Marius Pretorius

Critical evaluation of two models for entrepreneurial education: An improved model through integration

Purpose – This paper focuses on the comparison of two models for entrepreneurial education with the aim of potential integration. At this juncture when entrepreneurial development is seen as the core contributor to enhance start‐ups of new ventures and hence facilitate economic growth and development, the best possible education model is required. The creation of more entrepreneurs is at least partially dependent on the creation and advancement of efficient educational models.Design/methodology/approach – First, this paper briefly describes the two independently developed models for entrepreneurial education. Second, an in‐depth qualitative analysis of the individual model constructs is presented to evaluate the contributions and limitations of each. Third, this paper proposes an integrated model that identifies certain weaknesses of each of its building‐blocks, which are eliminated by the integration.Findings – The paper concludes that the integrated model for entrepreneurial education enhances the body ...

When Porter's generic strategies are not enough: complementary strategies for turnaround situations

Purpose – Porters generic strategy matrix often proves inadequate for use by distressed firms, because it assumes that ventures operate “normally” in competitive environments. Leaders of troubled ventures facing turnaround situations need to interpret the complex factors involved, as generic strategies alone prove insufficient. Researchers have not yet come up with a model for selecting strategies in turnaround situations to match Porters model for generic competition. This paper fills this specific void. Design/methodology/approach – A model for strategies which could be applied in the turnaround situation was proposed, based on grounded research methodology. This model was then evaluated by a focus group of expert credit risk managers with turnaround experience. The research answers three questions: What are the key determinants of a turnaround situation? What complementary strategy will result in a turnaround of each situation? What strategic practices support the different complementary strategies? ...

Strategy making: the approach matters

Purpose – More than ever, businesses need to get their strategy right. Part of achieving this is the approach to strategy making that is chosen. The purpose of this paper is to describe how strategy making happens on the continuum of deliberate versus emerging strategy.Design/methodology/approach – Through in‐depth interviews with “strategy informants” (CEOs) in businesses and questionnaires to respondents (managers) in the same organizations, statistical techniques have helped us draw interesting conclusions about strategy making approaches, its elements and factors moderating the choice of strategy making approach. Through factor analysis, the construct of strategy making is informed by three concepts namely: “performance consensus”, “ends and means specificity” as well as “ends and means flexibility”.Findings – “Ends and means specificity” was associated more with the deliberate strategy approach while “ends and means flexibility” was associated more with the emerging strategy approach. “Performance c...

Addressing and measuring small business social responsibility in the African context : a stakeholder framework

Purpose - The aim of this paper is to provide a systematic and sound framework for addressing and measuring business social responsibility (BSR) in small and micro enterprises with specific focus on the African context. Design/methodology/approach - The paper is theoretical but has practical applications. The approach was to use principles of BSR from the literature to create a framework for addressing BSR issues in smaller ventures that operate in the African environment. Developing the framework involved operationalizing the linguistic meaning of BSR into observable indicators for it to be measurable. This involved the breaking down of the concept of BSR into dimensions and eventually into measurable elements. Findings - The framework identifies customer-, employee-, and community-related issues as the key BSR activities of African small businesses. Environmentalism is not a major concern for most of these businesses because they are mostly retail and services in nature; hence their impact on the environment will be so low that they need not concern themselves with environmental issues. Research limitations/implications - Critics will point out the absence of environmental issues as a major limitation. However, the authors believe that such activities are typically associated with large industrial ventures. Thus, given their nature, it is unlikely small businesses will concern themselves with such activities. Originality/value - There is a need for a framework that captures the African context. This paper fulfils that need by proposing a framework for micro and small ventures with possible inclusion of medium enterprises based on the stakeholder theory. Academics will find it useful in their research efforts. Fund managers will also find it useful as a tool for evaluating small business BSR performance. Small business owners will have a benchmark in performing their social obligations. Finally, consumers, businesses, citizens, NGOs and society at large can use it in distinguishing credible and effective socially responsible SMMEs from those that are not.

The development and structural confirmation of an instrument for measuring the social responsibility of small and micro business in the African context

Purpose - The purpose of this paper is to propose an instrument, the Small Enterprise Social Responsibility Inventory (SESRI) for measuring business social responsibility (BSR) in the African venture setting. Design/methodology/approach - The approach was to use the components of Dzansis framework to create an instrument for measuring BSR activities of small ventures that operate in rural Africa. The instrument was tested in a rural community in South Africa for validity, reliability, structure, and its ability to predict firm performance given performance of certain BSR activities. Findings - Through factor analysis of data obtained from 314 small businesses in a rural South African setting, the instrument was found to be valid for measuring small business BSR and identified five factors: expected benefits; community or customer practices; realised or actual benefits; awareness or attitude and performance; and employee practices. Through discriminant analysis, employee practice was found useful for classifying ventures as high or low sales and profit performers, suggesting that information on a firms BSR related employee practices may be useful predictors of sales and profit. Research limitations/implications - Firstly, the methodology requires self-evaluation by the respondents. However, those respondents who reported low levels of BSR activities (and negative growth in sales and performance) also reflected on their own “performance” and recorded it as low signifying some level of realistic reporting. Secondly, there is absence of question items about environmental issues. Thirdly, the sample was taken in a small rural setting, which requires caution when generalising from the results. Originality/value - This study provides an African context specific measurement instrument for addressing small business BSR. Academics will find it useful in their research efforts. Fund managers will also find it useful for evaluating small business BSR performance. Owners/managers will have a benchmark in performing their social obligations.

