Business Management

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Now showing 1 - 5 of 25
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    The development of a support framework for informal entrepreneurship in uMhlathuze Local Municipality, KwaZulu-Natal Province, South Africa
    (University of Zululand, 2022) Nkonde, Sipho David
    The significance of informal entrepreneurship and the value of informal entrepreneurs have been widely acknowledged considering South Africa’s socio-economic challenges and the country’s economy’s incapacity to generate formal employment opportunities. These challenges emanates from several factors, which includes the legacy of apartheid, poor education system, Covid-19 regulations, and corruption on economic system. South Africa's extreme poverty and high unemployment rates have made it more necessary than ever for unemployed people to engage in informal entrepreneurship to support themselves and provide for their households. The South African government recognises the significance of small businesses in the economy and has set up both financial and non-financial support measures to support them become self-sustaining. However, research seems to indicate that there is still room for improvement, particularly regarding informal enterprises. This study argues that they is little scholarly attention that has been given to support mechanism for rural informal entrepreneurship. This constitutes a research gap, which this study seeks to address. It is against this background that the aim of the study is to develop a support framework for informal entrepreneurship in KwaZulu-Natal focusing on uMhlathuze Local Municipality. To achieve this purpose, a sequential explanatory mixed methods approach was adopted. The study administered 256 questionnaires to informal entrepreneurs at uMhlathuze local municipality and 4 officials from financial development institutions (FDIs) were sampled and interviewed using in-depth format. The findings indicate that most informal enterprises in uMhlathuze local municipality are owned by black females who are motivated by the high unemployment rate to engage in informal entrepreneurship. The study further discovered that lack of government support is the main challenge facing informal entrepreneurs in uMhlathuze local municipality. The study recommends a support framework for informal entrepreneurship in uMhlathuze local municipality whose goal is to help informal enterprises become sustainable and generate employment opportunities.
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    Identifying risk management strategies of small, medium and micro enterprises in retail and manufacturing industries in Umhlathuze Municipality
    (University of Zululand, 2021) Khambule Thandiwe Lungile
    Small, Medium and Micro Enterprises are usually seen as an important tool for improving living standard. Considering the importance of SMMEs to economic growth, job creation and poverty alleviation, there is a need to train small business owners and managers and to expose them to risk management strategies that will promote businesses and reduce high failure rate. SMMEs are lacking when it comes to risk management knowledge and skills, which contributes to their high failure rate. In addition, South African education system is lacking when it comes to educating and training SMMEs on how to run their businesses successfully, especially exposing small business to risk management strategies for them to be able to respond to different kinds of risks. Given this background, this study sought to identify risks management strategies for SMMEs in retail and manufacturing industry focusing on uMhlathuze Municipality. The researcher used primary data for this study. The study adopted a qualitative method approach where data was collected through semi-structured interviews. Purposive sampling was used to select 12 SMMEs of uMhlathuze Municipality: 6 from the manufacturing and 6 from the retail industry. Data collected from the participants was coded and analysed using themes and content analyses. The results from the study showed that the risks faced by SMMEs negatively impact daily activities of small businesses and it also results in poor performance on SMMEs. Such risks include financial risk, resource risk, credit risk, reputation risk, inflation risk, and corona virus. Therefore, there is a need to assist SMMEs and improve their growth, as it was found that the strategies, they used to be inadequate in mitigating the identified risks. Whilst all SMMEs involved in this study reported to be faced with risks, not all of them had specific risk management strategies in place to deal with such. However, it was found that among the risk’s management strategies used by some SMMEs to fight risks are publicity and re-organizing. Use of private security, alerting customers about the price increase to ensure that they don’t get a shock or prices when purchases, insisting on deposit payments and sticking to cash transactions were some of the strategies used. Fewer SMMEs have insurance for their assets. Additionally, some of the selected SMMEs attribute their survival to getting sponsorship from government and private sector, and access to credit markets through short term loans. Sequel to the findings of the study, it is recommended that SMMEs should be given more assistance in education and training in terms of the different kinds of risks they are facing. lso, they need to be assisted with proper and quality strategies capable of keeping businesses protected and secured from risks, that will reduce risks.
