The transformation of ideas into economic opportunities is the crux of entrepreneurship. History shows that pragmatic people who are entrepreneurial, creative and innovative, able to exploit opportunities and willing to take risks, have significantly advanced economic progress. For example, the USA gets more than half of its economic growth from industries that barely existed a decade ago. This is directly attributable to innovative entrepreneurs and their start-up businesses.

Entrepreneurs can produce new solutions to old problems, and they always challenge the status quo. Entrepreneurs are risk-takers who pursue opportunities that others may fail to recognise or may even view as problems or threats. Entrepreneurs are closely associated with change, creativity, knowledge, innovation and flexibility, which are all factors that are increasingly important sources of competitiveness in an increasingly globalised world economy. Therefore, fostering entrepreneurship means promoting the competitiveness of businesses.

At a macro-level private sector development and entrepreneurship development are essential ingredients for achieving the United Nations Millennium Development Goal of reducing poverty. While sound macroeconomic policies and providing market access are crucial, emerging markets need to nurture and develop entrepreneurs able to take advantage of the opportunities created by globalisation.

At a national level, entrepreneurs can play a vital role in the economic development of the country and the social upliftment of its people. As with the rest of the private sector, entrepreneurial development is a powerful engine of economic growth and wealth creation, and crucial for improving the quality, number and variety of employment opportunities for the poor. Economically, entrepreneurship invigorates markets. The formation of new business leads to job creation and has a multiplying effect on the economy. Socially, entrepreneurship empowers citizens, generates innovation and changes mindsets. These changes have the potential to integrate developing countries successfully into the global economy.

Business is a cut-throat environment. Even with an excellent idea or brilliant marketing plan, there is no guarantee of success. Besides having innovative ideas and the willpower to succeed, you need sound management and business skills, and you need to know how to apply the best business practices, whether you are an entrepreneur or professional manager.

A business is fundamentally a cash-oriented process. This means that its ideas, image or products, no matter how remarkable, are still not as important as the ability to earn an income to stay afloat and have a reliable and accessible cash flow. A manager must be able to keep track of all income, expenses, assets the business owns and the cash flow. Poor fiscal management and inadequate accounting practices produce weak or incorrect information, preventing management from making well informed decisions or adapting adequately to changes in the environment.

Basic Financial Management is written to answer the question: What does ANY manager or entrepreneur need to know to guarantee sound financial management?

This tenth edition of Hockly’s Insolvency Law has been renamed Hockly’s Law of Insolvency, Winding-up and Business Rescue to reflect the changes to the three main fields that it discusses.

Features distinguishing this tenth edition include these:

• Developments over the last ten years since the previous edition are summarized, including the statutory changes and the decisions of the Constitutional Court and the Supreme Court of Appeal and leading decisions of the High Court.
• In particular, business rescue is now discussed in three chapters, and the company’s compromise with its creditors is discussed in its own separate chapter.
• The introduction encourages readers to consider the need for reforming insolvency law in the 21st century, to read the law with a critical and creative eye, and to ponder the policy choices to be made.
• Chapter 7 on uncompleted contracts has been rearranged, opening with a pigeonholing approach to analysing contracts, followed by a statement of the supporting common law and a discussion of a series of specific contracts analysed according to which of the contractants is now in sequestration or liquidation.
• The text is even more accessible, with extra explanation for readers with limited library access, and the book is available as an e-book.
• Learners with a strong visual sense are shown examples of diagrams and timelines to help analyse complicated sets of facts and apply complicated provisions to them. It is recommended that they should identify the debtor in red in their diagrams.

The Law of Business Structures provides a comprehensive but simplified treatment of the different types of business structures in South African law. Partnerships, business trusts, close corporations and companies, whether large or small, whether profit-making or non-profit-making, are discussed. This includes modern corporate governance best practices and even an updated analysis of insider trading and market manipulation. The proposed new Companies Amendment Bill of 2021, which was published when this new edition was nearing completion, is also discussed wherever relevant.

