Forecasting the exchange rate in South Africa : a comparative analysis challenging the random walk model
- Botha, Ilsé, Pretorius, Marinda
- Authors: Botha, Ilsé , Pretorius, Marinda
- Date: 2009
- Subjects: Foreign exchange rates - South Africa - Forecasting
- Type: Article
- Identifier: uj:5526 , ISSN 1993-8233 , http://hdl.handle.net/10210/13933
- Description: Literature shows that exchange rates are largely unpredictable, and that a simple random walk outperforms structural exchange rate models. In order to determine whether fundamentals explain exchange rate behaviour in South Africa, the two approaches to exchange rate forecasting - the technical and fundamental approach - will be compared. Various univariate time series models, including the random walk model, will be compared to various multivariate time series models (using the MAD/mean ratio), combining the two approaches. The determinants of the South African exchange rate are identified, and these determinants are used to specify multivariate time series models for the South African exchange rate. The multivariate models (VARMA) outperformed the univariate models (except for the Random walk model) in the short-run forecasts, one step ahead, while the multivariate models, performed better in the longer-run forecasts. To improve the accuracy of especially the multivariate models, it is recommended that multiple frequencies be used to capture the dynamic behaviour between variables in a Structural VAR framework.
- Full Text:
- Authors: Botha, Ilsé , Pretorius, Marinda
- Date: 2009
- Subjects: Foreign exchange rates - South Africa - Forecasting
- Type: Article
- Identifier: uj:5526 , ISSN 1993-8233 , http://hdl.handle.net/10210/13933
- Description: Literature shows that exchange rates are largely unpredictable, and that a simple random walk outperforms structural exchange rate models. In order to determine whether fundamentals explain exchange rate behaviour in South Africa, the two approaches to exchange rate forecasting - the technical and fundamental approach - will be compared. Various univariate time series models, including the random walk model, will be compared to various multivariate time series models (using the MAD/mean ratio), combining the two approaches. The determinants of the South African exchange rate are identified, and these determinants are used to specify multivariate time series models for the South African exchange rate. The multivariate models (VARMA) outperformed the univariate models (except for the Random walk model) in the short-run forecasts, one step ahead, while the multivariate models, performed better in the longer-run forecasts. To improve the accuracy of especially the multivariate models, it is recommended that multiple frequencies be used to capture the dynamic behaviour between variables in a Structural VAR framework.
- Full Text:
An exploratory study of problems facing small contractors in the North West province of South Africa
- Thwala, Wellington Didibhuku, Phaladi, Makgati Jacob
- Authors: Thwala, Wellington Didibhuku , Phaladi, Makgati Jacob
- Date: 2009-10
- Subjects: Small contractors , Small contractor development programme
- Type: Article
- Identifier: uj:5316 , ISSN 1993-8233 , http://hdl.handle.net/10210/7825
- Description: The main objective of this study was to examine the problems that are facing small contractors in the North West Province of South Africa. In undertaking the study a comprehensive literature review was conducted and it was supplemented by primary data gathering. A questionnaire was sent to over 100 contractors in the North West Province and 57 questionnaires were returned. The major findings of the research were that the problems facing small contractors were the following; Government not paying on time, lack of capital and difficulty in arranging guarantees, lack of technical skills, lack of business management skills. The importance of small contractors in South Africa has been recognised by many researchers and policy makers. The contribution of small contractors to the creation of jobs and to the alleviation of poverty has been recognised by many Governments in the Developing Countries including the South African Government. The aim of the study was to examine the problems facing contractors in South Africa focusing on the North West Province. The study made recommendations for a success small contractor development programme.
- Full Text:
An exploratory study of problems facing small contractors in the North West province of South Africa
- Authors: Thwala, Wellington Didibhuku , Phaladi, Makgati Jacob
- Date: 2009-10
- Subjects: Small contractors , Small contractor development programme
- Type: Article
- Identifier: uj:5316 , ISSN 1993-8233 , http://hdl.handle.net/10210/7825
- Description: The main objective of this study was to examine the problems that are facing small contractors in the North West Province of South Africa. In undertaking the study a comprehensive literature review was conducted and it was supplemented by primary data gathering. A questionnaire was sent to over 100 contractors in the North West Province and 57 questionnaires were returned. The major findings of the research were that the problems facing small contractors were the following; Government not paying on time, lack of capital and difficulty in arranging guarantees, lack of technical skills, lack of business management skills. The importance of small contractors in South Africa has been recognised by many researchers and policy makers. The contribution of small contractors to the creation of jobs and to the alleviation of poverty has been recognised by many Governments in the Developing Countries including the South African Government. The aim of the study was to examine the problems facing contractors in South Africa focusing on the North West Province. The study made recommendations for a success small contractor development programme.
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A strategic reposition of the maritime industry for economic recovery and sustainability : “The Cabotage Act”.
- Lazarus, Okoroji, Ukpere, Wilfred Isioma
- Authors: Lazarus, Okoroji , Ukpere, Wilfred Isioma
- Date: 2011
- Subjects: Cabotage Act, 2003 , Maritime industry - Nigeria , Transportation and shipping - Nigeria , Nigeria - Economy
- Type: Article
- Identifier: uj:5863 , ISSN 1993-8233 , http://hdl.handle.net/10210/7960
- Description: The Cabotage Law came into force in April, 2004 (Cabotage Act, 2003) aimed at reserving the costal shipping for Nigeria nationals. In essence, the system of maintaining domestic shipping industry is being regulated by the Cabotage Law. This involves the merchant fleet, and the protection of the environment and bio-diversity. The study is of the view that if the Cabotage Law is properly implemented; Nigeria will be able to maintain jobs and skills in an industry that is vital to its future. Lack of knowledge about the maritime sector could be the basis for the very poor response that it has generated from investing public. The oceans are as old as the maritime trade and dates back to the beginning of recorded time. Nigeria can only negate the development of its maritime potentials at its own peril especially taken into consideration here expensive maritime resource.
