PPM Papers Coming Soon

This section contains information about articles which are already reviewed, accepted and waiting for publication in next issues of the journal.

Research in hospitality management and accounting: a research synthesis and analysis of current literature and future challenges

Inna Sousa Paiva, Instituto Universitário de Lisboa (ISCTE-IUL), Universidade Lusófona de Humanidades e Tecnologias, Portugal
Paulo Reis, Universidade Lusófona de Humanidades e Tecnologias, Portugal
Isabel Costa Lourenço, Instituto Universitário de Lisboa (ISCTE-IUL), Portugal

Abstract. This study characterizes the results of social-scientific, behavioral science, and managerial/accounting research on current management and accounting matters in the hotel industry published in the most prestigious scientific hospitality journals and identifies avenues for future research. Based on an analysis of a set of 55 articles published in the journals that make up the SCImago Journal and Coutry Rank, published between 2005 and 2015, it is concluded that there is a lack of research in the financial accounting group; additional research is required for the small hotel category, and it is the important to use comparative studies that are better able to capture the characteristics of the hospitality industry. Additionally, most of the empirical studies analyzed come from European countries and statistical methods are extensively used in all topic areas. Finally, some gaps are identified in the literature and indicated future research priorities.

Using social media to market a promotional event to SMEs: opportunity or wasted effort?

Michael C. Cant, Professor, Department of Marketing and Retail Management, University of South Africa, South Africa

Abstract. Much has been said about the advantages of using social media in the marketing of brands and products of companies. Marketing, as we knew it in the past millennia, has changed dramatically and is evolving at a faster pace than ever. Traditional media, such as print and broadcast, are becoming more obsolete and largely replaced by social media platforms. These platforms are growing and expanding in leaps and bounds and have become potent instruments of marketing. It is up to organizations to use these platforms to market their brands, services and business as it can have a profound effect on the success and growth. This is even truer in the case of entrepreneurs who are generally younger and more technology savvy and who use social media for all means and purposes. The purpose of this research study was therefore to investigate the use of social media among institutions that focus on specific events such as a business plan competition and to establish to what extent the use of these social media tools were used or effectively used to communicate the event to SMEs. A web-based self-administered questionnaire was distributed among the respondents of a business plan competition. A total of 992 useable responses were received. The findings mainly revealed that institutions that use social media in their marketing drive either do not plan properly for the use of it, or is careless in their approach to these tools. The results pointed to a large number of respondents (55%) who were not even aware that social media tools were used in the promotion of the competition.

Selecting the savings account in the Slovak Republic

Marek Meheš, Ph.D., Faculty of Business Economics with seat in Košice. Department of Economics, University of Economics in Bratislava, Slovak Republic
Adela Feranecová, Ph.D., Faculty of Business Economics with seat in Košice, Department of Corporate Financial Management, University of Economics in Bratislava, Slovak Republic
Slavomíra Stašková, Faculty of Business Economics with seat in Košice, Department of Quantitative Methods, University of Economics in Bratislava, Slovak Republic
Veronika Ragányová, Faculty of Business Economics with seat in Košice, Department of Economics, University of Economics in Bratislava, Slovak Republic

Abstract. There are currently many investment and financial products that can be used for capitalizing of savings. Although investments in various commodities, shares, securities, or funds can be with high yields, it requires some knowledge and experience. Unattempted investor may experience unpleasant surprise of possible losses of greater amount of money, as such investments are generally associated with a higher risk. For these reasons, the majority of the population remains in the Slovak Republic faithful to traditional forms of capitalizing of funds. One of these forms are savings accounts in banks. The main purpose of this paper is to find possibly the best savings account in the Slovak Republic. In cooperation with experts from the field of banking, we have defined the selection criteria of savings accounts, assessed their importance and then we have arranged savings accounts offered in Slovak Republic according to achieved score. For this purpose, methods of multicriteria decision making were used. These methods are based on the evaluation of several alternative solutions based on multiple criteria. These criteria must be assigned by weights which represent their importance in decision making process. These weights were calculated using the Saaty's method, which is method based on mutual comparison of all the criteria. For final ranking of term deposits, taking into account the weights of the criteria, was used the method TOPSIS (Technique for Order Preference by Similarity to Ideal Solution).

The efficiency of use of the human capital in the agriculture

Viktor Bazylevych, Doctor of Economics, Professor, Dean of the Faculty of Economics, Taras Shevchenko National University of Kyiv, Ukraine
Galyna Kupalova, Doctor of Economics, Professor, Head of the Department of Environmental Management and Entrepreneurship, Taras Shevchenko National University of Kyiv, Ukraine
Zhanna Bulhairova, Doctoral Candidate, S.Seifullin Kazakh AgroTechnical University, Astana, Kazakhstan
Larysa Satyr, Doctor of Economics, Associate Professor, Head of the Department of Management, Bila Tserkva National Agrarian University, Ukraine
Natalia Goncharenko, Candidate of Economic Sciences, Department of Environmental Management and Entrepreneurship, Taras Shevchenko National University of Kyiv, Ukraine

Abstract. The article presents the results of theoretical review and summarizing of materials regarding the interpretation of the nature and role of human capital. It is the main strategic resource capable of solving complex problems for the country's transition to "green economy". Human capital is considered as a totality of certain personal, social, professional and business skills, as well as an important investment resource, the use of which contributes to the efficiency of production. Considerable attention is devoted to the methodological aspects of the human capital's study. Despite the importance of the problem of productive use of human capital, the relationship of quality, motivation of personnel and efficiency of its use has not been sufficiently studied, which led to the need of a more detailed study of this issue with the use of sampling, monographic studies and statistical methods for the research of stochastic relations. The study included the following stages: analysis and assessment of the level of development of the human capital of Kazakhstan compared to the developed countries, identification of factors that influence the use of this capital and calculation of strength of their relationship; formation of proposals regarding the accumulation, effective use and further development of human capital in the agricultural sector of the economy.