In the nine years since the publication of the first edition of The Law of Business Structures, there has been extensive judicial development of many provisions of the Companies Act 71 of 2008. This second edition has been updated to include a discussion and analysis of the leading cases on the subject. Much of the material on this subject, particularly company law, has been updated. The prime, original aim of keeping complex theoretical analysis and debate to a minimum has been retained.

A highlight of this book is that legal doctrines and principles are expounded in a lucid and coherent way and stated, wherever possible, in simple terms.

How does the South African economy work? Why do macroeconomic variables change? So what if they do? What happens next? How do economic processes and policy institutions really work? Which data must I use? What can policy do? And then the big questions: How can we reduce unemployment and maintain low inflation? What then about poverty, inequality, inclusive growth and development in South Africa?

The answers are found in How to think and reason in Macroeconomics – A South African text, a popular university textbook with very positive feedback from students, lecturers and practitioners. This fifth edition is completely up-to-date and comprehensive. It combines well-informed intuitive understanding with solid economic theory plus a concrete understanding of South African economic issues, processes, institutions and data. In this way it prepares you to analyse macroeconomic events and policies in a globalised and development context – and understand different perspectives in policy and political-economic debates.

Key features:

• Accessible analysis, theory and diagrams, combining intuitive understanding and sophisticated analysis.
• A choice of learning routes with different levels of difficulty and mathematics.
• Real-world economic reasoning skills, not dry theory.
• Online animations that provide unique insights into macroeconomic fluctuations and shocks.
• Explicit continuous focus on South Africa as an open economy in an African and global context shaped by China, Trump’s trade wars and Brexit.
• Theoretical and policy analysis of unemployment, inflation, low growth and inclusive growth, as well as the National Development Plan.
• Analytical case studies of the global financial crisis, quantitative easing, the Euro crisis and the Eskom crisis.
• First-hand, freshly updated insights into how South African policy institutions, processes and instruments work.
• Clear guides to access relevant South African data sources, with useful data tips.
• Thorough integration of the structural social and economic realities (notably inequality and poverty) of South Africa as a middle-income country.
• Incorporation of broader considerations such as human development, inclusive growth and sustainable development.

Modern day organisations are more dependent on communication to achieve success than ever before. Rapid development and greater complexity of communication technologies, and the growing importance and popularity of social media, means that organisations can no longer rely on traditional methods alone to engage in effective business communication. Social media and new communication forms, however, come with their own challenges and pitfalls. Organisations need to carefully and strategically consider the use of these new media as part of their effective communication plan.

Effective Business Communication 5th edition builds on traditional communication forms with up-to-date theory. It discusses new communication trends and the changing nature of communication in businesses. This edition illustrates the effective use of various new media sources and their application in the workplace, the challenges of using these media and the appropriate ways in which they can be incorporated into effective business communication practices within the organisation.

Effective Business Communication 5th edition provides widespread principles for communicating in the organisational context. The book has support material containing questions, case studies and activities. This edition therefore provides students, lecturers and business communicators with a comprehensive and practical reference guide to communication in the workplace.

Relationship Marketing and Customer Relationship Management (CRM) have become important tools in securing the survival of businesses in the new millennium by considering both external customers and employees (internal customers). CRM enables businesses to provide excellent realtime customer service through the eff ective use of digital technologies. CRM will evolve to become more aligned to customer management practices both internal and external to the business as well as to embrace Industry 5.0.

Both internal and external customers are increasingly using smart phone devices to engage with organisations, highlighting the importance of digital relationships and technologies. Relationship marketing acknowledges the importance of other stakeholders and the building of relationships with these groups. Relationship Marketing and CRM will therefore have to secure state-of-the-art customer and relationships management strategies delivered to all its customers through the development and implementation of these CRM strategies.