Leadership liabilities of newly appointed managers: arrive prepared

New CEOs and other key managers who are appointed or promoted within organisations to head divisions, teams or projects are a likely to learn over time that managing in their new positions is only part of how their success will be achieved. The critical other part is whether or not they become accepted as leaders, which often determines the success or failure of their management careers.

A reality check for corporate leaders: when managers don't respect their bosses

Purpose – The paper endeavors to determine the reasons why key managers fail to win the respect of their direct reports.Design/methodology/approach – Junior and middle managers were asked to judge why managers generally fail as leaders and what they think the consequences are when there is leadership failure. They were prompted to consider their own managers first. Their responses were categorized, ranked and reported. Thereafter a framework was developed to explain the consequences to better understand the impact of leadership failure.Findings – Managers fail at leadership as a result of poor posture, lack of “people skills”, unfocused thinking, failed communication, not giving encouragement and support, lack of expertise, lack of experience and insight as well as lack of vision and direction. The consequences influence the individual, team, organization and leadership within the organization through the feelings that they create and the subsequent actions that followers take.Research limitations/implica...

Paper-based theses as the silver bullet for increased research outputs: first hear my story as a supervisor

ABSTRACT With increased pressure to publish, academics are pursuing creative ways to achieve enhanced research outputs. One such process is the publication-based thesis (PBT) for both masters and PhD candidates, rather than monographs. While this process is not novel in the sciences, it has not been widely applied by economic and management schools, particularly in South Africa. Despite the apparently limited institutional guidelines and policies, some academics have pursued an article-based thesis writing process. Doing so has several consequences of special interest for supervisors and candidates. This research set out to identify the impediments to the PBT process, so as to guide future consideration by academics. This is an auto-ethnographic study by one senior academic with experience in both masters and PhD supervision, who has embarked on the PBT process purposively, and reflects on a deliberate choice to change from standard monograph thesis writing to the PBT approach. Member-checking interviews with 12 senior academics in management sciences (some supporting and others not supporting PBT) to some extent validated the generalizability of the liabilities expressed here as concerns. I conclude with a conceptual framework containing the experienced and envisaged realities of PBT writing. The aim of the framework is to assist and warn newcomers to the process with guidelines for considering the associated impediments. Five main liabilities that may ‘bind’ progress, covering 13 antecedents to consider, were identified. The findings led to improved understanding by contextualizing the issues underlying the PBT supervision process, giving structure and meaning to possible solutions to overcoming the liabilities.

A liabilities approach to the likelihood of liquidation in business rescue

While reorganisation procedures aim to salvage financially distressed firms, they are often abused, as uneconomic, failing firms commence with proceedings that erode value rather than preserve it. The commencement standard for business rescue is aimed at preventing such abuse, though it is often hampered by vagueness and limited practical application. Drawing on turnaround literature and the requirements of a commencement standard, this study attempts to address these drawbacks by assessing the prospect of reorganisation on commencement. The study identifies from the turnaround literature nine liabilities that could prove fatal. Under the widely-held principle of value maximisation, the researchers then propose a ‘likelihood of liquidation’ framework to evaluate, before the commencement of proceedings, the reasonable prospect of the firm’s recovering. The analysis in this paper sets the agenda for future research and provides an opportunity to explore the practical application of the framework.

Crooked strategy implementation : covert tactics fill the gaps

Purpose Today, more than ever, businesses need to improve strategy implementation. Part of achieving implementation requires strategies to be embedded in the daily activities of executors (practitioners) – thus to embed strategy in implementation. The purpose of this paper is to introduce a “lesser acknowledged” strategy type that is ill-considered by management and leadership alike. “Covert tactics” are described. Design/methodology/approach Through dialectic conversation and applying the devil’s advocacy approach to challenging embeddedness and implementation liabilities, the phenomenon of “covert tactics” was identified. Purposively selected subjects participated in the dialectic conversations. Their opinions were collected and patterns identified until their “tactics” became apparent. Another element of interest was the underlying thinking of subjects to understand what drives them to follow covert tactics. Findings Covert tactics are phantasmal individual ploys that employees take in response to their own micro situation. Higher-level managers are often not aware of their existence, as these tactics are not spoken about but do exist. Such managers assume the organisation’s professed strategies are pursued but are oblivious to the “real tactics” that are pursued. Research limitations/implications The research proposes an “invisible concept” and depends on one individual view point. Practical implications Understanding and accepting the existence of covert tactics gives managers flexibility to respond. Originality/value To address their existence, there is no need to expose and oppose covert tactics, as this will make them more “invisible”. The innovative approach is to recognise their existence and align them to the organisation strategy. The quality of the strategy message was shown to be the fundamental tool that managers can use to address covert tactics by replacing the need for their existence.