Graduate School of Business Publications

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An analysis of the internal auditing on the performamnce of banking institutions in Zimbabwe
(2020-08) Chinjova, F.; Chigariro, V.
The purpose of the research study was to establish the effects of internal auditing on the performance of banking institutions in Zimbabwe. The motivation for the study was driven by the continuous modernisation and changes in the banking sector that have reportedly, impacted on the operations and processes of the Zimbabwe’s financial sector. Risk in banking institutions have also increased due to the continuous changes in the financial operating environment and internal controls in place have since significantly changed so as to adapt to changes in the operating environment. More precisely, the security of depositors’ funds remains questionable as cases of banking funds’ theft continued to occur regardless of the existence of the internal audit function in banking institutions. The study used pragmatism as a research philosophy and stratified sampling technique was used to select a sample of 16 banks from a total population of 19, whose employees were used during the actual data gathering process. More importantly, the Pearson’s correlation and multiple regression analysis performed showed that auditor independence, management support, internal controls and audit practices are critical and explicit factors that directly affect the performance of Zimbabwe’s banking institutions. The study recommended that the Zimbabwe’s banking sector, from time to time, should periodically review and assess the compatibility of internal controls to match new demands in the financial sector. In addition, management of the banking institutions operating in Zimbabwe should also commit itself in adequately availing financial resources to ensure that the internal audit function performs its tasks without too many obstacles. Further, the study recommended that top management of the sector, especially the CEOs, should not interfere or victimise internal audit officers in the course of performing their mandatory tasks and audit charters should be regularly reviewed and updated so that recent changes in the financial sector are incorporated to improve performance.
Causes of Liquidity Crisis in Zimbabwe after the Adoption of the Multicurrency in 2009
(2019) Chinjova, F.; Zinhumwe, R.
-The study examined the real causes of the liquidity crisis in the banking sector since the introduction of the multicurrency in Zimbabwe. The liquidity crisis continued to harm string the Zimbabwean economy despite the growth in the aggregate money supply (M3) from US$300 million in 2009, following the adoption of the use of multicurrency. During the period under review, the economy registered a peak of 11.9% growth in 2011. However, despite high economic growth rates, banks still failed to supply cheap loans to the productive sectors, a significant indicator of the liquidity crisis. This was worsened by the shortage of cash in 2016. The investigation on the real causes of liquidity crisis adopted a qualitative research method. Data was collected using in-depth interviews. The research concluded that liquidity crisis in Zimbabwe was caused by poor performance of the external sector, mainly the net exports, foreign direct investment, portfolio investment, diaspora remittances as well as foreign borrowing. Failure by the Reserve Bank of Zimbabwe to provide the lender of last resort function, the growing informal sector were also considered to have had a negative impact on the liquidityin the country. To improve the liquidity in the country, the study recommended that the government revert back to the principle of cash budgeting and that there should be an increase in production of local products which should be exported.
Challenges Experienced on Implementing Government Strategies to Revive Manufacturing Companies in Zimbabwe during the Period 2009 to 2017
(2020-09) Chinjova, F.; Magede, M.C.
