The purpose of this project is to encourage students to think critically about structural issues in South Africa’s economy. The project is also designed to draw managerial creative insights into finding answers to questions of competition, trade and industrial policy. As a researcher, apply managerial economic concepts to answer ALL the questions that follow.

1. Increased global competition affects managerial decision-making related to pricing, production, and market entry strategies. Analyse the impact of globalization on South African firm strategies
2. Evaluate South Africa’s trade policies, focusing on tariffs and export subsidies, and their influence on export competitiveness between 2020 and 2024
3. Evaluate the effectiveness of South African competition policy (Competition Act of 1998) in promoting fair competition. Focus on the period 2020-2024
4. Critically discuss the effectiveness of South Africa’s industrial policy between 2020 and 2024 (25 Marks)

Answers to Above Economics Questions

Expert Answer 1: The effect of globalisation on South African firsm can be identified from evaluating the pricing production and marketing entry strategies applicable to businesses in South Africa. Globalization has resulted into both opportunities as well as threats to South African firms. With respect to the pricing strategies, the South African forms has faced significant competition especially from cheaper imports from the markets of Asia. Globalization has allowed access to Asian firms to penetrate in the South African market, and this has required businesses in South Africa to adjust their pricing strategies to cope up with increased competition level. The South African firms are also required to make decisions in relation to the product strategy, if they are required to shift towards lean manufacturing and automation in order to achieve cost efficiency in productivity. Overall, globalization has required South African managers to focus more on efficiency and productivity in order to cope up with challenges posed by international firms.

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