Scielo RSS <![CDATA[Journal of Contemporary Management ]]> vol. 19 num. 1 lang. pt <![CDATA[SciELO Logo]]> <![CDATA[<b>The Theory of Planned Behaviour as a model for understanding Entrepreneurial Intention: The moderating role of culture</b>]]> PURPOSE OF THE STUDY: The aim of this study was to examine the moderating influence of culture on the intention to become an entrepreneur within the context of the Theory of planned behaviourDESIGN/METHODOLOGY/APPROACH: A survey was conducted using convenience sampling in which a sample of 316 students was selected from a South African university. The respondents were clustered (using K-means clustering) into three cultural groups, using Hofstede's cultural dimensions as criteria, after which the moderating influence of these cultural groups on the TPB was analysed using the Process macro for SPSS. Prior to this, the validity and reliability of the constructs were assessed. One of the independent variables (Perceived behavioural control) did not exhibit adequate levels of validity and was not considered in empirical analysisFINDINGS: Personal attitude had a significant and direct influence on the dependent variable, Entrepreneurial intention. Although there was no significant relationship between Subjective norms and Entrepreneurial intention, there was a significant interaction effect by one of the cultural groups on the relationship between these two variables. This implies that Subjective norms have a greater influence on Entrepreneurial intention for members of this group than that of any of the other groupsRECOMMENDATIONS/VALUE: Accordingly, the study does offer support for the argument that culture influences entrepreneurial behaviour. Moreover, this study confirms that the conceptualisation of contemporary culture needs to be reconsidered and that significant sub-cultures may exist within nationsMANAGERIAL IMPLICATIONS: The findings suggest that mentorship programmes (or facilitating the engagement with role-models) may be effective strategies to encourage entrepreneurship as a career option for young adultsJEL CLASSIFICATION: L26, M13, Z10 <![CDATA[<b>Causes of the low penetration rate in the South African co-operative financial institution sector: A consumer perspective</b>]]> PURPOSE OF THE STUDY: This study sought to investigate the possible reasons for the low penetration rate within the South African Co-operative financial sector, focusing on consumer knowledge and their engagement with co operative financial institutions, as well as their awareness of the entrepreneurial and innovative activity of co operative financial institutions (CFIs). The study is significant because the co-operative financial institution sector in South Africa is very small compared to other African countries, with a penetration rate of just 0.1 percent despite the important role that financial co-operatives play in poverty reduction and financial inclusion, which is recognised by governments worldwide. Surprisingly, no study has been conducted in South Africa in an attempt to find the reason behind this sector's very low penetration rateDESIGN/METHODOLOGY/APPROACH: The study used a quantitative design; and a structured questionnaire was used to collect data from 303 participants around the City of Tshwane. The SPSS software package was used to analyse data. The tests included descriptive statistics, Chi-square goodness-of-fit-test, binomial test, one sample t-test, and factor analysisFINDINGS: The study found that a significant majority of the respondents did not know about CFIs or the services they offer. This may explain the low penetration rate of the industryRECOMMENDATIONS/VALUE: The study serves as the basis for a wider study in other regions of the country, and even internationally. It is recommended that research across the country, with a representative sample, be considered in future studies in order to generalise the findings to the entire countryMANAGERIAL IMPLICATIONS: The implication of this finding is that the sector's top management needs to adapt and implement a systematic programme to try and close that knowledge and awareness gap; thereby enabling them to reach a larger number of consumers. Other stakeholders, such as government and NGOs, should also review their approach to assisting co-operatives in order to be more effectiveJEL CLASSIFICATION: G21 <![CDATA[<b>Modelling the effects of gross value added, foreign direct investment, labour productivity and producer price index on manufacturing employment</b>]]> PURPOSE OF THE STUDY: The manufacturing sector plays a crucial role in various countries' economies, especially in developing countries. However, due technology growth and the emerging services sector, the possibilities and abilities of the manufacturing sector to influence economic and employment growth are becoming minimal. Therefore, job creation or destruction within this sector depends on both endogenous and exogenous factors. This study aims to investigate the effect of gross value added, foreign direct investment, labour productivity and producer price index on manufacturing employment. DESIGN/METHODOLOGY/APPROACH: