Study project (MBA)--University of Stellenbosch, 2002. / ENGLISH ABSTRACT: The one factor in the current business environment that provides an organisation with a competitive advantage, is human capital. It can make the difference between success and failure. In an organisation like Rex Mining it is especially important for a strong human capital base to meet the challenges that the marginal diamond mines present. It is not a question of finance. Human capital development is determined by the people management practices in an organisation, things they already do. The difference between building and breaking down human capital is just a matter of quality and appropriateness of these practices. The measurement of the ability of an organisation to develop human capital was always problematic because of the nature of it. Buckingham and Coffman developed an easy and valid measuring instrument to help organisations measure this very important factor. The questionnaire they developed now makes it possible for every organisation to make a determination of where it stands in terms of its ability to develop human capital. An investment in human capital will always give a return on the investment. The size of the return will be determined by the time and energy spend on the investment by the organisation. This investment does not depreciate. An investment in human capital will ensure optimal productivity, efficiency and effectiveness in the organisation and that targets will be reached and exceeded. Healthy people management practices are the basis upon which the development of human capital rests. In a changing South Africa different demands are made upon organisations in terms of their human capital. Each individual has his own goals and career plans and if the organisation cannot satisfy those demands the employee will offer his services to the employer that can satisfy his needs. / AFRIKAANSE OPSOMMING: Menslike kapitaal is in die hedendaaqse sakewêreld die een faktor wat aan 'n organisasie die kompeterende voordeel gee. Dit kan die verskil tussen sukses en mislukking bepaal. In 'n organisasie soos Rex Mining is dit juis belangrik dat menslike kapitaal sterk moet wees ten einde die geweldige uitdagings wat die marginale diamantmyne stel, die hoof te kan bied. Dit is ook nie 'n kwessie van finansies nie. Menslike kapitaalontwikkeling word bepaal deur die mensebestuurspraktyke in 'n organisasie, dinge wat elke organisasie reeds doen. Dit is net die kwaliteit en toepaslikheid van hierdie praktyke wat die verskil maak tussen die opbou en afbreek van menslike kapitaal. Die meting van die vermoë van 'n organisasie om menslike kapitaal te ontwikkel, was altyd problematies vanweë die aard daarvan. Buckingham en Coffman het egter 'n baie maklike en geldige meetinstrument daargestelom organisasies te help om hierdie baie belangrike faktor te meet. Die vraelys wat hulle ontwikkel het, maak dit nou moontlik vir elke organisasie om 'n bepaling te maak ten opsigte van die organisasie se vermoë om sy menslike kapitaal te ontwikkel. 'n Belegging in menslike kapitaal sal altyd 'n opbrengs lewer. Die grootte van die opbrengs sal afhang van die hoeveelheid tyd en energie wat die organisasie bestee het aan die belegging. Hierdie belegging verloor ook nooit sy waarde nie. 'n Belegging in die menslike kapitaal van 'n organisasie sal verseker dat produktiwiteit, effektiwiteit en doeltreffendheid optimaal sal wees en dat die organisasie altyd doelwitte sal behaal en oorskry. Gesonde mensebestuurspraktyke is die basis waarop die hele ontwikkeling van menslike kapitaal berus. In die veranderende Suid-Afrika word nuwe vereistes aan organisasies gestel in terme van hulle menslike kapitaal. Elke individu het sy eie doelwitte en loopbaanplanne en as die organisasie waar hy of sy werk, nie hieraan kan voldoen nie, sal die werknemer sy dienste aan 'n werkgewer bied wat wel sy behoeftes kan bevredig.

Thesis (MComm)--Stellenbosch University, 2013. / In this thesis, based on historical data, a comparative study is conducted of various annuity strategies for South African males who retired during the 30 years from 1960 to 1989. To this end, the present values of the monthly cash ows provided by di erent annuity strategies are calculated and compared in order to ascertain which strategy would have provided the largest nancial bene ts. In contrast to previously held general beliefs, the calculations demonstrate that pure living annuity strategies are superior to composite annuity strategies, which in turn outperform switching annuity strategies, whereas pure life annuities yield the lowest return.

