Thesis (MBA)--Stellenbosch University, 1999. / ENGLISH ABSTRACT: This is a comparative study to determine the accuracy of the cumulative factors calculated and used by INET and the University of Stellenbosch, Graduate School of Business (USB). These factors are calculated whilst taking into account the changes in capital structure due to the effects of share splits (splits), consolidations and capitalisation issues in the calculation of dividends per share (both interim and final), and closing share prices. For this purpose the data of 350 listed industrial companies on the Johannesburg Stock Exchange was evaluated over a 28-year period (1970-1997). In cases where a company was delisted before the date of the financial year-end 1997, that company was deleted from the study for the full period. The analysis of share splits, consolidations and capitalisation issues in the calculation of a cumulative factor for the determination of dividends per share and closing share prices, is therefore of critical importance. It is important to the companies as well as parties who are involved in maintaining data of listed companies on the Johannesburg Stock Exchange. It is also important to those who use this data for research purposes. South African studies using dividends per share and share prices from INET or the USB assume that the data is accurate. This study is an effort to verify the accuracy of the two mentioned databases. The results of the study clearly suggest or indicate that there are indeed numerous inaccuracies (differences) between the data kept by both INET and USB databases. It is therefore important that the data be revisited so that these anomalies can be rectified. / AFRIKAANSE OPSOMMING: Hierdie is 'n vergelykende studie om die akkuraatheid te bepaal van die kumulatiewe faktore soos deur INET en die Universiteit van Stellenbosch se Nagraadse Bestuurskool (USB) bereken en gebruik. Hierdie faktore word bereken om die effek van die onderverdeling en konsolidasie van aandele, asook kapitalisasie-uitgifte op die dividend per aandeel (beide interim en finaal) en sluitingsaandeelpryse te bepaal. Vir hierdie doel was die data van 350 industriele maatskappye wat op die Johannesburgse Aandelebeurs genoteer is oor 'n 28-jaar periode (1970-1997) geevalueer. In gevalle waar die maatskappye voor die finansiele jaareinde 1997 gedenoteer is, is die maatskappy uit die studie weggelaat. Die analise van onderverdeling en konsolidasie van aandele en kapitalisasie-uitgifte in die berekening van 'n kumulatiewe faktor vir die bepaling van dividend per aandeel en die sluitingsaandeelpryse, is van kritiese belang. Dit is belangrik vir die maatskappye en ander belanghebbendes wat gemoeid is met die instandhouding van data van genoteerde maatskappye op die Johannesburgse Aandelebeurs. Dit is ook van belang vir diegene wat die data vir navorsingsdoeleindes gebruik. Suid-Afrikaanse studies wat op dividend per aandeel en aandeelpryse van INET of die USB gebaseer is, veronderstel dat die data korrek is. Hierdie studie poog om die akkuraatheid van die genoemde twee databasisse te verifieer. Die resultate van die studie toon duidelik aan dat daar 'n hele aantal onakkuraathede (verskille) tussen die data onderhou deur beide INET en die USB bestaan. Dit is dus belangrik dat die data weer ondersoek word ten einde verskille uit die weg te ruim.

Thesis (MBA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: The Asian financial crisis in mid-1997 highlighted the important role a sound, well regulated and supervised banking industry plays in the economy of a country or region. Although many analysts believe that the Asian crisis arose mainly as a result of factors external to the countries in question, this paper clearly highlights the role fragile banking industries within these countries played in the crisis. The Asian financial crisis was not the first of its kind, with similar crises erupting in Argentina, Mexico and other Latin American countries in the early 1990s. There is a belief that banking crises occur only in emerging and developing countries. Whilst the incidence of crises in emerging markets is higher as a result of higher risk profiles, poor regulation and supervision and government and political interference, the United States Savings and Loan Crisis of the early 1980s is evidence that banking crises are not limited to emerging economies. This study is divided into three parts, namely a theoretical literature study on the soundness of banking systems, an analysis of the Asian financial crisis and an analysis of the South African banking industry, with particular reference to the "Big Four" South African banks. The first part of this study deals with the theory relating to bank soundness, banking in emerging markets and a brief overview of the various risks faced by banks. A theoretical study is also undertaken of the causes of and reasons for individual bank failure, as in the banking industry a crisis of confidence often spills over from an individual bank in distress to other solvent and well operated banks within the industry. This is known as the contagion effect. The second part of the study deals with an in-depth analysis of the causes of the Asian financial crisis, with specific emphasis on the role banks played in fuelling the crisis. Recommended solutions are put forward in an attempt to avoid future possible crises of this magnitude. South Africa is classified as an emerging or developing country by international economists