To achieve the main objective of the study, authors applied the autoregressive distributed lag (ARDL), ECM and Toda-Yamamoto causality approaches to quantitative quarterly data from 1995 to 2020. FINDINGS: The study's findings suggest that both gross value added and producer price index stimulate job growth, while growth in labour productivity and foreign direct investment impede job growth in the manufacturing sector RECOMMENDATIONS/VALUE: Based on these findings, the study recommends that policymakers and economic stakeholders should implement strategies such as trade openness, as well as currency stabilisation and reduction in corporate taxes to enhance both investment and production. Additionally, government should impose limitations on the FDI level and encourage domestic investment and producer price index to stimulate employment in the manufacturing sector. MANAGERIAL IMPLICATIONS: The implications from this research study indicate that, during this era of the fourth industrial revolution and technology at work, high productivity and foreign direct investment may reduce labour demand rather than create job opportunities within the manufacturing sector JEL CLASSIFICATION: D24, E24, L60, R15 <![CDATA[<b>The preferences of consumers when selecting skin care products</b>]]> PURPOSE OF THE STUDY: The importance of existing sales affinities between products cannot be understated. Consumers shopping baskets contain multiple products, from several product categories resulting in the development of a basket of cross-category products. Given that consumer preferences are attribute-driven, the authors questioned the attribute preferences of selected cross-category skincare products. As such the aim of the study was to determine product attribute preferences for skincare cross-category products in Durban. DESIGN/METHODOLOGY/APPROACH: A quantitative research design was used in the form of a cross-sectional descriptive survey. The study targeted Durban consumers and sampled 213 students selected from three Durban universities. Sampling techniques included the use of convenience sampling and respondents were purposely selected based on their capacity to give meaningful information relevant to the study. Conjoint analysis experts and a statistician was used to ensure research instrument validity. The questionnaire was also pretested prior to data collection. FINDINGS: The results indicated acceptable, consistent scoring patterns for the research instrument. Kendall's Tau test was used to test for reliability of the research instrument. The study revealed that for skincare products, durability was the most important attribute followed by the brand, product effectiveness (strength), size, price, and scent of skincare products. In terms of demographics, significant differences were also found in the respondents' preferences for skincare product attributes. The findings of the study are limited due to the low response rate among older respondents. Many respondents were unemployed students; therefore, the findings of the study cannot be generalised. Overall, taxonomic differences seemed to produce variances in attribute preferences RECOMMENDATIONS/VALUE: The study suggests that manufacturers and retailers should emphasise the provision of more value for money through by offering more durable products. MANAGERIAL IMPLICATIONS: Retail managers may benefit from communicating more value for money for their skincare product offerings. Brands that are synonymous with longer lasting products either through offering more volume or products that require less application to achieve desired results may provide a competitive advantage JEL CLASSIFICATION: L81 <![CDATA[<b>An assessment of economic policies in Zimbabwe in compliance with SMART principles</b>]]> PURPOSE OF THE STUDY: In order to achieve self-reliance, Zimbabwe needs to concentrate on growing member countries' economies, which requires an environment conducive to growth because of political stability and good governance to be in place first. What appears to be some of the goals of the economic reforms are issues that need to be addressed now (are pre-conditions) to pave the way for the socio-economic development of the Continent. The problem is that Zimbabwe has developed and implemented several national economic policies since independence, which however, suffer from lack of implementation. In most cases, the policies are aborted at conception or during the course of their life or merely suffer a natural death with little or no documented reasons for their termination. The aim of the article therefore is to explain the Specific, Measurable, Achievable, Results-Oriented and Time Framed (SMART) policy objectives to improve economic policies for socio-economic development in ZimbabweDESIGN/METHODOLOGY/APPROACH: This study is qualitative in nature and utilised the triangulation of data in the form of conceptual analysis, document analysis, and unobtrusive researchFINDINGS: The findings show that all the selected policies did not have adequate funding from the national budgets. As such they depended on the possibility of receiving external