Assessing fertilizer buying behavior of emerging farmers in a South African grain producing area

Given the rapid and sustained growth of Aspen over the past decade, the main aim of this study is to identify and analyze the growth strategies, adopted by Aspen over the period from 2004 to 2014. The research method used was a descriptive study through a single case study of Aspen by analyzing secondary data in the form of publicly available company reports and presentations, as well as financial results, issued between 2004 and 2014. The study finds that, guided by strategic and visionary leadership, Aspen adopted a number of growth strategies including (i) organic growth, as a key factor in creating incremental value for Aspen and its stakeholders, (ii) inorganic growth, in the form of carefully planned and well executed acquisitions, aligned to the Group strategy, (iii) extending territorial coverage through global expansion, particularly into emerging pharmaceutical countries, and (iv) ongoing investment in production capabilities as a means of achieving a strategic advantage. Despite the challenges of intense competition, restrictive legislation, pressure on medicine prices, currency volatility and market specific risks, Aspen has delivered double-digit earnings growth to its shareholders for 16 consecutive years.

Even though a lot of attention has been directed towards risk management, disruptions are inevitably present within supply chains and should therefore be successfully managed if organizations are to thrive in today’s ever-changing world. How organizations respond to these disruptions has an impact on the relationship between the parties involved. This study explored what factors influenced buyer-supplier relationships in either a strengthening or weakening manner within a disruption context. A generic qualitative research approach was used to gather data by conducting semi-structured interviews with 24 participants that consisted of 3PLs and clients who have experienced a recent disruption between each other. This study reported on the relational factors within pre-, during- and post- disruption phases. A total of 18 strengthening factors were identified with the majority being classified into the during-disruption phase. The factors that added to existing disruption literature included having a mutual business understanding, problem solving ability and an introspective focus when resolving disruptions. Twelve weakening factors emerged from the data. Common business problems, a lack of, or weak prior relationship, no mutual business understanding and the occurrence and late detection of the disruption are novel findings. Practitioners gain value from this study as it equips them to manage supply chain disruptions successfully by highlighting important strengthening and weakening relational factors to consider when working with supply chain members to resolve disruptions. The study contributes to the body of knowledge by being one of the first empirical studies conducted on the relational effects of supply chain disruptions in a developing country context.

In order to ensure profitability for shareholders, optimal contracting recommends the alignment between executive compensation and company performance. Large organizations have therefore adopted executives remuneration systems in order to induce positive market reaction and motivate executives. Complex compensation schemes are designed by Boards of Directors using strong pay-performance incentives that explain high levels of executive pay along with company size, demand for management skills and executive influence. However, the literature remains inconclusive on the pay-performance relationship owing to the various empirical methods used by researchers. Additionally, there has been little effort in the literature to compare methodologies on the pay-performance relationship.
Using the dominant agency theory framework, the purpose of this study is to establish and examine the relationship between firm performance and executive pay. In addition, it intends to assess the characteristic of model specifications commonly adopted. To this aim, a quantitative analysis consisting of three complementary methods was performed on panel data from South African listed companies. The results of the main unrestricted first difference model indicate a strong non-linear relationship where the impact of current and previous firm performance on executive pay can be observed over 2 to 4-year period providing support to the optimal contracting theoretical perspective in the South African business context. In addition, CEO pay is more sensitive to firm performance as compared to Director pay. Lastly, although it affects executive pay levels, company size is not found to improve the pay-performance relationship.