Thesis (M.S.)--Virginia Polytechnic Institute and State University, 1994. / Vita. Abstract. Includes bibliographical references (leaves 80-82). Also available via the Internet.

Organisations are increasingly under pressure to meet financial and other objectives in dynamic and competitive markets, that are being driven more by services than by products. Marketing as a function needs to become more accountable with respect to the marketing investments that are made and the returns generated from these programmes, and hence to increase shareholder value. Intangible assets are comprising a growing proportion of this shareholder value, to the extent that 75% of the value of the organisation is currently made up of intangibles such as Human Equity, Brand Equity and Customer Equity. Thus the marketer needs to build the marketing-based intangible assets of Brand Equity, the inherent value of the brand, and Customer Equity, the sum of the lifetime values to the organisation of its current and future customers. To be able to monitor and manage marketing’s contribution, these assets need to be measured, and the effectiveness of marketing programmes needs to be determined ideally in financial terms, e.g. ROMI – Return on Marketing Investment. The purpose of this research study was to develop and test a framework of Customer Equity in the financial services sector, to guide marketing spend so that shareholder value is built by leveraging the marketing intangibles. Consequently, the objectives were to develop a model of Customer Equity, to calculate Customer Lifetime Value of customers in a segment, to determine the value drivers and the elasticity relation of Customer Equity, and finally to provide guidelines to organisations to improve their Customer Equity. The first area of research was in the field of Marketing metrics, the set of measures that helps organisations to understand their marketing performance. The recommendation for organisations is to develop a marketing dashboard, or range of key marketing indicators, which would include short-term performance measures, e.g. market share or customer satisfaction, as well as long-term planning measures, e.g. Brand Equity and Customer Lifetime Value. Brand Equity was then reviewed as a valuable intangible asset. Various models have been developed to explain the different sources, components and outcomes of ii Brand Equity, as it is a multidimensional construct. The measurement and valuation of Brand Equity was also researched, and its link to shareholder value. Customer Equity, an alternative market-based intangible asset that can be a driver of shareholder value, was also reviewed. The conclusion from a review of the models is that there are two schools: the Blattberg, Gupta and colleagues school, which tends to focus on internal analysis as typically used in direct marketing applications; and the Rust and colleagues school, which tends to focus externally on the customer and the competition. Both schools have something to contribute: the internal school, on accurate understanding of Customer Lifetime Value, and the external school, on the relative importance of the drivers of Customer Equity. This research also makes a contribution to the Brand Equity / Customer Equity debate, analysing similarities and differences, and developing a model to explain the trade-off between the two concepts. A combination of the two schools was used to develop a model of Customer Equity, including supply side inputs (for accurate CLTV calculations) and demand side inputs (for determining drivers and their elasticities). Using input from the databases of a financial institution, Customer Lifetime Value and Customer Equity for customers in the SME market sector were calculated. A convenience sample of 251 SME’s was interviewed on the demand side using a structured questionnaire, to develop data on the drivers of their importance and the relative performance of banks. A statistical model was then developed, using Principal Components Regression (PCR) analysis, to determine the drivers of Customer Equity, the factors influencing these and the relative sensitivities. A key contribution of this research was the development of the Probability of Defection as a measure of the dependent variable in the multiple regression. The model was tested by determining the ROI of two marketing programmes from the financial institution, to guide their marketing spend. Finally, a Customer Equity Management Process was developed to assist organisations in implementing a Customer Equity focus. / Prof. Chris Jooste

M.Comm.

The research problem addressed in this study was to develop a marketing plan consisting of selected elements that would give a cellular company like Vodacom a competitive advantage over competitors and to capture a significant market share when marketing mobile data services like 3G. To achieve this object, a literature study to determine the key components of a marketing plan was undertaken and a theoretical model was selected to develop a marketing plan of selected components In addition to the literature study, an empirical study was conducted to identify core concepts critical to the development of a selected element marketing plan to market 3G and re-launch mobile data services. The results of the literature study were combined with the empirical study and a marketing plan based on McDonald was developed. Michael Porter’s five forces model was used as a reference to discuss the competitor analysis, a marketing strategy was compiled with specific referencing to the four P’s of marketing and marketing controls formed the basis of this research. This study concludes with recommendations applicable for the implementation of the marketing plan and options for further research.