The study examined the challenges that caused STERP, ZIMASSET and Statutory Instrument 64 to fail to revive the manufacturing sector in Zimbabwe during the period 2009 to 2017. An interpretivism paradigm was adopted in order to generate a lot of data in the field and from the site where participants experienced the problem. The study used a multiple case study design involving 20 manufacturing companies operating in Zimbabwe which facilitated a holistic and in-depth investigation of the challenges that affected the effectiveness of the above policies to produce tangible results. The study unearthed that the major challenges that affected STERP, ZIMASSET and Statutory Instrument 64 are the instability of the political climate, massive mismanagement of manufacturing companies, lack of qualified personnel to lead the manufacturing companies, inconsistent government policies and lack of funding to ensure the success of the policies. Hence, a holistic approach is recommended in order for the policies implemented to be effective
The Characteristics and Constraints of Rural Enterprises
(The International Journal Of Humanities & Social Studies, 2016-12) Mtisi, Samson
This brief review paper discusses the characteristics of rural enterprises and their typical constraints in the rural milieu. In as far as rural enterprises are concerned, there is a thin line of difference between their characteristics and constraints, hence, the combined discussion of both in this paper. The rural business environment itself also contributes to the characterization of rural enterprises and also helps shape some of the associated constraints. Being a review paper, the methodology is basically premised on a literature survey of both theoretical and empirical research papers that characterize rural enterprises as well discussing their constraints. This paper is an extract of a broader literature review undertaken for a PhD study on rural enterprise development. The following constitute the major findings from the literature in as far as characteristics and constraints of rural enterprises are concerned: agriculture/land based enterprises; small and micro businesses; less growth oriented; small size of local market; stiff competition; poor access to finance; poor transportation and communication; lack of skilled labour; low availability of business premises; informality; lack of innovativeness; poor networking opportunities; lack of technology; poor quality products; poor status of local institutions; limited business management skills and low access to business support, among others that are detailed in the paper. This paper is of value in as far as it gives a clear characterization of rural enterprises and their constraints and therefore it can be used for development of rural enterprise support policies in fostering the growth of the rural economy.
The Characteristics and Constraints of Rural Enterprises
(Scholar Publications, 2016-12) Mtisi, Samson
This brief review paper discusses the characteristics of rural enterprises and their typical constraints in the rural milieu. In as far as rural enterprises are concerned, there is a thin line of difference between their characteristics and constraints, hence, the combined discussion of both in this paper. The rural business environment itself also contributes to the characterization of rural enterprises and also helps shape some of the associated constraints. Being a review paper, the methodology is basically premised on a literature survey of both theoretical and empirical research papers that characterize rural enterprises as well discussing their constraints. This paper is an extract of a broader literature review undertaken for a PhD study on rural enterprise development. The following constitute the major findings from the literature in as far as characteristics and constraints of rural enterprises are concerned: agriculture/land based enterprises; small and micro businesses; less growth oriented; small size of local market; stiff competition; poor access to finance; poor transportation and communication; lack of skilled labour; low availability of business premises; informality; lack of innovativeness; poor networking opportunities; lack of technology; poor quality products; poor status of local institutions; limited business management skills and low access to business support, among others that are detailed in the paper. This paper is of value in as far as it gives a clear characterization of rural enterprises and their constraints and therefore it can be used for development of rural enterprise support policies in fostering the growth of the rural economy.
Developing A Conceptual Framework for Assessing Media-Based Brand Equity In Professional Sports Teams
(Exclusive Journal Publishing House, 2015-12) Charumbira, Lysias Tapiwanashe; Stotlar, David Kent
The purpose of this exploratory sequential mixed methods study was to examine the brand perceptions held by media-based consumers of products and services of professional sports teams. The findings were used to construct the Conceptual Framework for Assessing Media-Based Brand Equity in Professional Sports Teams., in an attempt to bridge the gaps in existing sports team brand equity literature, where currently, there is no framework that explicitly addresses sport brand equity from a media-based consumer’s perspective. Practically, the proposed Conceptual Framework sought optimise the use of the media as a brand-building tool and source of revenue by professional sports teams. It conceptualizes “Media-Based Brand Equity” as an aggregate of brand awareness and brand associations. The combined effect of brand awareness and brand associations can generate negative or positive relationships in the marketplace. This explains why professional sports teams that are perceived as strong brands by media-based consumers receive beneficial media coverage .On the other hand, being perceived as having negative perceived brand equity by media practitioners can cripple the ability of professional sports teams to attract beneficial media coverage.
The Effectiveness of the Sports Marketing Strategies Used by Zimbabwean Collegiate Sports Federations
(International Journal of Marketing and Business Communication, 2014-07) Charumbira, Lysias Tapiwanashe
The study was conducted to determine the effectiveness of sports marketing strategies used by Zimbabwe’s four collegiate sports federations. Its ultimate aim was to increase knowledge on how local sports marketers can use marketing strategy to develop brands which resonate with customers. Fitting with the phenomenological approach, Yin’s (2003) model for comparative case studies using multiple sources was adopted. This explains why a methodological triangulation of semi-structured questionnaires, focus group discussions, and document analysis was used to collect data from the presidents of the federations and 67 purposively sampled users of their brands. Mixed methods research data analysis procedures were used to analyze data and descriptive statistical measures were used for data display. The findings show that Zimbabwean collegiate sports federations are using ineffective and inappropriate sports marketing strategies. This explains why the levels of brand resonance equity in the industry are low.