Key topics covered in this book:

• The nature of Relationship Marketing and Customer Relationship Management
• Building relationships, including online relationships
• Service issues in Relationship Marketing and Customer Relationship Management
• Internal marketing
• Business-to-business marketing relationships
• Stakeholders in Relationship Marketing
• Planning and organising a CRM strategy
• Implementing Customer Relationship Management (CRM) in an organisation

  This newly updated South African book was written to compliment students at both undergraduate and postgraduate level and is therefore both highly informative and practical in its approach. It will also further inform practising marketers about the complex world of RM and CRM and new developments in the field.

Why is the South African banking industry regarded as one of the best in the world? How is it structured? How did it avoid collapse during the global financial crisis of 2007-2009? Bank Management in South Africa: A risk-based perspective is the first textbook for the South African market to answer these questions. It provides a comprehensive overview of the way banks and their financial risks are managed. The book is divided into five parts: Part One introduces the business of banking by discussing the evolution of financial intermediation theory; Part Two deals with the structure, history, performance and regulatory environment of the South African banking industry; Part Three considers how banks report and measure their performance; Part Four focuses on how banks identify, quantify and manage financial risks; Part Five deals with the management of the asset book, liability book and, importantly, the capital adequacy requirements set by the Basel Committee on Banking Supervision.

Written from a uniquely South African perspective, Human Resource Management in Government explores many facets of the employment relationship, including strategic employment processes, workforce planning, talent management, trade union interactions, public sector labour relations and terminating employment relationships.

Features:

• The latest local and international applied research and practice;
• Insight into the public human resource management functions;
• Best practices in talent management;
• Trends and best practices in human resource management in the public sector in other African and developing countries;
• Topical and current information that encourages continuous self evaluation; and an interactive structure with activities, questions, research reports and the latest court decisions related to the HR field; and
• Three new themes were added to this edition to make the book even more relevant to the reader, namely the influence of the 4th Industrial revolution, green demands on the public employer and decolonisation.

Business Cases from South African Companies is an engaging collection of case studies dealing with real-life businesses. Written by business owners, the stories are unique and inspiring to students, practitioners and would-be entrepreneurs. Owners, entrepreneurs and corporates (from SMMEs to larger companies) share their frustrations, successes, and challenges on starting and running successful businesses.

Key Benefits:

• Case studies written by the business owners themselves, in their own words
• Methods used to segment the market, making advertising decisions, the importance of customer service, niche markets, social responsibility and addressing customer issues are all discussed
• Aspects such as staff issues, purchasing, management and management issues, marketing, branding, co-branding, business growth, research, market segmentation and research are covered comprehensively

This revised and updated second edition of Channel Management (previously titled Distribution Management) focuses on the basics of product distribution as part of the marketing mix and explains the choices and strategies involved in choosing distribution channels.

Channel Management 2e clearly describes how distribution strategies need to coordinate the activities and aims of the producer or manufacturer and various intermediaries in order to bring products and services to buyers at the right time, at the right place and in the right quantity.

Change is the distinguishing characteristic of the business environment across the world and it affects how contemporary organisations operate. While organisations need to do more with less, they also have to satisfy the needs of their customers who, with more exposure to local and global markets, have higher expectations relating to the cost, quality, speed and innovation of the services and products they purchase from these organisations. In response to the changes in their business environment, organisations are becoming flatter, networked, global, more flexible and diverse and managers have to acquire the skills to face the challenges associated with these features.

The contemporary management principles offered in this publication integrates discussions on vital managerial competencies and skills with information on traditional and essential managerial concepts that have been effective in the past and are still relevant. The first part of the book deals with the evolution of management theory, the management process, and the features of contemporary organisations.

The next six chapters deal with the internal environment of contemporary business organisations, including a discussion on the composition of the management environment; managing change, corporate culture, power, politics conflict resolution and negotiation; business ethics; CSR and corporate governance; and workforce diversity. The rest of the chapters focus on the management functions of planning, organising, leading and control. An additional chapter deals with the role of management in the implementation of project management and a second chapter provides an overview of organisational value chains and the impact of electronic media and e-business on organisational efficiency and effectiveness.