M.Comm. / The aim of this study is to consider how to create tomorrow's financial services organisations. Information technology and business reengineering are important within financial services organisations and have a prominent role to play in using the long-term viability of the organisation. Customers' interaction with a new technology environment has resulted in higher levels of customer satisfaction with a corresponding demand for customised and specialised services instead of traditional standardised banking services. The constant challenge of all banks, however, should be to keep abreast of change by translating business intelligence into innovative strategies. Customer's demands will dictate the new wave of banking for years to come. Ultimately, the change will come in whatever form the market and consumers demand. Business success therefore depends not only on the development of an excellent strategy but also on its effective execution. With the best will in the world, companies can develop a convincing strategy to take business forward, provide excellent products and expand the customer base. Unless companies have the appropriate supporting cultural and technological skills to enable rapid and efficient response to customers' needs, they will undoubtedly fail. Another aspect that is discussed in the thesis is the close interrelationship between marketing and business requirements in product innovation within the banking industry, specific to customer demands. The objective of this study is to give an insight into better-informed decisionmaking and the important role that business process re-engineering can play as an overall strategic resource in financial services companies to gain a competitive advantage. The efficient and effective use of information as a strategic resource in a financial services company is becoming more and more important. The real competition is for market share and trying to satisfy the needs of customers. Finally, the aim of this study is to address the importance of how to obtain a better return on information, for managers to make informed decisions that are better, quicker, more accurate and timely.

Magister Educationis - MEd / This case study explored the lessons arising from the implementation of the Insurance Preparedness Project. This was a pilot project funded by the Insurance Sector Education and Training Authority as part of a strategy for transforming the insurance industry and to establish a model for learnership implementation.Financial services industry. / South Africa

Magister Legum - LLM / The objective of this research was to draw a relationship between legal and institutional frameworks in a country, and the competitiveness of that country as a destination for investment either as real investment or portfolio investment for infrastructure development. / South Africa

Business rules shape the behaviour of a business and guide the behaviour of employees when conducting business. Therefore, business rules explain what is allowed and not allowed. It is argued that all organisations have business rules and engage in some form of relationship whether through competition or cooperation with other companies. In today’s business environment, organisations are embedded in relationships with other actors in order to gain access to resources that are needed. Therefore, each organisation’s business rules define their strategies and actions. The type of business rule behaviour which is applied by organisations encourages them to grow by taking market share from rivals or creating new markets. The aim of this study was to determine the influence of the rules of business behaviour on perceptions of the competitive banking environment in Uganda and its potential impact on certain outcomes. In this study, a quantitative research approach was adopted, as the study sought to investigate the relationships between variables. This study collected data through the use of a structured self-administered survey questionnaire which was distributed to 233 branches of banks in Uganda, totaling 700 bank employees. The survey yielded 529 usable questionnaires which were analyzed, using several statistical analysis techniques. A hypothetical model and measuring instrument of perceptions of the rules of business behaviour in the competitive banking environment within Uganda was developed. Six null-hypotheses were subjected to statistical analysis. The influence of three independent variables, namely, confrontational business behaviour, co-operational business behaviour and typologies of competition on the intermediate variable, perceptions of the competitive banking environment in Uganda were tested. The impact of these variables on three independent outcome variables, namely, organisational performance and customer loyalty and retention were also tested The empirical findings revealed that the rules of business behaviour have a significant relationship with perceptions of the competitive banking environment in Uganda. These results showed that confrontational behaviour as a rule of business behaviour can be classified as being direct or indirect. The study further revealed that banks should consider competitors as co-partners and not only as aggressors, indicating that co-operational business behaviour is statistically significantly related to perceptions of the competitive business environment in Uganda. The three typologies of competition, namely, defy attack, defense and debase attack are also positively related to perceptions of the competitive business environment in Uganda. The empirical results of the study also indicated that perceptions of the competitive banking environment have a positive relationship with outcomes such as organisational performance, customer retention and customer loyalty. This study contributed to the literature and body of knowledge regarding the impact of rules of business behaviour in the competitive banking environment in Uganda. This study could also assist banks, employees and customers alike to understand the different rules of business behaviour that exist and what strategies banks can employ to improve their position in the market. This study could also be replicated by other banks in other developing countries so as to ensure successful competition and the cooperation of banks as they engage in their activities in the banking industry.