and therefore is often perceived to pose greater risks to foreign investors. The third part of this study deals with an in-depth analysis of the soundness of the South African banking industry concentrating on the financial performance of the "Big Four" - Amalgamated Banks of South Africa Limited, The First Rand Group, Nedcor Limited and Standard Bank Investment Corporation Limited. The "Big Four" make up close to 80% of the total market share of the South African banking industry. One could imply that if the "Big Four" are financially sound, then the South African banking industry could be classified as sound. Past experience has revealed that the failure of a small bank does not have any significant impact on the local banking industry (i.e. no contagion effect). This study will show that there is no single mathematical model available to analyse the probability of bank failure or bank system soundness. Rather a wide range of possible causes, both micro and macro-economic, can influence the soundness of a bank or banking system. The study will reflect that although South Africa may be classified as an emerging economy in view of the characteristics of its economic make-up, the banking industry is by no means "emerging". South Africa has one of the most highly regulated and supervised banking industries in the world. Furthermore, whilst maybe not efficient in terms of utilisation of capital and returns on equity, coupled with fairly high cost structures, the industry is profitable, with adequate margins, substantial reserves and well structured loan risk profiles complemented by sound and conservative management policies, overseen by a highly competent regulatory authority. One could therefore conclude that given the soundness of the "Big Four", the South African banking system may be classified as sound. / AFRIKAANSE OPSOMMING: Die Asiatiese finansiële krisis van 1997 het die belangrike rol van 'n gesonde en gereguleerde bankstelsel in die ekonomie van 'n land of streek beklemtoon. Alhoewel baie navorsers glo dat die Asiatiese krisis 'n gevolg was van eksterne faktore buite die beheer van die betrokke nasies, sal hierdie werkstuk klem lê op die rol van wankelrige bankstelsels in hierdie krisis. Die Oosterse finansiële krisis was nie enig in soort nie en is soortgelyk aan krisisse in Agentinië, Mexico en ander Suid-Amerikaanse ekonomië in die vroeë negentigerjare. Daar is 'n verdere opvatting dat finansiële krisisse beperk is tot ontwikkelende nasies as gevolg van hierdie lande se hoër risikoprofiel, onvoldoende wetgewing en toesighouding en politieke inmenging. Tot 'n groot mate is dit wel die geval, maar die 'United States Savings and Loans' krisis in die tagtigerjare het hierdie wanopvatting bevraagteken. Hierdie werkstuk is in drie afdelings verdeel - 'n teoretiese navorsingsprojek oor die stabiliteit van bankstelsels, 'n ontleding van die Asiatiese finansiële krisis en 'n ontleding van die stabiliteit van die Suid-Afrikaanse bankstelsel met verwysing na die "Groot Vier" banke. Die eerste deel van hierdie werkstuk handel oor die teorie van bankstabiliteit, die bankwese in ontwikkelende ekonomië en 'n kort samevatting van die risiko's waaraan banke blootgestel is. Teoretiese navorsing word ook gedoen oor die redes en oorsake van individuele bankmislukkings. Die rede hiervoor is dat 'n vertrouenskrisis in 'n individuele bank dikwels oorvloei na die gesonde banke binne dieselfde industrie. Die term hiervoor is die aansteking -effek. Die tweede deel van hierdie werkstuk dek 'n in-diepte ontleding van die Asiatiese finansiële krisis, met spesifieke verwysing na die rol van banke in die krisis. Aanbevelings word verder gemaak in 'n poging om soortgelyke, toekomstige krisisse te voorkom. Volgens internasionale ekonome is Suid-Afrika 'n ontwikkelende nasie en hou as sulks groter risiko's in vir beleggers. Die derde afdeling van hierdie werkstuk dek 'n in-diepte ontleding oor die stabiliteit van die Suid-Afrikaanse "Groot Vier" banke: Amalgamated Banks of South Africa Beperk, Die First Rand Groep, Nedcor Groep en Standard Bank Investment Corporation Beperk. Die "Groot Vier" beslaan 80% van die totale mark van die Suid-Afrikaanse bankwese. Hiervan kan afgelei word dat sou die "Groot Vier" finansiële stabiliteit ondervind, dan kan die Suid-Afrikaanse bankwese met reg as gesond beskou word. Ondervinding in Suid-Afrika het gewys dat die mislukking van 'n klein bank nie 'n groot invloed op die plaaslike bankwese het nie (die aansteking - effek). Hierdie werkstuk sal aantoon dat daar geen wiskundige of ekonomiese model beskikbaar is om 'n bankmislukking vroegtydig en korrek te voorspel nie - ook nie om die stabiliteit van 'n bankstelsel te waarborg nie. 'n Wye reeks moontlike oorsake, beide mikro- en makro-ekonomies van aard, kan die stabiliteit van 'n bank of die bankwese beïnvloed. Hierdie werkstuk sal deurlopend uitwys dat nieteenstaande Suid-Afrika se status as "ontwikkelende" nasie, die bankwese allermins "ontwikkelend" is. Suid-Afrika het een van die mees gereguleerde bankstelsels in die wêreld. Terwyl die aanwending van kapitaal en die opbrengs daarop nie altyd bevredigend is nie, is die opbrengs vir beleggers redelik hoog en die industrie winsgewend. Winsmarges is groot, diepte in reserves is duidelik teenwoordig en die korrekte, gestruktureerde risiko profiel van leners weerspieël stabiele en konserwatiewe bestuurspraktyke. Samevattend kan gesê word dat danksy die "Groot Vier", die Suid-Afrikaanse bankwese kerngesond is.