- Full Text:
- Authors: Lazarus, Okoroji , Ukpere, Wilfred Isioma
- Date: 2011
- Subjects: Cabotage Act, 2003 , Maritime industry - Nigeria , Transportation and shipping - Nigeria , Nigeria - Economy
- Type: Article
- Identifier: uj:5863 , ISSN 1993-8233 , http://hdl.handle.net/10210/7960
- Description: The Cabotage Law came into force in April, 2004 (Cabotage Act, 2003) aimed at reserving the costal shipping for Nigeria nationals. In essence, the system of maintaining domestic shipping industry is being regulated by the Cabotage Law. This involves the merchant fleet, and the protection of the environment and bio-diversity. The study is of the view that if the Cabotage Law is properly implemented; Nigeria will be able to maintain jobs and skills in an industry that is vital to its future. Lack of knowledge about the maritime sector could be the basis for the very poor response that it has generated from investing public. The oceans are as old as the maritime trade and dates back to the beginning of recorded time. Nigeria can only negate the development of its maritime potentials at its own peril especially taken into consideration here expensive maritime resource.
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Academic staff and employment equity profile in Business Management departments at universities in South Africa
- Authors: Nieuwenhuizen, Cecile
- Date: 2011
- Subjects: Academic staff , Employment equity , Business Management departments
- Type: Article
- Identifier: uj:5888 , ISSN 1993-8233 , http://hdl.handle.net/10210/8004
- Description: This article is a report on an attempt to determine the composition of academic staff of Business Management departments at South African universities. The objective was to determine the qualifications, level of employment and ranks filled by academics from the designated groups (black, coloured and Indian) and whites. Business Management and related departments from 13 universities representing 136 academics participated in the study. The findings indicate that academics from all the designated groups combined, constitute only 40%, as opposed to 60% whites, which indicates a shortage of academics from the former group. Thirty one per cent of all academic staff in Business Management have doctorates, and of these, 2% are from the combined designated groups and 29% from the white group. Ranked academics from the designated groups are in the minority: 31% are senior lecturers, 11% are associate professors and 7% are professors. The majority, which is 57%, of academics in business management are male and 43% are female. Representation of females from the designated groups is the lowest at 14%, with white males the highest at 31%. The results indicate that in the senior ranks, the number of academics from the designated groups, especially females, are far below employment equity expectations.
- Full Text:
- Authors: Nieuwenhuizen, Cecile
- Date: 2011
- Subjects: Academic staff , Employment equity , Business Management departments
- Type: Article
- Identifier: uj:5888 , ISSN 1993-8233 , http://hdl.handle.net/10210/8004
- Description: This article is a report on an attempt to determine the composition of academic staff of Business Management departments at South African universities. The objective was to determine the qualifications, level of employment and ranks filled by academics from the designated groups (black, coloured and Indian) and whites. Business Management and related departments from 13 universities representing 136 academics participated in the study. The findings indicate that academics from all the designated groups combined, constitute only 40%, as opposed to 60% whites, which indicates a shortage of academics from the former group. Thirty one per cent of all academic staff in Business Management have doctorates, and of these, 2% are from the combined designated groups and 29% from the white group. Ranked academics from the designated groups are in the minority: 31% are senior lecturers, 11% are associate professors and 7% are professors. The majority, which is 57%, of academics in business management are male and 43% are female. Representation of females from the designated groups is the lowest at 14%, with white males the highest at 31%. The results indicate that in the senior ranks, the number of academics from the designated groups, especially females, are far below employment equity expectations.
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Credit and thrift co-operatives in Nigeria : a potential source of capital formation and employment
- Otto, Godly, Ukpere, Wilfred
- Authors: Otto, Godly , Ukpere, Wilfred
- Date: 2011
- Subjects: Thrift and credit societies - Nigeria , Savings co-operatives - Nigeria , Investment capital - Nigeria , Employment - Nigeria
- Type: Article
- Identifier: uj:5896 , ISSN 1993-8233 , http://hdl.handle.net/10210/8015
- Description: Unemployment is a major challenge in Nigeria and many other developing countries. There is unemployment among professionals and non-professionals alike, there is unemployment among young school graduates, experienced professionals, tradesmen, and non-skilled workers in Nigeria. The consequences of unemployment in Nigeria are grave and may be classified as social and private. They include increase in crime rates, loss of potential output, poverty, and loss of potential tax revenue due government, professional studentship and family instability. In Nigeria, as in some other developing countries, job losses by households’ heads have negatively affected some homes, leading to family disintegration. Unemployment can explain the rising trends of female headed households in Nigeria. One major source of unemployment in Nigeria is insufficient capital for investments. The Harrod-Domar (neo-classical) theory encourages savings as a source of capital formation for investments with the consequent employment generation. This work identifies co-operative credits and thrift associations as a veritable source of capital formation which is required for investment purposes. The thrift cooperative as a micro finance agency is also a direct source of employment for those engaged in its management or coordination.
- Full Text:
- Authors: Otto, Godly , Ukpere, Wilfred
- Date: 2011
- Subjects: Thrift and credit societies - Nigeria , Savings co-operatives - Nigeria , Investment capital - Nigeria , Employment - Nigeria
- Type: Article
- Identifier: uj:5896 , ISSN 1993-8233 , http://hdl.handle.net/10210/8015
- Description: Unemployment is a major challenge in Nigeria and many other developing countries. There is unemployment among professionals and non-professionals alike, there is unemployment among young school graduates, experienced professionals, tradesmen, and non-skilled workers in Nigeria. The consequences of unemployment in Nigeria are grave and may be classified as social and private. They include increase in crime rates, loss of potential output, poverty, and loss of potential tax revenue due government, professional studentship and family instability. In Nigeria, as in some other developing countries, job losses by households’ heads have negatively affected some homes, leading to family disintegration. Unemployment can explain the rising trends of female headed households in Nigeria. One major source of unemployment in Nigeria is insufficient capital for investments. The Harrod-Domar (neo-classical) theory encourages savings as a source of capital formation for investments with the consequent employment generation. This work identifies co-operative credits and thrift associations as a veritable source of capital formation which is required for investment purposes. The thrift cooperative as a micro finance agency is also a direct source of employment for those engaged in its management or coordination.
