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24 February 2021 | Story NONSINDISO QWABE | Photo Supplied
Business Management Lecturer, Lebohang Masoabi, who received her MA in Business Management at the February virtual graduation ceremony.

Student-turned-lecturer at the University of Free State (UFS), Lebohang Masoabi, has experienced the best of both worlds. Masoabi, a Business Management Lecturer on the Qwaqwa Campus, received her MA degree with specialisation in Business Management during the ceremony for master’s and doctoral degrees on 24 February 2021. 
She obtained both her BA Corporate Marketing and Communication and BAHons in Business Management degrees from the UFS.

I found my passion and remembered why I started

Masoabi knows a little about delays not being denials, because what was initially supposed to be a two-year qualification took her five years to complete. “It’s been a long journey, and I really have been through a lot to get to this point. Along the way, I lost hope and was ready to give up, but I remembered why I started. Being an academic has always been a dream of mine, and I want to be the best at that, so I remembered that this was my dream, something that I love.”
“Passing on the knowledge that I have learned from this very university is incredible. I think we are one of the most awesome institutions, and I say this with confidence – having been a student myself, and now as an employee of this institution. At one point I was on the receiving end and knowledge was transferred to me, and now I am on the other side transferring that very same knowledge. Now that I am here, I want more. I see myself becoming Professor Lebohang Masoabi one day,” she said.

Entrepreneurship education necessary for students 
Masoabi’s study focused on the role of entrepreneurship education on the attitudes and intentions of university students. She said when she came up with the topic of the study, one of her concerns was that many students studying entrepreneurship did not know what to do with their degrees beyond university, while students in other streams who went on to start businesses after getting their qualifications, lacked the skill and know-how. Her study found that entrepreneurship education had a positive influence on the intentions of students who had entrepreneurship background.

“Entrepreneurship teaches you to cultivate unique skills and to think out of the box. It creates opportunities, which is necessary in a country like ours. If students are given the skills and background of entrepreneurship – with the right opportunities and confidence they get from us as lecturers – they are able to influence their surroundings,” she said.

Master’s degree a message of hope

Masoabi is currently pursuing her PhD in social entrepreneurship, and said her focus was on becoming an expert in the field. “Part of why I started this journey was because of the hope that was given to me as a student at the UFS, the hope that I can be whatever I want to be. This master’s degree is my message of hope to someone looking at my life.”

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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