Simulating the economic impact emerging from the strategic decision-making of firms: A macroeconomic agent-based model
- Giovannoni, Amalio Dino John
- Authors: Giovannoni, Amalio Dino John
- Date: 2021-10-29
- Subjects: Decision making Economic aspects , Industrial management Decision making , Industrial management Computer simulation , Knowledge economy , Technological unemployment , Economic development Computer simulation , Employees Training of
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/191887 , vital:45175
- Description: The key research problem addressed in this project is: how does the strategic decision making of firms affect an economy? While this is a difficult question to answer, insights may be gained through the use of computational techniques such as agent-based modelling (ABM). An agent-based model is developed that simulates micro-level economic interactions between individuals and _rms in different markets, resulting in emergent macro-level features. Technological progress is an important determinant of economic growth and has been decomposed into two complementary factors: knowledge and technological sophistication. The model is used to explore the long-term, macroeconomic consequences of _rms investing more heavily in knowledge development. The simulations show that a shift towards a knowledge-based economy (KBE) has an insignificant impact on GDP over the long-term. However, the shift does produce a significant increase in unemployment. The higher unemployment is shown to be particularly high for the unskilled sectors of the population. It is therefore paramount that companies embark on skills development, training and educational initiatives when following a path of technological and knowledge innovation. A transformation of the education system to one that is inclusive, focused on quality, adaptive, encourages creativity, aligned with the needs of industry, and stimulates R&D is crucial. Without a coordinated strategy between industry, academia, and government in attempts to achieve a KBE, economic growth may be constrained, while the levels of unemployment, inequality and poverty may deteriorate. , Thesis (MBA) -- Faculty of Commerce, Rhodes Business School, 2021
- Full Text:
- Date Issued: 2021-10-29
- Authors: Giovannoni, Amalio Dino John
- Date: 2021-10-29
- Subjects: Decision making Economic aspects , Industrial management Decision making , Industrial management Computer simulation , Knowledge economy , Technological unemployment , Economic development Computer simulation , Employees Training of
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/191887 , vital:45175
- Description: The key research problem addressed in this project is: how does the strategic decision making of firms affect an economy? While this is a difficult question to answer, insights may be gained through the use of computational techniques such as agent-based modelling (ABM). An agent-based model is developed that simulates micro-level economic interactions between individuals and _rms in different markets, resulting in emergent macro-level features. Technological progress is an important determinant of economic growth and has been decomposed into two complementary factors: knowledge and technological sophistication. The model is used to explore the long-term, macroeconomic consequences of _rms investing more heavily in knowledge development. The simulations show that a shift towards a knowledge-based economy (KBE) has an insignificant impact on GDP over the long-term. However, the shift does produce a significant increase in unemployment. The higher unemployment is shown to be particularly high for the unskilled sectors of the population. It is therefore paramount that companies embark on skills development, training and educational initiatives when following a path of technological and knowledge innovation. A transformation of the education system to one that is inclusive, focused on quality, adaptive, encourages creativity, aligned with the needs of industry, and stimulates R&D is crucial. Without a coordinated strategy between industry, academia, and government in attempts to achieve a KBE, economic growth may be constrained, while the levels of unemployment, inequality and poverty may deteriorate. , Thesis (MBA) -- Faculty of Commerce, Rhodes Business School, 2021
- Full Text:
- Date Issued: 2021-10-29
A hand to mouth existence: hurdles emanating from the COVID 19 Pandemic for Women Survivalist Entrepreneurs in Johannesburg, South Africa
- Mapuranga, Miston, Maziriri, Eugine Tafadzwa, Rukuni, Tarisai Fritz
- Authors: Mapuranga, Miston , Maziriri, Eugine Tafadzwa , Rukuni, Tarisai Fritz
- Date: 2021-09-13
- Subjects: Covid-19 (Disease) , Women-owned business enterprises , Entrepreneurship
- Language: English
- Type: article
- Identifier: http://hdl.handle.net/11260/7460 , vital:53960 , https://doi.org/10.31920/2634-3622/2021/v10n3a6
