How time value affects the performance of road freight transport operators in Zimbabwe

Abstract

Purpose: The primary purpose of this paper is to investigate whether the Road Freight Transport Sector in Zimbabwe considers the value of time in their operations and how this affects their competitiveness. Methodology: This quantitative study involves a survey of 384 randomly selected companies from a population of 1256 registered road freight companies in Zimbabwe. The data collected was analyzed using SPSS. Results: The study found that all the registered companies that participated in the research confirmed that the value of time phenomenon was alien to their business practices as they worked on assumptions. They also indicated a loss of business due to customer complaints. Theoretical Contribution: This paper contributes to the field by highlighting the importance of considering the value of time in business operations, particularly in the road freight transport sector. It provides empirical evidence supporting the theory that the value of time can significantly impact a firm’s competitiveness. Practical Implications: The findings of this study have practical implications for companies in the road freight transport sector. The study recommends policy formulation for companies emphasizing standard operating procedures and good time management to enhance competitiveness. This could lead to improved customer satisfaction and business success.

Keywords

• value of time
• competitiveness
• road freight sector
• customer satisfaction