Open AccessAnalysing Stokvels Development Through the Lens of Layered Conceptual Framework
Author(s) -
Mduduzi Justice Kennedy Bophela
Publication year - 2022
Publication title -
technium social sciences journal
Language(s) - English
Resource type - Journals
ISSN - 2668-7798
DOI - 10.47577/tssj.v29i1.5936
Subject(s) - maslow's hierarchy of needs , nonprobability sampling , popularity , triangulation , hierarchy , conceptual model , component (thermodynamics) , conceptual framework , psychology , qualitative research , management science , computer science , mathematics , sociology , social psychology , engineering , social science , database , physics , population , demography , geometry , economics , market economy , thermodynamics
Despite the popularity of stokvels, there is dearth in studies to develop integrated models of stokvels. This study intends to provide a conceptual framework for developing an integrated framework by layering each component of the Maslow’s hierarchy of need and Hayes & Wheelwright business models. Simple random method was adopted on 395 stokvelgroup’s members who were administered with a questionnaire and the purposive sampling method on 6 MC members of eThekwini Municipality that participated in the interviews. The qualitative data was analysed using N-VIVO (version 11.0). The quantitative data was analysed using inferential and descriptive statistics. A new model layering Maslow’s theory with the Hayes & Wheelwright four-stage model was developed using a theory triangulation technique to validate the theories with the findings of the study.