Factors to Measure the Performance of Private Business Schools in South Africa
Keywords:
Performance, private higher education institutions, management, success factors, business, PHEI
Abstract
This article identifies the latent variables embedded within the model to measure the performance of private business schools. In the quantitative research design, 247 questionnaires, using a five-point Likert scale, were analysed after completion by private business school supervisors and managers. The data has high reliability with a Cronbach alpha coefficient of 0.974 and excellent sample adequacy with a KMO value of 0.926. The analysis identified ten latent variables (or factors), identified using exploratory factor analysis explaining a cumulative variance of 70.56%. These are Regulatory compliance, Strategic communication, Educational technology stack, Strategic finance, Organisational development, Customer orientation, Sales, Pricing, Socio-political influence and Market focus. The study also succeeded to simplify measuring performance by eliminating 26 questions with low factor loadings (<0.40) or those that are cross-loading highly onto more than one factor from the questionnaire while retaining a satisfactory level of reliability. The results are valuable to private business school managers and to the employees wanting to measure and improve the business performance of a private business school. Researchers and academia could also benefit from the contribution of the study to either build on business performance of private business schools or, alternatively, in adopting the methodology employed in this study for another application setting.
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References
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Bisschoff, C. A. & Moolla, A. I. (2014). A simplified model to measure brand loyalty. Proceedings of the 2nd International Conference on Contemporary Marketing Issues (ICCMI), Athens, Greece. June 18-20, 1113-1119.
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Eaton, P. & Willoughby, S. D. (2018). Confirmatory factor analysis applied to the force concept inventory. Physical Review Physics Education Research, 14(1), 101-124.
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Fields, Z. & Bisschoff, C. A. (2013b). A theoretical model to measure creativity at a university. Journal of Social Sciences, 34(1), 47-59.
Fields, Z. & Bisschoff, C. A. (2014). Comparative analysis of two conceptual frameworks to measure creativity at a university. Problems and Perspectives in Management, 12(3), 46-58
Gaskin, J. E. (2014). Exploratory factor analysis.
Geldenhuys, P. (2018). Business Unusual – Harnessing the promise of the future.
Goetsch, D. L. & Davis, S. B. (2016). Quality management for organizational excellence. Introduction to total quality. (8th ed.). Upper Saddle River, NJ: Pearson Education.
Hallahan, K., Holtzhausen, D., Van Ruler, B., VerÄiÄ, D. & Sriramesh, K. (2007). Defining strategic communication. International Journal of Strategic Communication, 1(1), 3-35.
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Hanushek, E. A. (2016). Will higher education improve economic growth? Oxford Review of Economic Policy, 32(4), 538-552.
Harman, H. H. (1976). Modern factor analysis. (3rd revised ed.). Chicago, IL: University of Chicago.
Hassan, R. A. (2016). Self-efficacy and self-independence in promoting self-employment intention among university students. Journal of Research in Business, Economics and Management, 6(2), 888-893.
Hill, C. R. & Hughes, J. N. (2007). Examination of the convergent and discriminant validity of the strengths and difficulties questionnaire. School Psychology Quarterly, 22(3), 380-406, September. Holyoak, J. (2017). The importance of technology in business. https://marketing.pinecc.com/blog/why-is-technology-important-in-business-pine-coves-top-10-reasons Last accessed 21 August 2018.
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Kargić, L. & Poturak, M. (2014). Factors that influence state or private university selection. European Journal of Contemporary Education, 9(3), 149-159.
Kasemsap, K. (2017). Mastering customer service, customer experience, and customer orientation in the hospitality and tourism industry. In: Handbook of research on holistic optimization techniques in the hospitality, tourism, and travel industry (pp. 115-140). IGI Global.
Kerlunger, F. N. (1973). Foundations of behavioural research. (2nd ed.). New York, NY: Holt, Rhinehart & Winston.
Khalid, N. M. (2014). Factors affecting course satisfaction of online Malaysian university students. (Theses - PhD). Fort Collins, CO: Colorado State University.
Kotler, P. & Keller, K. L. (2016). Marketing Management. (15th ed.). Boston, MA: Pearson.
Laerd, J. (2018). Sphericity. https://statistics.laerd.com/statistical-guides/sphericity-statistical-guide.php. Last accessed 21 July 2018.
Lamb, C. W., Hair, J. F. & McDaniel, C. (Jr.). (2016). Principles of marketing. Boston, MA: Cengage Learning.
Lei, J. (2012). Striving for survival and success: Chinese private higher education in the twentyâ€first century. On the Horizon, 20(4), 274-283.
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Makhitha, K. M. (2017). The impact of independent retailers’ relationship marketing practices on business performance. Journal of Contemporary Management, 14, 645-673.
Maulina, E. (2018). SWOT analysis for business strategies: a case of Virage Awi in the bamboo craft industries, Bandung, Indonesia. Review of Integrative Business and Economics Research, 7, 213-224.