Explaining the Market Acceptance of Artificial Sweeteners in a Developing Country: Evidence from Female Young Adults in Zimbabwe
(2020) Ndofirepi, T.M.; Mamsa, N.; Rambe, P.
This paper examines whether a proposed set of factors explains consumers’ acceptance of artificial food sweeteners in a selected developing country. A quantitative cross-sectional survey was conducted on 938 female respondents aged between 18 and 24 who resided in the three largest cities in Zimbabwe (i.e., Harare, Bulawayo, and Gweru). Data collected in 2019 and 2020 were analyzed using partial least squares structural equation modeling. The ‘health consciousness’ and ‘preference for natural products’ variables had a significant negative predictive influence on the ‘acceptance of artificial sweeteners’ variable. However, ‘trust in regulators’ had a positive effect on the same outcome variable. Moreover, the ‘negative attitude toward sugars’ variable significantly moderated the relationship between ‘preference for natural products’ and ‘acceptance of artificial sweeteners.’ These find ings have fundamental practical implications related to the marketing of food innovations in Zimbabwe where deceptive marketing strategies continue to threaten consumers’ welfare and affect their receptiveness to new products
Gendering the voiced complaining behavior of customers in small restaurant environments: A case of college students in Zimbabwe
(2020) Ndofirepi, T.M.
Understanding gender-related nuances connected to customer complaining behavior in a valuable market segment in a low-income economy is strategically important to customer relationship management practitioners in the hospitality industry. Using customer complaining behavior taxonomies and Eagly’s social role theory, this quantitative study examines how selected demographic variables, attitude toward complaining, customer loyalty, and likelihood of success affect the verbal complaining behavior of a sample of college students in Zimbabwe in restaurants contexts. The findings revealed that all the proposed predictors had statistically significant effects on voiced complaining. In addition, the gender variable moderated the influence of the non-demographic predictors. Interestingly, the likelihood of success variable had a negative influence on the respondents’ propensity to complain verbally. Based on this evidence, it is concluded that gender is integral to how college students react to service failure in restaurant environments. Consequently, marketers of related services should implement customized gender-sensitive customer complaint handling and service recovery strategies
How spatial contexts, institutions and self-identity affect entrepreneurial intentions
(2020) Ndofirepi, T.M.
Purpose– This study aims to examine how spatial contexts, institutions and entrepreneurial self-identity affected the formation of entrepreneurial intentions of a sample of students in Zimbabwe. Design/methodology/approach– Data were obtained from 284 students enrolled in two vocational education institutions located in Midlands Province of Zimbabwe. To select the respondents, convenience sampling was used. The sample size was determined by the total number of students agreeing to participate in the research. Hypotheses were tested using structural equation modelling (maximum likelihood estimation method). Findings– Social approval, supportive cultural environment and entrepreneurial self-identity had positive statistically significant direct effects on entrepreneurial intentions. Also, entrepreneurial self-identity partially mediated the effects of social approval and supportive cultural environment on entrepreneurial intentions. The total effect of supportive higher education institutions on entrepreneurial intentions was statistically significant, despite the direct and indirect effects being non-significant. Practical implications– The findings suggest a need to cultivate supportive social contexts and higher education institutions for nurturing entrepreneurial self-identity and entrepreneurial intentions, factors that are integral to the development of future entrepreneurs. Originality/value– The study examined the validity of a novel conceptual model based on the contribution of entrepreneurial self-identity, spatial context and institutional variables in shaping entrepreneurial intentions of selected college students in the global south.
