Human capital development (HCD) risks in the African hospitality industry
- Mara, Cashandra, Govender, Cookie, Makka, Anoosha
- Authors: Mara, Cashandra , Govender, Cookie , Makka, Anoosha
- Date: 2019
- Subjects: Human capital development , Hospitality industry , South Africa
- Language: English
- Type: Article
- Identifier: http://hdl.handle.net/10210/399250 , uj:33268 , Citation: Mara, C., Govender, C. & Makka, A. 2019. Human capital development (HCD) risks in the African hospitality industry. African Journal of Hospitality, Tourism and Leisure, 8(4):1-14.
- Description: Abstract: This study was inspired by an interest in understanding how African hospitality managers view human capital development (HCD) or training risk, which, as an emerging field, is worthy of investigation. Human capital risks may result from management actions or inactions and may cause financial or reputational damage, loss of talent and dynamic capabilities. Examples of HCD inactions may be failure to transfer training, lack of agreement between line managers and HCD practitioners’ priorities, or lack of insight into the organisation’s strategic direction. A sample of 32 managers in 12 hospitality organisations in Namibia and South Africa was interviewed to explore their perceptions of HCD risk. It was found that little knowledge exists about HCD risks. Similar risks were found to be prevalent in the hospitality industries in the two countries, which were high employee turnover, low levels of employee and management commitment, which resulted in poor performance. Theoretically, this article contributes to the body of knowledge on HCD in the unique African context. Its practical contribution is that it creates awareness about HCD risk and the benefits of managing it.
- Full Text:
- Authors: Mara, Cashandra , Govender, Cookie , Makka, Anoosha
- Date: 2019
- Subjects: Human capital development , Hospitality industry , South Africa
- Language: English
- Type: Article
- Identifier: http://hdl.handle.net/10210/399250 , uj:33268 , Citation: Mara, C., Govender, C. & Makka, A. 2019. Human capital development (HCD) risks in the African hospitality industry. African Journal of Hospitality, Tourism and Leisure, 8(4):1-14.
- Description: Abstract: This study was inspired by an interest in understanding how African hospitality managers view human capital development (HCD) or training risk, which, as an emerging field, is worthy of investigation. Human capital risks may result from management actions or inactions and may cause financial or reputational damage, loss of talent and dynamic capabilities. Examples of HCD inactions may be failure to transfer training, lack of agreement between line managers and HCD practitioners’ priorities, or lack of insight into the organisation’s strategic direction. A sample of 32 managers in 12 hospitality organisations in Namibia and South Africa was interviewed to explore their perceptions of HCD risk. It was found that little knowledge exists about HCD risks. Similar risks were found to be prevalent in the hospitality industries in the two countries, which were high employee turnover, low levels of employee and management commitment, which resulted in poor performance. Theoretically, this article contributes to the body of knowledge on HCD in the unique African context. Its practical contribution is that it creates awareness about HCD risk and the benefits of managing it.
- Full Text:
Value proposition as a tool to increase customer loyalty
- Rakosa, Kenosi, Mara, Cashandra
- Authors: Rakosa, Kenosi , Mara, Cashandra
- Date: 2019
- Subjects: Value proposition , South Africa , Banking
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/402484 , uj:33683 , Citation: Rakosa, K. & Mara, C. 2019. Value proposition as a tool to increase customer loyalty.
- Description: Abstract: The mature, yet sound banking industry in South Africa is being disrupted by the information age, demanding and informed millennials, sluggish economic growth and new entrants rivalling traditional norms. To attract and retain bank clients, value proposition as a strategic tool can be applied to meet customer’s changing banking demands but also to meet the bank’s strategy for higher and sustainable profits. Value proposition provides a platform where customers’ needs can be addressed through a holistic relationship with their bank and ideally banks are able to establish an all-inclusive view of the customer. The study reveals that the bank under study is employing value proposition as a high-level strategy, and not only as a marketing strategy to optimize profits and advance customer relations. However, the realistic conditions and challenges that the bank faces in the implementation of value proposition strategy are not as simplistic as its strategy, and this research depicts such findings. Therefore, instead of applying a marketing lens to value proposition, this study presents a unique demonstration of value proposition as a business strategy. Using an interpretivist approach, qualitative research was employed to interview fifteen relationship managers in one mature South African bank. Key findings revealed that the bank was considered reactive and banking customers were price-sensitive. While the bank is attempting to embrace technological change, service levels are declining. Findings were grouped into four themes and it was uncovered that the bank’s attempts at value proposition, are still bank centric, and not customer centric. Recommendations are based on strategic literature and findings so as to meet the identified challenges. Recommendations are to enhance the bank’s information systems and relook current value proposition strategies to improve the bank’s position in the market. This research contributes theoretically by adding to the body of knowledge on value proposition as a strategic business tool. The practical contribution is that relationship managers as implementers of strategy become aware of the critical role they play in understanding the perceptions of value proposition from the customer’s points of view.
- Full Text:
- Authors: Rakosa, Kenosi , Mara, Cashandra
- Date: 2019
- Subjects: Value proposition , South Africa , Banking
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/402484 , uj:33683 , Citation: Rakosa, K. & Mara, C. 2019. Value proposition as a tool to increase customer loyalty.