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    Investigating the role of performance incentives in driving performance in a faculty from a comprehensive university in KwaZulu-Natal
    (University of Zululand, 2023) Mbukwana, Vincent Lindisipho
    Rewarding employees for meeting the organisation targets is crucial in order to motivate staff members to improve their performance. This is supported by Landry, Schweyer, Whillans (2017) that rewards such as monetary and non - monetary rewards are omnipresent and essential in today's workforce. The aim of the study was to investigate if the incentive plans and recognition plans given to the employees at the University drive performance. This study intends to recommend practical incentive and recognition plans that can be used to drive performance. The study followed a qualitative approach where data was collected through interviews. An investigation was conducted with Academics in the Faculty of Commerce, Law and Administration on the role of Performance Incentives in driving Performance at a Faculty from a Comprehensive University in KwaZulu-Natal. The collected data was analysed using NVIVO. The overall findings of the study showed a strong link between performance incentives and employees' performance. It was found that financial incentives in the form of performance bonuses influenced the employees to work harder to meet the performance targets. Moreover, the study revealed that the possibility of promotion has made staff in the University to work harder because it leads to an increase in salar
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    Measuring Service Quality Delivered to Undergraduate Students in the Department of Business Management, University of Zululand
    (University of Zululand, 2019) Enakrire, Blessing Omotejohwo
    Purpose: This study examined the measuring of service quality delivered to undergraduate students in the Department of Business Management at the University of Zululand. The purpose was to conceptualise and have critical thinking of the services rendered to undergraduate students at the Business Management Department, and whether it is commensurate to the provision of modern facilities, and other resources used by lecturers on daily basis in the institution. Approach: A quantitative research design grounded on survey method was employed for the study. The census research approach was used to select 106 third-year undergraduate students at the Business Management Department. The survey used questionnaire as instrument to collect data from third-year business management undergraduate students. The targeted population was 106 third-year undergraduate students, and 106 questionnaires were administered to them. Of the 106 questionnaires administered, only 87 were received back, which was also used in analysis of the results for the students. Descriptive and inferential statistics was used for analysis of this study. Results: Findings from the study revealed that modern facilities were used to deliver quality services of teaching, research, and supervision of students. Many of the respondents attested to availability of physical facilities used by lecturers at the Department of Business Management, which are appealing to the undergraduate students. It revealed that the institution provides the students with adequate support in terms of bursary and reading materials in the library. Provision of adequate and qualified academic staff was observed to have helped and to have strengthened the services of teaching, learning and supervision offered to students at the Department of Business Management. Office space of lecturers was not big and adequate to facilitate discussion classes and group presentations when the need arises. The majority of respondents attested to adequate study guide materials at the Department of Business Management. Most of the lecturers are always willing, sympathetic and reassuring to assist students whenever they have challenges with their studies. The student population of the Business Management Department does not give the lecturers much opportunity and the time required for adequate and quality time for teaching, learning and supervision. The majority indicated consultation hours offered 2 by lecturers and tutors as another factor. Many respondents emphasised that they did not have challenges with frequent communication in written and spoken standard English language. Some of the students have issues with local languages such as isiZulu, isiXhosa and isiNdebele used as substitute, while attending to their studies as well as group work with fellow students. The results also indicated that respondents find it difficult to adapt considering the large numbers of students in classes, as this has some implications on their academic performance. There was no counselling guidance, which could help them if their lecturers, tutors and colleagues were unable to help with their academic performance or pursuit. Based on the findings, several recommendations were made which include: the need to have efficient, effective and quality services delivered on a regular basis. The need to have more recent and diverse materials that could meet the broad needs of the students. The need to have wide or adequate offices space by lecturers in order to facilitate the discussion classes and group presentations whenever they chose to do so. The willingness, sympathy and reassurance given to students whenever there is need, arises from strengthened and re-awakened effort of lecturers. Originality/value: Students were satisfied with the services rendered to them through available modern facilities used by lecturers. The credence made on effective and efficient services rendered by lecturers at different intervals in teaching, learning and supervisory roles. Improved consultation hours of lecturers and tutors could assist students’ inadequacy in study and materials required. The willingness and reassurance by lecturers and Department of Business Management to the students could strengthen and re-awaken their morals.
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    Compensation structure and employee commitment: the case of academics at a comprehensive tertiary institution
    (University of Zululand, 2019) Ngxito, Nomfundiselo Constance
    Compensation is a complex concept which is influenced by a number of factors. The purpose of the study was to evaluate and analyse the effects of the compensation structure on employees’ commitment at the University of Zululand (UNIZULU), which is a comprehensive tertiary institution. It is the observation of this researcher that, based on nine years experience in Human Resources Management at UNIZULU, retaining academic employees at the Institution is challenged by competitorswho are steadily poaching academic employees, resulting in a high turnover over the past few years. In addition, based on this researcher’s engagements with academic employees of UNIZULU, some academics are demoralised which, in turn, affects their performance and commitment towards the institution. This researcher, therefore, saw the need to embark on this study and attempt to make a significant contribution to improving the employee benefits, particularly compensation, at UZ. In addition, this study attempts to generate new knowledge on the impact of a good compensation plan on the commitment and performance level of academic staff of a university. Apart from contributing to literature the study will also contribute to practice and formulate a theory that will promote adequate compensation for academic staff, not only at UNIZULU but generally for the world. Hence, for the purpose of this study, the following factors were considered: the working conditions of employees, lack of company policies, employee remuneration, employee benefits, academic workload, and inadequate resources. The study employed a quantitative data collection approach through which academic staff at UNIZULU were surveyed. From the findings it is recommended that UNIZULUattend to these factors as their abandonment is detrimental to the commitment and retention of the academic staff at UNIZULU.
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