An Investigation of Corporate Financial Strategies Used by Banking Institutions during the Hyper-Inflationary Period in Zimbabwe
(MCSER Publishing, 2013-11) Mhlanga, Richard; Sibanda, Mabutho
The corporate investment and financing decision plays a pivotal role in the financial management of firms operating under any economic environment. This paper investigates and analyses corporate financial strategies employed by banking institutions during the hyperinflationary period in Zimbabwe. Descriptive statistics are employed and the results show that activity was high in the market for corporate control between 1997 and 2007. Despite economic meltdown and inflationary trends, evidence suggests that the banking industry in Zimbabwe recorded a phenomenal increase in public listings during the same period. Other capital raising activities like venture capital funding, rights issues and debt finance have also been extensively used by the banking industry. Dividend policy amongst most banking institutions showed a significant decline towards 2007 as banks sought to retain funds to sustain operations. These findings provide a view that firms follow a life cycle in the determination of the optimal investment and financing decisions even when operating in an uncertain environment. The paper concludes by suggesting several strategies to improve financial soundness of banks operating in an inflationary environment.
Online Home Schooling: Are Parents Ready? Lessons from the Corona Virus Disease Induced Lock Down
(2020-09) Gwendoline, N.; Sibanda, L.
The outbreak of the corona virus disease (COVID-19) in China around December 2019 led to the premature closure of schools globally. This was done to ensure reduced transmission of the disease. Due to the indefinite level two lockdown in Zimbabwe, schools remain closed. This has led to online home schooling, where schools send work to parents who conduct and monitor the lessons on their behalf. This study sought to find out the experiences and readiness of parents in Bulawayo Metropolitan Province, Zimbabwe, who were expected to conduct lessons online. The study which is situated in the interpretive paradigm and qualitative approach collected data from ten purposively selected parents as key informants. Qualitative data was collected using emailed open-ended questionnaires in compliance with COVID-19 regulations. Results revealed that parents found it difficult to conduct online lessons due to costly data, lack of expert knowledge and teaching pedagogy, unclear instructions from teachers, unavailable or shared gadgets at home and poor internet connectivity. Schools were also said to be piling up work, disregarding parents’ other responsibilities. Conclusions drawn were that most of the parents were not ready for online home schooling although they perceived the exercise to be beneficial. Recommendations were that schools should conduct training sessions for staff and parents, have formal feedback sessions and exercise flexibility for execution and submission of work and continue online lessons post COVID-19. Further research could be conducted to find out learners’ perceptions of online home schooling.
Perceived Brand Equity in Professional Sports Teams: A Zimbabwean Consumers’Perspective
(Asian Business Consortium, 2015-09-18) Charumbira, Lysias Tapiwanashe
The study explored the antecedents, dimensions and market consequences of the brand perceptions held by Zimbabwean consumers for professional football teams and developed a strategic brand management framework that can bridge existing practical and theoretical knowledge gaps in the management of sports brands in the country. The study was grounded on the exploratory sequential mixed methods research design. In the qualitative strand of the study, data was collected by means of such qualitative data collection procedures as, free-thought listing, semi-structured interviews and focus group discussions. The findings from the qualitative phase were used to generate data collection instruments for questionnaire survey and assess the overall prevalence of the variables that were identified in the first phase from a large number of users of football brands. The NVivo 10 and SPSS version 21.0 software packages were used to analyze qualitative and quantitative data, respectively. The study identified and classified the antecedents of brand perceptions held by Zimbabwean consumers for professional sports teams into consumption experience-trigged antecedents, significant others-triggered antecedents and sports entity-triggered antecedents. The results show that fan loyalty trends for local professional football teams function in tandem with the ethnic identity systems in the country. However, the globalization of football has led to the dilution of national particularities in the game. The findings support the conceptualization of perceived brand equity in as an aggregate of brand awareness and brand associations. Zimbabwean consumers of football brands perceived European professional football teams as the market leaders in their brand category .South African professional football teams were ranked second and Zimbabwean professional football teams were positioned at the bottom of the brand leadership rankings in the minds of Zimbabwean consumers of football brands. The study illustrated how the brand the perceptions held by Zimbabwean corporate and individual consumers for professional football teams have generated negative and positive market consequences.
