Blueprint for a business plan competition: Can it work?

Institutions globally are focusing on ways and means to develop businesses and an entrepreneurial culture. Small, Medium and Micro Enterprises (SMMEs) are regarded the world over as being job creators of the future and battling more and more with large corporations, which are retrenching staff, and it has fallen to the SMME sector to create employment. Consequently, governments and institutions are focusing increasingly on ensuring that entrepreneurial growth takes place. One method used almost universally is business plan competitions which are aimed at stimulating interest in business and getting people with the skills to start their own businesses. There are many of these competitions in the industry but they will only succeed if the idea is evaluated positively. If it is not, the initiative might not be able to attract funding or gain access to potential suppliers and customers. This article focuses on an analysis of success factors of business plan competitions and recommends a blueprint that can be followed – with minor country or regional adjustments – to run these competitions successfully

Incorporating Customer Service Expectations In The Restaurant Industry: The Guide To Survival

With the remarkable growth and economic contributions of the services industry, companies are finding that they need to focus on service to keep up with rising customer expectations and to compete effectively. Thus excellent customer service in a restaurant has the potential of differentiating the restaurant from competing ones and could lead to creating a competitive advantage. Thus, if a restaurant becomes well known for its superior customer service, this can be used as a way of outmanoeuvring competing restaurants. This article examines customer service in selected restaurants in the Tshwane area. It is aimed at establishing criteria for excellent customer service in restaurants, which can serve as the basis for building good relationships with customers. An empirical study was conducted to namely to investigate customer service in selected restaurants in the Tshwane Area, with the aim to establish criteria for excellent customer service as a benchmark for establishing relationships with customers, by means of an exploratory study. A self-administered survey was conducted whereby questionnaires were handed to restaurant patrons with the restaurant bill folder. Based on the research results, criteria were developed for excellent customer service which can be used as a benchmark for establishing relationships with customers, by providing customer satisfaction, which leads to customer retention, loyalty and ultimately profitability for an organisation

FROM HIGH-FIDELITY NUMERICAL SIMULATIONS OF A LIQUID-FILM ATOMIZATION TO A REGIME CLASSIFICATION

High-fidelity numerical simulations of spray formation were conducted with the aim of improving fundamental understanding of airblast liquid-film atomization. The gas/liquid interaction in the near-nozzle region is investigated for a multitude of operating conditions in order to extrapolate phenomenological and breakup predictions. To reach this goal, the robust conservative level-set (RCLS) method was used. For a fixed prefilmer geometry, we performed a parametric study on the impact of various liquid and gas velocities on the topological evolution of the liquid interface. The behavior and development of the liquid film is found to be influenced mainly by the relative inertia of the gas and the liquid, the liquid surface tension, and interfacial shear stresses. Preliminary regime maps predicting the prefilming liquid-sheet atomization behavior are constructed based on our numerical results. Three distinct types of “regime” are reported: accumulation, ligament-merging, and three-dimensional wave mode. In addition, these results also show the influence of vortex action and rim-driven dynamics on the breakup mechanism at the atomizer edge. An increase in liquid injection speed leads to the generation of smaller droplets; whereas, an increase in air velocity does not point to one simple conclusion

Visual Merchandising Displays Effect On Consumers: A Valuable Asset Or An Unnecessary Burden For Apparel Retailers

Several consumers think they only purchase products when they go shopping, however time and time again they purchase the experience of shopping as well. The experience of shopping is highly influenced by the visual merchandising displays (also known as feature areas where merchandise is presented) used in store. Much has been said about visual merchandising displays and the effect it has on consumer behaviour. The way products are displayed and promoted in apparel retail stores can have a vast impact on consumer responses and how much merchandise the retailer sells. The main research question explored the effect visual merchandising displays have on consumer behaviour. Explorative research was deemed to be the most appropriate for this study and qualitative data was collected. Focus groups were used to collect the first round of data, where after nae sketches were used to support the findings. The focus groups and nae sketches were analysed by means of thematic analysis. The findings indicated that the visual merchandising displays guide consumers in the direction of the products they are seeking and that it also guides their decisions. The participants agreed that their buying behaviour is influenced on a subconscious level, based on the eminence of the visual merchandising displays, as well as their personal preferences and gender