Thesis (MComm)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: Individual and institutional investors alike are continuously searching for investment styles and strategies that can yield enhanced risk-adjusted portfolio returns. In this regard, a number of investment styles have emerged in empirical analysis as explanatory factors of portfolio return. These include size (the rationale that small stocks outperform large stocks), value (high book-to-market ratio stocks outperform low book-to-market ratio stocks) and momentum (stocks currently outperforming will continue to do so). During the mid-eighties it has been proposed that liquidity (investing in low liquidity stocks relative to high liquidity stocks) is a missing investment style that can further enhance the risk-adjusted performance in the United States equity market. In the South African equity market this so-called liquidity effect, however, has remained largely unexplored. The focus of this study was therefore to determine whether the liquidity effect is prevalent in the South African equity market and whether by employing a liquidity strategy an investor could enhance risk-adjusted returns. This study was conducted over a period of 17 years, from 1996 to 2012. As a primary objective, this study analysed liquidity as a risk factor affecting portfolio returns, first as a residual purged from the influence of the market premium, size and book-to-market (value/growth) factors, and then in the presence of these explanatory factors affecting stock returns. Next, as a secondary objective, this study explored whether incorporating a liquidity style into passive portfolio strategies yielded enhanced risk-adjusted performance relative to other pure-liquidity and liquidity-neutral passive ‘style index’ strategies. The results from this study indicated that liquidity is not a statistically significant risk factor affecting broad market returns in the South African equity market. Instead the effect of liquidity is significant in small and low liquidity portfolios only. However, the study indicated that including liquidity as a risk factor improved the Fama-French three-factor model in capturing shared variation in stock returns. Lastly, incorporating a liquidity style into passive portfolio strategies yielded weak evidence of enhanced risk-adjusted performance relative to other pure-liquidity and liquidity-neutral passive ‘style index’ strategies. This research ultimately provided a better understanding of the return generating process of the South African equity market. It analysed previously omitted variables and gave an indication of how these factors influence returns. Furthermore, in analysing the risk- adjusted performance of liquidity-biased portfolio strategies, light was shed upon how a liquidity bias could influence portfolio returns. / AFRIKAANSE OPSOMMING: Individuele en institusionele beleggers is voortdurend op soek na beleggingstyle en strategieë wat verhoogde risiko-aangepaste portefeulje-opbrengste kan lewer. In hierdie verband is ’n aantal beleggingstyle deur empiriese analise geïdentifiseer as verklarende faktore van portefeulje-opbrengs. Hierdie style sluit in: grootte (die rasionaal dat klein aandele beter presteer as groot aandele), waarde (hoë boek-tot-mark verhouding aandele presteer beter as lae boek-tot-mark verhouding aandele) en momentum (aandele wat tans oorpresteer sal daarmee voortduur). Gedurende die midtagtigs is dit aangevoer dat likiditeit (die belegging in lae likiditeit aandele relatief tot hoë likiditeit aandele) ’n ontbrekende beleggingstyl is wat die risiko- aangepaste prestasie in die Verenigde State van Amerika (VSA) aandelemark verder kan verhoog. In die Suid-Afrikaanse aandelemark bly hierdie sogenaamde likiditeit-effek egter grootliks onverken. Die fokus van hierdie studie was dus om te bepaal of die likiditeit-effek teenwoordig is in die Suid-Afrikaanse aandelemark en of dit vir ’n belegger moontlik is om risiko-aangepaste opbrengste te verbeter deur ’n likiditeit-strategie te volg. Die studie is uitgevoer oor ’n tydperk van 17 jaar, vanaf 1996 tot 2012. As ’n primêre doelwit het hierdie studie likiditeit ontleed as ’n risiko faktor van portefeulje-opbrengste, eers as ’n residu-effek vry van die invloed van die markpremie, grootte en boek-tot-mark (waarde/groei) faktore, en daarna in die teenwoordigheid van hierdie verklarende faktore van aandeel opbrengste. As ’n sekondêre doelwit, het hierdie studie ondersoek of die insluiting van ’n likiditeit-styl in passiewe portefeulje-strategieë verbeterde risiko- aangepaste prestasie kan lewer relatief tot ander suiwer-likiditeit en likiditeit-neutrale passiewe ‘styl indeks’ strategieë. Die resultate van hierdie studie het aangedui dat likiditeit nie ’n statisties beduidende risiko faktor is wat die breë markopbrengs in die Suid-Afrikaanse aandelemark beïnvloed nie. In plaas daarvan is die effek van likiditeit beperk tot slegs klein en lae likiditeit portefeuljes. Die studie het wel aangedui dat die insluiting van likiditeit as ’n risiko faktor die Fama- French drie-faktor model verbeter in sy vermoë om die gedeelde variasie in aandeel opbrengste te verduidelik. Laastens lewer passiewe portefeulje strategieë, geïnkorporeer met ’n likiditeit-styl, swak bewyse van verbeterde risiko-aangepaste opbrengs relatief tot ander suiwer-likiditeit en likiditeit-neutrale passiewe ‘styl indeks’ strategieë. Hierdie navorsing verskaf ’n beter begrip van die opbrengs-genererende proses van die Suid-Afrikaanse aandelemark. Dit ontleed voorheen weggelate veranderlikes en gee ’n aanduiding van hoe hierdie faktore opbrengste beïnvloed. Daarbenewens word lig gewerp op die invloed van ’n likiditeit vooroordeel op portefeulje-opbrengste deur die risiko- aangepaste opbrengs van likiditeit-bevooroordeelde strategieë te analiseer.