The conceptualisation of e-Learning at the South African public sector

Ayanda Pamella Msomi, Graduate School of Business & Leadership, University of KwaZulu-Natal, Westville Campus, South Africa
Elias Munapo, School of Economics and Decision Sciences, North West University, South Africa
Ireen Choga, School of Economics and Decision Sciences, North West University, South Africa

Abstract. The South African public sector is faced with many challenges and one of the major challenges is service delivery. This is linked skills shortage resulting in public service having too many people to train in a short period of time. Training these many employees face-to-face has its challenges as employees have to be away from their day-to-day duties to attend training and this not only has an impact on productivity but also maximizes costs. To deal with and to minimize these challenges the South African government has chosen to introduce eLearning in public sector. This is aimed at ensuring that larger numbers of government officials are trained at minimum costs and ensuring that training reaches people with different responsibilities such as top management and people with families who cannot afford to be away from home or office for training for long periods of time. This study examined the advantages and disadvantages of the introduction of eLearning in the public sector, the importance of strategic planning for eLearning, the challenges faced by the public sector when it comes to training, how other organizations internationally have conceptualized eLearning and what the public sector is hoping to achieve by introducing eLearning. The gaps in the conceptualization of eLearning in the South African public sector were identified and possible solutions including a paradigm shift from a reductionist way of thinking to a systems thinking way of thinking and doing things was recommended.

Dispositional and situational determinants of legal claiming behaviors

Cody Logan Chullen, Ph.D., Department of Management, College of Business, East Carolina University, USA

Abstract. This paper proposes why certain employees move beyond affective reactions to mistreatment across a continuum of behaviors towards formal lawsuits against their employers. In particular, employees' consideration of litigation is influenced heavily by dispositional and situational factors that directly interact with their organizational justice perceptions of managerial decisions. Environmental, organizational, and demographic variables should help shape organizational psychology and thus more fully explain employee-initiated litigation.

Managing the risk of the community engagement project: SME managerial skills transfer project at UNISA, South Africa

Louise van Scheers, Department of Marketing and Retail, University of South Africa, South Africa

Abstract. The aims of this project are to manage the risk of a community engagement project, improve managerial of SME owners in the Tshwane community and promote CE scholarship engagement. CE opportunities as well as the high failure rate of SMEs motivated the lecturers of the Department Marketing and Retail to initiate training workshops in their community. This CE project SME skills transfer workshops aims to expand our involvement with our community and develop community engagement projects in addition also transfer managerial skills to SME owners in our community.
Quantitative, exploratory research was used in the form of questionnaires with owners of SMEs participating in the workshops. The conducted research established that the most successful advertising medium is wall painting. With this community engagement project we have reached 200 SMEs. We have promoted CE scholarship engagement and manage the risk of this project. One of the secondary objectives was to manage the risk of this project. The results in table 1 indicate that the risk is managed adequately. This project is not considered as a high risk project for the university. The aims were achieved as evidence of transferring of managerial skills; managing risk of the project, promotion of CE scholarship and publishing articles through our CE project were achieved.

Factors that influence ethical and legal practice of competitive intelligence in the South African property sector a conceptual model

Tshilidzi Eric Nenzhelele, Senior Lecturer, Department of Operations Management, UNISA, South Africa

Abstract. In spite of ethical concerns surrounding the practice of competitive intelligence (CI), firms in the property sector practice CI ethically and legally. No research has been conducted to establish the factors that influence firms in the property sector to practice CI ethically and legally. This research aimed to explore the literature to establish factors that may influence property practitioner firms to practice CI legally and ethically. The research was qualitative in nature and used content analysis to analyze the collected data. The research established eight factors that may influence property practitioner firms to practice CI ethically and legally.

Factors affecting the implementation of the taxi recapitalisation project: the Department of Transport, South Africa

Germinah Evelyn Chiloane-Tsoka, School of Operation and Management sciences, University of South Africa, South Africa

Abstract. The advent of democracy in 1994 presented the South African government with twin challenges, of significant was institutional transformation while simultaneously introducing new policies in line with the democratic Constitution. In effecting the Constitution, new policies and programmes were put in place that would attempt to improve the lives of all citizens. The taxi recapitalisation programme was amongst challenges facing South African government. The taxi industry plays a crucial role in the economy and contributes 65% of public commuters taking into consideration that the majority of South Africans are poor and dependent on public transport. Thus, access to public transport is seen as a basic right of all citizens, as enshrined in the Constitution of the Republic of South Africa (108 of 1996, p. 1251). The right of access to public transport has to be complemented with availability, affordability, appropriateness and timelines of a service within a safe and comfortable environment to the satisfaction of those who use public transportation. This paper is based on literature review. Contend analysis method was used. The objective of the paper was (i) to investigate factors affecting the implementation of government's TRP by the Department of Transport. (ii) Investigate the pillars informing the implementation of the TRP. (iii) establish the role of the South African National Taxi Council (SANTACO) in the implementation of the Taxi Recapitalisation Project.

