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18 November 2024 | Story Leonie Bolleurs | Photo Tania Allen
Business School Partnership 2024
Prof Per Assmo from University West, Sweden and Prof Anthea Rhoda from the UFS signed a Memorandum of Understanding that will develop academic cooperation across fields such as research, student and academic exchanges, and collaborative projects.

The University of the Free State (UFS) has signed a Memorandum of Understanding (MOU) with University West, Sweden. Held at the UFS Business School on the Bloemfontein Campus, the event saw the signing of the agreement by Prof Anthea Rhoda, acting UFS Vice-Chancellor and Principal, and Prof Per Assmo, Deputy Vice-Chancellor for Internationalisation at University West. The partnership aims to develop academic cooperation across fields such as research, student and academic exchanges, and collaborative projects.

This MOU opens the door to a wide range of collaborative initiatives, including academic and researcher exchanges for the purposes of teaching, conducting lectures, conducting research, and exchanging expertise. Additionally, the MOU includes student exchange programmes, joint research projects, and the shared hosting of seminars and conferences.

Prof Rhoda shared her enthusiasm to incorporate work-integrated learning (WIL) more widely at the UFS. “We are looking at work-integrated learning as an extension of engaged scholarship. It is something that we're looking forward to expanding,” she said.

Building a connected community

Prof Assmo explained that their institution, though small, has a unique approach that focuses on both production technology and work-integrated learning – a teaching model that goes beyond internships to provide students with practical, hands-on experience. "For us, WIL is a research field and academic discipline in its own right," he said.

University West is also the only university in the world to offer a PhD specifically in WIL, a programme it spent 20 years developing.

“We want to collaborate with South Africa as a strategic partner,” he said. The University West is already actively working with several South African universities, including the UFS, the Central University of Technology, the University of the Western Cape, and Tshwane University of Technology. “This would be the core for us, where we collaborate and find different forms within research and education, not restricted to any faculty or field as such.”

His vision also includes forming a larger ‘Nordic hub’ of connections across Sweden, Norway, and the European Union, along with a ‘regional hub’ in Bloemfontein. This way, universities can share ideas and resources to build a stronger, more connected community for the future.

A need for work-integrated learning

A working example of this partnership between University West and the UFS is the collaborative focus on integrated learning between Prof Liezel Massyn, Associate Professor in the UFS Business School, and Prof Kristina Areskoug Josefsson, Professor in Work-integrated Learning and Health Science from University West. They have a mutual commitment to improve educational practices through international partnerships and to advance integrated learning strategies. Together, they have already co-authored a research article and presented their findings at five conferences this year.

Prof Massyn said she realised that there is a need for work-integrated learning, specifically in the UFS Business School. “Initially, I thought our students were working, so they didn't need the work-integrated learning component. I then realised it could actually add a lot more value.”

Prof Nicolene Barkhuizen, Director of the UFS Business School, highlighted how this venture aligns with the university’s Vision 130, which aims to expand the UFS’ global footprint. “This partnership is an optimisation of the collaboration to contribute to Vision 130, expanding our reach globally while bringing practical value locally. We are looking forward to a very fruitful collaboration,” she said.

Speaking on behalf of the Faculty of Economic and Management Sciences, acting Dean Prof Frans Prinsloo discussed the potential for future projects. “Now that we have this collaboration agreement, there are many opportunities we can explore further,” he stated.

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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