Thesis (MComm)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: Strategic innovation originated as a concept in academic literature in the 1990’s, and provides companies with the opportunity for substantial value creation. Previous research has shown how the learning or process aspects of a company foster strategic innovation capacity, or the ability of a company to systematically create strategic innovation initiatives. However, an understanding of the role of the content aspects or the drivers of strategic innovation – Strategy Processes, People, Culture and Resources – remains problematic. Despite a heightened awareness and interest by both scholars and practitioners in studying and better understanding strategic innovation, it is still regarded as an emerging field of inquiry. Additionally, limited research has been conducted on strategic innovation in a South African context. As such, a limited base of empirical research for strategic innovation exists. To address this lack of empirical research a literature review of strategic innovation was conducted, highlighting any research gaps; an empirical study was then executed. The literature review first investigated strategic innovation as a topic, identifying the antecedents to; the results of; and motivations for strategic innovation. Subsequently, a theoretical link between strategic innovation capacity and the drivers of strategic innovation was established. Lastly, each driver of strategic innovation was individually explored for the purpose of operationalising each driver for empirical analysis. The review of strategic innovation literature revealed a research gap that culminated in the following research question: How do the drivers of strategic innovation affect the strategic innovation capacity of selected banks? The empirical study consisted of a mixed-methodology design, conducted in two phases. First the sample was narrowed to include only the most appropriate banks, this being the most significant sector of the financial services sector in South Africa. The first phase of research consisted of semi-structured interviews conducted with the six most qualified individuals across the participating banks. This phase of research was used to refine the identified antecedent elements of the drivers of strategic innovation, and develop the sample for the second phase of research. The interviews were recorded, transcribed, and subjected to thematic analysis to generate findings. The findings of the qualitative phase show that the antecedent elements of the drivers in South African banks are consistent with the literature. Although no new South African specific elements were discovered, external factors for managerial consideration were noted. This emphasises that South African banks should adopt global best practices for their field, whilst taking into consideration the unique South African circumstances. The second phase of research made use of cross-sectional electronic questionnaires to gather interval data on the drivers of strategic innovation and strategic innovation capacity. The questionnaire was developed from the findings of the first phase of research and distributed to 125 individuals, 53 completed responses were received, yielding a response rate of 42.4%. All the constructs were measured to be reliable using Cronbach’s alpha and the collected data were analysed using descriptive and inferential statistics. The findings of the quantitative phase indicate that the drivers of strategic innovation have a significant positive relationship with strategic innovation capacity. This finding underlines the important role managers can play in fostering a company’s ability to systematically create strategic innovation initiatives. The driver with the strongest relationship with strategic innovation capacity was shown to be Culture, emphasising the importance of creating an organisational culture geared towards innovation. The second strongest driver was Resources, followed by People, and lastly Strategy Processes which had the lowest significant positive relationship with strategic innovation capacity. The findings also showed that the inter-driver relationships were significantly positive, with Culture once again displaying the strongest correlation values. The most important contribution of this study is the empirical evaluation of the relationship between the drivers of strategic innovation and strategic innovation capacity in the South African banking context. The establishment of this relationship creates a solid platform upon which future studies may build through the highlighted areas for further study. The findings also provide management