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17 March 2021 | Story Karen Venter
As illustrated in the infographic, the input from engaged activities delivered by the UFS resulted in 285 engaged-activity outputs, of which the majority constituted engaged citizenship, followed by engaged research, and then engaged learning and teaching.


View infographic here

At the University of the Free State (UFS), engaged scholarship activities are guided by the vision of being a research-led, student-centred, and regionally relevant university, focused on development and social justice.

For enactment of this vision, the UFS invests physical resources and funding, as well as staff and student hours to contribute to nation building. 

Demonstrating the heart of strategic partnerships

Engaged scholarship demonstrates the heart of strategic partnerships, where agreements are grounded in shared goals, designed and agreed upon in unity for socio-economic renewal to improve people’s living conditions, contributing to societal well-being. It links the best of the research and teaching skills of staff and students to specific needs of the community, including civil society, the private sector, government, non-governmental organisations, and enterprises. 

Democratic knowledge co-creation emerges from engaged learning and teaching, engaged research, and engaged citizenship through interaction between the institution, its staff and students, and the community. 

The curriculum, engaged research efforts, engaged learning and teaching, and graduate attributes are all enriched through collaborative and reciprocal learning activities. As illustrated in the infographic, the input from engaged activities delivered by the UFS resulted in 285 engaged-activity outputs, of which the majority constituted engaged citizenship, followed by engaged research, and then engaged learning and teaching. 

Deep understanding of socio-economic and environmental challenges

Our students participate in community-engaged service-learning, leading to knowledge acquisition and a deep understanding of socio-economic and environmental challenges in mutual solidarity with the community. Service-learning also gives rise to the acceptance and understanding of diverse cultures and races and advances the ability to interact meaningfully with diverse people from different backgrounds. 

Community-engaged learning increases awareness of own biases and stereotypes along the dimensions of race, ethnicity, culture, gender, sexual orientation, socio-economic status, age, physical abilities, religious beliefs, political beliefs, or other ideologies. By transcending their own comfort zones, combined with collaborative learning with diverse groups, students can gain greater appreciation of the strengths and capacities of diverse groups in the community. 

The UFS invests physical resources and funding, as well as staff and student hours to contribute to nation building. – Karen Venter

Engaged scholarship also embraces the inculcation of citizenship and the social responsibility of the UFS to society by giving effect to one of the key ‘public good’ dimensions of the UFS. 

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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