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Credit extension in South Africa : a business cycle perspective for the period 1985 to 2009
- Fourie, Leila, Botha, Ilsé, Mears, Ronald
- Authors: Fourie, Leila , Botha, Ilsé , Mears, Ronald
- Date: 2011
- Subjects: Procyclicality , Cointegration , Structural vector autoregression (SVAR) , Vector autoregression (VAR) , Macroeconomic business cycle , Bank-granted credit
- Type: Article
- Identifier: uj:5814 , ISSN 1993-8233 , http://hdl.handle.net/10210/7822
- Description: This paper investigates and quantifies the relationship between the macroeconomic business cycle and bank-granted credit in South Africa for the period 1985 to 2009. The main question that this research seeks to answer is what role do banks play in amplifying the business cycle and what is the impact of this on the macroeconomy? The outcomes of the econometric model support the hypothesis that a positive relationship exists between bank-extended credit and the business cycle. The vector autoregression technique was used to prove the relationship between credit and the underlying cycle. The analysis shows that a two-way relationship exists between credit and the coincident indicator, credit and insolvencies and credit and prime. Results from the vector error correction model show a significant short-run relationship of equilibrium in the cointegrating equation between credit and the coincident indicator. This corroborates the underlying theory that credit is a unifying variable that rapidly responds to shocks emanating from the dynamic interaction of cointegrating variables in the economy.
- Full Text:
- Authors: Fourie, Leila , Botha, Ilsé , Mears, Ronald
- Date: 2011
- Subjects: Procyclicality , Cointegration , Structural vector autoregression (SVAR) , Vector autoregression (VAR) , Macroeconomic business cycle , Bank-granted credit
- Type: Article
- Identifier: uj:5814 , ISSN 1993-8233 , http://hdl.handle.net/10210/7822
- Description: This paper investigates and quantifies the relationship between the macroeconomic business cycle and bank-granted credit in South Africa for the period 1985 to 2009. The main question that this research seeks to answer is what role do banks play in amplifying the business cycle and what is the impact of this on the macroeconomy? The outcomes of the econometric model support the hypothesis that a positive relationship exists between bank-extended credit and the business cycle. The vector autoregression technique was used to prove the relationship between credit and the underlying cycle. The analysis shows that a two-way relationship exists between credit and the coincident indicator, credit and insolvencies and credit and prime. Results from the vector error correction model show a significant short-run relationship of equilibrium in the cointegrating equation between credit and the coincident indicator. This corroborates the underlying theory that credit is a unifying variable that rapidly responds to shocks emanating from the dynamic interaction of cointegrating variables in the economy.
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Customer retention through customer relationship management : the exploration of two-way communication and conflict handling
- Authors: Roberts-Lombard, Mornay
- Date: 2011
- Subjects: Customer relationship management , CRM , Conflict management , Customer retention , Two-way communication , Short-term insurance industry - South Africa
- Type: Article
- Identifier: uj:5866 , ISSN 1993-8233 , http://hdl.handle.net/10210/7963
- Description: Organisations such as banks and short-term insurance organisations become more aware of the importance of customer relationship management (CRM) and its potential to help them acquire new customers, retain existing ones and maximise their lifetime value. A close relationship with customers will require a strong coordination between information technology (IT) and marketing departments to provide a long-term retention of selected customers. The primary objective of this study is to investigate the influence of selected independent variables, two-way communication and conflict handling on intentional customer loyalty via CRM as the intervening variable at a South African shortterm insurance organisation. Primary data were gathered using a questionnaire, with items referring to CRM, customer loyalty, two-way communication and conflict handling. The sample consisted of 254 customers in four major centres in South Africa. Data were factor-analysed. One independent variable, conflict handling exerted a statistically significant positive influence on the intervening variable (CRM), while two-way communication exerted a statistically significant negative influence on the intervening variable (CRM). The intervening variable (CRM) positively influenced the dependent variable (Customer Loyalty). If short-term insurance organisations communicate timeously and accurately, and are skilled in conflict handling, greater loyalty will be created among customers.
- Full Text:
- Authors: Roberts-Lombard, Mornay
- Date: 2011
- Subjects: Customer relationship management , CRM , Conflict management , Customer retention , Two-way communication , Short-term insurance industry - South Africa
- Type: Article
- Identifier: uj:5866 , ISSN 1993-8233 , http://hdl.handle.net/10210/7963
- Description: Organisations such as banks and short-term insurance organisations become more aware of the importance of customer relationship management (CRM) and its potential to help them acquire new customers, retain existing ones and maximise their lifetime value. A close relationship with customers will require a strong coordination between information technology (IT) and marketing departments to provide a long-term retention of selected customers. The primary objective of this study is to investigate the influence of selected independent variables, two-way communication and conflict handling on intentional customer loyalty via CRM as the intervening variable at a South African shortterm insurance organisation. Primary data were gathered using a questionnaire, with items referring to CRM, customer loyalty, two-way communication and conflict handling. The sample consisted of 254 customers in four major centres in South Africa. Data were factor-analysed. One independent variable, conflict handling exerted a statistically significant positive influence on the intervening variable (CRM), while two-way communication exerted a statistically significant negative influence on the intervening variable (CRM). The intervening variable (CRM) positively influenced the dependent variable (Customer Loyalty). If short-term insurance organisations communicate timeously and accurately, and are skilled in conflict handling, greater loyalty will be created among customers.
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Globalisation and the challenges of unemployment, income inequality and poverty in Africa
- Authors: Ukpere, Wilfred I.
- Date: 2011
- Subjects: Globalisation - Africa , Unemployment - Africa , Income inequality - Africa , Poverty - Africa
- Type: Article
- Identifier: uj:5906 , ISSN 1993-8233 , http://hdl.handle.net/10210/8025
- Description: There is an urgent need to re-investigate the functional relationship between globalisation, unemployment, income inequality and poverty in Africa. Unemployment accelerates the level of income inequality and poverty within a given society. In spite of the beautiful slogans associated with it, the current globalisation seems to have aggravated the problem of unemployment, the corollary of which is endemic income inequality and mass poverty in Africa. In fact, the trickle down economy pattern has consistently failed Africa. What is good for Wall Street may not necessarily be good for Africa. Viewed from any angle, the African continent seems to have been marginalised and left behind by globalisation. Capitalist globalisation undeniably, created wealth but also intensified inequality and poverty, particularly in Africa. High growth rate of Gross domestic product (GDP) may be a good statistics to parade at international conferences and seminars. However, for the hungry jobless youths in the streets, these are meaningless numbers since they do not translate into job creation or cure their hunger. Therefore, it is high time that African nations look beyond the official statistics of the so called high GDP growth rate and get down to the hard business of creating real jobs that take out the hungry, angry and jobless youths from the streets into workplaces. African countries need to develop comprehensive strategies to create jobs locally. In this paper, the current author posits that there is a strong linkage between globalisation, unemployment, income inequality and poverty in Africa. Some mechanisms were proffered to overcome these bottlenecks.