Thesis (MBA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: Nampak is the industry leader in the paper and packaging industry. There are over 20 divisions which fall under the Nampak banner, supplying a diverse range of primarily packaging material, from plastic carrier bags to glass bottles. A few years ago top management realised the need to move the Nampak group into the realm of world class. This paradigm shift required a substantial education and training initiative, and so the Nampak "Colleges" were created to support and underpin the World Class Manufacturing & Services ethic that each and every division would adhere to. All Nampak training interventions or processes are based on experiential learning. Candidates are introduced to concepts and theory, given opportunities to analyse case studies, conduct plant-level audits and give feedback to the general managers of the plants. In addition each delegate is given a project to be completed in the work place. The aim of this research is to assess the effectiveness of the Nampak WCM&S College 5 using an evaluation framework. The literature was reviewed in order to: • develop an evaluation framework; • establish an evaluation process; • facilitate the construction of a relevant test format. The test instrument was designed based on the principles of test construction and Kirkpatrick's model for evaluation. Data was collected for pre and post-tests for phase 2 and phase 3, analysed using descriptive statistics and reported on at the beginning at each phase as well as at the Trade Show. The evaluation results proved to be very positive and the evaluation process was incorporated into the design of all future College interventions. / AFRIKAANSE OPSOMMING: Nampak is die nywerheidsleier in die papier en verpakkingsbedryf. Daar is meer as 20 afdelings wat deel van Nampak uitmaak wat 'n diverse omvang van hoofsaaklik verpakkingsmateriaal verskaf, insluitend plastiek draagsakke en glas bottels. 'n Paar jaar terug het hoofbestuur besef dat Nampak tot wêreldklas status moet aandryf. Hierdie paradigma verandering het 'n aansienlike opvoedings- en opleidings-fokus benodig en die Nampak "Colleges" is geskep om die "WCM&S" etiek te ondersteun wat elke afdeling by sou bly. Alle Nampak opleiding tussenkomstes of prosesse word gebasseer op experiential geleerdheid. Kandidate word aan konsepte en teorieë voorgestel word geleenthede gegee om gevalstudies te analiseer, fabriek oudite te doen en terugverslag te gee aan die algemene bestuurders van die fabrieke. Elke afgevaardigde word ook 'n projek gegee om by die werk te voltooi. Die doel van hierdie navorsing is om die doeltreffendheid van die Nampak WCM&S College 5 te evalueer deur middel van 'n evalueeringsraamwerk. Die leesstof was hersien om 'n evalueerings raamwerk te ontwikkel; 'n evalueerings proses te vestig; die konstruksie van 'n toepassende toetsformaat aan te help. Die toets-instrument was ontwerp gebaseer op die beginsels van toets konstruksie en die Kirkpatrick model vir evalueering. Data is bymekaar gemaak vir voor- en na-toetse vir fases 2 en 3, geanaliseer deur middel van beskrywende statistieke en daar is verslag daarop gedoen by die begin van elke fase asook by die Handeisskou. Die evalueering resultate was baie positief en die evalueerings proses is saamgebring by die ontwerp van alle toekomende College tussenkomstes.