funding to implement policy goals and objectivesRECOMMENDATIONS/VALUE: It is recommended that government prioritise its projects and programmes and implement what is feasible given the available resources and manpowerMANAGERIAL IMPLICATIONS: The study can assist government officials in Zimbabwean Public Administration/Management to understand that policy clarity and consistency can only be achieved if the proper methods of developing a policy are duly followed, such as extensive consultations, involvement of experts in developing policies, amongst othersJEL CLASSIFICATION: E61; H11; O11 <![CDATA[<b>Antecedents of Shared Value: Perceptions within the South African mining industry</b>]]> BACKGROUND: Mining has helped to shape South Africa to a greater extent than any other industry and accounts for a significant proportion of the country's gross domestic product (GDP), foreign exchange earnings and employment numbers. Despite mining being recognised as a 'sunset' industry plagued by rising costs, technical difficulties, political hostility and its legacy of diseases and negative environmental impact, South African mining is foundational to the development of all other industries and socio-economic priorities of government and communities. Shared Value (SV) creation is a core business practice that focuses on identifying and expanding the connections between societal and economic progress, including environmental opportunitiesPURPOSE OF THE STUDY: The primary objective of this study was to investigate the antecedents of SV within the South African mining industryDESIGN/METHODOLOGY/APPROACH: A convenience sample of 340 respondents who are employed as managers within the mining industry completed self-administered questionnaires in order to record their perceptions of SV. The impact of six independent variables or antecedents on shared value was testedRESULTS/FINDINGS: From a quantitative analysis, the empirical results showed two statistically significant relationships. The results confirmed that automation and innovation (through innovation for value chain inclusivity, automation and business model innovation, infrastructure development), as well as employment conditions, could be regarded as antecedents of SV in the mining industryMANAGERIAL IMPLICATION: Based upon its results, this study contributed to the existing body of related knowledge by providing practical recommendations to policymakers and managers within the mining industry to improve its competitiveness, sustainable performance and economic prosperity by resolving social and environmental issues of mutual interest to communities, government and other key stakeholdersJEL CLASSIFICATION: O21 <![CDATA[<b>Linking strategy implementation to financial performance and firm survival in women-owned small to medium enterprises</b>]]> PURPOSE OF THE STUDY: Women-owned SMEs in South Africa are plagued with numerous challenges that contribute to the slow growth and failure of their businesses. Among these challenges are inadequate managerial skills related to the formulation and implementation of suitable strategies. This study aimed to determine the influence of strategy implementation on financial performance and the survival of women-owned SMEs in Gauteng province, South AfricaDESIGN/METHODOLOGY/APPROACH: The study followed a quantitative method in which a six-section survey questionnaire was administered to 347 women entrepreneurs conveniently selected from SMEs in Gauteng Province. Statistical analyses techniques applied in the study included descriptive statistics, exploratory factor analysis, Pearson correlations and regression analysisFINDINGS: Corporate and business strategies predicted financial performance. However, operational strategy was statistically insignificant. Additionally, all three strategies, namely operational, business, and corporate, significantly predicted SME survival. Financial performance predicted SME survivalRECOMMENDATIONS/VALUE: Efforts to alleviate the decline and failure of women-owned SMEs should centre on imparting the owners with business management skills that primarily include an understanding of the formulation and implementation of strategy. Future research suggestions include extending the study to male-owned SMEs, other provinces of South Africa and the inclusion of non-registered SMEsMANAGERIAL IMPLICATIONS: Strategy formulation and implementation remain important anchors for the success of women-owned SMEs in South AfricaJEL CLASSIFICATION: L26 <![CDATA[<b>The COVID 19 pandemic as a driving force for transformational change in organisations</b>]]> PURPOSE OF THE STUDY: The COVID 19 pandemic forced widespread personal and organisational changes by a scale never experienced before in this generation. It was a driving force which triggered changes in organisations and people. This study uses Kurt Lewin's (1951) model of change to investigate the degree of organisational change and whether the changes implemented by organisations are temporary or transformational. The Kurt Lewin model postulates that change occurs when driving forces overcome restraining forces and/or when restraining forces