Mbuya, J. M. & Schachtebeck, C. (2016). Future entrepreneurs: Does the field of study matter? A comparison of students in a South African urban environment. Problems and Perspectives in Management, 14, 228-235.
McGrath, D. (2015). Geography, Skills and local companies affect the impact of higher education on economic development. International Journal of Educational Development, 43, 22-31, July.
Nagle, T. T. & Müller, G. (2017). The strategy and tactics of pricing: A guide to growing more profitably. London: Routledge.
Naidoo, K. (2011). Stress management and its impact on work performance of educators in public schools in KwaZulu-Natal. (Thesis - PhD). Potchefstroom: North-West University.
Imandin, L., Bisschoff, C. A., Botha, C. J. (2016). Confirmatory analysis of the model to measure employee engagement. Problems and Perspectives in Management, 14(2), 93-103.
Navneet, J. & Ovum, M. (2017). Trends to watch in higher education. IT as an enabler of innovation and competitive institutional differentiation.
Orville, C., Walker, J. R. & Mullins, J. W. (2014). Marketing strategy. (8th ed.). Singapore: McGraw-Hill.
Osborne, J. W., Costello, A. B. & Kellow, J. T. (2014). Best practices in exploratory factor analysis. Charleston, SC: Create Space Independent Publishing Platform.
Pallant, J. (2013). The SPSS survival manual. London: McGraw-Hill Education.
Patel, V. (2015). Exploratory Factor Analysis: Using SPSS. Workshop: National Level Two Week Faculty Development Programme on Advanced Data Analysis for Business Research Using Statistical Packages. Washington, DC: Georgetown University. June 22-July 5, 2015.
Patil, S., Singh, N., Mishra, S. & Donavan, T. D. (2008). Efficient theory development and factor retention criteria: Abandon the ‘eigenvalue greater than one’ criterion. Journal of Business Research, 61(2), 162-179.
Price Water House Coopers (PWC). (2017). Perspectives in higher education 2017.
Roberts, J. (2018). Open textbook network: Session 1.
Samuels, P. (2016). Advice on exploratory factor analysis. Birmingham: University of Birmingham.
SBDC Oklahoma. (2017). Why is technology important in business?
Schiffman, L. & Kanuk, L. (2014). Consumer behaviour: Global and Southern African perspectives. (10th ed.). Cape Town: Pearson Education.
Sekaran, U. & Bougie, R. (2003). Research methods for business: A skill building approach. (4th ed.). New York, NY: Wiley.
Hamid, A. Z. (2015). Stress management and its impact on work performance of Swaziland educators. (Thesis – PhD). Potchefstroom: North-West University.
Shaikh, A. S. C., Bisschoff, C. A. & Botha, C. J. (2017). Identifying factors to measure managerial and leadership competence of business school educated managers. International Review of Management and Marketing, 7(5), 140-152.
Singh, D., Pattnaik, C., Gaur, A. S. & Ketencioglu, E. (2018). Corporate expansion during pro-market reforms in emerging markets: The contingent value of group affiliation and diversification. Journal of Business Research, 82(4), 220-229.
Soriano, D. R. (2010). Management factors affecting the performance of technology firms. Journal of Business Research, 63(5), 463-470.
South Africa (SA). (2012). The National Development Plan.
South Africa Population. (2018). Population statistics (2018-06-16).
South African Government. (2012). National Development Plan 2030. Our future make it work. Pretoria: State printers.
Stander, E. & Herman, C. (2017). Barriers and challenges private higher education institutions face in the management of quality assurance in South Africa. South African Journal of Higher Education, 31(5), 206-224.
Stander, E. (2017). Managing quality assurance in private higher education institutions in South Africa. Pretoria: University of Pretoria.
Strydom, J. K., Oosthuizen, T., Rudansky-Kloppers, S., De Beer, A., Holtzhausen, M, Steenkamp, R., Maritz, M., Bruwer, J. P. & Nieuwenhuizen, C. (2017). Principles of business management. (3rd ed.). Cape Town: Oxford.
Thian, L. B., Alam, G. M. & Idris, A. R. (2016). Balancing managerial and academic values: Mid-level academic management at a private university in Malaysia. International Journal of Educational Management, 30(2), 308-322.
Tryfos, P. (1997). Factor analysis. http://www.yorku.ca/ptryfos/f1400.pdf Last accessed 10 August 2018.
University of Oxford. 2017. International trends in higher education.
Thompson, A., Strickland, A., Peteraf, M. & Gamble, J. E. (2018). The Quest for Competitive Advantage: Concepts and Cases. New York, NY: McGraw-Hill Education.
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Published
2018-12-22
How to Cite
Asvat, R., Bisschoff, C., & Botha, C. (2018). Factors to Measure the Performance of Private Business Schools in South Africa. Journal of Economics and Behavioral Studies, 10(6(J), 50-69. https://doi.org/10.22610/jebs.v10i6(J).2594
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Research Paper
Copyright (c) 2018 R Asvat, CA Bisschoff, CJ Botha
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