- Description: Abstract: The mature, yet sound banking industry in South Africa is being disrupted by the information age, demanding and informed millennials, sluggish economic growth and new entrants rivalling traditional norms. To attract and retain bank clients, value proposition as a strategic tool can be applied to meet customer’s changing banking demands but also to meet the bank’s strategy for higher and sustainable profits. Value proposition provides a platform where customers’ needs can be addressed through a holistic relationship with their bank and ideally banks are able to establish an all-inclusive view of the customer. The study reveals that the bank under study is employing value proposition as a high-level strategy, and not only as a marketing strategy to optimize profits and advance customer relations. However, the realistic conditions and challenges that the bank faces in the implementation of value proposition strategy are not as simplistic as its strategy, and this research depicts such findings. Therefore, instead of applying a marketing lens to value proposition, this study presents a unique demonstration of value proposition as a business strategy. Using an interpretivist approach, qualitative research was employed to interview fifteen relationship managers in one mature South African bank. Key findings revealed that the bank was considered reactive and banking customers were price-sensitive. While the bank is attempting to embrace technological change, service levels are declining. Findings were grouped into four themes and it was uncovered that the bank’s attempts at value proposition, are still bank centric, and not customer centric. Recommendations are based on strategic literature and findings so as to meet the identified challenges. Recommendations are to enhance the bank’s information systems and relook current value proposition strategies to improve the bank’s position in the market. This research contributes theoretically by adding to the body of knowledge on value proposition as a strategic business tool. The practical contribution is that relationship managers as implementers of strategy become aware of the critical role they play in understanding the perceptions of value proposition from the customer’s points of view.
- Full Text:
Value proposition as a tool to increase customer loyalty
- Rakosa, Kenosi, Mara, Cashandra
- Authors: Rakosa, Kenosi , Mara, Cashandra
- Date: 2019
- Subjects: Value proposition , South Africa , Banking
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/407472 , uj:34300 , Citation: Rakosa, K., Mara, C. 2019: Value proposition as a tool to increase customer loyalty.
- Description: Abstract: The mature, yet sound banking industry in South Africa is being disrupted by the information age, demanding and informed millennials, sluggish economic growth and new entrants rivalling traditional norms. To attract and retain bank clients, value proposition as a strategic tool can be applied to meet customer’s changing banking demands but also to meet the bank’s strategy for higher and sustainable profits. Value proposition provides a platform where customers’ needs can be addressed through a holistic relationship with their bank and ideally banks are able to establish an all-inclusive view of the customer. The study reveals that the bank under study is employing value proposition as a high-level strategy, and not only as a marketing strategy to optimize profits and advance customer relations. However, the realistic conditions and challenges that the bank faces in the implementation of value proposition strategy are not as simplistic as its strategy, and this research depicts such findings. Therefore, instead of applying a marketing lens to value proposition, this study presents a unique demonstration of value proposition as a business strategy. Using an interpretivist approach, qualitative research was employed to interview fifteen relationship managers in one mature South African bank. Key findings revealed that the bank was considered reactive and banking customers were price-sensitive. While the bank is attempting to embrace technological change, service levels are declining. Findings were grouped into four themes and it was uncovered that the bank’s attempts at value proposition, are still bank centric, and not customer centric. Recommendations are based on strategic literature and findings so as to meet the identified challenges. Recommendations are to enhance the bank’s information systems and relook current value proposition strategies to improve the bank’s position in the market. This research contributes theoretically by adding to the body of knowledge on value proposition as a strategic business tool. The practical contribution is that relationship managers as implementers of strategy become aware of the critical role they play in understanding the perceptions of value proposition from the customer’s points of view.
- Full Text:
- Authors: Rakosa, Kenosi , Mara, Cashandra
- Date: 2019
- Subjects: Value proposition , South Africa , Banking
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/407472 , uj:34300 , Citation: Rakosa, K., Mara, C. 2019: Value proposition as a tool to increase customer loyalty.
- Description: Abstract: The mature, yet sound banking industry in South Africa is being disrupted by the information age, demanding and informed millennials, sluggish economic growth and new entrants rivalling traditional norms. To attract and retain bank clients, value proposition as a strategic tool can be applied to meet customer’s changing banking demands but also to meet the bank’s strategy for higher and sustainable profits. Value proposition provides a platform where customers’ needs can be addressed through a holistic relationship with their bank and ideally banks are able to establish an all-inclusive view of the customer. The study reveals that the bank under study is employing value proposition as a high-level strategy, and not only as a marketing strategy to optimize profits and advance customer relations. However, the realistic conditions and challenges that the bank faces in the implementation of value proposition strategy are not as simplistic as its strategy, and this research depicts such findings. Therefore, instead of applying a marketing lens to value proposition, this study presents a unique demonstration of value proposition as a business strategy. Using an interpretivist approach, qualitative research was employed to interview fifteen relationship managers in one mature South African bank. Key findings revealed that the bank was considered reactive and banking customers were price-sensitive. While the bank is attempting to embrace technological change, service levels are declining. Findings were grouped into four themes and it was uncovered that the bank’s attempts at value proposition, are still bank centric, and not customer centric. Recommendations are based on strategic literature and findings so as to meet the identified challenges. Recommendations are to enhance the bank’s information systems and relook current value proposition strategies to improve the bank’s position in the market. This research contributes theoretically by adding to the body of knowledge on value proposition as a strategic business tool. The practical contribution is that relationship managers as implementers of strategy become aware of the critical role they play in understanding the perceptions of value proposition from the customer’s points of view.
- Full Text:
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