South African Journal of Business Management - latest Issue
Volume 47, Issue 3, 2016
Source: South African Journal of Business Management 47, pp 1 –12 (2016)More Less
The consideration of risk in the banking industry generally involves the understanding of credit and financial risks. However, the occurrence of high-profile, non-financial risk events (such as system downtime and fraud) have resulted in negative financial and reputational implications for banks globally. These events have provided an opportunity for stakeholders to reflect on the consideration of non-financial risk. Therefore, the objective of this research was to understand the incorporation of non-financial risk management into the strategy process at retail banks, including the related benefits and challenges and the initiatives that have been (and require to be) undertaken. To this end, a qualitative research approach was conducted, using an exploratory design. Twelve banking subject matter experts were interviewed to explore their unique insights and experiences into the research problem. The research identified several challenges related to the consideration of operational and business risk. Key findings emerged including: the need for increased awareness of non-financial risk concepts, the need to balance risk management and business development, and the dangers of over-confidence in existing internal processes.
Job performance expectations and perceptions of retail employees : cognitive dissonances between self-reports and supervisor-ratingsSource: South African Journal of Business Management 47, pp 13 –23 (2016)More Less
Primary data was obtained from six retail outlets of a large global retailer to determine the self-reported job performance expectations (E) and perceptions (P) of 292 employees and the perceptions of 106 supervisors about their subordinates' actual job achievements. Unlike past studies, the focus of this study was on internal rather than the ubiquitous external customers' views on the performance quality and productivity of retail employees. The survey revealed that employees' performance expectations were much higher than their self-reported and the supervisors' perceptions of employees' performance. Although there were marginal differences in the mean scores between employees' and supervisors' perceptions, the average differences between the retail employees' expectations and their self-reported perceptions (Ee - Pe values), as well as between their expectations and the supervisors' perceptions (Ee - Ps values) of employees' performance were between 0.82 and 1.57. Using Anderson's (1973) expectation disconfirmation theory (EDT) this article analyses and discusses the cognitive dissonance between two performance evaluators.
The interrelationships between customer satisfaction, brand loyalty and relationship intentions of Generation Y consumers towards smart phone brandsSource: South African Journal of Business Management 47, pp 25 –34 (2016)More Less
Smart phone marketers are finding it difficult to maintain market share in a market characterised by fierce competition and continued new product development. Generation Y consumers generally have a good command of technology and engage in technology-related behaviour such as texting, tweeting and web-surfing. When it comes to the adoption of smart phone applications, it is believed that Generation Y is leading the way. To retain Generation Y consumers, it is critical for organisations to ensure that customer satisfaction is achieved, brand loyalty has to be generated and meaningful long-term relationships with these consumers should be established. In this regard, this study aims to determine the interrelationships between customer satisfaction, brand loyalty and the relationship intentions of Generation Y smart phone users. Self-administered questionnaires were fielded among 395 Generation Y smart phone users living in Gauteng, South Africa. Results indicate significant and positive interrelationships between customer satisfaction, brand loyalty and relationship intention.
Source: South African Journal of Business Management 47, pp 35 –43 (2016)More Less
Previous research has highlighted various antecedents of job insecurity, both in cross-sectional research and in a recent meta-analysis. A review of this literature indicates that work locus of control actually is the only personality antecedent that has received considerable attention, while sense of coherence may also be an important factor to consider. Data on biographical variables, cognitive and affective job insecurity, work locus of control and sense of coherence were gathered from employees across 3 organisations (N=718), presenting two different sectors (chemical industry and financial services), by means of anonymous surveys. Data were analysed by means of correlations and regression analyses. Results indicate that both work locus of control and sense of coherence play a role in predicting job insecurity, even after controlling for biographical variables. Considering their individual contributions, it is suggested here that sense of coherence may be even more important than work locus of control as a personality antecedent of job insecurity.
Source: South African Journal of Business Management 47, pp 45 –54 (2016)More Less
In South Africa, 4x4 ecotrails that fall into the adventure tourism category are increasing in popularity. The purpose of this study is to compile a profile of 4x4 trail users, identify their motives and then determine critical success factors (CSFs) for the management of 4x4 trails. The comprehension of the coherence between the travel motives that lead to a visit and the CSFs that determine whether visitors are satisfied and have gained a memorable experience (which should lead to repeat visits) is examined in this research. An online survey was conducted in South African National Parks and the focus was on ecotrails, which contribute to nature conservation and provide maximum sustainability. A total of 119 questionnaires were obtained. The results found seven motivations and CSFs, respectively, revealing two new motivational factors within this context (lifestyle and spiritual well-being) and three new CSFs that have not been identified before and put a clear focus on the trail itself (interpretation, trail planning and challenging experience). This information can be used by trail managers and marketers to reach this niche market and provide visitors with a memorable experience.
Source: South African Journal of Business Management 47, pp 55 –61 (2016)More Less
Literacy on birds and the natural environment among young citizens is critical in addressing current and emerging environmental challenges. To improve the future awareness, involvement, knowledge, values and pro-environmental behaviour of young South Africans towards birds, the natural habitat of birds and avi-tourism, this article benchmarks avi-tourism literacy rates among secondary school learners. The study arrived at an avi-tourism literacy rate of 43.66% which presupposes passive behaviour of learners towards birds, bird habitat and avi-tourism activities. Besides lacking basic bird and environmental knowledge, learners have also not yet reached the desired levels of emotional affection towards birds and the natural environment. However, increased awareness and affinity, involvement, values and behavioural intention will most likely entice pro-avi and environmental behaviour. The research poses clear challenges to professionals and educators within the tourism industry of South Africa to increase learners' willingness and motivation to act pro-environmentally through dedicated education. This supports the need to introduce an intervention programme in order to promote awareness, knowledge, values and pro-avi and environmental behaviour among learners.
Source: South African Journal of Business Management 47, pp 63 –72 (2016)More Less
Notwithstanding the 2014/15 plunge in crude oil prices, Gas-to-Liquids (GTL) technology has been acclaimed as an important alternative to existing sources of liquid fuels, leading to significant efforts by many oil and gas companies, including Sasol, Shell, Axens, BP, GTL.F1, JOGMEC and Rentech, to develop GTL processes. However, only two companies, namely Sasol and Shell, have been successful with these endeavours. In this research, a mixed methods approach has been used to explore the reasons for this success, including the influence of commercial and technical factors. A framework consisting of five commercialisation success factors was developed and an analytical hierarchy process used to compare and rank the different success factors following interviews with a diverse set of role players in the GTL industry. It is clear that large-scale GTL projects require massive capital investment and carry large techno-economic risks. Moreover, an accurate return on investment is impossible to predict due to uncertainties in technology performance and market factors. As a consequence, project developers and financiers mitigate their risk by securing co-investment from GTL operators. Shell and Sasol dominate the GTL industry not necessarily because their technologies offer higher returns, but because they have jointly invested in GTL projects, an approach which subscribes to a model of technology push with risk sharing. It is recommended that other licensors should pursue the large scale validation of their technology at an existing syngas facility as a strategy to gain entry into the GTL market.