant for the transformation of the mining industry as well as the sustainability of the local economic development. In terms of the MPRDA, mining companies are obligated to submit a social and labour plan (SLP) when applying for mining rights. The main purpose of the SLP as per the guidelines, regulation 46, is to ensure the improvement of infrastructure, poverty alleviation and community development of the host community and in the situation from which most of the labour is sourced and being addressed. The Act further prescribes that the SLP should be aligned to the municipality‟s integrated development plans (IDP). Sec 100 of the MPRDA further prescribes the development of the mining industry charter. The charter, aims at addressing the integrated sustainable LED of the host communities, the facilitation of meaningful participation of HDSA in the mining and mineral industry. This research adopts an interpretative social science approach. The design that the research took is a qualitative approach. Primary data was collected through semi-structured interviews conducted with eight interviewees. Participants consisted of two companies (mining house, Research Company), four policy experts from local and national government, two community representatives from the ward committee and the business forum. Secondary data is from the journals, academic writings, SLP and the IDP of the municipality. The results show there are challenges with compliance with SLP and the Charter prescripts from the mining houses, also there is a debate about mining houses‟ commitment in implementing sustainable LED as there is a view that they are only focused on small, economically unsustainable projects and that they reserve mega ii projects for white established businesses to the exclusion of black start-up companies. The view that the regulator is encouraging lack of accountability of the mining houses because of lack of applying punitive measures against non-performance is also gaining traction. The issue of lack of capacity of the regulator to monitor local projects was highlighted as a contributor to mining houses‟ noncompliance. Inadequate stakeholder engagement, lack of alignment of the SLP, IDP and the priorities of the community creates a challenge due to lack of buy in and ownership of LED projects implemented. The research found that there is a need to improve alignment of the IDP, SLP and the community's priorities, improve stakeholder engagement process and also to enforce the prescripts of the Act where there is lack of adherence. KEY WORDS: Local economic development, Social and labour plans, Integrated development plans / GR2018

A project report submitted to the Faculty of Engineering, University of the Witwatersrand, Johannesburg, in partial fulfillment of the requirements for the degree of Master of Science in Engineering. / This study addresses a principal issue associated with the small-scale mining industry in South Africa, namely mineral rights. Firstly it defines a small-scale mine and its role in the South African economy. It then examines the current mineral rights policy and the conditions under which the current mineral rights policy could be reformed in order to encourage the growth of the small-scale mining sector. Various models and proposals have been examined in an attempt to suggest the most suitable policy in terms of acquisition and distribution of mineral rights, Acquisition of mineral rights remains one of the major obstacles facing small-scale mining companies. The need to change the legal framework surrounding the acquisition of mineral rights is clearly demonstrated in this project report. Simplification of the legal framework would lead to easy access to mineral rights by both large-scale and small-scale, South African and foreign mining companies and remove the traditional complexities associated with the current South African mineral rights policy which tend to sterilise mineral rights. These complexities include subdivision of mineral rights, potential lockup of mineral rights by private companies and individuals and the State. Analysis of methods to rationalise the mineral rights policy have demonstrated that nationalisation and expropriation of mineral rights are counter productive and can not be used as vehicles for access to mineral rights. In order to strengthen the small-scale mining industry changes to the mineral rights have been proposed. A model mineral rights policy framework has been designed to promote small-scale mining. Introduction of a mineral fights tax, taking into consideration the specifics of the South African mining industry, similar to that of Swaziland of 1958 is proposed as one of the ways of discouraging the sterilisation of mineral rights. It introduces a cost element in the locking up of mineral rights by private companies and individuals. It is envisaged that when the cost of holding these mineral rights is greater than the benefits of holding the mineral rights, mineral rights holders would relinquish them thereby allowing access to these mineral rights to other interested parties. The relinquished mineral rights should revert to the State, which in tum should allocate them to qualified mining companies. Due considerations of the unique characteristics of the South African mining industry need to be taken into account when designing any mineral rights policy. Implementation of any such policy should therefore be done with the consensus of the mining industry. Access to State mineral rights is also considered vital. Whilst it is important to provide the small-scale mining sector with access to mineral rights it is recognised that the success of the sector depends many factors, mineral rights among others. A holistic approach that take into all facets of small-scale mining are included in the proposed policy framework for the development of the small-scale mining industry in South Africa. / AC2017