Surviving the business life cycle : a theoretical framework for independent financial advisers

Independent financial advisers play a vital role in assisting clients to meet their financial goals. However, it appears that additional guidance is needed for these advisers to survive in their complex business environment, governed by strict legislation. To date, only a small amount of research has been conducted in this area and no formal research study in South Africa has provided a course of direction for these advisers. Consequently, this study aimed to expand the body of knowledge by investigating the potential problems posing a threat to the businesses of independent financial advisers in their business life cycle, as well as possible strategies that can be implemented to counter those obstacles. Based on the findings a theoretical framework was proposed, suggesting key areas independent financial advisers would need to focus on in their business life cycle to conquer the challenges they might encounter and survive. The study concluded with a number of hypotheses to set the direction for future empirical research regarding the survival and growth of independent financial advisers in South Africa

BMI-based figure rating scale (FRS) as an adjunctive aid in nutritional screening and assessment in a resource-limited setting

Objectives: Many existing malnutrition screening and diagnostic tools require body mass index (BMI) and quantification of weight change to detect malnutrition or risk thereof. This is often a challenge in South African public hospitals due to missing data, including patient records. This study investigated the extent to which hospitalised patients can gauge their current and usual body size from a validated BMI-based figure rating scale (FRS). It also ascertained whether a relationship exists between a change in clothing size and a change in perceived BMI, derived from the FRS.Methods: A total of 196 adult patients participated in a cross-sectional study, in three Eastern Cape public hospitals. Data were collected by consulting medical files, patients and taking anthropometric measurements. Validated FRSs were used to determine patients’ accuracy of actual and usual BMI. Data were analysed with Statistica® and Microsoft Excel 2016.Results: Some 66% (n = 131) of participants were accurate in selecting an image representative of their BMI, which was statistically significant (r2 = 0.80; p < 0.001). Female participants were more likely to select the correct corresponding BMI image (p < 0.05; r2 = 0.77 for males; r2 = 0.82 for females). Altogether, 61% (n = 79) of participants with a known previous weight were accurate in selecting an accurate image representative of their usual BMI, also statistically significantly (r2 = 0.71; p < 0.001).Conclusion: An existing FRS may be a useful adjunctive aid in clinical practice to estimate certain anthropometric indices when not otherwise available. This may be especially relevant to nutritional screening practices conducted by frontline healthcare professionals, e.g. nurses and doctors not specifically trained in anthropometry. This in turn may improve malnutrition detection rates and facilitation of appropriate nutrition care pathways

Characteristics of local groundwater recharge cycles in South African semi-arid hard rock terrains – rainwater input

Rainfall events in semi-arid regions of South Africa are characteristically erratic in terms of depths and recurrence rates. Chemical assessment of cyclic rainwater has recognised 3 intervals, spaced over the hydrological cycle, reporting diverse hydrochemical compositions of rainwater in winter and summer rainfall regions. Winter rainwater is generated over thesouth Atlantic maritime waters. This rainwater contains noticeably higher concentrations of oceanic aerosols (NaCl) than the summer rainwater generated in the Intertropical Convergence Zone/equatorial western Indian Ocean. Sporadic addition of terrigenous dust generated over the continent substantially elevates concentrations of non-oceanic nitrogenous andsulphurous aerosols in the summer rainwater. Prominent seasonal variations in the rainwater hydrochemistry signature coincide with cyclic rainfall depths, characteristic of the semi-arid climate. Macro-element concentrations during the summer dry period, April to September, are relatively high in relation to those recorded for the wet cycle, October to March. However, the latter period reports a noticeably depleted hydrochemical rainwater input into the local groundwater budgetduring the peak rainfall period (January to March). The October-December (early) period represents a phase between a dusty, dry winter atmosphere and a relatively flushed atmosphere in December, after the first regional rainfall manifests around middle September. Individual early rainfalls contain even higher hydrochemical concentrations than the previousdry period, which subsequently diffuses as the airborne moisture content increases towards the peak rainfall period starting in January. Continuous rainfall event monitoring in the summer semi-arid regions identified short-term wet cycles containing extraordinary high rainfall events, referred to as episodic events. These wet cycles are highly erratic in time and maylast from 3 to 8 consecutive days with a recurrence rate of 1 in 5 years. The rainwater hydrochemistry signature differs significantly from the normal rainfall composition and represents a unique opportunity for tracing the infiltrating rainwater. For example, chloride concentrations from individual, high rainfall events (40 to 150 mm) may be as low as 0.4 mgE.-1, whereas the background value varies around 0.8 mgE.-1. Environmental chloride represents a conservative tracer for estimatingthe migration between rainwater and groundwater recharge. The concentration levels are not constant throughout the year and may lead to erroneous assumptions when performing groundwater recharge estimations using accumulated rainwater samples and uncontrolled groundwater sampling techniques