Thesis (MBA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: This study is essentially an investigation into perceptions that exist in the medical field with regards to generic medicines and generic substitution. The study was conducted via the sampling of a variety of physicians, specialists and pharmacists in the Cape Peninsula. The primary test for these perceptions was the application of a five page questionnaire that the targeted sample group had to complete. South Africa entered a new era on political, social and economic levels with the election of a new democratic government. The reality is that South Africa is becoming more and more a third world country with deteriorating systems of health care and education, as a direct result of a shortage of funds and inadequate management or total lack thereof. It has also become more and more evident recently that this country is experiencing a "brain-drain", in that experienced and highly qualified people are leaving the country for mostly other first world countries, because they can no longer operate efficiently and effectively under the constraints imposed upon them by a shrinking health care budget. Government and private health departments constantly have to face the battle of containing costs so that they can operate in the way that they are supposed to. Unfortunately, with the constant escalation in the prices of medicine every year combined with a limited availability of funds, the problem just becomes worse every day with patients and medical aids suffering the most. One possible way in which an attempt could be made to reduce costs is to decrease the expenses of medicine, making more money available in other areas, or that the need for more medicines could be satisfied via having more money available as a result of these savings. Generic medicines are known to be less expensive than their ethical counterparts and can therefore contribute greatly to savings in this area, seeing that generic medicines mostly sell at 40%-50% of the price of the original. There are obviously more issues involved than just costs: the ethical issue of moral support to the ethical manufacturers that have done all the research and development of the original drug that now becomes "copied"; the issue of.quality and reliability of these "copycat" medicines; and the issue of the role that people in the medical field, government and other bodies should play in containing costs. These issues were addressed in the form of statements in the questionnaire and opinions were tested to see what perceptions exist, so that the marketers of medicines would know how to formulate their marketing plans and strategies in order to attain a bigger market share, or how to protect their current share of the market. The information should also prove handy to government and private health care organisations that should endeavour to contain costs wherever they can, seeing that they operate within the constraint of an allocated budget. / AFRIKAANSE OPSOMMING: Hierdie studie projek is essensieel 'n ondersoek na persepsies wat bestaan in die mediese veld met betrekking tot generiese medisynes en generiese plaasvervanging. Vir die doel van die studie is "mediese veld" gedefinieer as die verskillende kategorieë van mediese dokters en aptekers wat elke dag met die vraagstuk te make het. Die steekproef was dus mediese dokters, spesialiste en aptekers in die Kaapse Skiereiland. Die primere toetsinstrument was 'n vyf-bladsy vraelys wat 35 stellings bevat het waarin 8 faktore verskans was waarvoor die navorser getoets het. Suid-Afrika het 'n nuwe era betree met die daarstelling en verkiesing van 'n nuwe demokratiese regering van nasionale eenheid waarin alle Suid-Afrikaners deelname het. Die realiteite van Suid-Afrika vandag is dat dit meer en meer sy derde wêreld komponente openbaar waarvan die bestaan vantevore deur die eerste wêreld komponent geïgnoreer is. Die resultaat is dat gesondheidsorg en opvoedkundige sisteme aan die verkrummel is vanweë 'n tekort aan fondse asook oneffektiewe bestuur. Dit is dan ook onvermydelik dat 'n groot aantalleiers en kenners op hierdie gebiede besluit om die land te verlaat en na hoofsaaklik eerste wêreld lande emigreer, waar hulle in 'n veel mindere mate te kampe het met die probleme van swak bestuur en veral onder befondsing in die onderskeie areas van hulle spesialiteit. Dit laat 'n gaping wat gevul moet word deur swakker bestuur wat die probleem vererger. Regering- en privaat mediese departemente gaan gebuk onder die las van krimpende begrotings en 'n stygende vraag na mediese sorg, medisynes en ander geriewe. Dit is ook 'n voldonge feit dat mediese tariewe bly styg, dat medisynes konstant al hoe duurder word en dat daagliks waargeneem word dat daar 'n ondervoorsiening van personeel en medikasie in hospitale en ander gesondheidsorganisasies is. Die partye wat aan die kortste end trek is die pasient en die mediese fondse. Een moontlike wyse waarop hierdie probleem van stygende kostes aangespreek kan word is om die uitgawes op medisynes te beperk sonder om minder medisynes te koop, sodat meer geld beskikbaar sal wees vir ander behoeftes. Dit is bekend dat generiese medisynes heelwat goedkoper is as hulle etiese "broers" en dat die gebruikmaking hiervan kan lei tot besparings so groot as selfs 60% en meer. Daar is duidelik meer vraagstukke betrokke rondom die hele aangeleentheid van generiese medisynes en generiese plaasvervanging soos: die etiese vraagstuk aangaande morele ondersteuning aan die etiese firmas wat al die navorsing en ontwikkeling van die oorspronklike produkte doen en wat nou net gedupliseer word deur die generiese vervaardigers; die vraagstuk aangaande die betroubaarheid en kwaliteit van hierdie "duplikate"; asook die vraagstuk rondom die rol wat persone in die mediese veld en regerings- en- privaatinstansies moet vervul in die bekamping van stygende kostes. Hierdie vraagstukke is geadresseer in die vraelyste as stellings en opinies is getoets om vas te stel wat die huidige persepsies rondom die aangeleentheid van generiese produkte en generiese plaasvervanging is. Die belang van die kennis van hierdie opinies en persepsies is dat dit onontbeerlike inligting verskaf aan die bemarkers van farmaseutiese produkte en medisynes aangesien 'n bemarkingsplan en bemarkingstrategie hier rondom gevorm kan word, sodat maniere uitgewerk kan word om markaandeel te vergroot of om markaandeel te behou.

