D.Com. (Business Management) / In this study the impact of Electronic Commerce (EC) on the management of an organisation is researched, with the emphasis on Strategic Management. EC is the process whereby the exchange of business data is moved from the paper environment to the use of electronic media, and in particular, communications networks. EC is analysed, and special attention is given to one of its major components, Electronic Data Interchange (EDI). The impact of EDI on the organisation is researched, and the possible benefits and dangers are discussed. As EC is such a new field, and one that depends very much on electronics, the danger does exist that management may look upon EC as a purely technical issue. In this study emphasis is therefore placed on the wide impact that EC has on the management function, and it is shown that the technical aspects are relatively of minor importance. The main argument of the thesis is that EC is not a technical issue, but a strategic business one.

This thesis explores the effects of trade costs on international trade at macro and micro levels. It focuses on traditional and non-traditional sources of trade costs that imped trade flows at various phases of a typical export shipment: behind the borders, at the borders and beyond the borders. It initially examines the connection between trade costs and the composition of developing countries’ exports and then explores the responses of firms to additional costs associated with the security of supply chain imposed on Pakistan’s firms in the wake of events of 9/11. Following this, it investigates the differential effects of domestic and international transportation distance on the reactions of firm-level trade flows and multiple margins of trade. Finally, it considers the effects of exchange rate movement on agricultural exports. The thesis primarily uses micro-level information from administrative datasets of exports and intra-country trade (VAT dataset) from Pakistan. It also benefits from international data sources, such as the WB-UNESCAP trade costs dataset, WITS, WTO tariff profiles and the World Development Indicators (WDI). This thesis comprises four core chapters (2 to 5), excluding the introduction and conclusion. The analysis at a macro level (Chapter 2) finds the trade costs negatively affect the composition of developing countries exports in that the industries located in higher trade cost countries gain a relative smaller share of manufactured exports in the country’s overall exports. The effect is relatively greater for high trade cost sensitive industries (such as automobiles, electronics) and for high trade cost regions, especially Sub-Saharan Africa. The evaluation of trade effect of US security policy on Pakistan’s exports (Chapter 3) shows that following the implementation of Integrated Cargo Containers Control (IC3) programme, Pakistan’s exports to the US relative to the EU dropped by 15%, on average. Pakistan’s firms that were forced to switch from various export-processing stations to the one specific sea port equipped with the intrusive scanning and live monitoring technologies of the export cargos, experienced the largest decline. The subsequent policy interventions aimed at facilitating the process moderated this effect to some extent. The examination of differential effects of domestic and international distances on trade flows (Chapter 4) reveals that the marginal effect of inland distance to sea ports is much larger than that of international distance from sea ports to export markets. Moreover, both distances have heterogeneous effects along trade margins. Domestic distance impedes exports primarily through extensive margins (EM) of firms and product, whereas international distance restricts these mainly through quantity margins, in addition to constricting the EM. Although the trade-impeding effects of both components of distance have reduced over time, the drop has been relatively greater for the international leg. Finally, the investigation of response of agricultural exports to the exchange rate movement (Chapter 5) indicates that the domestic currency depreciation positively affects both intensive and extensive margins (IM and EM). The increase in the IM operates mainly through the channel of prices (75%), whereas the response of quantities is relatively smaller (25%). Similarly, the increase in extensive margins operates through widening of export basket and expansion of firms’ client base within existing markets. These responses however vary widely across products, markets, firms’ exporting experience, exchange rate regimes type and invoicing currency use. Four key policy implications emerge from the thesis. First, reducing trade costs could increase manufacturing exports from high trade cost regions, and the response would be larger in high trade cost sensitive industries. Second, improving access to trade-processing infrastructure could incentivise entry of more firms into exporting and encourage widening of export basket. Third, the unintended effects of response to potential threats to supply chain could offset the trade facilitating aspect of these scanning technologies and further restrict trade flows across national borders. Finally, the policy makers need to be cautious in using domestic currency depreciation as a policy tool to promote the growth of agricultural exports as the trade response might not be commensurate with the level of depreciation.

