Local economic development: Policy and practice in South Africa

The policy of local economic development (LED) is currently attracting considerable attention in government and development circles in South Africa. This article seeks to critically examine and assess the key contextual considerations which influence LED, its emergence and its chances of success. In this regard, the notions of post‐Fordism and the important role of government are examined. It then outlines and assesses evolving LED policy and practice in the country in the light of current experiences in various centres. The article concludes with an examination of various practical considerations which appear to be affecting the further application of the concept in the country. These issues are deemed to be of relevance to policymakers if LED is to be successfully implemented.     

An examination of the ethical beliefs of managers using selected scenarios in a cross-cultural environment

Academic literature addressing the topic of business ethics has paid little attention to cross-cultural studies of business ethics. Uncertainty exists concerning the effect of culture on ethical beliefs. The purpose of this research is to compare the ethical beliefs of managers operating in South Africa and Australia. Responses of 52 managers to a series of ethical scenarios were sought. Results indicate that despite differences in socio-cultural and political factors there are no statistically significant differences between the two groups regarding their own ethical beliefs. Results thus support the view that culture has little or no impact on ethical beliefs.Russell Abratt (DBA Pretoria) is Professor of Marketing at the University of Witwatersrand, Johannesburg, South Africa. His research interests include business ethics and promotional strategy. His work has been published in various sources includingJournal of Business Ethics, European Journal of Marketing, International Journal of Advertising andIndustrial Marketing Management.Deon Nel (DCom Pretoria) is Professor of Marketing at the University of Pretoria, South Africa. His research interests include business ethics and group decision making in organisations. His work has been published in various sources includingJournal of Business Ethics, European Journal of Marketing, Management Research News.Nicola Higgs is a graduate student at the University of the Witwatersrand, Johannesburg, South Africa.     

The social media faces of major global financial service brands

With the advent of social media, brand management has become not only more difficult, but also increasingly critical to the credibility and reputation of firms. Moreover, consumer-generated content and its rapid diffusion takes control over advertising-intended messages away from brand managers. Financial services brand managers will not fully be able to control the destinies of their brands, but at the very least they need to be involved in the conversations that speak about their brand. This article suggests a powerful analytical tool Chernoff Faces, which can add to financial service brand managers’ arsenal.     

Land, landlords and sustainable livelihoods: The impact of agrarian reform on a coconut hacienda in the Philippines

Agrarian reform has been a key theme on the development agenda of many countries in the Global South for decades. Whilst such interventions are often pursued for political goals and in the interests of empowerment, there is often a mismatch between these goals and the actual outcomes achieved. Within this context, this study investigates the impacts of agrarian reform in Del Rosario, a former coconut hacienda in the Philippines. This is done in an attempt to explore whether agrarian reform has facilitated the creation of sustainable livelihoods among its beneficiaries, in particular, and in their agrarian reform community, in general. The impacts of reform are examined in relation to four themes - economic, social, demographic and environmental. Overall, the study concludes that agrarian reform has not brought about sustainable livelihoods in the former coconut hacienda. People's livelihoods, especially those derived from copra farming, remain at a subsistence level. At most, at an economic level agrarian reform has brought about improved access to land among its beneficiaries. Nevertheless, it has empowered the farmers by giving them greater freedom and has increased their sense of well-being, as well as enabling them to improve their families’ life prospects and strengthen social capital.     

Community leadership: A comparison between asset-based community-led development (ABCD) and the traditional needs-based approach

A comparison study was undertaken between the asset-based community-led development (ABCD) approaches versus the traditional needs-based approach to community development relating to community leadership. A purposive sampling technique was used to select 24 community projects in South Africa for the study, of which 14 were sensitised to ABCD and 10 were not. The kind of community leadership developed in ABCD communities enabled communities to lead their own development by co-investing their own assets, and leveraging their assets with resources from external agencies. In comparison, although development took place, the leadership that emerged in the needs-oriented projects was more authoritarian in nature, and in some instances, seemed to establish a dependency on external agencies. Community leadership that contributes to projects that were more driven by community members complements the principles of appreciative leadership, which were more evident in ABCD-sensitised communities.     

The problems of supplying water to third world cities: Bulawayo's water crisis

The current drought in central and southern Africa has focused attention on issues relating to the provision and supply of potable water. In the case of Bulawayo, Zimbabwe's second city, there is the very real prospect that water supplies may be exhausted before the onset of the next rainy season. This paper explores the background to this problem and shows how poor planning, financial constraints, and political intransigence have failed to keep pace with a policy aimed at the provision of water to the inhabitants in this expanding urban environment Alternative sources of supply. in particular a pipeline to the Zambezi River, are also investigated.     

‘My Own Utopia’. The economics of Bentham's Panopticon

The paper analyses Bentham's theory of the economic management of the Panopticon prison he projected in 1786 and which was approved by the British Parliament in 1794, but never constructed. Its focus is on the economic arguments employed to justify the principles of management, most of which amount to the modern economic notions of market policies and principal-agent relationships. Bentham's way of conceiving these notions can be summarized in the problem of the junction of interest and duty. This paper shows that many modern notions concerning the economics of organizations and public economics are clearly foreshadowed, and sometimes even explicitly formulated, in Bentham's writings on prison management. Bentham was conscious of the important economic dimension of the Panopticon scheme and was persuaded, albeit illusorily, that an accurate economic theory of its management could favour its approval. Well before Charles Babbage's On the Economy of Machinery and Manufactures (), he went into a detailed theoretical analysis of the requirements and dilemmas of a complex economic organization oriented towards the joint fulfilment of the goals of a variety of stakeholders: taxpayers, the government, contract managers, keepers, taskmasters, subcontractors and prisoners. He also recognized that some institutional limits must be opposed to profit-oriented management in order to preserve the life, health and mental equilibrium of subordinates.