Thesis (MBA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: This mini-study project was undertaken to investigate the dynamics of the international wine industry in an era of increased globalisation. The capacity of old and new wine producing countries to adapt to the new dynamics was assessed by determining their competitive positions in the global industry. The impact of industry driving forces on trends and future developments was determined and predictions were made for the immediate future of the industry. The cyclical nature of the global wine industry was investigated and the industry's ability to balance supply and demand in the foreseeable future was assessed. Recommendations were finally made on how to establish greater stability in the global wine industry. Wine consumption in traditional wine countries decreased as a result of changing life styles, and prompted the wine industry to focus increasingly on importing countries. Transformation within the wine industry is assisted by the innovative and aggressive marketing strategies of new wine countries. Product differentiation, brand building and the development of a more effective distribution channel are allowing new wine countries to increase market share at the expense of old wine countries. The global wine industry experiences cyclical instability in supply and demand. Evidence suggests that a cycle is completed every eight years. A threatening oversupply of quality white wine will result in increased competition and lower prices, while red wine supply is likely to exceed demand from 2003 onwards. The wine industry needs to introduce some measure of control to co-ordinate expansion and replacement programs of vineyards with an increased quality focus. Producers and wineries will have to be far more sensitive to changing consumer attitudes and life styles and should develop appropriate production strategies in order to meet changing demands. / AFRIKAANSE OPSOMMING: Hierdie werkstuk is onderneem om die veranderende dinamika binne die internasionale wynindustrie te ondersoek teen 'n agtergrond van toenemende globalisering. Die vermoë van oud en nuwe wêreld produksielande om aan te pas by veranderinge is beoordeel deur die bepaling van hul onderskeie mededingende posisies in die globale wynindustrie. Die impak van industrie-dryfkragte op tendense en toekomstige verwikkelinge is ondersoek en voorspellings is gemaak vir die onmiddellike toekoms van die industrie. Die sikliese aard van die globale wynbedryf is ondersoek, sowel as die vermoë van die bedryf om vraag en aanbod in die afsienbare toekoms te stabiliseer. Ter afsluiting word aanbevelings gemaak ten einde groter stabiliteit in die bedryf te bewerkstellig. Leefstyl veranderinge en 'n gepaardgaande daling in wynverbruik in tradisionele wynlande, veroorsaak dat die internasionale wynindustrie sy aandag toenemend op invoerlande vestig. Vernuwing in die bedryf word aangevuur deur die kragtige bemarkingsaanslag van nuwe wêreldlande. Deur differensiasie van hul produkte, handelsmerkontwikkeling en die uitbou van 'n meer effektiewe distribusiekanaal, slaag nuwe wynlande reeds daarin om hul internasionale markaandeel uit te bou ten koste van ou wynlande. Die globale wynbedryf ervaar sikliese onstabiliteit in vraag en aanbod en bewyse is gevind dat die siklus elke agt jaar voltooi word. 'n Dreigende ooraanbod van hoë kwaliteit witwyn sal lei tot strawwer mededinging en laer wynpryse. Die rooiwynaanbod sal moontlik teen 2003 die vraag oorskry. 'n Mate van beheer word onder meer vir die industrie voorgestel om te verseker dat uitbreiding en vervanging van wingerde beheersd en kwaliteitgerig sal geskied. Groter bewustheid van moontlike verandering van verbruikersvoorkeure en daadwerklike aksie is krities belangrik, ten einde 'n herhaling van die afgelope dertig jaar se negatiewe groei tendens te voorkom.