Relationship between entrepreneurship education and entrepreneurial goal intentions: psychological traits as mediators
(2020) Ndofirepi, T.M.
Despite the commonly held view that entrepreneurship education and training nurtures future entrepreneurs, little is known about the mechanism through which this intervention impacts on its intended outcomes. The purpose of this study was to test if selected psychological traits (need for achievement, risk-taking propensity, internal locus of control) mediated the predictive relationship between the perceived effects of entrepreneurship education and entrepreneurial intentions. A crosssectional survey of a sample of 308 vocational education students in Zimbabwe was used for this purpose. The results show that the effects of entrepreneurship education variable had a positive and statistically significant relationship with need for achievement, risk-taking propensity, internal locus of control and entrepreneurial goal intentions. Moreover, need for achievement, risk-taking propensity and internal locus of control accounted for a statistically significant amount of variance in entrepreneurial intentions. However, of the three psychological traits, only need for achievement partially mediated the relationship between the effects of entrepreneurship education and entrepreneurial goal intentions. The outcome has implications on the design and focus of entrepreneurship education programmes.
Relationship between entrepreneurship education and entrepreneurial goal intentions: psychological traits as mediators
(2022) Ndofirepi, T.M.
Despite the commonly held view that entrepreneurship education and training nurtures future entrepreneurs, little is known about the mechanism through which this intervention impacts on its intended outcomes. The purpose of this study was to test if selected psychological traits (need for achievement, risk-taking propensity, internal locus of control) mediated the predictive relationship between the perceived effects of entrepreneurship education and entrepreneurial intentions. A crosssectional survey of a sample of 308 vocational education students in Zimbabwe was used for this purpose. The results show that the effects of entrepreneurship education variable had a positive and statistically significant relationship with need for achievement, risk-taking propensity, internal locus of control and entrepreneurial goal intentions. Moreover, need for achievement, risk-taking propensity and internal locus of control accounted for a statistically significant amount of variance in entrepreneurial intentions. However, of the three psychological traits, only need for achievement partially mediated the relationship between the effects of entrepreneurship education and entrepreneurial goal intentions. The outcome has implications on the design and focus of entrepreneurship education programmes.
Strategic Management in Zimbabwean Profit and Non-profit Organizations: Identifying the Missing Tools in the Strategy Implementation Kit Bag
(CC-BY-NC, 2014) Charumbira, Lysias Tapiwanashe
The purpose of this study was to identify the determinants of strategic success or failure in Zimbabwean Profit and Non-Profit Organizations. The convergent parallel mixed methods research design was adopted as the guiding model for the data collection, analysis and interpretation process in this study. This explains why data was collected through a concurrent parallel methodological triangulation of questionnaires, semi-structured interviews, and document analysis. Quantitative data was analyzed using the Statistical Package for Social Sciences (SPSS) version 21.0 while the analysis of qualitative data was performed using the NVivo 10 data analysis software. The study established that there is a high rate of strategy implementation failure in Zimbabwean Profit and Non-profit Organizations. The failure to build the distinctive competences and resource capabilities needed for successful strategy implementation was identified as the main cause of strategic failure in these Organizations
Suggested Approaches to Achieve Effective Implementation of Strategies to Revive Manufacturing Companies in Bulawayo Metropolitan Province.
(2020-08) Chinjova, F.; Chiramba, T.; Ncube, P.
The study examined issues that need to be addressed by the Government of Zimbabwe before they could implement strategies to revive the manufacturing sector in Bulawayo in order for the strategies to produce tangible results. An interpretivism paradigm was adopted in order to generate a lot of data in the field and from the site where participants experienced the problem. The study used a multiple case study design involving 20 manufacturing companies operating in Bulawayo which facilitated a holistic and in-depth investigation of the issues that need to be taken into account in order to ensure effectiveness of the strategies implemented to revive the manufacturing sector in Bulawayo. The findings of the study were that the Government needs to address corruption, avail funds to manufacturing companies, review investment laws, improve the supply of water and electricity in Bulawayo, introduce cheap mode of transport to the manufacturing sector, review the Indigenisation and Empowerment Act, review tax laws and allow manufacturing companies to procure their own fuel from neighbouring countries
The Role of Intrapreneurship on the Growth of Iron and Steel Manufacturing Companies in Bulawayo, Zimbabwe
(2020-02) Madzikova, A.; Nani, G.V.