- Description: There are many women survivalist entrepreneurs in South Africa, many of whom work in the informal sector. The emergence of theCOVID-19 pandemic has a devastating effect on their entrepreneurial projects. While both the public and private sectors have initiated various measures to ease the blow, obstacles continue to confront them. This study sought to examine the challenges faced by women survivalist entrepreneurs in South Africa’s Johannesburg metropolitan area. The researchers gathered qualitative data using a qualitative research approach by conducting semi-structured face-to-face interviews. The data was analysed using thematic analyses. The themes that emerged from the findings include; a lack of capital for reinvestment, no government grant support, a decline in the demand for products by the market, rotting agricultural produce or stock, a battle for strategic selling points and numerous confrontations with police as a result of not meeting the regulatory rules relating to COVID-19. The present research provides theoretical implications for academics in entrepreneurship by enhancing the understanding of the hurdles that these entrepreneurs have experienced because of COVID-19. On the practitioners’ side, this work offers avenues for women survivalist entrepreneurs to improve their entrepreneurial ventures and eventually eliminate the challenges they face when running their ventures. This study also offers policy implications. For example, existing government policies can be amended to make the working conditions of women survivalist entrepreneurs better or make the rules under which they operate simpler. This study contributes to entrepreneurship literature by uncovering the difficulties faced by women survivalist entrepreneurs due to the COVID-19 pandemic. It will assist other scholars in further developing this research field. As such, this research is important for women survivalist entrepreneurs because most of them endeavour to enhance entrepreneurial performance for the betterment of their lives. Governments may also use the study to develop interventions aimed at facilitating the growth and development of women survivalist entrepreneurs.
- Full Text:
- Date Issued: 2021-09-13
- Authors: Mapuranga, Miston , Maziriri, Eugine Tafadzwa , Rukuni, Tarisai Fritz
- Date: 2021-09-13
- Subjects: Covid-19 (Disease) , Women-owned business enterprises , Entrepreneurship
- Language: English
- Type: article
- Identifier: http://hdl.handle.net/11260/7460 , vital:53960 , https://doi.org/10.31920/2634-3622/2021/v10n3a6
- Description: There are many women survivalist entrepreneurs in South Africa, many of whom work in the informal sector. The emergence of theCOVID-19 pandemic has a devastating effect on their entrepreneurial projects. While both the public and private sectors have initiated various measures to ease the blow, obstacles continue to confront them. This study sought to examine the challenges faced by women survivalist entrepreneurs in South Africa’s Johannesburg metropolitan area. The researchers gathered qualitative data using a qualitative research approach by conducting semi-structured face-to-face interviews. The data was analysed using thematic analyses. The themes that emerged from the findings include; a lack of capital for reinvestment, no government grant support, a decline in the demand for products by the market, rotting agricultural produce or stock, a battle for strategic selling points and numerous confrontations with police as a result of not meeting the regulatory rules relating to COVID-19. The present research provides theoretical implications for academics in entrepreneurship by enhancing the understanding of the hurdles that these entrepreneurs have experienced because of COVID-19. On the practitioners’ side, this work offers avenues for women survivalist entrepreneurs to improve their entrepreneurial ventures and eventually eliminate the challenges they face when running their ventures. This study also offers policy implications. For example, existing government policies can be amended to make the working conditions of women survivalist entrepreneurs better or make the rules under which they operate simpler. This study contributes to entrepreneurship literature by uncovering the difficulties faced by women survivalist entrepreneurs due to the COVID-19 pandemic. It will assist other scholars in further developing this research field. As such, this research is important for women survivalist entrepreneurs because most of them endeavour to enhance entrepreneurial performance for the betterment of their lives. Governments may also use the study to develop interventions aimed at facilitating the growth and development of women survivalist entrepreneurs.
- Full Text:
- Date Issued: 2021-09-13
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