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

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

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

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

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

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

Experiential Marketing On Brand Advocacy: A Mixed-Method Approach On Global Apple Product Users

Traditionally, marketing was about delivering the right product to the consumer at the right place and set at the right price. In recent years, experiential marketing has increased in popularity among companies that aim at delivering holistic experiences to be enjoyed by their consumers. With the technology explosion and the level of development the past number of years, marketers have become more and more focussed on different ways and methods to reach consumers. The use of experiential marketing as a means of getting consumer buy-in and attention is gaining in momentum - with Apple leading the way. This study made use of a mixed-method approach to determine the relationship between experiential marketing and brand advocacy through brand loyalty. Qualitative research was utilised to deduce themes for brand advocacy for Apple, which was incorporated into the quantitative research in the form of a web-based questionnaire completed by consumers of Apple products. Apple consumers found the experiential marketing efforts by Apple to have an influence on their feeling of loyalty toward the brand. As that feeling of loyalty increased, these consumers displayed a high tendency toward becoming brand advocates for Apple

Are Customers Satisfied With Healthier Food Options At South African Fast-Food Outlets?

Fast-food consumption has been a staple for many people; however, due to rising health concerns, there has been an increasing interest in the consumption of healthier food both in South Africa and elsewhere.  Many consumers are demanding better quality foods that offer nutritional benefits.  This global trend has led to fast-food outlets adding healthier food options to their menus.  Limited literature exists on customer satisfaction with regards to the food quality of these healthier food options.  Therefore, the purpose of this article is to determine the level of customer satisfaction with the food quality of healthier food options available at fast-food outlets in South Africa.  The study followed a mixed method approach, whereby a self-administered questionnaire was distributed to students at a residential South African University.  The results indicate that South African consumers are highly satisfied with the food quality of the healthier food options at fast-food outlets

Open Distance Learning Students Perception Of The Use Of Social Media Networking Systems As An Educational Tool

Students in tertiary institutions have become more and more adapted to the use of technology, which is especially important for the businesses that hire graduates. Students are increasingly expected by employers to be proficient in the use of social media and therefore expect their institutions to make use of similar technology in the delivery of educational materials. The main aim of this study was to investigate students perceptions of the use of social media networking systems during their time of studying at an open distance learning (ODL) tertiary institution. The study also investigated whether students feel at ease when using social media networking systems, whether they will be able to find information on these social media networking systems, and whether they believe it will be an effective and easy way to study course content. These were tested by making use of the Technology Acceptance Model (TAM) constructs namely; Perceived ease of use, Perceived usefulness, Attitude towards using, and System accessibility. A survey was distributed to students, and it was found that students regarded Perceived ease of use as being the most important factor to consider when they are using social media networking systems

Training And Development In SMEs: South Africa’s Key To Survival And Success?

In today’s competitive business environment, the capabilities and skills of employees are fundamental requirements for continuous productivity, innovation and success in small and medium enterprises (SMEs). However, the situation of SMEs with regards to training and development is characterised by a paradox and are considered to be crucial elements of competitiveness and success against the backdrop of globalisation. Previous studies have found that constant training and development initiatives are less likely to be available to employees working in SMEs than to those in larger organisations. The study therefore aims to determine the perception of entrepreneurs or SME owners towards the importance of training and development in their business. A self-administered questionnaire was sent to SME owners and a total of 60 usable responses were received. The study showed, amongst others, that a lack of resources is stronger than the influence of business management and external assistance.