This study sought to find out the role of intrapreneurship on the growth of iron and steel manufacturing companies in Bulawayo, Zimbabwe. A post-positivist paradigm, a mixed method approach and a cross sectional design were adopted for the investigation. Three hundred and fifteen (315) middle management and supervisory staff drawn from twenty-two (22) iron and steel manufacturing companies in Bulawayo participated. Multiple stratified random sampling and heterogeneous purposive sampling were used to choose two hundred (200) respondents for the quantitative study and eight participants for the qualitative study respectively. Questionnaires and in-depth interviews were the data collecting instruments for quantitative and qualitative data respectively. Quantitative data was analysed using descriptive and inferential statistics and qualitative data was thematically analysed. Findings revealed that innovativeness, proactiveness, and risk taking were the key dimensions of intrapreneurship. Both quantitative and qualitative analyses showed the prominent measures of company growth in the iron and steel manufacturing companies as financial, employee numbers, productivity, and product range. Statistically intrapreneurship was found to be correlated to the growth of the iron and steel manufacturing companies. The study drew the following conclusions. Firstly, intrapreneurship is not a preferred strategy for driving growth in the iron and steel manufacturing companies in Bulawayo. Secondly, financial and product range were identified as the key measures of company growth. Thirdly, company support for intrapreneurship and individual’s intrapreneurial disposition were statistically linked to company growth. The study recommended that companies should motivate and support employees’ innovativeness, proactiveness, and risk taking through ideas, actions and work. Measurement of company growth should be expanded to include qualitative measures.
The Role of Management Accounting Practices in Strategy Implementation by Small and Medium Enterprises in Manufacturing Sector in Bulawayo Metropolitan Province
(2020-09) Chinjova, F.; Msipha, E.
The study sort to establish the role of management accounting practices in strategy implementation by SMEs in manufacturing sector in Bulawayo Metropolitan Province. The research was motivated by the fact that SMEs in manufacturing sectors in Zimbabwe are facing a host of challenges which includes failure to adopt prudent accounting practices in their strategy implementation. An explanatory study in which a survey research design was adopted. The major finding was that SMEs were willing to adopt management accounting practices in their strategy implementation, but were constrained by a number of challenges that included a volertile economic environment, ever changing government policies as well as lack of financial resources.
Towards a Profitable Pricing Strategy for Rural Women Indigenous Chicken Breeders: A Case of Rural Village in Zimbabwe
(2020-08) Nani, G.V.; Ronney, C.
Indigenous chickens contribute towards poverty reduction, income generation and economic empowerment of rural women. In this regard, employment of a profitable pricing strategy in selling the indigenous chickens becomes fundamental. This study sought to find out the pricing strategies used by rural women indigenous chicken breeders in one purposively selected village in Zimbabwe. An interpretivist paradigm, a qualitative approach and a case study design were employed to examine the issue under review. Seventeen rural women indigenous chicken breeders were key informants. Data collected using semi structured questionnaires and face to face interviews was analysed to discern themes. Results revealed that rural women indigenous chicken breeders did not apply any pricing strategies when selling their chickens. Prices were approximated based on mainly the weight of the chickens. The study concluded that rural women indigenous chicken breeders were ignorant of pricing strategies and factors to consider when determining, prices for their chickens. Further to that, ignorance of appropriate pricing strategies exposed rural women indigenous chicken breeders to exploitation and loss of revenue. In light of this, the study recommended that workshops be conducted by personnel with an accounting background, to train rural women indigenous chicken breeders on the factors to consider in determining profitable prices for their indigenous chickens. The contribution of this study lies in the development of a framework of factors which rural women indigenous chicken breeders could use as a reference point when determining prices for their indigenous chickens.

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