First-principles, atomistic thermodynamics for oxidation catalysis

Present knowledge of the function of materials is largely based on studies (experimental and theoretical) that are performed at low temperatures and ultra-low pressures. However, the majority of everyday applications, like e.g. catalysis, operate at atmospheric pressures and temperatures at or higher than 300 K. Here we employ ab initio, atomistic thermodynamics to construct a phase diagram of surface structures in the (T,p)-space from ultra-high vacuum to technically-relevant pressures and temperatures. We emphasize the value of such phase diagrams as well as the importance of the reaction kinetics that may be crucial e.g. close to phase boundaries.Comment: 4 pages including 2 figure files. Submitted to Phys. Rev. Lett. Related publications can be found at http://www.fhi-berlin.mpg.de/th/paper.htm

Applying Learning Technologies In An Open Learning Context

The use of learning technologies are becoming more and more important in education. Not only is it essential that educational institutions look at new ways of learning and teaching, but they also need to adapt to the changing profile of their students and their learning habits. In this respect the use of technology has become important to both residential universities and Open learning institutions. It is the management of these technologies that are posing challenges to academia all over the world. Previous research undertaken by the authors in a specific department believed a learning management system to be the most appropriate technology to use. The experience of the head of department has however shown that lecturers are using the university’s proprietary learning management system, myUnisa, either to a limited extent or hardly at all. Consequently, further research was undertaken targeting the other Chairs of Departments and selected senior lecturers within the School of Management Sciences, to which the Department of Marketing and Retail Management belongs, in order to identify ways of increasing the use of myUnisa amongst lecturers

Internet-Based ICT Usage By South African SMEs: The Barriers Faced By SMEs

Previous research estimates that 8 out of 10 small and medium enterprises (SMEs) do not operate for more three years (Mason 2015). According to OECD ([sa]), the major problems encountered by SMEs relate to financing and regulatory burdens. However, with information technology, SMEs are able to narrow the information gap, which leads to improved strategies and decision making (OECD [sa]). In today’s competitive world, information communication technology (ICT) is recognized as a crucial success factor for SMEs. ICT refers to the accessing and communication of information using various technologies such as the internet, wireless networks and cellphones (TechTerms 2010). This research study investigates SMEs’ perception of the barriers in adopting ICT in the South African context. The objective of this paper is to determine ICT adoption and the perceived barriers associated with it among South African SMEs. A review of ICT within an SME context is examined. Through judgement sampling, a questionnaire was distributed to gather the responses of 90 SMEs. The most important barriers that were highlighted by the results of the study are the high cost of ICT systems as well as the lack of knowledge to maintain and use ICT. The challenge is to ensure that South African SMEs continue to increase the adoption of ICT. It is envisaged that by determining the barriers they face and providing recommendations as to how they can overcome these barriers, this research will assist SMEs to become more successful, as they play a vital role in the South African economy

Establishing The Challenges Affecting South African SMEs

Cant andLigthelm (2003) estimate that 70-80 percent of SMEs fail.  A number of elements and challenges have beenidentified as contributing factors to the high failure rate of SMEs in SouthAfrica.  The research investigates theextent to which the identified variables affect South African SMEs.  The objective of this paper is to determine towhat extent SMEs experience selected challenges or issues that negativelyinfluence the success of the business.  Challengesand issues include exogenous macro environmental variables and endogenousenvironmental variables, namely marketing.  A questionnaire was constructed and judgementsampling was used to gather the responses of 81 SMEs.  The research identified inflation and interestrates, crime and unemployment, low demand for products, the wrong pricing strategiesimplemented and the location of the business to be the major problemsexperienced by SMEs.  The challenge nowis to improve the skills and capabilities of SMEs to ensure their success asthey play a vital role in the South African economy

Attitudes of Small Business Owners towards Counterfeit Merchandise: Ethics or Survival?

Counterfeiting of products is an industry that affects many countries worldwide and it is an industry that has grown exponentially in the 21st century, due to the value associated with branded products. It is the demand from individuals that fuels this trade and what will keep the trade growing for years to come. It therefore becomes essential that research be conducted to investigate the attitudes held towards the trade in order to gain a better understanding of the current counterfeit environment. This article aimed to investigate the attitudes that South African small business owners have with regard to counterfeit merchandise. Quantitative research was undertaken by means of a self-administered web-based questionnaire that was e-mailed to individuals that either have an active SME (Small, Medium Enterprise) or individuals that are seeking to start their SME, who reside in the provinces of the Mpumalanga and the Western Cape. The data obtained was then analysed by means of SAS JMP version 11 whereby attitudes held towards counterfeit merchandise were established. The main conclusions emanating from the research, was that South African SMEs generally have a negative attitude towards purchasing counterfeit fashion branded merchandise