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The relationship between managerial qualities and risk management is unclear, particularly for small and medium-sized organizations (SMEs) in developing market economies such as South Africa, because much research has focused on big enterprises in industrialized nations. To address this knowledge gap, this paper investigates the relationship between SME owner-manager characteristics and risk management, using upper echelons theory in a novel approach to provide a better understanding of how owner-manager characteristics may be linked to risk management strategies. This was achieved by the distribution of questionnaires to 320 purposely selected SMEs in Cape Town as well as personal interviews with two risk experts. The results show that risk avoidance is SMEs' most prevalent risk management strategy. The findings also show that SME owner-manager characteristics and risk management strategies are firmly and significantly linked, revealing the key determinants of effective risk management in SMEs. This paper is unique because it focuses on the often-overlooked topic of applying echelons theory to SMEs. Aside from bridging this knowledge gap, it has significant implications, such as informing SME owner-managers and policymakers on key variables that influence SME risk management strategies and making recommendations for future research. [ABSTRACT FROM AUTHOR]

The aim of this paper is to select appropriate waste-to-energy (WtE) technology considering both subjective perspective of decision-maker and objective evaluation of the actual performance metrics of each alternative. Based on this premise, a novel hybrid multi-criteria decision making method based on Fuzzy-analytic hierarchy process (Fuzzy-AHP), Fuzzy-Entropy and Fuzzy-Multi-Objective Optimization on the basis of Ratio Analysis plus full multiplicative form (Fuzzy-MULTIMOORA) is applied as a decision tool. In this study, four (4) alternative WtE technologies (i.e., anaerobic digestion, incineration, pyrolysis and gasification) with fourteen (14) sub-factors that cut across four sustainability aspects (i.e., technical, economic, environmental and social factors) are considered. The applicability of the model is tested for a WtE technology selection in the City of Cape Town, South Africa. The result obtained reveals that for all the alternatives considered, the most sustainable WtE technology for investment in the City of Cape Town follows the order: anaerobic digestion > gasification > pyrolysis > incineration. Sensitivity analysis shows a high degree of consistency, robustness, and stability in the obtained results. The current work recommends that the integration of anaerobic digestion and gasification should be promoted as it has the potential to offer a well-balanced WtE technology compared to the stand-alone systems. Although, the case study is a city in South Africa, the methodology could be applied for selecting WtE technology in any developing countries' city with similar waste characteristic and economic nature like that of South Africa. • An objective-subjective hybrid MCDM model is put forward. • The criteria weights are determined using Fuzzy-AHP and Fuzzy-Entropy methods. • The waste-to-energy technologies are ranked using Fuzzy-MULTIMOORA approach. • Managerial implications of the most sustainable waste-to-energy technology is presented. [ABSTRACT FROM AUTHOR]

Due to severe droughts and rapid urbanization, Cape Town municipality including small towns along the West Coast of South Africa are facing water shortages. Managed aquifer recharge (MAR) seems to offer a solution to improve water security in this drought-prone area. This paper presents a conceptual framework within which numerical modelling of the aquifers system is operated to improve water security of West Coast. The ModelMuse software that included MODFLOW and MODPATH packages was used. Scenarios which considered recharge aspects were used to evaluate suitable sites and appropriate scheme of implementing MAR. The result showed that it is feasible to implement MAR in the upper unconfined aquifer unit (UAU) which had estimated available space for MAR of 915.7 million m3. For the semi-confined lower aquifer unit (LAU), the clay-missing window area located at west of Hopefield was a suitable site to implement MAR. However, the prevailing little space in LAU to store recharged water was a limiting factor to support the implementation of MAR scheme. Details on the possibility of implementing MAR scheme for West Coast aquifers system were discussed based of the simulations that were carried out. Although the modelling approach does not provide precise areas but a management tool, it provides key insights that are applicable in aquifer systems of similar characteristics. • It is feasible to implement managed aquifer recharge in the upper unconfined aquifer unit. • The available space for recharge in the upper unconfined aquifer is 915.7 million m3. • Infiltration pond with infiltration rate of 0.003 m/d at the west of Hopefield is suggested. • The clay-missing window is suitable site to artificial recharge the confined lower aquifer unit.. • There is little space to support managed aquifer recharge in the confined lower aquifer at present. [ABSTRACT FROM AUTHOR]