Thesis (MBA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: The study project is aimed at providing an insight into the concept of globalisation, its implications and the challenges for the unit trust industry in South Africa. The purpose is to gain a better understanding of the evolution of the unit trust industry, offshore investment, regulations in South Africa and the influence of these on the unit trust industry. Globalisation is influencing the way industries operate across all spectrums of business. The unit trust industry in South Africa is no exception to this rule. The unit trust industry has developed slowly over the years, but globalisation is forcing the industry to change much more rapidly. In this century the unit trust industry will be faced with challenges that could involve the development of new strategies. Globalisation is synonymous with the rapid acceleration of economic acrossborder transactions. Geographic location and time constraints are no longer major obstacles, because knowledge has become increasingly mobile due to globalisation. Technological advances and the dissemination of information lie at the heart of globalisation. The primary globalisation process is characterised by a continuously reinforced interaction between political, economic and technological factors. Reasons why people would invest in a unit trust are discussed, as well as the major players in the industry. The importance of regulatory legislation is discussed by examining the present Act and the two new proposals. The writer aims to indicate that the effects of globalisation have serious implications and present exciting challenges for the industry. The study refers to numerous articles and interviews with people in the industry. It makes the role of globalisation in the unit trust industry of South Africa clear and understandable. / AFRIKAANSE OPSOMMING: Die oogmerk van die werkstuk kan primêr soos volg saamgevat word: om insig te verkry rakende die begrip "globalisering", en om die gepaardgaande implikasies en uitdagings vir die effektetrust bedryf in Suid-Afrika te ondersoek. Voorafgaande dui dus op die daarstel van 'n beter begrip rakende die evolusie van die effektetrustbedryf, buitelandse beleggings, regulasies in Suid-Afrika en die invloed daarvan op die bedryf. Globalisering beïnvloed die wyse waarop alle bedrywe die besigheidswêreld benader. Die effektetrustbedryf in Suid-Afrika is geen uitsondering op die reël nie. Die effektetrustbedryf het oor die afgelope jare stadig ontwikkel, maar globalisering verplig dit om vinniger te verander. In hierdie eeu gaan die bedryf voor verskeie uitdagings te staan kom, met die gevolg dat nuwe strategieë ontwikkel moet word. Globalisering is sinoniem met die versnelling van ekonomiese transaksies oor landsgrense heen. Geografiese ligging en tydbeperkings sal in die toekoms nie meer groot hindernisse wees nie, omdat kennis meer beweeglik geword het as gevolg van globalisering. Tegnologiese vooruitgang en die verspreiding van informasie is die dryfkrag van globalisering. Die primêre globaliseringsprosesse word gekenmerk deur 'n deurlopend versterkte interaksie tussen politieke, ekonomiese en tegnologiese faktore. Daar word gekyk na die redes waarom mense in effektetrusts sal belê, asook die belangrikste rolspelers in die bedryf. Die belangrikheid van die wet wat die bedryf beheer word bespreek deur te kyk na die huidige wet en ook na die twee voorgestelde wette. Die skrywer poog om aan te dui dat die effek van globalisering sekere implikasies vir die bedryf het en ook opwindende uitdagings vir die bedryf bied. Die studie verwys na verskeie artikels en onderhoude met mense in die bedryf. Dit maak die rol van globalisering in die effektetrust bedryf in Suid-Afrika duidelik en verstaanbaar.

Thesis (MBA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: This research project investigates potential solutions for organizations to implement and utilize project management successfully. The focus is on changes required to "conventional" (functionally structured) management systems, in order to achieve project success. This area of investigation is becoming of critical importance to organizations, for two primary reasons: • The ever-increasing magnitude, complexity and multi-disciplinary nature of projects, compounded by a relentless pursuit of more efficient and effective operating procedures, and • The dynamic, uncertain and risky modem business environment, as highlighted by factors such as globalization, rapid technological change and a turbulent economic climate. The topic spans a number of management fields (including organizational development, strategic management and people management) within the broader context of project management. The study consists of a literature review of approximately 80 books and articles, as well as research conducted on relevant Internet-sites. These sources contain the views and findings of leading authors in the abovementioned fields of expertise. The research project is broken down into the following chapters: ~ General introduction to the research topic. ~ Overview of the functional organization; definition of projects; definition and description of project management, project success and the measurement thereof; discussion of environmental factors that make the utilization of project management desirable. ~ Consideration of potential solutions, including a description and evaluation of various organizational structures within the context of project management; emphasis is placed on matrix management and the building of cross-functional communication and