- Full Text:
- Authors: Ukpere, Wilfred I.
- Date: 2011
- Subjects: Globalisation - Africa , Unemployment - Africa , Income inequality - Africa , Poverty - Africa
- Type: Article
- Identifier: uj:5906 , ISSN 1993-8233 , http://hdl.handle.net/10210/8025
- Description: There is an urgent need to re-investigate the functional relationship between globalisation, unemployment, income inequality and poverty in Africa. Unemployment accelerates the level of income inequality and poverty within a given society. In spite of the beautiful slogans associated with it, the current globalisation seems to have aggravated the problem of unemployment, the corollary of which is endemic income inequality and mass poverty in Africa. In fact, the trickle down economy pattern has consistently failed Africa. What is good for Wall Street may not necessarily be good for Africa. Viewed from any angle, the African continent seems to have been marginalised and left behind by globalisation. Capitalist globalisation undeniably, created wealth but also intensified inequality and poverty, particularly in Africa. High growth rate of Gross domestic product (GDP) may be a good statistics to parade at international conferences and seminars. However, for the hungry jobless youths in the streets, these are meaningless numbers since they do not translate into job creation or cure their hunger. Therefore, it is high time that African nations look beyond the official statistics of the so called high GDP growth rate and get down to the hard business of creating real jobs that take out the hungry, angry and jobless youths from the streets into workplaces. African countries need to develop comprehensive strategies to create jobs locally. In this paper, the current author posits that there is a strong linkage between globalisation, unemployment, income inequality and poverty in Africa. Some mechanisms were proffered to overcome these bottlenecks.
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Knowledge management as a strategic management tool at a South African enterprise.
- Du Toit, Adeline, Steyn, Piet
- Authors: Du Toit, Adeline , Steyn, Piet
- Date: 2011
- Subjects: Knowledge management , Strategic management , Technology-oriented enterprises - South Africa
- Type: Article
- Identifier: uj:5848 , ISSN 1993-8233 , http://hdl.handle.net/10210/7935
- Description: The primary aim of this article was to explore the role of a knowledge management strategy to achieve a South African technology-oriented enterprise’s business strategy. The linking between knowledge management and the business strategy was viewed as the crux for successful knowledge management in any enterprise. Knowledge plays a crucial role in the competitive nature of enterprises and hence constitutes a critical component of enterprise strategy. The purpose of the empirical survey was to determine the relationship between the knowledge management function and the business strategy at the enterprise. A questionnaire survey was conducted and 355 employees were randomly selected to form the sample. The majority of the respondents were of the opinion that knowledge management plays an important role in the enterprise’s strategies, policies and practices. When implementing a knowledge management strategy, the prioritisation of knowledge management activities, as well as their integration with other business processes, should be an important management focus area and steps for the successful implementation of a knowledge management strategy were recommended.
- Full Text:
- Authors: Du Toit, Adeline , Steyn, Piet
- Date: 2011
- Subjects: Knowledge management , Strategic management , Technology-oriented enterprises - South Africa
- Type: Article
- Identifier: uj:5848 , ISSN 1993-8233 , http://hdl.handle.net/10210/7935
- Description: The primary aim of this article was to explore the role of a knowledge management strategy to achieve a South African technology-oriented enterprise’s business strategy. The linking between knowledge management and the business strategy was viewed as the crux for successful knowledge management in any enterprise. Knowledge plays a crucial role in the competitive nature of enterprises and hence constitutes a critical component of enterprise strategy. The purpose of the empirical survey was to determine the relationship between the knowledge management function and the business strategy at the enterprise. A questionnaire survey was conducted and 355 employees were randomly selected to form the sample. The majority of the respondents were of the opinion that knowledge management plays an important role in the enterprise’s strategies, policies and practices. When implementing a knowledge management strategy, the prioritisation of knowledge management activities, as well as their integration with other business processes, should be an important management focus area and steps for the successful implementation of a knowledge management strategy were recommended.
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Market segmentation and the changing South African hotel industry (1990 to 2010)
- Authors: Rogerson, J.M. , Kotze, N.
- Date: 2011
- Subjects: Hotels , Tourism , Market segmentation
- Type: Article
- Identifier: uj:5844 , ISSN 1993-8233 , http://hdl.handle.net/10210/7899
- Description: Market segmentation is an expanding focus in tourism scholarship. Only limited application of this concept has been undertaken to interpret hotel business development, especially in sub-Saharan Africa. This article shows that in South Africa, one of Africa’s leading tourism destinations, market segmentation has been a distinguishing feature of the country’s hotel sector especially over the past 20 years. It is argued that as post-apartheid South Africa shed its international pariah status and emerged as a new destination in the international tourism economy, the national tourism industry experienced a phase of considerable restructuring. The growth and subsequent acceleration of market segmentation in South Africa’s hotel industry is one outcome of the country’s reintegration into the global tourism economy which facilitated a range of new upgrading opportunities for business development and property investment.
- Full Text:
- Authors: Rogerson, J.M. , Kotze, N.
- Date: 2011
- Subjects: Hotels , Tourism , Market segmentation
- Type: Article
- Identifier: uj:5844 , ISSN 1993-8233 , http://hdl.handle.net/10210/7899
- Description: Market segmentation is an expanding focus in tourism scholarship. Only limited application of this concept has been undertaken to interpret hotel business development, especially in sub-Saharan Africa. This article shows that in South Africa, one of Africa’s leading tourism destinations, market segmentation has been a distinguishing feature of the country’s hotel sector especially over the past 20 years. It is argued that as post-apartheid South Africa shed its international pariah status and emerged as a new destination in the international tourism economy, the national tourism industry experienced a phase of considerable restructuring. The growth and subsequent acceleration of market segmentation in South Africa’s hotel industry is one outcome of the country’s reintegration into the global tourism economy which facilitated a range of new upgrading opportunities for business development and property investment.