Characteristics of local groundwater recharge cycles in South African semi-arid hard rock terrains: Rainfall–groundwater interaction

The semi-arid and arid regions occupy almost two-thirds of South Africa and fall in the winter and summer rainfall zones of the sub-continent. The annual rainfall patterns can be regarded as intermittent with a significant spatial variability due to the unique winter/summer synoptic systems manifesting over Southern Africa. Summer rainfall events indicate that episodic wet periods, consisting of up to 8 consecutive days, may contain falls that contribute to almost 45% to 60% of the total annual rainfall of an area; associated with relatively higher rain rates (1.5 to 10 mm·h-1). Hyetograph-hydrograph time-series data sets, however, indicate that episodic rainfall events are responsible for rapid, but sustainable groundwater recharge events. The recurrence rate of these events in the semi-arid and arid regions is still low and aquifer storage-recharge is therefore not an annual event. The recharge flow path through the unsaturated zone reservoir plays an important role in the underdrainage flow pattern, and subsequently the saturated flow regime. It resembles a simple L-shaped flow path driven by direct recharge mounding in the fractured hard rock terrain and indirect recharge to the surrounding sub-reservoirs. The lag-times between rainfall events and water table responses were found to be significantly short; a matter of a few hours to less than a few days. Evidence of multi-modal, time-related infiltration phases during the summer early and peak rainfall intervals, governed by the field capacity status of the unsaturated zone reservoir and the growth status of the local vegetation, were observed. A unique rainfall pattern in semi-arid and arid regions is required before a sustainable aquifer storage-recharge condition develops and such incidences could be a one-in-several-year (5 to 9) event

Customer satisfaction, trust and commitment as predictors of customer loyalty within an optometric practice environment

Optometric businesses need to adopt strategies to enhance loyalty, as customer satisfaction is not enough to ensure loyalty and customer retention. It has been stated that 85% of patients in the optometric industry who defect to other service providers were satisfied with the service received just before defecting. Consequently, to assist optometric practices in South Africa with their customer loyalty strategies, the purpose of the research conducted for this article was to develop an understanding of theinfluence of the independent variables of customer satisfaction, trust and commitment on customer loyalty within an optometric practice. The methodological approach followed was exploratory and quantitative in nature. The sample consisted of 357 patients who had visited the practice twice or more within the past six years. A structured questionnaire, with a five-point Likert scale, was used. A descriptive and multiple regression analysis approach was used to analyse the results. The main conclusion is that customer satisfaction had the highest correlation with customer loyalty, but the other independent variables also significantly influence customer loyalty within an optometric practice environment. The implication is that optometric practices need to focus on customer satisfaction, trustand commitment in order to improve customer loyalty.Key words: optometric practice, customer loyalty, customer retention, customer satisfaction, customer relationship managemen

Coordinate-invariant Path Integral Methods in Conformal Field Theory

We present a coordinate-invariant approach, based on a Pauli-Villars measure, to the definition of the path integral in two-dimensional conformal field theory. We discuss some advantages of this approach compared to the operator formalism and alternative path integral approaches. We show that our path integral measure is invariant under conformal transformations and field reparametrizations, in contrast to the measure used in the Fujikawa calculation, and we show the agreement, despite different origins, of the conformal anomaly in the two approaches. The natural energy-momentum in the Pauli-Villars approach is a true coordinate-invariant tensor quantity, and we discuss its nontrivial relationship to the corresponding non-tensor object arising in the operator formalism, thus providing a novel explanation within a path integral context for the anomalous Ward identities of the latter. We provide a direct calculation of the nontrivial contact terms arising in expectation values of certain energy-momentum products, and we use these to perform a simple consistency check confirming the validity of the change of variables formula for the path integral. Finally, we review the relationship between the conformal anomaly and the energy-momentum two-point functions in our formalism.Comment: Corrected minor typos. To appear in International Journal of Modern Physics