Perceived barriers to the development of Small, Medium and Micro Enterprises: a case study of Thulamela Municipality in the Limpopo Province of South Africa

Gift Donga, Student, Department of Business Management, University of Venda, Thohoyandou, South Africa
Hlanganipai Ngirande, Lecturer, Department of Human Resource Management and Labor Relations. University of Venda, Thohoyandou, South Africa
Knowledge Shumba, Student, Department of Business Management. University of Venda, Thohoyandou, South Africa

Abstract. The study investigated the perceived barriers to the development of Small, Medium and Micro Enterprises (SMMEs) operating in the South African small business sector. A quantitative orientation was used in carrying out the study through self-administered questionnaires and a descriptive quantitative method of analysis was applied. The research population consisted of entrepreneurs within the Thulamela Municipality in the Limpopo Province of South Africa. A purposive sample of seventy-five SMME owners and managers participated in this study (males = 73%, n = 55; females =27%, n = 20 and, age range 18-55 years).The study seeks to add on the narrow body of literature concerning barriers faced by Small, Medium and Micro Enterprises within the small business sector by revealing how SMMEs in South Africa are stalled from developing into successful enterprises as a result of some major barriers affecting the small business sector. The study revealed that indeed SMMEs in Thulamela Municipality in the Limpopo Province of South Africa are faced with various barriers affecting their development. Five significant barriers were identified namely lack of finance, access to market, out-dated equipment and technology, poor infrastructure and lack of training. The study recommends on the action plan that is required for SMMEs to increase their efficiency and sustaining themselves against possible barriers thereby helping entrepreneurs to exploit the full potential of the SMME sector.

Critical environmental dynamics: barriers restraining business growth in rural areas of southern region of KwaZulu-Natal province, South Africa

Lawrence Mpele Lekhanya, Department of Public management and Economics, Durban University of Technology, South Africa

Abstract. The study intends to examine the understanding and awareness of environmental dynamics and their implications of rural SMEs in the southern region of KwaZulu-Natal (KZN) province. The study was conducted within the rural areas of the Southern region of KZN province, using quantitative research methods. The sample for the study was consisting of 150 owners/managers of SMEs. The respondents were selected using quota sampling and required to complete a research questionnaire, with an interviewer present to assist. The research instrument consisted of closed-ended, questionnaires made up of 5 point Likert scale responses and questionnaires were distributed to five selected areas in rural Southern region of KZN province. The research findings indicate the size of local market is very small to sell their products; poor infrastructure has an impact on their business growth, lack of financial support, as well as tough government regulations just to mention the few. This study provides both theoretical and practical implications for rural entrepreneurs and policy-makers. The study presents a number of recommendations, including a conceptual growth model for rural SMEs.

Major challenges to sustainable enterprise development within the tourism industry in Libreville, Gabon

Elsa-Olivia Moussavou, Faculty of Business and Management Sciences, Cape Peninsula University of Technology, South Africa
Robertson K Tengeh, Faculty of Business and Management Sciences, Cape Peninsula University of Technology, South Africa
Chris Cupido, Faculty of Business and Management Sciences, Cape Peninsula University of Technology, South Africa

Abstract. SMMEs provide an indispensable framework for addressing unemployment, poverty and boosting the economy of a country. This report was impelled by the need to create and sustain enterprises within the hotels and restaurant sub-sector of the tourism industry in Libreville, Gabon. A quantitative methodology was embraced to disperse seventy self-administered questionnaires to owners and managers of hotels and restaurants. The results demonstrate that the key components which lead to the failure or non- sustainability of businesses include: limited access to start-up finance required to cover start-up and growth cost, the low return on investment, as well as the mismanagement of businesses. Given that job creation remains a dependable method for diminishing unemployment and poverty, establishing and sustaining businesses in Libreville would be a step in the right direction in Gabon.

Comparing residents' perceptions in townships and suburbs regarding service delivery by municipality under administration

Molefe Maleka, Tshwane University of Technology, South Africa
Tshaudi Motsima, Tshwane University of Technology, South Africa
Refilwe Matang, Tshwane University of Technology, South Africa
Patrick Lekgothoane, Tshwane University of Technology, South Africa

Abstract. The purpose of this study is to explore the perceptions of residents staying in suburbs and townships regarding the service delivered by a municipality under administration. The South African literature shows that residents in different locations behave differently when they receive poor service delivery from municipalities. Internationally, service delivery by municipalities has been measured using two research instruments. The research design was a survey and the sample size was 522 respondents. The convenient sampling technique was used to select them. The primary data were collected via face-to-face interviews, and a validated services perception (SERVPERF) questionnaire, developed by Cronin and Taylor, was adapted and used to collect data. The main finding of the study was that residents in the townships did not organise themselves and voice their dissatisfaction by embarking on protests, and they significantly agreed (Odds ratio =0.54; P=0.005; 95 confidence interval = 0.3516; 0.8279), more than the suburbs residents, that in the past eight months the service had improved. The study concludes with recommendations for future research and implications for municipalities.

Financial cost implications of inaccurate extraction of transactional data in large African power distribution utility

Patient Rambe, Department of Business Support Studies, Central University of Technology, South Africa
Johan Bester, Department of Business Support Studies, Central University of Technology, South Africa

Abstract. In view of the increasingly competitive business world, prudent spending and cost recovery have become the driving force for the optimal performance of large public organisations. This study, therefore, examined the cost-effectiveness of a Large Energy Utility (LEU) in a Southern African country by exploring the relationship between extraction of transactional customer data (that is, data on the servicing and repairing energy faults) and the Utility's recurrent expenditure (especially its technicians' overtime bill). Using data mining, a large corpus of the LEU Area Centre (AC) data was extracted to establish the relationship between transactional customer data extraction including capture and the financial cost of the LEU (e.g. recurrent expenditure on overtime bill). Results indicate that incorrect extraction and capturing of transactional customer service data has contributed significantly to the LEU's escalating overtime wage bill. The data also demonstrate that the correct extraction and capturing of transactional customer service data can positively reduce the financial costs of this LEU. The paper demonstrates one of the few attempts to examine the effects of correct data extraction and capture on the financial resources of struggling large public energy utility. Using Resource based Theory, the study also demonstrates how technicians' feedback on incorrect transactions enhances the measurement of inaccurate transactional data albeit a burgeoning overtime wage bill incentives.