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Measuring the attitude and intention to purchase different cohorts towards a fast food retailer
- Madiba, Glen, Roberts-Lombard, Mornay
- Authors: Madiba, Glen , Roberts-Lombard, Mornay
- Date: 2011
- Subjects: Fast food retail outlets - South Africa - Johannesburg - Marketing , Extended marketing mix , Market surveys , Customers attitudes
- Type: Article
- Identifier: uj:5867 , ISSN 1993-8233 , http://hdl.handle.net/10210/7964
- Description: The elements of the extended marketing mix play a crucial role in assisting a business to gain a competitive advantage over competitors. A combination of the elements of the extended marketing mix is considered by consumers when making a decision to purchase at a fast-food outlet. The article attempts to emphasise whether race, gender and age groups experience the influence of the extended marketing mix elements differently on their intention to purchase at a fast-food retailer. The target population for this study included all visitors to a fast food retail brand in the greater Johannesburg Metropolitan region in Gauteng from which a convenience sample of 209 was selected. Respondents participated through personal interviews in the completion of questionnaires. The Independent sample T-test and the Pearson chi-square test was used to determine whether significant differences exist between the responses of the different gender and age groups in the study. The study established that there is a difference in the relationship between the elements of the extended marketing mix and consumers’ intention to purchase from a KFC fast food retailer based on race, gender and age. These differences require consideration by KFC fast food retail management to ensure that their marketing strategy encompasses biographical variables such as race, gender and age. This will ensure that the needs of the target market are addressed according to these biographical variables, resulting in increased customer satisfaction and market share growth.
- Full Text:
- Authors: Madiba, Glen , Roberts-Lombard, Mornay
- Date: 2011
- Subjects: Fast food retail outlets - South Africa - Johannesburg - Marketing , Extended marketing mix , Market surveys , Customers attitudes
- Type: Article
- Identifier: uj:5867 , ISSN 1993-8233 , http://hdl.handle.net/10210/7964
- Description: The elements of the extended marketing mix play a crucial role in assisting a business to gain a competitive advantage over competitors. A combination of the elements of the extended marketing mix is considered by consumers when making a decision to purchase at a fast-food outlet. The article attempts to emphasise whether race, gender and age groups experience the influence of the extended marketing mix elements differently on their intention to purchase at a fast-food retailer. The target population for this study included all visitors to a fast food retail brand in the greater Johannesburg Metropolitan region in Gauteng from which a convenience sample of 209 was selected. Respondents participated through personal interviews in the completion of questionnaires. The Independent sample T-test and the Pearson chi-square test was used to determine whether significant differences exist between the responses of the different gender and age groups in the study. The study established that there is a difference in the relationship between the elements of the extended marketing mix and consumers’ intention to purchase from a KFC fast food retailer based on race, gender and age. These differences require consideration by KFC fast food retail management to ensure that their marketing strategy encompasses biographical variables such as race, gender and age. This will ensure that the needs of the target market are addressed according to these biographical variables, resulting in increased customer satisfaction and market share growth.
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Mining enterprise and partnerships for socio-economic development
- Authors: Rogerson, C. M.
- Date: 2011
- Subjects: Mining industry , Partnerships , Socio-economic development - Sub-Saharan Africa
- Type: Article
- Identifier: uj:5900 , ISSN 1993-8233 , http://hdl.handle.net/10210/8019
- Description: Partnerships are emerging as important for the business operations of mining enterprises in many parts of the world, particularly in the global South. During 2010, the London-based International Council on Mining and Minerals launched a global initiative which is geared to strengthen the contribution of mining to development goals and poverty reduction by promoting multi-stakeholder partnerships. The purpose of this article is to furnish a critical review of relevant international experience of partnerships between mining companies and governments. These partnerships are considered to represent innovative cooperation models for economic development (especially diversification) and service delivery. It is argued that whilst partnerships represent an aspect of good business practice for mining enterprises, partnerships are not a panacea and in certain situations may not be an appropriate model for delivering results. In light of the significance of socio-economic development in sub-Saharan Africa, and of the potential for expansion of mining activities, further research is required concerning the operations of mining enterprises and partnerships in this region of the global economy.
- Full Text:
- Authors: Rogerson, C. M.
- Date: 2011
- Subjects: Mining industry , Partnerships , Socio-economic development - Sub-Saharan Africa
- Type: Article
- Identifier: uj:5900 , ISSN 1993-8233 , http://hdl.handle.net/10210/8019
- Description: Partnerships are emerging as important for the business operations of mining enterprises in many parts of the world, particularly in the global South. During 2010, the London-based International Council on Mining and Minerals launched a global initiative which is geared to strengthen the contribution of mining to development goals and poverty reduction by promoting multi-stakeholder partnerships. The purpose of this article is to furnish a critical review of relevant international experience of partnerships between mining companies and governments. These partnerships are considered to represent innovative cooperation models for economic development (especially diversification) and service delivery. It is argued that whilst partnerships represent an aspect of good business practice for mining enterprises, partnerships are not a panacea and in certain situations may not be an appropriate model for delivering results. In light of the significance of socio-economic development in sub-Saharan Africa, and of the potential for expansion of mining activities, further research is required concerning the operations of mining enterprises and partnerships in this region of the global economy.
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The customer market practices of the travel agency industry in the Gauteng Province of South Africa
- Authors: Roberts-Lombard, M.
- Date: 2011
- Subjects: Relationship marketing , Customer relations , Travel agencies (Gauteng, South Africa)
- Type: Article
- Identifier: uj:5725 , ISSN 1993-8233 , http://hdl.handle.net/10210/5268
- Description: Relationship marketing stresses the importance of continuous interaction between the seller and the buyer in order to cultivate a long-term, mutually beneficial relationship. High interest rates, increasing prices of basic goods and services and a weakening rand has reduced consumer spending on domestic and international travel. Therefore, there is continued pressure on South African travel suppliers to review their current relationship marketing practices to secure customer retention in a competitive and volatile travel market. The purpose of the article is to indicate the current status of the customer market practices of the travel agency industry in Gauteng, and to provide recommendations to the management of travel agencies in the province regarding the improved application of the principles of relationship marketing. The target population for this study was 280 travel agencies of which 170 managers and/or owners participated through personal interviews in the completion of questionnaires. The findings of the study indicate that the owners and managers of travel agencies must create an environment which is more accessible for the critical interaction with customers. The loyalty of customers can be increased when customers are provided with the opportunity to share their experiences and comments with the travel agency in an interactive manner.