Bibliography: p. 167-193. / This research examined the influence of two socialization strategies, namely Formal and Informal, on the participants in the service encounter; more specifically on service quality. A mail survey by means of self administered questionnaires was conducted among a matched sample of 210 front-line employees and 1050 customers in three major commercial banks with national branch networks in South Africa.

Quantization techniques have been used in many challenging finance applications, including pricing claims with path dependence and early exercise features, stochastic optimal control, filtering problems and the efficient calibration of large derivative books. Recursive marginal quantization of an Euler scheme has recently been proposed as an efficient numerical method for evaluating functionals of solutions of stochastic differential equations. This algorithm is generalized and it is shown that it is possible to perform recursive marginal quantization for two higher-order schemes: the Milstein scheme and a simplified weak-order 2.0 scheme. Furthermore, the recursive marginal quantization algorithm is extended by showing how absorption and reflection at the zero boundary may be incorporated. Numerical evidence is provided of the improved weak-order convergence and computational efficiency for the geometric Brownian motion and constant elasticity of variance models by pricing European, Bermudan and barrier options. The current theoretical error bound is extended to apply to the proposed higher-order methods. When applied to two-factor models, recursive marginal quantization becomes computationally inefficient as the optimization problem usually requires stochastic methods, for example, the randomized Lloyd’s algorithm or Competitive Learning Vector Quantization. To address this, a new algorithm is proposed that allows recursive marginal quantization to be applied to two-factor stochastic volatility models while retaining the efficiency of the original Newton-Raphson gradientdescent technique. The proposed method is illustrated for European options on the Heston and Stein-Stein models and for various exotic options on the popular SABR model. Finally, the recursive marginal quantization algorithm, and improvements, are applied outside the traditional risk-neutral pricing framework by pricing long-dated contracts using the benchmark approach. The growth-optimal portfolio, the central object of the benchmark approach, is modelled using the time-dependent constant elasticity of variance model. Analytic European option prices are derived that generalize the current formulae in the literature. The time-dependent constant elasticity of variance model is then combined with a 3/2 stochastic short rate model to price zerocoupon bonds and zero-coupon bond options, thereby showing the departure from risk-neutral pricing.

Bibliography: leaves 169-194. / This research was undertaken primarily to develop a conceptual model of service quality showing the Organizational Socialization-Service Quality linkage. Two organizational socialization strategies, namely, Formal and Informal socialization were conceptualized to influence the participants in the service encounter (the service customer and service employee), and the customers' perception of service quality. Since the literature suggested that a number of variables mediate or intervene in the organizational socialization-service quality linkage, the following variables were also included in the conceptual model, namely, organizational climate, role ambiguity and role conflict.

This study examines the structures and reliability of brand loyalty in men’s deodorant consumption, as suggested by Moolla’s (2010) framework. This is due to the fickle or disloyal nature of male Generation X and Generation Y deodorant consumers. Although, the subject of brand loyalty is popular, there is a lack of research in the investigation of Generation X and Generation Y consumers specifically in the men’s deodorant industry in Cape Town. This study attempted to close the gap by examining brand loyalty of Generation X and Generation Y consumers in Cape Town through the brand loyalty framework. Based on Chronbach Alphas, the study assessed the degree to which each factor of deodorant brand loyalty loads unto a construct or internal consistency. This study’s motivation is to attempt to assist management develop appropriate strategies, and to expand the body of knowledge for academics, due to limited information and to pave the way for researchers to explore various product categories specifically utilised by men as well as assist them with a tested brand loyalty framework. A positivist research paradigm provided the belief system in which data for the current study was gathered, analysed and used to provide solutions. A descriptive research design chosen for the study resulted in the application of a quantitative research methodology. With reference to Moolla’s research questionnaire, data for the current study was collected from men between the ages of 36 and 52 (Generation X) and Generation Y (men between the ages of 18 and 35). A total of 245 responses were received from Generation X and Generation Y men who are brand loyal to men’s deodorants and the data were collected by statistically analysing this sample. This research established that there were leading brands that consumers were brand loyal to and that there were dominant brand loyalty influences for both Generation X and Generation Y consumers in the men’s deodorant industry. In addition, it was revealed in the study that the suggested recommendations were that there needs to be further research in the men’s deodorant industry, a comparative study should be conducted, brand loyalty of other product categories should be investigated and marketers should focus on culture as a significant influence of brand loyalty. For future research, it was recommended that this study be continued on a larger scale in the men’s deodorant industry to endorse or rectify the results of this study

