04. Theses and Dissertations
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- Small, Medium and Micro Enterprises are usually seen as an important tool for improving living standard. Considering the importance of SMMEs to economic growth, job creation and poverty alleviation, there is a need to train small business owners and managers and to expose them to risk management strategies that will promote businesses and reduce high failure rate. SMMEs are lacking when it comes to risk management knowledge and skills, which contributes to their high failure rate. In addition, South African education system is lacking when it comes to educating and training SMMEs on how to run their businesses successfully, especially exposing small business to risk management strategies for them to be able to respond to different kinds of risks. Given this background, this study sought to identify risks management strategies for SMMEs in retail and manufacturing industry focusing on uMhlathuze Municipality. The researcher used primary data for this study. The study adopted a qualitative method approach where data was collected through semi-structured interviews. Purposive sampling was used to select 12 SMMEs of uMhlathuze Municipality: 6 from the manufacturing and 6 from the retail industry. Data collected from the participants was coded and analysed using themes and content analyses The results from the study showed that the risks faced by SMMEs negatively impact daily activities of small businesses and it also results in poor performance on SMMEs. Such risks include financial risk, resource risk, credit risk, reputation risk, inflation risk, and corona virus. Therefore, there is a need to assist SMMEs and improve their growth, as it was found that the strategies, they used to be inadequate in mitigating the identified risks. Whilst all SMMEs involved in this study reported to be faced with risks, not all of them had specific risk management strategies in place to deal with such. However, it was found that among the risk’s management strategies used by some SMMEs to fight risks are publicity and re-organizing. Use of private security, alerting customers about the price increase to ensure that they don’t get a shock or prices when purchases, insisting on deposit payments and sticking to cash transactions were some of the strategies used. Fewer SMMEs have insurance for their assets. Additionally, some of the selected SMMEs attribute their survival to getting sponsorship from government and private sector, and access to credit markets through short term loans. Sequel to the findings of the study, it is recommended that SMMEs should be given more assistance in education and training in terms of the different kinds of risks they are facing. Also, they need to be assisted with proper and quality strategies capable of keeping businesses protected and secured from risks, that will reduce risks.
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- We are conscious of the reality that corruption in many forms has deeply infected the fibre of our society. Precisely because we face the challenge of dealing with systematic corruption, we need a dispassionate and systematic approach to this question.” Nelson Mandela, at the opening of Parliament (February 17, 1995). It would appear that the integrity of leading organizations, and the ethical behavior of leaders in the workplace, can have a positive impact on the organization as a whole. Many such leaders are moulded and developed in our institutions of higher education. Is there then an onus on these institutions to attempt to instill such ethical values into tomorrow’s leaders? Business ethics courses have in recent years become prevalent worldwide, and more recently here in South Africa. The question that begs asking however is: Does teaching an ethics course to students influence their moral judgment, competence, and attitudes toward corporate ethics? Many believe that integrity, and hence ethical behaviour, is not something that can be acquired as an adult, but is dependent on your upbringing, social status and perhaps religion. These aspects of life may form a foundation for thinking, but as we are constantly growing and developing, especially in the formative years, they too can be developed. Based on the undisputed need for ethical leaders the following hypothesis was developed. Higher education institutions using a well-designed Ethics instruction programme can positively influence the undergraduate student’s moral judgment competence and attitude toward corporate ethics. A literary review was conducted including both local and international studies. Based on this a survey instrument was prepared, tested, and distributed. Solomon’s four group design was chosen as the most appropriate method of research. Although this research showed no statistical or practical improvement in students’ attitude toward business ethics, I believe the teaching thereof at least provides the student with an awareness of the situations she/he may encounter on entering the business world. It also provides methods for resolution of conflict both internal and external to which the student may later refer. In this study there were not found to be any significant demographics affecting students’ attitudes, however the sample did have demographic limitations. As significant resources are allocated to the teaching of ethics it would be prudent to conduct further research into the effectiveness of teaching business ethics. The purpose of further research would not be to justify no longer teaching ethics, but to develop a standard of best practice in this regard. We cannot change the world overnight and we possibly can not even change the views of an entire group, but if we can just create one ethical leader we have made a difference to the world.
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