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- Authors: Roberts-Lombard, M.
- Date: 2011
- Subjects: Relationship marketing , Customer relations , Travel agencies (Gauteng, South Africa)
- Type: Article
- Identifier: uj:5725 , ISSN 1993-8233 , http://hdl.handle.net/10210/5268
- Description: Relationship marketing stresses the importance of continuous interaction between the seller and the buyer in order to cultivate a long-term, mutually beneficial relationship. High interest rates, increasing prices of basic goods and services and a weakening rand has reduced consumer spending on domestic and international travel. Therefore, there is continued pressure on South African travel suppliers to review their current relationship marketing practices to secure customer retention in a competitive and volatile travel market. The purpose of the article is to indicate the current status of the customer market practices of the travel agency industry in Gauteng, and to provide recommendations to the management of travel agencies in the province regarding the improved application of the principles of relationship marketing. The target population for this study was 280 travel agencies of which 170 managers and/or owners participated through personal interviews in the completion of questionnaires. The findings of the study indicate that the owners and managers of travel agencies must create an environment which is more accessible for the critical interaction with customers. The loyalty of customers can be increased when customers are provided with the opportunity to share their experiences and comments with the travel agency in an interactive manner.
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The impact of globalisation on higher education : achieving a balance between local and global needs and realities.
- Meyer, Marius, Bushney, Melanie, Ukpere, Wilfred I.
- Authors: Meyer, Marius , Bushney, Melanie , Ukpere, Wilfred I.
- Date: 2011
- Subjects: Universities - South Africa , Globalisation and higher education , Global curriculum , International standards , Corporate universities , Local needs
- Type: Article
- Identifier: uj:5889 , ISSN 1993-8233 , http://hdl.handle.net/10210/8005
- Description: The business world has changed dramatically over the last decade to address the reality of globalisation in the sphere of business. However, most universities have remained intact as local universities servicing local needs of citizens studying at their closest universities. For instance, a small number of universities have managed to attract students from other provinces, countries and regions. The question arises: to what extent have universities in South Africa embraced to the reality of globalisation? Are higher education institutions preparing students to work globally, or do they still function as institutions operating with a local mindset for a local market? Although South African universities have been widely criticised for not producing graduates meeting the needs of the local economy, these institutions are now challenged to prepare students for global markets. Only one local university achieved a ranking in the top hundred universities in the world according to the latest international ranking of universities. This reality poses several challenges for universities, for example, globalising curriculum to meet global needs and realities, as well as sourcing more academics from different parts of the world to infuse a global focus in the development and delivery of a global curriculum. Similarly, local universities are expected to play a key role in the socio-economic transformation of South Africa, while being challenged to meet international standards. This dichotomy places severe strain on the resources of universities, of which many may not be ready to compete globally, especially in the light of the rapid growth of private higher education, and big business, resorting to corporate universities to meet their needs. This paper seeks to determine the impact of globalisation on higher education with specific recommendations for achieving a balance between global and local higher education needs and realities.
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- Authors: Meyer, Marius , Bushney, Melanie , Ukpere, Wilfred I.
- Date: 2011
- Subjects: Universities - South Africa , Globalisation and higher education , Global curriculum , International standards , Corporate universities , Local needs
- Type: Article
- Identifier: uj:5889 , ISSN 1993-8233 , http://hdl.handle.net/10210/8005
- Description: The business world has changed dramatically over the last decade to address the reality of globalisation in the sphere of business. However, most universities have remained intact as local universities servicing local needs of citizens studying at their closest universities. For instance, a small number of universities have managed to attract students from other provinces, countries and regions. The question arises: to what extent have universities in South Africa embraced to the reality of globalisation? Are higher education institutions preparing students to work globally, or do they still function as institutions operating with a local mindset for a local market? Although South African universities have been widely criticised for not producing graduates meeting the needs of the local economy, these institutions are now challenged to prepare students for global markets. Only one local university achieved a ranking in the top hundred universities in the world according to the latest international ranking of universities. This reality poses several challenges for universities, for example, globalising curriculum to meet global needs and realities, as well as sourcing more academics from different parts of the world to infuse a global focus in the development and delivery of a global curriculum. Similarly, local universities are expected to play a key role in the socio-economic transformation of South Africa, while being challenged to meet international standards. This dichotomy places severe strain on the resources of universities, of which many may not be ready to compete globally, especially in the light of the rapid growth of private higher education, and big business, resorting to corporate universities to meet their needs. This paper seeks to determine the impact of globalisation on higher education with specific recommendations for achieving a balance between global and local higher education needs and realities.
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Understanding service quality and patient satisfaction in private medical practice : a case study
- Peer, Mohammed, Mpinganjira, Mercy
- Authors: Peer, Mohammed , Mpinganjira, Mercy
- Date: 2011
- Subjects: Private medical care - South Africa - Johannesburg - Evaluation , Health services - South Africa - Johannesburg - Evaluation , Service quality , Patient satisfaction
- Type: Article
- Identifier: uj:5898 , ISSN 1993-8233 , http://hdl.handle.net/10210/8017
- Description: Understanding customers’ views on service quality is critical for any service provider interested in ensuring that they are being responsive to clients. Patients’ service quality perceptions are however often given little or no attention in health service quality improvement programs. In this study data was collected from 220 patients of a private medical practice. The focus was on patients’ service quality perceptions and how these relate to overall satisfaction as well as future behavioural intentions. The findings show that patients’ perceptions on service quality play a significant role in determining their overall satisfaction with a service provider and that patients’ overall satisfaction is critical in determining their future positive behavioural intentions towards a service provider. The implications of the findings are that there is need for patients’ voice to start playing a greater role in the design and evaluation of health care service improvement programs more so in private medical practices.