Transformational leadership and change readiness and a moderating role of perceived bureaucratic structure: an empirical investigation

Badri Abbasi, Department of Business Management, Rasht Branch, Islamic Azad University, Rasht, Iran

Abstract. The purpose of this study was to examine the relationship between transformational leadership and change readiness through perceived bureaucratic structure among government employees in Rasht. The methodology used was applied descriptive method using questionnaire to collect data. The studied population consisted of 600 employees from three state organizations including Municipality, Gilan Tax Department and Gilan Justice Court. According to Morgan table, the sample size was estimated at 234. This study examined six hypotheses which were tested using multiple regression method. The results showed that transformational leadership had a positive direct effect on employee change readiness and its dimensions. However, substitution of the bureaucratic structure in the model eliminated the effect. Finally, the hypothesis on the effect of transformational leadership on change readiness through perceived bureaucratic structure was rejected.

The impact of practical entrepreneurship project on future entrepreneurial intentions: views from South African students

Tshilidzi Eric Nenzhelele, Senior Lecturer, Department of Operations Management, University of South Africa, South Africa
Nthabiseng Violet Mashaba, Senior Lecturer, Department of Business Management, University of South Africa, South Africa
Kopano Kalvyn More, Business Advisor, Small Enterprise Development Agency, South Africa

Abstract. The recurrent struggle of seeking employment and the saturated labor market is a harsh reality in the lives of many university students. Entrepreneurship is arguably the most effective contributor to employment and economic growth. However, very few entrepreneurship graduates start businesses immediately after graduation. Moreover, while academic institutions invest in developing entrepreneurship curriculum and extending the body of knowledge, little is invested in practical programs. There is therefore a need to practically teach entrepreneurship. This research was aimed at establishing the impact of practical entrepreneurship project on future entrepreneurial intentions of students. The research was quantitative in nature and a questionnaire was used to collect data from the respondents. The research found that the practical entrepreneurship project had a positive impact on the future entrepreneurial intentions of the students. The sample for the survey reported in this article included 25 participants across various career fields.

The relationship among change implementation, job satisfaction and organizational citizenship behavior in the BPO industry in South Africa

George N. Muzanenhamo, Faculty of Business & Management Sciences, Cape Peninsula University of Technology, South Africa
Charles O.K. Allen-Ile, Department of Industrial Psychology, University of the Western Cape, South Africa
Anthea Adams, Faculty of Business & Management Sciences, Cape Peninsula University of Technology, South Africa
Chux Gervase Iwu, Faculty of Business & Management Sciences, Cape Peninsula University of Technology, South Africa

Abstract. The unique and dynamic Business Process Outsourcing (BPO) industry in South Africa strives to thrive in a challenging business environment with the attendant need for stability, loyal and satisfied workforce. An empirical investigation was therefore conducted utilizing managerial and non-managerial employees in a stratified sampling technique. Questionnaires were administered to 250 employees from four selected organizations. The essence was to examine the nature of the relationship among change implementation, job satisfaction and organizational citizenship behavior (OCB). Four significant results emerged. Firstly, there is a positive but moderate relationship between change implementation and OCB; there is a high or strong positive relationship between change implementation and job satisfaction; there is a positive but moderate relationship between OCB and job satisfaction; and lastly the results confirm the assumption that job satisfaction moderates the relationship between change implementation and OCB. BPO firms need to understand the effects of change implementation on OCB and job satisfaction. This is because change management is inevitable in the BPO industry; therefore organizations have to be constantly alert to tackle its demands.

The German corporate governance code and its adoption by listed SMEs - just another Procrustes bed'?

Thomas Steger, Ph.D., Professor, University of Erlangen-Nürnberg, Germany
Markus Stiglbauer, Ph.D., Professor, University of Erlangen-Nürnberg, Germany

Abstract. The discussion of companies' compliance with corporate governance standards and codes has widely neglected the situation of small and medium-sized enterprises (SMEs). Accordingly, the authors examine a sample of 151 SMEs listed on the Frankfurt Stock Exchange in 2006 (before the financial crisis) and 2012 (after the financial crisis) and, thus, required to declare whether they comply with the recommendations of the German Corporate Governance Code or not. While code compliance seems to be quite homogenous comparing different branches, the authors found that company size has a positive impact on code compliance. With regard to a remarkably high number of recommendations a lot of companies do not comply to, company size might be a major problem, why the existing GCGC does not fit very well to the situation of SMEs. This is why, most remarkably, code compliance does not exert any significant influence on either market reaction or on operating performance of SMEs.

SMEs: do they follow a shotgun or rifle approach when it comes to target marketing?