The debate about the influence of financial market development on economic growth has been ongoing for more than a century. Since Schumpeter (1912) wrote about the happenings on Lombard Street, right up to the economists of today, there is growing interest into how financial market development affects economic activity and hence economic growth. With economic growth gaining prominence in respect of development discourse, inquiry into the finance-growth nexus has grown rapidly. The latest advances of the finance-growth nexus show a positive relationship between financial market development and economic growth. In this regard, little research has been done globally pertaining to most recent economic developments, especially concerning the BRICS economies. This research investigates the influence of financial market development on emerging economies, BRICS and non-BRICS and to determine whether the openness of financial markets in BRICS economies contributed to higher growth trajectories compared to their non-BRICS counterparts. The research utilises the Generalised Method of Moments and an extended endogenous growth model to estimate the influence of a set of financial market indicators. The study found that higher levels of credit to the private sector and financial depth in the BRICS economies contributed to the higher levels of economic growth experienced in the BRICS compared to non-BRICs emerging economies.

The purpose of this study was to develop and empirically test a hypothetical model of factors impacting performance of training institutions in Uganda in order to establish their statistical significance. The liberalisation of the education sector in Uganda, which has led to the rapid growth in the establishment of private sector higher education institutions in the country, now necessitates empirical and theoretical research into the factors impacting performance of these training institutions. The mission of higher education training institutions is to constantly create a critical academic community to debate national issues and to generate relevant knowledge for the country’s economic growth and development. The study investigated and analysed how the independent variables (individual-, institutional- and external) impact institutional performance (dependent variable). The study reviewed literature in the areas of individual-, institutional- and external factors supported by Wei’s (2006), Mackenzie-Phillips (2008), Burke-Litwin (1994), Lusthaus, Adrien, Anderson and Carden (1999) and The Jain (2005) models as presented in section 6 of chapter one. The hypothetical model developed was based on the models mentioned. The study sought the perceptions of managers and utilised the quantitative research paradigm. A survey was conducted using a self-administered questionnaire distributed to managers in both public and private training institutions in Uganda. The final sample comprised 488 respondents. Data was collected in 2012 over a period of four months. The returned questionnaires were subjected to several statistical analyses. The validity of the measuring instrument was ascertained using exploratory factor analysis. The Cronbach’s alpha values for reliability were calculated for each of the factors identified during the exploratory factor analysis. In this study, correlation and exploratory factor analysis, the KMO measure of sample adequacy and Bartlett’s test of sphericity and regressions were the main statistical procedures used to test the appropriateness of data, correlation and significance of the relationships hypothesised between the various independent and dependent variables. The study identified nine independent variables as significantly impacting the performance (dependent variable) of training institutions in Uganda. Three statistical significant relationships were found between the individual factors: knowledge acquisition, role identity, employee empowerment and performance of training institutions in Uganda. Four statistical significant relationships were found between the institutional factors: strategic intent, management capabilities, organisational resources, organisational culture and performance of training institutions in Uganda. Two statistical significant relationships were found between the external factors: political/legal, stakeholders and performance of training institutions in Uganda. The study also found five statistically insignificant variables. It was found that managers in training institutions in Uganda should encourage employees to assess their own performance. Managers should formulate a policy on transparency and practice open communication using the right communication channels. Training institutions in Uganda should consider having organic and flatter organisational structures with a wider span of control. Managers should regard economic variables such as inflation rates and tax obligations when planning and drawing up budgets as this will impact their profitability. There is a need in Uganda to collaborate with and forge close relationships with international training institutions and global partners to become more globally competitive. The study has provided general guidelines at individual level how to best utilize employees to improve performance of training institutions in Uganda. Furthermore, general operational guidelines at institutional level for improving performance of training institutions have been given for such institutions to become and remain competitive in the global market place. The study has also highlighted general guidelines regarding managing external environmental factors to assist in improving performance of training institutions in Uganda.