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- Authors: Peer, Mohammed , Mpinganjira, Mercy
- Date: 2011
- Subjects: Private medical care - South Africa - Johannesburg - Evaluation , Health services - South Africa - Johannesburg - Evaluation , Service quality , Patient satisfaction
- Type: Article
- Identifier: uj:5898 , ISSN 1993-8233 , http://hdl.handle.net/10210/8017
- Description: Understanding customers’ views on service quality is critical for any service provider interested in ensuring that they are being responsive to clients. Patients’ service quality perceptions are however often given little or no attention in health service quality improvement programs. In this study data was collected from 220 patients of a private medical practice. The focus was on patients’ service quality perceptions and how these relate to overall satisfaction as well as future behavioural intentions. The findings show that patients’ perceptions on service quality play a significant role in determining their overall satisfaction with a service provider and that patients’ overall satisfaction is critical in determining their future positive behavioural intentions towards a service provider. The implications of the findings are that there is need for patients’ voice to start playing a greater role in the design and evaluation of health care service improvement programs more so in private medical practices.
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An empirical investigation into difficulties associated with barter trading : a prac[ti]tioners’ perspective
- Oliver, Portia, Mpinganjira, Mercy
- Authors: Oliver, Portia , Mpinganjira, Mercy
- Date: 2011-02
- Subjects: Countertrade , Barter trade
- Type: Article
- Identifier: uj:5820 , ISSN 1993-8233 , http://hdl.handle.net/10210/7837
- Description: Difficult economic and business conditions experienced in many nations over the past few years have necessitated the need to look for different ways of ensuring business success. Many firms have found that one such way is through barter trading. This paper empirically investigates the difficulties firms face in barter trading. Data was collected from 61 barter practitioners in the media industry in South Africa. The findings show that there are many difficulties associated with barter trade but most of the difficulties relate to firms at organisational level. The findings also show that in general, the lower the level of firms’ pro-activeness in barter trading, the higher the level of difficulties perceived. From the results it can be concluded that most of the problems relating to barter trade are manageable at firm level. Organisations need to be certain that they have proper measures in place to ensure optimal use and management of barter trade. Knowledge of the potential difficulties associated with barter trade is essential as it can enable firms better anticipate and manage them so as not to have significant negative impact on the benefits anticipated.
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- Authors: Oliver, Portia , Mpinganjira, Mercy
- Date: 2011-02
- Subjects: Countertrade , Barter trade
- Type: Article
- Identifier: uj:5820 , ISSN 1993-8233 , http://hdl.handle.net/10210/7837
- Description: Difficult economic and business conditions experienced in many nations over the past few years have necessitated the need to look for different ways of ensuring business success. Many firms have found that one such way is through barter trading. This paper empirically investigates the difficulties firms face in barter trading. Data was collected from 61 barter practitioners in the media industry in South Africa. The findings show that there are many difficulties associated with barter trade but most of the difficulties relate to firms at organisational level. The findings also show that in general, the lower the level of firms’ pro-activeness in barter trading, the higher the level of difficulties perceived. From the results it can be concluded that most of the problems relating to barter trade are manageable at firm level. Organisations need to be certain that they have proper measures in place to ensure optimal use and management of barter trade. Knowledge of the potential difficulties associated with barter trade is essential as it can enable firms better anticipate and manage them so as not to have significant negative impact on the benefits anticipated.
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Herzberg! Can we trust you in Africa?
- Authors: Marnewick, Carl
- Date: 2011-02
- Subjects: Information technology , Project management , Motivation , Herzberg’s two-factor theory
- Type: Article
- Identifier: uj:5824 , ISSN 1993-8233 , http://hdl.handle.net/10210/7841
- Description: Information technology (IT) projects are implemented through individual team members. These projects are fairly long in duration, especially enterprise resource planning projects. The problem that IT project managers face is how to motivate the team members, particularly in an African context where a team consists of various cultures and races. This paper presents results of a quantitative research study in which team members were asked to rank their motivating factors on a scale of 1 to 12 based on Herzberg’s two-factor theory. The reason for using this theory is that, it was found to still be applicable after 50 years of its establishment. The purpose was to determine whether Herzberg’s two-factor theory is applicable in an African context and if so, what unique factors could motivate IT team members in Africa. The research indicates that race, age and gender are not indicators and that there is a general tendency that the motivating factors of Herzberg can be used to motivate team members. The implication is that IT project managers can use Herzberg’s two-factor theory to motivate individual team members. The research also adds to the current body of knowledge that Africans are not motivated by hygiene factors.
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- Authors: Marnewick, Carl
- Date: 2011-02
- Subjects: Information technology , Project management , Motivation , Herzberg’s two-factor theory
- Type: Article
- Identifier: uj:5824 , ISSN 1993-8233 , http://hdl.handle.net/10210/7841
- Description: Information technology (IT) projects are implemented through individual team members. These projects are fairly long in duration, especially enterprise resource planning projects. The problem that IT project managers face is how to motivate the team members, particularly in an African context where a team consists of various cultures and races. This paper presents results of a quantitative research study in which team members were asked to rank their motivating factors on a scale of 1 to 12 based on Herzberg’s two-factor theory. The reason for using this theory is that, it was found to still be applicable after 50 years of its establishment. The purpose was to determine whether Herzberg’s two-factor theory is applicable in an African context and if so, what unique factors could motivate IT team members in Africa. The research indicates that race, age and gender are not indicators and that there is a general tendency that the motivating factors of Herzberg can be used to motivate team members. The implication is that IT project managers can use Herzberg’s two-factor theory to motivate individual team members. The research also adds to the current body of knowledge that Africans are not motivated by hygiene factors.
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High performance organisation : a quantitative inquiry at a specific metropolitan municipality in the Gauteng province
- Molefe, G.N., Roodt, G., Schurink, W.J.
- Authors: Molefe, G.N. , Roodt, G. , Schurink, W.J.