weakenDESIGN/METHODOLOGY/APPROACH: A survey was conducted among 293 working professionals occupying different hierarchical levels in different size organisationsFINDINGS: The results showed that a significant majority of organisations (83.3%) changed processes due to the impact of the pandemic. In addition, most respondents acknowledged that they have changed their work processes and are now comfortable with the newly adopted processes. Despite the widespread adoption of these new processes, about 51.9% of respondents still think that their old processes were more effective. Notwithstanding the nostalgia, it is unlikely that most organisations will revert to old processes post pandemic, as new norms are already forming around the newly adopted processesRECOMMENDATIONS/VALUE: It is recommended that organisations investigate the impact of the changes brought about by the pandemic on organisational culture and effectiveness of performance management practicesMANAGERIAL IMPLICATIONS: Managers should work on building strong functional and collaborative teams supportive of the new norms emerging after the pandemicJEL CLASSIFICATION: M10 <![CDATA[<b>Direct and indirect influence of attachment in retaining wealth management customers</b>]]> ORIENTATION: The financial gain of retaining wealth management customers cannot be contested. In order to enhance customer retention rates, various researchers are of the opinion that organisations should focus their relationship marketing strategies on attached customersPURPOSE OF THE STUDY: The purpose of this study was to determine whether customer attachment can be valuable to wealth managers in enhancing customer retentionMOTIVATION FOR THE STUDY: The relationship building construct attachment which might influence retention has received no scholarly attention. Attachment has also never been modelled together with key retention constructs (satisfaction and trustDESIGN/METHODOLOGY/APPROACH: A quantitative descriptive research design was used to collect data through online computer administered questionnaires from a sample of 1230 wealth management customers in South Africa. A structural equation modelling approach was used to the test the hypothesesFINDINGS: The results established that respondents' attachment directly influenced retention and indirectly influenced the relationships between satisfaction and retention as well as trust and retention. The results also indicated that satisfaction and trust was significantly related to both attachment and retentionCONTRIBUTION/VALUE-ADD: This study not only empirically confirms the direct effect of customer attachment on retention but also its indirect effect on satisfaction and retention as well as trust and retention. This is the first time that this combination of factors are modelled together, to assess the extent to which they are interrelated and collectively contribute to retentionMANAGERIAL IMPLICATIONS: The findings could assist wealth managers in their efforts to retain customers, by establishing customer attachment, satisfaction and trustJEL CLASSIFICATION: M31 <![CDATA[<b>Mumpreneurs' experiences of combining motherhood and entrepreneurship: A netnographic study</b>]]> BACKGROUND: The mumpreneur phenomenon has been growing globally, warranting new research from different contexts because most related studies have been conducted in western countriesPURPOSE OF STUDY: There is a gap in our understanding of the experiences faced by mumpreneurs in South Africa (SA). Therefore, this study explores the experiences of South African mumpreneurs in combining motherhood and entrepreneurshipDESIGN/METHODOLOGY/APPROACH: This study is qualitative; it uses a netnographic approach (a form of ethnographic data collection undertaken via the Internet). The data were collected from a South African blog and analysed thematicallyRESULTS/FINDINGS: The study found that mumpreneurs across the globe face similar experiences: challenges of starting a business, managing their work-life balance, and their sources of support. The differences in experiences come from the use of domestic workers in managing work-life balance challenges and dependence on personal qualities such as perseverance and self-belief. The differences in the experiences of the mumpreneurs are attributed to the various socio-economic and socio-cultural environments to which they are exposedMANAGERIAL IMPLICATION: The findings of this study have implications for theory and practice. Theoretically the study used netnography, a less commonly used research approach in understanding entrepreneurial realities. In terms of practice, the findings from this study indicate the need for institutional support from stakeholders such as the governments, financial institutions, and business development agencies for mumpreneurs to grow their businesses. Mumpreneurs have indicated the business areas where they need assistance; these include financial acumen, cash flow management, marketing, and brand development. Therefore, the stakeholders need to provide programmes and strategies to assist and support mumpreneurs in these business areasJEL CLASSIFICATION: L26