The authors of Contemporary Management Principles are experienced lecturers in the field of business management from various universities in South Africa and Africa.

The second edition of Corporate Governance In South Africa addresses the changes in the corporate governance landscape in South Africa brought about by the King IV Report on Governance for South Africa, 2016 and changes to several international codes.

Corporate Governance In South Africa covers the following areas: the corporate governance framework in South Africa, comparisons with various international corporate governance frameworks, and contemporary governance issues. The book also offers a corporate governance implementation guide.

Examples of failed corporate governance practices, both local and international, are provided throughout the book, seeking to illustrate the importance of effective corporate governance practices by companies.

Most of the research into what constitutes effective leadership emanates from the United States and is not very useful in an African context. Africa is a continent of extraordinary cultural, geographic, economic and political diversity, featuring largely emerging economies and rapid political economic and social development. This book seeks to set leadership theory in the African context.

It takes into account typical African circumstances, values and beliefs, designed for the development of leaders' skills and provides practical, real-life examples, exercises and case studies. As well as an overview of the extensive research literature about leadership, the book provides practical, real-life examples, exercises and case studies, so it can be used in a range of management development courses and/or leadership course or workshops.

The detailed insights into, and information about, how leadership can be effectively applied in the contemporary African context should help to enhance readers' leadership skills.

From 1 May 2011 company law in South Africa was dramatically altered: the 1973 Act which had governed companies for the life-times of most business people and lawyers in South Africa was replaced by the Companies Act of 2008, as amended in March 2011.

A new era of company law dawned, and with it a host of new concepts, rights, remedies, obligations, procedures and sanctions were introduced. These fundamentally affect the way that every business operates and the advice and practice of every lawyer, accountant or other professional adviser.

This title, the first to cover the new Act and the new regulations, provides the hand-holding, the insight, and the understanding that business and their advisers require in order not to be wrong-footed by the new regime.

Business-to-Business Marketing is the first B2B marketing book in South Africa written by local academics. Its content therefore includes material to which South African students of B2B marketing can relate more easily. This book is about businesses marketing their products and services to other businesses and covers concepts related to this environment. It gives valuable insights into business-to-business marketing management, as well as analysing B2B buying practices, supply chain management, the selection of business customers and the development of a B2B marketing strategy. It provides readers with an understanding of what B2B marketing is and how it differs from business-to-consumer (B2C) marketing. The book has a strong theoretical basis, while also exploring many case studies from a South African perspective.

Entrepreneurship is a dynamic process constantly evolving through innovation, in that entrepreneurs devise profitable products and services that did not previously exist. This process requires entrepreneurs to have major skills in different business areas.

This book is about entrepreneurship in the South African business environment, and about the entrepreneurial process. It highlights three main aspects, namely: the entrepreneurial part of starting and running a business; the marketing of products and services; and the financial aspects of a profitable and sustainable business.

Key Aspects:

• Entrepreneurship
• Marketing
• Finance

Dynamics of Entrepreneurship is aimed at undergrad students in the field as well as anyone planning to enter the world of entrepreneurship.

The purpose of Niche Tourism is to provide students with foundational insight and practical understanding of the various types of niche tourism sectors within southern Africa. Each of these uniquely established niche tourism sectors contributes towards the development of the southern African tourism product and service offering and attracts large volumes of tourists annually to southern Africa.

Niche tourism has grown and expanded into various formats over the past few years. Within southern Africa there are unique tourism establishments that showcase how these niche tourism establishments contribute towards growing the economy, uplifting local communities, and conserving the natural and cultural heritage of southern Africa.