with a means to assess the levels of the drivers, as well as antecedents on which to focus when staging managerial interventions for their improvement. / AFRIKAANSE OPSOMMING: Strategiese innovering het ontstaan as 'n konsep in die akademiese literatuur in die 1990's, en bied maatskappye ’n geleentheid vir aansienlike waardeskepping. Vorige navorsing het getoon hoe die leer- of prosesaspekte van ’n maatskappy strategiese innoveringskapasiteit, of die vermoë van ’n maatskappy om stelselmatig innoveringsinisiatiewe te skep, bevorder. ’n Begrip van die rol van die dryfkragte agter strategiese innovering – Strategieprosesse, Mense, Kultuur en Hulpbronne – bly egter problematies. Ten spyte van groter belangstelling in die studie van strategiese innovering vanuit die akademie sowel as die praktyk, word dit steeds as ’n ontluikende navorsingsveld beskou. Verder is slegs beperkte navorsing oor strategiese innovering in ’n Suid-Afrikaanse konteks reeds gedoen. Daar bestaan dus ’n beperkte basis van empiriese navorsing vir strategiese innovering. Om hierdie gebrek aan navorsing aan te spreek, is ’n literatuuroorsig van strategiese innovering gedoen wat navorsingsleemtes uitgewys het; ’n empiriese studie is toe uitgevoer. Die literatuuroorsig het eerstens strategiese innovering ondersoek deur die voorgangers van; resultate van; en motiverings vir strategiese innovering te identifiseer. Vervolgens is ’n teoretiese skakel tussen strategiese innoveringskapasiteit en die dryfkragte agter strategiese innovering vasgestel. Laastens is elke dryfkrag individueel ondersoek met die doel om dit te operasionaliseer vir empiriese ontleding. Die literatuuroorsig het ’n navorsingsleemte onthul wat tot die volgende navorsingsvraag gelei het: Hoe beïnvloed die dryfkragte agter strategiese innovering die strategiese innoveringskapasiteit van die gekose banke? Die studie het bestaan uit ’n gemengdemetodologie-ontwerp wat in twee fases uitgevoer is. Die eerste fase het bestaan uit semi-gestruktureerde onderhoude met die ses mees gekwalifiseerde individue vanuit die deelnemende banke. Hierdie fase is gebruik om die geïdentifiseerde voorafgaande elemente van die dryfkragte agter strategiese innovering te verfyn, en om die steekproef vir die tweede fase te ontwikkel. Die onderhoude is opgeneem, getranskribeer en onderwerp aan tematiese ontleding om bevindinge te genereer. Die bevindinge van die kwalitatiewe fase wys dat die voorafgaande elemente van die dryfkragte in Suid-Afrikaanse banke strook met die literatuur. Alhoewel geen nuwe, spesifiek Suid- Afrikaanse elemente ontdek is nie, is eksterne faktore vir bestuursoorweging opgemerk. Dít beklemtoon dat Suid-Afrikaanse banke behoort te hou by die wêreldwye beste praktyke vir hulle veld, terwyl hulle steeds die unieke Suid-Afrikaanse omstandighede in ag moet neem. Die tweede fase het elektroniese deursnitvraelyste gebruik om intervaldata oor die dryfkragte agter strategiese innovering en strategiese innoveringskapasiteit in te samel. Die vraelys is ontwikkel uit die eerste fase se bevindinge en is versprei aan 125 individue; 53 volledige response is ontvang, ’n responskoers van 42.4%. Al die konstrukte is met Cronbach se alfa as betroubaar gemeet, en die ingesamelde data is ontleed met beskrywende en inferensiële statistiek. Die bevindinge van die kwantitatiewe fase dui daarop dat die dryfkragte agter strategiese innovering ’n beduidende positiewe verhouding het met strategiese innoveringskapasiteit. Hierdie bevinding onderstreep die belangrike rol wat bestuurders speel in ’n maatskappy se vermoë om stelselmatig strategiese innoveringsinisiatiewe te skep. Kultuur het na vore gekom as die dryfkrag met die sterkste verhouding met strategiese innoveringskapasiteit, wat die belangrikheid beklemtoon van die skep van ’n organisatoriese kultuur wat op innovering toegespits is. Die tweede sterkste dryfkrag was Hulpbronne, gevolg deur Mense, en laastens het Strategieprosesse die laagste beduidende positiewe verhouding met strategiese innoveringskapasiteit gehad. Die bevindinge het ook gewys dat die onderlinge verhoudings tussen die dryfkragte beduidend positief was, met Kultuur wat weereens die sterkste korrelasiewaardes toon. Die belangrikste bydrae van hierdie studie is die empiriese evaluering van die dryfkragte agter strategiese innovering en strategiese innoveringskapasiteit in die Suid-Afrikaanse bankwesekonteks. Die vasstelling van hierdie verhouding skep ’n platform waarop toekomstige studies kan bou. Die bevindinge bied aan bestuur ’n manier om dryfkragvlakke te assesseer, asook voorafgaande elemente om op te fokus wanneer bestuursintervensies gebruik word om hierdie vlakke te verbeter.