Michael C. Cant, D.Com. Marketing Management, Research & Development Professor, Department of Marketing and Retail Management, University of South Africa, South Africa
Johannes A. Wiid, D.Com. Marketing Management, Research & Development Professor, Department of Marketing and Retail Management, University of South Africa, South Africa
Adri Meyer, M.Com. Marketing Management, Lecturer, Department of Marketing and Retail Management, University of South Africa, South Africa

Abstract. As SMEs are the drivers of employment and GDP in many cases, SMEs are also critical to the development of any economy and their survival and success are, thus, important. With the high levels of failure of SMEs it has become imperative that there is a drive to ensure the survival of SMEs. A way in which SMEs, can enhance their potential success rate and business performance is by means of proper target market selection in order for the business to focus their marketing efforts. This will allow the business to timeously identify opportunities and threats in the market and to react to these situations. The business will also have a greater understanding of their target market, and their needs and wants. Understanding the target market will assist the business in developing marketing strategies that are suited for the target market and enhance its chances of success. This study aimed to identify whether SME owners and managers have target market knowledge within a South African SME context. The main results indicate that although SME owners and managers claim they are aware of their specific target markets (90%), they do not have customer knowledge regarding the psychographic and demographic aspects of their target market. By using effective target marketing communication, SMEs can improve on their merchandising planning and product assortment and offerings to better serve their target market(s).

Discretionary disclosures: reactivity and proactivity in the chairpersons' statements of JSE-listed companies in South Africa

Nthabeleng Mmako, PhD student, Lecturer, Department of Entrepreneurship, Supply Chain, Transport, Tourism and Logistics Management, University of South Africa, South Africa

Abstract. A review of the literature on corporate governance and narrative disclosures highlights the need for assessment of the formulation of the chairperson's statement. This research is justified as corporate reporting today is more integrated. The significance of the study may be that even though only the chairperson's statement is investigated, it may be a good starting point for understanding how change is ushered into an organization and from what perspective this takes place. Findings of content analysis of 100 Johannesburg Stock Exchange (JSE)-listed chairperson's statements suggest that as part of the communication intended mainly for investors and other stakeholders of the company, the chairperson's statement is written as a reactive statement to environmental factors or as a proactive statement to counter environmental factors that may affect or have affected the company's performance. This study will be useful in helping readers to improve their understanding of a company's efforts to communicate with them, from the chairperson's perspective.

A synthesis of changing patterns in the demographic profiles of urban street vendors in Botswana, South Africa and Zimbabwe

Gwendoline Vusumuzi Nani, Department of Business Management, National University of Science and Technology, Zimbabwe

Abstract. Street vending is a phenomenon that has been in existence for hundreds of years. It has since increased owing to economic challenges experienced, especially in developing countries. This paper sought to highlight changing patterns in the demographic profiles of urban street vendors in Botswana, South Africa and Zimbabwe through a desk research study. The aim was to sensitize local governments, particularly in Zimbabwe, to develop appropriate policies in line with changing patterns in the demographic profiles of urban street vendors. Findings revealed that there has been an increase in the number of single and married women in urban street vending; more young people have joined this practice and more educated people are also part of urban street vendors. The study concluded that street vending is a dynamic phenomenon with changes having been noticed in gender, marital status, age and level of education of urban street vendors. Recommendations were that local governments need to re-visit policies pertaining to planning for urban street vending in line with the changing circumstances.

Factors influencing the perceptions of youth entrepreneurship development in South Africa

Germinah Evelyn Chiloane-Tsoka, School of Operation and Management sciences, University of South Africa, South Africa

Abstract. Youth unemployment is one of the central concerns affecting global economics in the world today. The recent World Economic Forum held at Davos prioritized the discussions on issues confronting youth unemployment. The International Labour Office (ILO, 2013) projected a global youth unemployment rate of 12.7% by 2017. According to the ILO, (2013), 202 million people are unemployed globally and 40% are under the age of 24. South Africa fares even worse. Statistics SA (2012) indicates that 71% of the unemployed are aged 25-34 and the unemployment rate among youth is 36%. About 3.3 million youth aged 15-34 are not employed or studying (Financial Mail, 7th February 2013). With this in mind, the paper intends to look at the perceptions affecting youth entrepreneurship development in South Africa and whether entrepreneurial education and training fosters the development of entrepreneurial orientation in the South African youth. A five point Likert Scale was used, 1 = Strongly disagree 3 = Neutral and 5 = Strongly agree. Furthermore, a quantitative research method was used and 132 grade eleven learners were purposefully selected randomly in Crawford high school in Gauteng. Findings indicate that entrepreneurship education and training can direct students towards certain career choices; secondly, planned behavior can be predicted; and thirdly, practically is able to increase the propensity of students to start a business.

Human capital intelligence and economic development

Alexander Maune, CIMA Dip. MA, B.Com., M.Sc., Ph.D., Post-Doctoral Research Fellow, CEMS, Department of Business Management, University of South Africa, South Africa

Abstract. This article explores human capital intelligence and economic development in Zimbabwe with some examples adopted from Israel and many other countries. A qualitative-exploratory literature review methodology was used for the purpose of this study because of its suitability. The primary concern of the author was to have and provide an in-depth analysis and understanding of the multiple realities and truths pertaining to human capital intelligence and economic development in Zimbabwe. An inductive approach was adopted for the purpose of this study. The findings of this article will make it possible to generalise the role of human capital intelligence towards economic development of a country and to develop some valuable propositions for future studies. The findings show that human capital intelligence plays a critical role in economic development, through laying a foundation for economic development, attracting foreign direct investment, personal remittances, as well as attracting venture capitalists. Empirical evidence from countries such as Israel shows the criticality of human capital intelligence development to economic development of a nation. This article will assist business managers, societal leaders, policymakers, as well as governments to understand the criticality of human capital intelligence towards the development of a company, society and nation at large. This article has, therefore, academic, societal and business value.

