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09 April 2021 | Story Dr Nitha Ramnath | Photo Supplied
Tiisetso Mokoena tops the UFS Management Development Programme class of 2020
A tough 2020 did not dampen the spirit of Tiisetso Mokoena. Determined and steadfast, she obtained the highest average (92%) to become the top student in the Management Development Programme (MDP) offered by the University of the Free State (UFS) Business School. Mokoena enrolled for the MDP after receiving a bursary from the Services SETA. This is a remarkable achievement, as not only did Mokoena have fierce competition from an exceptionally large group – COVID-19 presented its own challenges that Mokoena had to face. Mokoena transitioned seamlessly from traditional face-to-face to online learning and excelled at it.

“Ms Mokoena was a very enthusiastic and committed student. She worked extremely hard and was not deterred by the transition from face-to-face to online lectures. Her hard work paid off, with impressive results. We are very proud of her,” says Programme Coordinator, Jo’Anni Deacon.

Mokoena also adds: “It has been a great honour to be part of the Higher Certificate Management Development Programme (MDP), and I thank my employer, Services SETA, and the UFS Business School for making it all possible.”
“My overall experience of the programme was impressive. I came into it with an expectation to better myself in my career; I believe that I will achieve this, as I was presented with tools and techniques that will help me grow professionally. As I went through the programme, I developed a sense of ambition and my strategic thinking progressed. I learned a lot about the basics of an everyday business world as we went through different modules, and there were a lot of ‘aha’ moments,” Mokoena adds.

“The UFS Business School is phenomenal, the academic support we as students received throughout the programme was amazing – we were treated with such dignity. The staff took time and effort to assist us with the utmost care and professionalism,” says Mokoena about her experience in the UFS Business School. 

About the UFS Business School and the Higher Certificate in Management Development

The Business School within the Faculty of Economic and Management Sciences has established itself as a leader in South Africa with the provision of the Higher Certificate in Management Development. A dynamic supplement to this spectrum of management programmes on offer is an excellent Higher Certificate in Management Development (MDP). The MDP emphasises leadership development, broadens insight through exposure to the most important management disciplines, and integrates it into a total management approach. This tailor-made qualification has been designed to assist institutions, managers, and managers-to-be in both the private and public sectors.

News Archive

Producers to save thousands with routine marketing strategies, says UFS researcher
2014-09-01

 

Photo: en.wikipedia.org

Using derivative markets as a marketing strategy can be complicated for farmers. The producers tend to use high risk strategies which include the selling of the crop on the cash market after harvest; whilst the high market risks require innovative strategies including the use of futures and options as traded on the South African Futures Exchange (SAFEX).

Using these innovative strategies are mostly due to a lack of interest and knowledge of the market. The purpose of the research conducted by Dr Dirk Strydom and Manfred Venter from the Department of Agricultural Economics at the University of the Free State (UFS) is to examine whether the adoption of a basic routine strategy is better than adopting no strategy at all.

The research illustrates that by using a Stochastic Efficiency with Respect to a Function (SERF) and Cumulative Distribution Function (CDF) that the use of five basic routine marketing strategies can be more rewarding. These basic strategies are:
• Put (plant time)
• Twelve-segment pricing
• Three-segment pricing
• Put (pollination)(Critical Moment in production/marketing process), and
• Pricing during pollination phase.

These strategies can be adopted by farmers without an in-depth understanding of the market and market-signals. Farmers can save as much as R1.6 million per year on a 2000ha farm with an average yield.

The results obtained from the research illustrate that each strategy is different for each crop. Very important is that the hedging strategies are better than no hedging strategy at all.

This research can also be applicable to the procurement side of the supply chain.

Maize milling firms use complex procurement strategies to procure their raw materials, or sometimes no strategy at all. In this research, basic routine price hedging strategies were analysed as part of the procurement of white maize over a ten-year period ranging from 2002–2012. Part of the pricing strategies used to procure white maize over the period of ten years were a call and min/max strategy. These strategies were compared to the baseline spot market. The data was obtained from the Johannesburg Stock Exchange’s Agricultural Products Division better known as SAFEX.

The results obtained from the research prove that by using basic routine price-hedging strategies to procure white maize, it is more beneficial to do so than by procuring from the spot market (a difference of more than R100 mil).

Thus, it can be concluded that it is not always necessary to use a complex method of sourcing white maize through SAFEX, to be efficient. By implementing a basic routine price hedging strategy year on year it can be better than procuring from the spot market.

Understanding the Maize Maze by Dr Dirk Strydom and Manfred Venter (pdf) - The Dairy Mail


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