Detection of two strains of grapevine leafroll-associated virus 2

Two strains of grapevine leafroll-associated virus 2 (GLRaV-2) were obtained by mechanical transmission from grapevines to Nicotiana benthantiana. The strains, designated 94/970 and 93/955, consistently differed with regard to the development of symptoms. The first induced chlorotic and occasional white-necrotic local lesions while the second induced chlorotic followed by metallic-opalescent, solid necrotic local lesions. The strains were indistinguishable with regard to the molecular weight of their capsid proteins or serologically. A difference in the pattern of minor dsRNA bands was consistently observed

Worldsheet Covariant Path Integral Quantization of Strings

We discuss a covariant functional integral approach to the quantization of the bosonic string. In contrast to approaches relying on non-covariant operator regularizations, interesting operators here are true tensor objects with classical transformation laws, even on target spaces where the theory has a Weyl anomaly. Since no implicit non-covariant gauge choices are involved in the definition of the operators, the anomaly is clearly separated from the issue of operator renormalization and can be understood in isolation, instead of infecting the latter as in other approaches. Our method is of wider applicability to covariant theories that are not Weyl invariant, but where covariant tensor operators are desired. After constructing covariantly regularized vertex operators, we define a class of background-independent path integral measures suitable for string quantization. We show how gauge invariance of the path integral implies the usual physical state conditions in a very conceptually clean way. We then discuss the construction of the BRST action from first principles, obtaining some interesting caveats relating to its general covariance. In our approach, the expected BRST related anomalies are encoded somewhat differently from other approaches. We conclude with an unusual but amusing derivation of the value $D= 26$ of the critical dimension.Comment: 64 pages, minor edits in expositio

Mid-upper arm circumference (MUAC) as a feasible tool in detecting adult malnutrition

Objectives: This study aimed to expand on the limited South African malnutrition prevalence data and investigate the feasibility of mid-upper-arm circumference (MUAC) as a malnutrition screening tool. Design: A cross-sectional, multi-centre, descriptive design was adopted. Setting: The study was undertaken in three tertiary public hospitals in the same urban area within the Eastern Cape of South Africa. Subjects: Adult hospitalised patients volunteered to participate (n = 266). Methods: Data were collected using interviewer-administered questionnaires; obtaining anthropometric measurements; and consulting medical files. For maximum accuracy of various MUAC cut-off points, receiver operating characteristic curves were generated and area under the curve determined. Results: Both body mass index (BMI) and MUAC identified 21% of participants as underweight or malnourished, and 39% as overweight or obese. The Malnutrition Universal Screening Tool (MUST) found 23% at increased malnutrition risk. Nurses or doctors detected and referred only 19% of underweight patients (BMI < 18.5 kg/m2), to dietetics services. Direct measurements of BMI and MUST were unobtainable in 38% and 43% of patients respectively, whilst MUAC was obtainable in 100%. A statistically significant relationship (p < 0.001) exists between MUAC, BMI and MUST to detect malnutrition or malnutrition risk. MUAC cut-offs for undernutrition were determined at < 23 cm (BMI < 16 kg/m2) and < 24 cm (BMI < 18.5 kg/m2), respectively, for the study’s population groups. Conclusion: Malnutrition prevalence was high in this study, but often unidentified, with only a fifth referred to dietetic services. MUAC is a feasible method to identify adult malnutrition and should be considered as a malnutrition screening tool and key nutritional status indicator in South African public hospitals

The relationship between key variables and customer loyalty within the independent financial advisor environment

Research is required to determine the key variables that have a positive relationship with customer loyalty in the independent financial adviser environment. Knowledge of the factors that could assist in fostering customer loyalty might help independent financial advisers firstly in maintaining their client base, and then secondly, to strategise with them over the long term to behave more financially responsible, achieve their saving goals, and become financially independent. Therefore, the primary aim of this article is to explore the relationship between key variables and customer loyalty within the independent financial adviser environment in Gauteng. The population was defined as all the clients of independent financial advisers in the Gauteng region. A convenience non-probability sampling technique was applied and self-administered questionnaires were distributed to the clients in Gauteng who matched the sampling frame. A total of 123 questionnaires were completed and could be used in the analysis. Descriptive and standard multiple regression analysis as well as the one-way analysis of variance (ANOVA) technique was used to analyse the results. Trust and commitment can be viewed as predictors of customer loyalty within the independent financial adviser environment in Gauteng and must form part of the core of the financial adviser’s relationship building strategies. It is therefore important for independent financial advisers to ensure that their clients have confidence in their ability to provide sound financial advice. Clients must be convinced that financial advisers have their best interest at heart and as such, should remain committed to their practices