Crowdsourcing strategy: how openness changes strategy work

Kurt Matzler, Faculty of Economics and Management, Free University of Bolzano, Italy
Johann Füller, Department of Strategic Management, Marketing and Tourism, Innsbruck University School of Management, Austria; Hyve AG, München, Germany
Katja Hutter, Department of Marketing, Salzburg University, Austria
Julia Hautz, Department of Strategic Management, Marketing and Tourism, Innsbruck University School of Management, Austria
Daniel Stieger, Department of Strategic Management, Marketing and Tourism, Innsbruck University School of Management, Austria

Abstract. Strategy development has traditionally been exclusive and secretive. Social software offers new opportunities to harness the collective intelligence of the crowd within organizations and allows more open, participatory modes of strategizing. This paper describes this new phenomenon of open strategy though crowdsourcing and discusses its implications for research and practice. It draws on first examples of crowdsourcing strategy and is further based on observations and theoretical reflections. To understand the phenomenon with its requirements and consequences a number of questions and challenges are identified which remain to be investigated. These include how the process of opening up needs to be designed, how individuals can be motivated to engage, for which topics and under which conditions crowdsourcing strategy is a suitable approach, how strategies emerge in such initiatives, the appropriate role of management, and how corporate culture affects and is affected by crowdsourcing strategy. Open strategy through crowdsourcing is a newly emerging empirical phenomenon, which seems to fundamentally change the strategist's work. More open, and inclusive ways of strategizing offer new opportunities but also create some challenges for organizations. This paper deepens the insights in this new phenomenon and identifies seven topics critical for research and management practice.

Emotional labor in academe. Challenges faced

Nelesh Dhanpat, Department of Industrial Psychology and People Management, University of Johannesburg

Abstract. Interest in the study of emotions have always been present. Academic jobs are susceptible to multiple demands from various stakeholders. This paper presents the occasion to question whether academics are emotional laborers? The concept of emotional labor have been heavily investigated and researched in the customer service domain. Notably, emotional labor in higher education institutions are a relatively understudied research area. A theoretical framework of emotional labor is presented. It is essential to understand the demands that emotional labor place on academics and its impact on higher education institutions. Subsequently, the paper explores emotional labor among academic staff in higher education institutions, namely, the university system. The consequences and challenges of emotional labor are further evaluated. The paper is a conceptual meta-analysis and qualitative in nature. The study uses secondary data and reviews various literature on emotional labour, teaching and higher education institutions, and presents a conceptual paper. It considers the evaluation of academics in higher education institutions as emotional labourers. Literature was further probed to investigate academics as emotional labourers. Subsequently, the consequences and challenges were discussed. The paper further suggests that higher education intuitions need to be cognisant of the demands that emotional labour place on academic staff and the impact on their well-being. It is essential that the quality of work life of academics within higher education are addressed, as such studies are long overdue and under researched.

Determining shopping mall visitors' perceptions on mall attributes

Sipho Makgopa, University of South Africa

Abstract. The challenging retail environment necessitates a need to manage shopping malls effectively to understand the attributes that attract shopping mall visitors to visit shopping malls. The purpose of the study aimed to determine shopping mall visitors' perceptions or ratings towards shopping mall attributes they consider when choosing which shopping mall to visit. A quantitative approach was followed to realise research objective using interviewer-administered questionnaires for data collection. The data were collected at shopping centre in the capital city of South Africa, City of Tshwane. A descriptive analysis method was used to analyse the quantitative data. The findings of the study revealed that the shopping mall visitors' ranked adequate parking availability high. This study contributes to the current literature and provides valuable information to South African retailers and shopping mall developers, with regard to marketing communications and marketing strategies that aim to attract shopping mall visitors. Suggestions for future research are provided.

Best practice in entrepreneurship education

Cecile Nieuwenhuizen, Ph.D. Business Management, Head of Department, University of Johannesburg, South Africa
Darelle Groenewald, Ph.D. Entrepreneurship, Senior Lecturer, University of Johannesburg, South Africa
John Davids, M.Com. Business Management, Lecturer, University of Johannesburg, South Africa
Leon Janse van Rensburg, M.Phil. Human Resource Development, Lecturer, University of Johannesburg, South Africa
Chris Schachtebeck, M.Com. Business Management, Lecturer, University of Johannesburg, South Africa

Abstract. This study identifies and discovers best practices in entrepreneurship education from highly-ranked universities and business schools globally. The study has been qualitative in nature, utilizing semi-structured interviews with 23 respondents at 12 higher education institutions. The study has made use of non-probability sampling by means of a convenience sampling approach. Data has been analyzed by means of thematic analysis. Results indicate that best practices in entrepreneurship education include little to no specialization at undergraduate level, with a strong preference for generic and widely applicable entrepreneurship modules. Individual entrepreneurship-related modules contain distinct individual themes. These modules are most commonly structured as electives, thereby allowing students to structure their courses according to areas of personal preference. At postgraduate level, it has been discovered that programs are often specialized in entrepreneurship and highly interdisciplinary in nature, most commonly with areas of specialization such as engineering and other sciences. Practical assignment and teaching tend to be favored in entrepreneurial teaching, rather than traditional classroom-based approaches. Entrepreneurship hubs and centers are mainly independent units loosely linked to a prominent university, with independent mandates and processes. The best practices identified in this study will assist universities and business schools to effectively structure entrepreneurship curriculums in line with global best practices.