The proponents of the infrastructural megaprojects promise much but often fail to deliver. These projects are complex interactions of numerous stakeholders often providing technical solutions to many end-users. The extent to which megaprojects identify and adequately address risks to sustainability is of concern to the societies employing the megaproject framework for investing in infrastructure. The goal of infrastructural engineering is to design and build infrastructure that supports society. Sustainability in megaprojects is concerned with the delivery of products and services that benefit society over the long-term. Failure to do so can result in social pushback such as protests seeking accountability and a refusal to pay. The result is a burden on society who do not reap the benefits promised to them by the project proponents. This paper seeks to establish the strategic risks which have an impact on sustainability in megaprojects. The research has emerged from interviews with professionals and documented sources. The study uses a qualitative research approach of grounded theory to investigate how megaprojects can better stay on track to deliver the infrastructure they promised for the benefit of society, both now and for future generations. A model was developed using a theory building process based on a concern variable and the seven core categories that emerged during data collection and analysis. The model likened the strategic risks to sustainability to those of the semi-generic archetype of Shifting the Burden. The model was then applied to the case of the Gauteng Freeway Improvements Project to test for practical adequacy. Recommendations for further research are to investigate government guarantees, risk allocation, and responsibility as they relate to sustainability. Of importance is the lack of resilience in megaprojects, which prevents stakeholders from adapting to a changing world. Building resilience in mega-projects would allow for better adaption in the face of uncertainty.

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This study analyses if the Common Monetary Area 1s an optimum currency area for Namibia. It analyses if Namibia should continue its membership of the Common Monetary Area or whether it should consider alternative exchange rate regimes. The analysis was done in terms of the theory of optimum currency areas. The traditional theory of optimum currency areas points labour mobility, openness, diversification, intensity of mutual trade, financial and goods market integration, wage flexibility and symmetry and asymmetry of shocks as important criteria for optimum currency area. The new theory of optimum criteria points generalised purchasing power parity hypothesis, time inconsistency and the issue of nominal anchor as criteria for optimum currency area. Elimination of transaction costs, savings on foreign exchange reserves, reduction of exchange rate uncertainty are identified as important benefits from using a common currency, while the loss of seigniorage revenue, real exchange rate misalignment, impact of exports on employment are identified as the most visible costs associated with using a common currency. All criteria, benefits and costs were analysed. The results suggest that Namibia should not withdraw from the CMA, but should continue its membership and encourage negotiations for a full monetary union. That is because although the economy of Namibia is not well diversified and there is no labour mobility between Namibia and South Africa, there is a high degree of financial and goods markets integration, high intensity of mutual trade between Namibia and South Africa, and high degree of openness of Namibia's economy. The analysis of purchasing power parity hypothesis shows that the real exchange rates of Namibia and South Africa are cointegrated, and the shocks to the two economies are symmetric suggesting that the two countries require similar policy response. Analysis of the benefits and costs also shows that the benefits are far high than the costs. There are significant gains from the elimination of transaction costs, and savings on foreign exchange reserves. The impact of real exchange misalignment on measures of economic performance as well as the impact of exports on 2 employment is very weak. This weak impact of real exchange rate misalignments on measures of economic performance, and also weak impact of exports on employment as well as the symmetry of shocks of Namibia and South Africa as indicated by the Bayoumi-Eichengreen model suggest that Namibia should continue its membership of the Common Monetary Area. The symmetry of shocks of Namibia and South Africa suggests that the Common Monetary Area is still optimum currency area because these two countries require similar policy response.

This research is an investigation of the adoption of e-commerce by organisations in Botswana. E-commerce has the potential to uplift organisations in developing countries in terms of higher profits, increased productivity and efficiency in the way business is done . Organisations can also reach out to more customers and suppliers thereby increasing their geographical market without any physical expansion of their operations or increasing their workforces. Challenges abound in trying to adopt e-commerce applications and technologies by organisations in Botswana as the study will reveal. / Thesis (MBA) North-West University, Mafikeng Campus, 2013