coordination. Development of a strategy for the implementation of project management, encompassing: identification of the current organizational structure and culture; determination of the desired/optimal structure; identification of the interventions required to facilitate this transition. Attention is paid to the driving and restraining forces for change, as well as critical success factors. ~ Discussion of transitional management, with emphasis on the important inter-relationship between structure, culture, systems and processes. ~ Conclusions and recommendations summarize the main issues that need to be addressed. The following review is by no means exhaustive, because of the vast amount of literature available on project management and sciences related to this field of study. However, it serves as a comprehensive overview of organizational change to facilitate the successful implementation of project management. / AFRIKAANSE OPSOMMING: Hierdie navorsingsprojek ondersoek moontlike oplossings, vir benutting deur organisasies, ter suksesvolle implementering en benutting van projekbestuur. Fokus is geplaas op die nodige veranderinge wat in konvensionele (funksioneel gestruktureerde) bestuurstelsels moet plaasvind om sodoende projeksukses te behaal. Hierdie ondersoekgebied word van kritiese belang vir organisasies, as gevolg van twee primêre redes: • Die toenemende omvang, kompleksiteit en veelvuldige dissiplines van projekte, vererger deur 'n ononderbroke strewe na groter effektiwiteit en doeltreffendheid ten opsigte van operasionele prosedures, en • Die dinamika, onsekerheid en risiko verbonde aan die moderne besigheidsomgewing, soos onderskryf deur faktore soos globalisering, snelle tegnologiese verandering en 'n onseker ekonomiese klimaat. Die onderwerp omvat verskeie bestuursvakgebiede (insluitend organisasie-ontwikkeling, strategiese bestuur en mensebestuur) binne die konteks van projekbestuur. Die studie sluit in 'n literatuuroorsig van ongeveer 90 boeke en artikels, asook navorsingpublikasies op toepaslike Internet-kuberruimtes. Hierdie bronne sluit in die sienings en bevindings van vooraanstaande outeurs in die bogenoemde vakgebiede. Die navorsingsprojek bestaan uit die volgende hoofstukke: ~ Algemene inleiding ten opsigte van die navorsingsonderwerp ~ Oorsig van die funksionele organisasie, definisie van projekte, definisie en beskrywing van projekbestuur, projeksukses en die meting daarvan; bespreking van die omgewingsfaktore wat die gebruik van projekbestuur wenslik maak ~ Oorwegings van moontlike oplossings, insluitend 'n beskrywing en evaluasie van verskeie organisasiestrukture binne die konteks van projekbestuur; daar is klem geplaas op matriksbestuur en die bou van kruisfunksionele kommunikasie en - koordinasie ~ Ontwikkeling van 'n strategie vir die implementering van projekbestuur wat insluit: identifikasie van bestaande organisasiestruktuur en -kultuur; bepaling van die verlangde/optimale struktuur; identifisering van nodige intervensies om hierdie transformasie te fasiliteer. Aandag is geskenk aan die dryf- en stremmingsfaktore ten opsigte van verandering, asook kritiese suksesfaktore ~ Bespreking van oorgangsbestuur, met die klem op die belangrike onderlinge verband tussen struktuur, kultuur, stelsels en prosesse ~ Gevolgtrekkings en aanbevelings som die belangrikste vraagpunte, wat aangespreek moet word, op. As gevolg van die ontsaglike hoeveelheid beskikbare literatuur oor projekbestuur en verbandhoudende wetenskappe, is die volgende oorsig nie veelomvattend nie. Dit dien wel as 'n omvattende/uitgebreide oorsig van organisatoriese verandering soos toegepas om die suksesvolle implementering van projekbestuur te fasiliteer.

Thesis (MBA)--Stellenbosch University, 2000. / Dividends are probable the most controversial subject in the finance literature. Dividends are paid cent for cent from company profits. Besides having tax implications on the company, they reduce sources of internal finance for the company. On the other hand, the value of a company is the net present value of cash flows. Theoretically a company that does not pay dividends now and at anytime in the future has a value of zero. Companies have dividend policies applicable to themselves. It is therefore valid to argue that the revision of the dividend policy has an underlying reason. This study was done to investigate the effect of unexpected dividend policy changes to daily share price movement. This study seeks to establish the validity of the much-debated subject of information significance of dividends. Past studies at most failed to converge to an agreement on information significance of dividends. The investigation revealed that there were no significant abnórmal returns earned on the announcement date on three out of four instances. However the results of the cumulative abnormal returns revealed that share prices react to dividend changes during the period of investigation i.e. twenty days before and twenty days after the announcement. The overall adjustment in share prices over the period studied is in the same direction as the dividend charge. The investigation also revealed that price adjustments take place before and after the announcement date. Price adjustments on the Johannesburg Stock Exchange were not efficient as compared to adjustments on the New York Stock Exchange. Share price adjustments on the New York Stock Exchange took place during the period of a day before and a day after the announcement. The lack of similarity can be attributed to either sophistication of the market participants or efficiency of the Johannesburg Stock Exchange.