Investigating the use of strategic management process in the mining industry

Dinko Herman Boikanyo, B.Sc., MBA, Ph.D. Graduand, North-West University in South Africa's Potchefstroom campus, South Africa
Ronnie Lotriet, D.Com., M.Com., Professor, Department of Economic and Management Sciences, NWU School of Business & Governance, North-West University, Potchefstroom Campus, South Africa
Pieter W Buys, Ph.D. in Accountancy, Ph.D. in Management Accountancy, M.Comm., MBA, CMA, Professor Department of Economic and Management Sciences, North-West University, Potchefstroom Campus, South Africa

Abstract. The objective of this study is to investigate the extent to which Strategic Management process is utilised within the mining industry. Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ascertain that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes, and assess and adjust the organization's direction in response to a changing environment. A typical strategy management process has the following steps: initial assessment, situation analysis, strategy formulation, strategy implementation, monitoring and evaluation. The other objective was to determine which analytical tools are commonly used for situational, internal and external assessment as input to the strategic management process. A structured questionnaire was used for the study. A total of 300 mines were randomly selected from a research population of mining organizations in South Africa, Africa and globally. The respondents were all part of senior management. A response rate of 64% was achieved. The results indicated that about 20% of the organizations did not institutionalize their strategic planning functions and did not have a good strategic foundation. The results also showed that 60% were not satisfied with their productivity and 30% indicated that their cash flows were not stable at all. There was a significant number of organizations who do not use strategic analytical tools. A statistically and practically significant positive relationship was found between Strategic Management dimensions and Business Performance implying that the use of strategic management process can lead to improved business performance.

Legal relations between participants in guarantee business in international trade

Aleksandar Lukic

Abstract. In modern business environment, which is characterized by the conquest of new markets and growing distrust among the participants in international trade, bank guarantees represent one of the safest security instruments, and without them, no important business deals could be carried out in international traffic. The widespread use of bank guarantees in international goods and payment transactions can be explained by increased volume and intensity of international trade, whereby relations between partners who previously didn't know each other and who are located throughout large geographic distances, are often established. The essence of this mechanism is in the fact that, with bank guarantee, the bank undertakes the obligation to pay a certain amount of money to the guarantee, who is the creditor in the basic contractual agreement, if the bank's client, who is the borrower from the main deal, doesn't fulfill his contractual obligations. In addition to that, the bank guarantee always arises from a complex set of legal and business relations involving at least three entities, and it is based upon three legal relations, each of them being autonomous and independent from the other, regardless of the fact that the set of these relations makes a single, indivisible economic-financial integrity. Due to the complexity of these relations and the importance that bank guarantee has as a mean of security in international trade, the subject of this paper will be the analysis of the legal relations among the participants in the guarantee business.

The role of perceived economic well being and conspicuous consumption in creating customer wealth

Pranay Verma, Footwear Design Development Institute, India

Abstract. Technology acceptance model (TAM) is a well documented field of study. At the aggregate level the impact of intention to use mobile phone based services is analyzed comprehensively but at an individual level it is not well documented. If we consider the user as a customer of mobile based services, consequence of intention to use mobile phone based services in creation of wealth for this customer has not been researched. Therefore in this paper we define the constructs of customer wealth and develop the conceptual model linking intention to use and customer wealth. After due diligence a twelve item questionnaire was floated to test the construct. Factor analysis was run on the data followed by a confirmatory analysis. Both the tests confirmed the customer wealth scale involving the role of perceived economic well being and conspicuous consumption.

The impact of competitive strategies on hotel performance. Case study of five-stars hotels Northern Cyprus (Kyrenia)

Blend Ibrahim, Ph.D., Department of Business Management, Faculty of Business & Economic, Girne American University, North Cyprus
Ahmad Al Jarrah, Ph.D., Department of Business Management, Faculty of Business & Economic, Girne American University, North Cyprus

Abstract. The main purpose of this article is to examine the impact of competitive advantage strategies on the performance of hotels. five and four stars hotels in TRNC have been taken as a case study. Three kinds of competitive strategies had been studied; cost leadership, differentiation, and focus strategy. A questionnaire has been designed for the study and data of 112 responses from executive managers, vice-managers and the head of all departments have been analyzed by using SPSS program. Our finding shows that: (a) the competitive strategies impact positively on the financial performance, (b) the competitive strategies impact positively on the non-financial performance.

International socially responsible funds: Financial performance and managerial skills during crisis and non-crisis markets

Kathrin Lesser, Center of Finance, University of Regensburg, Germany
Felix Rößle, Center of Finance, University of Regensburg, Germany
Christian Walkshäusl
, Center of Finance, University of Regensburg, Germany

Abstract. Nofsinger and Varma (2014) provide evidence that U.S. socially responsible funds outperform conventional funds during periods of market turmoil, and therefore grant some crisis insurance. To investigate whether the U.S.-based evidence can be transferred to international markets, we analyze a comprehensive sample of internationally-investing socially responsible equity funds in a period from 2000 to 2012. As abnormal returns are model-specific, we apply standard and q-theory based performance measurement models. At first glance, we observe no crisis protection for internationally-investing socially responsible funds. However, splitting our sample in funds domiciled in North America, Europe, and Asia-Pacific to account for biases due to the origin of a fund, we find that socially responsible funds from North America outperform their peers in crisis periods irrespective of the applied performance evaluation model. We suggest that the U.S.-based evidence is restricted to internationally-investing funds domiciled in North America, and discover that this outperformance seems to be owed to the stock-picking abilities of North American fund managers and their advantage due to the nature of the North American market.