The tourism industry in southern Africa offers various entrepreneurial opportunities for tourism graduates. The aim of this textbook is to provide students with a strong theoretical foundation on the respective niche tourism segments supported with current practical examples of how these niche tourism sectors operate, to enable graduates to establish their own niche tourism establishments. In doing so, graduates would be able to not only contribute towards the regional economy of southern Africa but also enable the resolution of socio-cultural challenges whilst conserving and protecting both the natural and cultural heritage of southern Africa.

The advent of globalisation, and the rise of entrepreneurialism and the virtual office, make the ability to communicate independently and effectively increasingly valuable. Against a background of technological innovation, this fourth edition of The Communication Handbook sets out the principles underlying effective communication today and then focuses on their application, enabling students in all fields of study to develop and refine their reading, listening, speaking and writing practices.

Events Management 4e helps organisers embrace the multi-dimensional nature of events management and cultivate organisers’ leadership skills and attitudes.

The fourth edition consists of:

• real life event scenarios illustrations;
• combination of theoretical principles and practice;
• case studies demonstrate real-life issues and provide a framework for discussion;
• resource lists providing further reading at the end of each chapter; and
• end-of-chapter discussion questions draw out various issues

The Law Of Banking And Payment In South Africa provides an explanation of some of the more important aspects of the law applicable to banks and banking in South Africa, along with the principles that govern payment and payment systems in this country.

The Law Of Banking And Payment In South Africa covers the following areas: a general introduction to banks and banking law; the nature of banking law and its sources; the role and function of the Reserve Bank and the various statutes that regulate banks; the bank–customer relationship; miscellaneous banking services provided by banks; general principles of payment; the law applicable to various payment systems; unauthorised cheque payments and unauthorised electronic funds transfers; international sale transactions; and bank guarantees.

The aim of the authors is to provide a text that is both accessible for students and other persons seeking to gain a basic understanding of the subject, and comprehensive enough to be useful to lawyers, bankers and those who work in the field of banking and finance.

Have you ever wondered how prices are determined, or why you bought a specific quantity of something? The answers to these and other questions, as well as the theories guiding decisions by consumers and producers, are explained in Microeconomics— a southern African perspective.

This book provides a comprehensive introduction to microeconomics theory, offering traditional theories of consumer and producer behaviour set against a contemporary southern African background.

This second edition of Microeconomics – a southern African perspective provides a comprehensive and current introduction to microeconomic theory for the southern African context, while retaining the original ethos from the first edition. It addresses traditional theories of consumer and producer behaviour as prescribed in most introductory microeconomic modules and answers questions around how consumers and producers interact in the market, looking specifically at the choices made by producers in their endeavour to produce optimally.

Suitable for introductory semester-based courses in microeconomics, it facilitates learning through activities and self-evaluation exercises at the end of each chapter, with feedback to activities and answers to the exercises at the end of the book. The study of economics provides the tools for analysis and a framework for thinking that can aid you in making more informed decisions when faced with economic problems, making it suitable for economics students or those requiring an understanding of the economy within a specific financial field.

Business as usual’ is not a sustainable strategy in the 21st-century workplace. Organisations have to adapt in order to thrive in the contexts of a transforming South Africa and increasing exposure to the global economy.

South African and African organisations need interventions based on international knowledge and best practices but supplemented with African research and application. In Fundamentals of Organisation Development and Change Management, the authors have combined their extensive local and international experience in the practice of organisation development and change management to present the student, manager and science practitioner with the fundamentals they need to facilitate change initiatives.

Key Features/ Benefits:

• Approaches to organisation development and change management
• The differences between organisation development and change management classic organisation development models and theories, combined with latest developments in the field
• A practical, structured approach to change managementcase studies in the South African context enriched learning activities throughout the text with added reflective questions, multiple choice questions and case studies at the end of each chapter.

The book covers the core concepts of organisation development with a good balance between theory and application, and is accessible to the novice student, manager and science practitioner of OD. Although the practice of organisation development is growing rapidly in South Africa and neighbouring countries, the lack of academic books on the subject for undergraduate students to serve as a foundation in this field poses a challenge. The aim of this book is to address this gap.