Thesis (MBA)--Stellenbosch Universiteit, 2000. / ENGLISH ABSTRACT: The important changes in real interest rates, deregulation, amalgamation and the change of enterprise form from co-operatives to companies, require a new approach towards the utilisation and management of capital in the agricultural business. The economic environment has changed from a situation where management used nearly uncontrolled amounts of capital to get turnover, towards a capital scarce situation where capital is applied with caution and where profits are required. This new approach calls for focus on working capital. This study proposes a conceptual approach to the evaluation of the management of cash. The concept of a STREAM / WELL of cash, as used by Hamman (1999) at the Business School of the University of Stellenbosch, is described. The cash flow statements of some co-operatives have been standardised to produce comparable figures for income from operating -, investment- and financing activities. The STREAM / WELL approach with a graphic presentation of income from operating -, investment - and financing activities are used to demonstrate the usefulness thereof. The conclusion is made that profit margins are too low in this kind of business because of a lower than needed mark-up. The working capital cycle is too long in most of the businesses, which indicates that too much working capital is used to generate the income. Lastly, the growth in turnover is as a determinant factor for working capital, too unpredictable and uncontrolled because of inherent qualities of this business environment. The risk in this market, because of climate and uncontrollable factors, is not calculated but indications are that this risk is high. / AFRIKAANSE OPSOMMING: Die ingrypende verandering van reële rentekoerse, deregulering, amalgamasies en omskakeling van koöperasies na maatskappye, verg nuwe benaderings tot die bestuur en aanwending van kapitaal in die landbou. Vanuit 'n omgewing waar omsette nagejaag is met feitlik onbeperkte toegang tot fondse, het die landbouondernemings se benadering verander na ondernemings met beperkte kapitaal wat oordeelkundig aangewend moet word en bevredigende opbrengste moet lewer. Hierdie tendens noodsaak 'n gefokusde benadering tot die bestuur van bedryfskapitaal. Die studie stel 'n konsepsuele benadering voor om ondernemings se bestuur van kontant, soos gerapporteer in kontantvloeistate, te evalueer. Die konsep van 'n STROOM / PUT benadering, soos jare lank deur Hamman (1999) gebruik om die begrippe te verduidelik aan die Bestuurskool van die Universiteit van Stellenbosch, word omskryf. Die kontantvloeistate van 'n aantal landbouondernemings is gestandaardiseer om vergelykende opbrengste uit bedryfs-, investerings- en finansieringsaktiwiteite te bereken. Die STROOM / PUT benadering word saam met 'n grafiese voorstelling van die bydraes uit bedryfs-, investerings- en finansieringsaktiwiteite gebruik om die aanwending daarvan te demonstreer. Daar word tot die slotsom gekom dat winsgewendheid te laag is in ondernemings van dié aard hoofsaaklik omdat winsgrense te laag is. Oor die algemeen is die bedryfskapitaalsiklus te lank, wat daarop dui dat te veel bedryfskapitaal aangewend word om die opbrengs te genereer. Laastens is die groei in omset, as bepaler van die vraag na bedryfskapitaal, ongekontroleerd en wisselvallig as gevolg van die inherente eienskappe van die landbou sakeomgewing. Die risiko opgesluit in dié markomgewing wat grootliks deur klimaat en ander onbeheerbare faktore beïnvloed word, word nie bereken nie, maar die studie dui op besondere hoë risiko's van dié aard.

Thesis (MBA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: It was found that the hot metal cost of ISCOR Newcastle's single blast furnace can significantly be reduced by the correct use of an integrated model to predict reductant cost based mainly on coal blend. The model uses coal ash chemistry, fluiidity, vitrinite rank and volatile matter to predict coke strength after reaction (CSR), coke ash and coking yield. CSR is used to predict maximum allowable coke nut- and pea consumption in the furnace as well as hot blast temperature. Pitch injection levels are predicted using CSR and blast furnace production rates. Coke ash, pitch injection and hot blast temperature is used to predict the coke rate. The above is used with imported Chinese coke cost to accurately predict reductant cost. It was found that the current optimum blends should include Australian en Nieu Zeeland coals because of price and quality conciderations. Because of its low cost of production and low quality the optimum percentage of Grootegeluk in the blend is determined largely by its transfer price. / AFRIKAANSE OPSOMMING: Die vloeiyster koste van ISCOR Newcastle se enigste hoogoond kan drasties verlaag word deur die korrekte gebruik van 'n geïntegreerde model wat reduktant koste voorspel op grond van steenkoolmengsel. Die model gebruik die chemiese samestelling van steenkool-as, fluiiditeit, vitriniet rang en vlugstof om kooks warmsterkte (SNR), kooks-as en verkooksingsopbrengs te voorspel. SNR is gebruik om die maksimum kooksneute- en -erteverbruik in die hoogoond sowel as blaastemperatuur te voorspel. Pikinspuiting is bereken met SNR en hoogoond produksietempo's. Pikinspuiting en blaastemperatuur word saam met kooks-as gebruik om kookskoers te voorspel. Bogenoemde is saam met die koste van ingevoerde Chinese kooks gebruik om reduktant koste akkuraat te voorspel. Daar was bevind dat die huidige optimum mengsels Australiese en Nieu Zeelandse steenkool moet bevat as gevolg van huidige prys- en kwaliteitsoorwegings. As gevolg van sy lae produksiekoste en lae kwaliteit word die optimum hoeveelheid Grootegeluk bepaal deur sy oordragprys.