- Date: 2011-02
- Subjects: High performance culture , World-class organization , Business excellence models , South African local government , Service delivery of municipalities , Tshwane Metropolitan Municipality
- Type: Article
- Identifier: uj:5783 , ISSN 1993-8233 , http://hdl.handle.net/10210/7790
- Description: Since the dawn of the new democracy in South Africa, the media has been fraught with episodes of dissatisfaction among stakeholders about the service delivery record of municipalities. The aim of this study is, therefore, to explore employees’ experiences and perceptions, particularly at the Tshwane Metropolitan Municipality, regarding the service delivery performance of this municipality. The study was particularly motivated by the apparent lack of a scientifically tested intellectual tool to assist municipalities in improving service provision to residents. A quantitative research design was adopted to ensure uniformity and consistency of the data gathering and analysis processes. To this end, a population of 800 participants was targeted and at least 474 participants responded, thus, registering a response rate of 59%. The main findings of this study was the High Performance Organisational Culture model applicable to local government, whose factors yielded Cronbach Alpha coefficients of between 0.703 and 0.964. The managerial implication of the results of the study is a potential to equip the decision makers in the municipal sector with an empirically tested tool to assist the municipalities to ascend to a high performance status and thus, improve the quality of life of residents. The study is poised to provide a useful framework for policy formulation on high performance in the municipal sector.
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- Authors: Molefe, G.N. , Roodt, G. , Schurink, W.J.
- Date: 2011-02
- Subjects: High performance culture , World-class organization , Business excellence models , South African local government , Service delivery of municipalities , Tshwane Metropolitan Municipality
- Type: Article
- Identifier: uj:5783 , ISSN 1993-8233 , http://hdl.handle.net/10210/7790
- Description: Since the dawn of the new democracy in South Africa, the media has been fraught with episodes of dissatisfaction among stakeholders about the service delivery record of municipalities. The aim of this study is, therefore, to explore employees’ experiences and perceptions, particularly at the Tshwane Metropolitan Municipality, regarding the service delivery performance of this municipality. The study was particularly motivated by the apparent lack of a scientifically tested intellectual tool to assist municipalities in improving service provision to residents. A quantitative research design was adopted to ensure uniformity and consistency of the data gathering and analysis processes. To this end, a population of 800 participants was targeted and at least 474 participants responded, thus, registering a response rate of 59%. The main findings of this study was the High Performance Organisational Culture model applicable to local government, whose factors yielded Cronbach Alpha coefficients of between 0.703 and 0.964. The managerial implication of the results of the study is a potential to equip the decision makers in the municipal sector with an empirically tested tool to assist the municipalities to ascend to a high performance status and thus, improve the quality of life of residents. The study is poised to provide a useful framework for policy formulation on high performance in the municipal sector.
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South African Industrial Conciliation Act of 1924 and current affirmative action : an analysis of labour economic history
- Jordaan, Charline, Ukpere, Wilfred I.
- Authors: Jordaan, Charline , Ukpere, Wilfred I.
- Date: 2011-02
- Subjects: Apartheid , Affirmative action , Industrial relations , Labour unions , South Africa. Industrial Conciliation Act, 1924
- Type: Article
- Identifier: uj:5818 , ISSN 1993-8233 , http://hdl.handle.net/10210/7834
- Description: This paper is directed towards making a comparison between the Industrial Conciliation Act (ICA) of 1924 and the current Affirmative Action (AA) in South Africa (SA), in order trace their respective impact to industrial relations in SA. First and foremost, it is necessary to give an overview of Industrial relations within the period of 1924 to 1948, and to identify three events that took place within that period and give a discussion of the events. Furthermore, the impact of those events on the labour legislation at that time, and its effect on the labour relationship will be analysed. Additionally, the different approaches used during these periods towards the labour relationship will be reviewed. Finally, an analysis will be made between Industrial Conciliation Act of 1924 and the current South African Affirmative Action.
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- Authors: Jordaan, Charline , Ukpere, Wilfred I.
- Date: 2011-02
- Subjects: Apartheid , Affirmative action , Industrial relations , Labour unions , South Africa. Industrial Conciliation Act, 1924
- Type: Article
- Identifier: uj:5818 , ISSN 1993-8233 , http://hdl.handle.net/10210/7834
- Description: This paper is directed towards making a comparison between the Industrial Conciliation Act (ICA) of 1924 and the current Affirmative Action (AA) in South Africa (SA), in order trace their respective impact to industrial relations in SA. First and foremost, it is necessary to give an overview of Industrial relations within the period of 1924 to 1948, and to identify three events that took place within that period and give a discussion of the events. Furthermore, the impact of those events on the labour legislation at that time, and its effect on the labour relationship will be analysed. Additionally, the different approaches used during these periods towards the labour relationship will be reviewed. Finally, an analysis will be made between Industrial Conciliation Act of 1924 and the current South African Affirmative Action.
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The effectiveness of the International Ship and Port Facility Security Code (ISPS) in Nigeria
- Okoroji, Lazarus I., Ukpere, Wilfred I.
- Authors: Okoroji, Lazarus I. , Ukpere, Wilfred I.
- Date: 2011-02
- Subjects: Convention on Safety of Life at Sea (SOLAS) , International Ship and Port Facility Security Code , Maritime security - Nigeria , Port security , Harbour security
- Type: Article
- Identifier: uj:5819 , ISSN 1993-8233 , http://hdl.handle.net/10210/7835
- Description: Over the years, acts of insecurity, lack of safety consciousness and threat of terrorism have pervaded the maritime landscape of the world economy. The obvious dishonest outlook and fraud-like tendencies which over the years, have formed the most basic characteristics of the maritime industry have never helped matters either way, but has indeed complicated the issue of high insecurity of the port industries worldwide. The amendment of the Convention on Safety of Life at Sea (SOLAS) introduced the International Ship and Port Facility Security Code (ISPS) code) as preventive measure against the likelihood of terrorist attacks on Ships and Port Facilities.
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- Authors: Okoroji, Lazarus I. , Ukpere, Wilfred I.
- Date: 2011-02
- Subjects: Convention on Safety of Life at Sea (SOLAS) , International Ship and Port Facility Security Code , Maritime security - Nigeria , Port security , Harbour security
- Type: Article
- Identifier: uj:5819 , ISSN 1993-8233 , http://hdl.handle.net/10210/7835
- Description: Over the years, acts of insecurity, lack of safety consciousness and threat of terrorism have pervaded the maritime landscape of the world economy. The obvious dishonest outlook and fraud-like tendencies which over the years, have formed the most basic characteristics of the maritime industry have never helped matters either way, but has indeed complicated the issue of high insecurity of the port industries worldwide. The amendment of the Convention on Safety of Life at Sea (SOLAS) introduced the International Ship and Port Facility Security Code (ISPS) code) as preventive measure against the likelihood of terrorist attacks on Ships and Port Facilities.
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