Leadership aiming at innovation: suggesting and discussing four roles of an innovation leader

Daniel J. Adriaenssen, Research Fellow, Århus University, Dept. Psychology, Denmark
Jon-Arild Johannessen, Ph.D., Professor (Full), Kristiania University College, Norway and Nord University, Norway
Hugo Skålsvik, Associate Professor, Artic University (Tromsø), Norway

Abstract. Organizations often experience problems and challenges due to the development of rigid bureaucratic rules and procedures, which may represent obstacles to creativity and innovation. In a global knowledge economy, innovation is an important competitive parameter. Consequently, anything that may stimulate innovation in an organization's creative energy fields is valuable. This paper addresses one question: What management roles of an innovation leader may enhance the development of innovation in an organization's creative energy fields? Methodology used is conceptual generalization.
The article suggests, clarifies and discusses four roles of an innovation leader's that may have a positive impact on an organization's innovation performance in creative energy fields. The roles are conceptualised as "the innovation leader as an expert", "the innovation leader as a reputation builder", "the innovation leader as a relationship builder", and the "innovation leader as a creative change force". The article argues how these four roles are important in promoting innovation in organizations. By doing this, the article contributes to the extant knowledge on how four different roles of an innovation leader's may enhance an organization's innovation performance in creative energy fields.

Identifying the critical success factors of organization with Analytic Hierarchy Process approach (case study - Iran Argham Company)

Mohammad Mahdavi Mazdeh, Associate Professor, Department: Industrial Engineering, Iran University of Science & Technology, Iran
Gholam Hassan Pourhanifeh, MBA Graduate, Iran University of Science & Technology, Iran

Abstract. In today's challenging and complex world, organizations success depends on productivity, continuous improvement in all dimensions and reforming the pattern of resource utilization. Therefore, organizations, while considering restrictions, should focus on the more effective factors or so-called critical success factors. This paper intends to identify and prioritize the critical success factors, among other, factors influencing success of the organization, using hierarchical analysis and application of tools and related software. Analytic Hierarchy Process provides the possibility to compare the factors via creating matrix of paired comparisons. The case study in this research includes identifying the critical success factors and prioritizing them in Iran Argham Company. Finally, among the results presented, five critical success factors are identified from the forty influential factors. These five factors account for about seventy percent of the organization's success. It should be noted that most studies conducted in this area focuse on the certain processes and special systems rather than study on the organization as a whole unit. This model can also be generalized to all organizations, including SMEs, and would provide remarkably valuable approaches, especially in competitive markets.

Fight against administrative corruption within governmental organizations from motto to practice (case study: Ministry of Economic Affairs and Finance)

Samieh Darsareh, University of Tehran Kish International Campus, Kish, Iran
Mehrdad Bastanipour, University of Tehran Kish International Campus, Kish, Iran

Abstract. Administrative corruption in a simple definition is violation of a law for personal benefits by utilization of job position. It is a phenomenon within today's world, as one of the most important obstacles on the way of societies' progress. The impact of different factors in forming corruption has given it a complicated nature. Administrative corruption is a correlative issue and it is different according to value system of each society. This article is trying to present a solution in order to fight against administrative corruption through classification of staff with the help of explaining the relation of their perception, sensation and commitment towards corruption and corrupted situations. Present study in terms of purpose is developmental-practical, and in terms of execution and based upon research purposes is a survey. The study population is the staff of Ministry of Economic Affairs and Finance in 2015. In order to explain perception, sensation and the behavior of staff, the questionnaire of administrative corruption is designed in three dimensions: perceptive aspect (cognitive) which includes items for assessing the status of awareness and recognition of staff from instances and consequences of administrative corruption; sensation aspect which includes items for assessing the vision and tendencies of staff towards corruption, and behavioral aspect which is formed from items for assessing the behavior of staff in facing with corruptive situations. In order to identify the reasons of corruption two questionnaires of "National identity" and "Organizational culture" have been designed. The result of the research was that the perpetrators of corruption can be divided into three categories. First category is the staff that their perception is positive, it means that they have adequate cognition from manifestations and corruption consequences and their feeling about corruption is negative, it means that they consider it as an ominous phenomenon, but they are guilty of corruption. Second category is the staff that their perception is positive, they don't see corruption as an ominous phenomenon. Consequently, their feeling toward corruption is positive, and they perpetrate it. The third category is the staff whose perception is negative, their feeling is uncertain, and they perpetrate it. The behavior of these categories will be interpreted in form of related theories. The significant note is that despite the tendency average to practice administrative corruption among governmental staff is lower than assumed average and it indicates that there is a protection of corruption perpetration but the rank of our country is not favorable the International Organization report. This warning made the researchers to provide new solutions to help resolving this social issue by reviewing current solutions for prevention, and fighting against administrative corruption, regarding the richness of evaluating system in Iran.

Evaluating the effect of accruals quality, investments anomaly and quality of risk on risk premium (return) of stock of listed companies in Tehran Stock Exchange

Seyed Kazem Ebrahimi, Assistant Professor in Department of Accounting, Economics, Management and Administrative Sciences, Semnan University, Semnan, Iran
Ali Bahrami Nasab, Accounting Teacher of Department of Accounting, Economics, Management and Administrative Sciences, Semnan University, Semnan, Iran
Mehdi Karim, Accounting Student of Master Degree in Department of Accounting, Economics, Management and Administrative Sciences, Semnan University, Semnan, Iran

Abstract. Nowadays reaching to economic goals in any society requires public participation, which is only the result of people participation. Investment in stock market is one of people participation methods. So awareness from stock return and its affecting factors is one of anxieties of investors and owners of shares. In this research we evaluated the effective factors on stock return using Fama and French models. So we studied the effect of some factors including accruals quality, anomalies of investments, size factor, market's risk premium factor, and book equity to market equity factor, on stock's risk premium which is representative of stock returns, in 70 listed companies in Tehran stock exchange from 20 March 2003 to 20 March 2014.Results showed that accruals quality and quality of risk had meaningful effect on risk premium, which is representative of stock returns. Results also showed that investment anomaly has no meaningful effect on risk premium and consequently on stock returns.