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CGF ARTICLES, OPINIONS & EDITORIALS

POSITIVE COPING BEHAVIOUR REINFORCES EMPLOYEE PRODUCTIVITY (2015-10-06)

Article by Dr Dicky Els and Terrance M. Booysen

In a globalised economy excesses and imbalances in one part of the world inevitably affects the economies of another, and this is typically played out between developed and developing countries.  With the accelerated pace of global development, expectedly there is a knock-on implication to increased business risk through aggressive competition and more pressure on increasing profit margins.

It’s therefor not surprising then to see -- at a global level -- how executives are forced to re-evaluate, redesign and sometimes shrink their trading operations in the face of tougher regulatory requirements, exacerbated by revenue declines and higher cost pressures.  Organisations are operating in turbulent markets and they have to constantly adapt to increasing business uncertainty and changing circumstances, locally and abroad.  Accordingly, the challenge (or the threat) to many business executives may be found in the way they react to severe economic stressors.

Two of the BRICS countries -- namely Russia and Brazil -- are in recession while the South African economy performs below market expectations.  Figures released by Statistics South Africa showed that the government, transport and retail sectors had grown while agriculture, mining and manufacturing declined in the second quarter of 2015.  Compounding matters yet further, the South African mining and manufacturing sectors have announced more plans to cut thousands of jobs.  As the national economy continues to struggle, many organisations are battling to survive and the effect has a direct and negative impact on the psychological (and ultimately physical) well-being of the nation’s workforce.

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