Survival strategies : changes to systems and controls in agricultural based businesses during a period of economic instability and hyperinflation in Zimbabwe.
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Date
2003
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Abstract
Zimbabwe is currently experiencing unprecedented hyperinflation, which is impacting
on the effectiveness and efficiency of businesses operating in this unstable economic
climate.
The current skewed economic policies are producing unusual threats for these
businesses but are also providing unusual opportunities for exploitation. Some of
these threats can be summarised as the breakdown of social infrastructure, which has
worsened the effects on these operations of low world market prices for primary
products.
There is a large amount of strategic systems and controls theory about management in
turbulent operating environments. Most of these focus on survival against fast moving
competition from rivals and substitutes, rapid pace of technological change and
similar developed country problems. Conventional strategic theory relies on stable
currency and procurement environments and is not well adapted to operations in
hyperinflation situations.
This paper reports the results of a study of strategic changes introduced as survival
mechanism by four businesses with a long operating cycle in primary agricultural
production. The study examines the relevance of specific strategic theories to each of
the respondents.
The respondents questioned all expect that the economic situation will return to
"normal" and that these strategic adjustments will be replaced with conventional
theory soon thereafter.
Description
Thesis (MBA)-University of Natal, 2003.
Keywords
Theses--Business administration., Economic instability.