Thesis (MComm)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: Sustainability is a key requirement for business success and is often regarded a competitive advantage if strategically managed. Sustainability-mature organisations look to their value chains where the retailer-supplier relationship becomes critical in embedding sustainability. With this in mind, it has been established that a large South African retailer, Woolworths, has limited insight into the level of engagement in terms of sustainability with its key food suppliers, and no knowledge of the effectiveness of current tools used in enhancing their supply chain sustainability. This poses a problem, as it hinders the full implementation of Woolworth’s sustainability strategy across their value chain. In response to this, a study was undertaken to establish the level of engagement in terms of sustainability and obtain supplier feedback on the effectiveness of current tools used to enhance Woolworth’s supply chain sustainability. To facilitate this, the United Nations’ Global Compact and the Supply Chain Sustainability Guideline were utilised. Secondary research was conducted by means of a literature review covering the theoretical concepts of corporate social responsibility, sustainability, supply chain sustainability and retailer-supplier collaboration. The qualitative and exploratory nature of the study necessitated a case study research design, while the technique of purposive sampling was used to select the sample of three of Woolworths’ food suppliers. Data was collected by means of semi-structured interviews facilitated by an interview guide, and data analysis was conducted with Atlas.ti software. It was determined that the current engagement around sustainability between Woolworths and their suppliers is still at a basic and broad level, with a strong environmental focus. Additionally, monitoring and support of sustainability initiatives seems to be lacking. Managerial implications emphasise the importance of an integrated sustainability approach driven by the retailer and a strong focus on collaboration and communication with suppliers around ongoing sustainability challenges and opportunities. The United Nations Global Compact Supplier Engagement Continuum was utilised as a framework to map the current level of engagement and was amended for use in the South African context. Future research agendas suggest replica studies in other industries, and that the amended continuum should be tested and further refined for the South African context. In conclusion, specific propositions were formulated to aid future research. / AFRIKAANSE OPSOMMING: Volhoubaarheid is ‘n sleutel vereiste vir besigheidsukses en word dikwels gesien as ‘n mededingende voordeel indien dit strategies bestuur word. Volhoubaar-volwasse organisasies fokus op hul waardekettings waar die kleinhandelaar-verskaffer verhouding krities is vir die implementering van volhoubaarheid. Met bogenoemde in gedagte, is dit bevind dat ‘n groot Suid-Afrikaanse kleinhandelaar, Woolworths, beperkte insig het aangaande die vlak van samewerking in terme van volhoubaarheid met sleutel voedselverskaffers. Verder is daar ook geen kennis oor die effektiwiteit van huidige tegnieke wat gebruik word om volhoubaarheid in hul waardeketting te bevorder nie. Dit skep ‘n probleem aangesien dit die effektiewe implementering van Woolworths se volhoubaarheidstrategie in hul waardeketting verhinder. Dus is ‘n studie onderneem om die vlak van betrokkenheid in terme van volhoubaarheid te bepaal, sowel as om terugvoer vanaf verskaffers in te samel aangaande die effektiwiteit van huidige volhoubaarheidsinisiatiewe. Om dit te fasiliteer was daar van die United Nations Global Compact en die Supply Chain Sustainability Guideline gebruik gemaak. Sekondêre navorsing was uitgevoer deur middel van ‘n literatuur studie wat fokus op die teoretiese konsepte van korporatiewe sosiale verantwoordelikheid, volhoubaarheid, waardeketting-volhoubaarheid, en kleinhandelaar-verskaffer samewerking. Die kwalitatiewe en ondersoekende eienskappe van die studie het gelei tot ‘n gevallestudie navorsingsontwerp, terwyl doelgerigte steekproeftrekking gebruik was om die steekproef van drie van Woolworths se voedselverskaffers te identifiseer. Data insameling het deur middel van semi-gestruktureerde onderhoude plaasgevind en was gefasiliteer deur ‘n onderhoudgids. Die data was verwerk en geanaliseer met behulp van Atlas.ti sagteware. Dit is bevestig dat die huidige samewerking tussen Woolworths en hul verskaffers, aangaande volhoubaarheid, steeds op ‘n basiese en breë vlak is met ‘n sterk omgewingsfokus. Addisioneel wil dit voorkom dat volgehoue monitering en ondersteuning van volhoubaarheidspogings tekort skiet. Bestuursimplikasies beklemtoon die belangrikheid van ‘n geïntegreerde volhoubaarheidsbenadering wat gedryf moet word deur die kleinhandelaar. Terselfde tyd word ‘n sterk fokus op samewerking en kommunikasie met verskaffers aangaande deurlopende volhoubaarheidsgeleenthede en –uitdagings benodig. Die United Nations Global Compact Supplier Engagement Continuum was gebruik as raamwerk om die huidige vlak van samewerking te bepaal en was aangepas vir die Suid-Afrikaanse konteks. Toekomstige navorsingsagendas stel voor dat replika studies in ander industrieë gedoen word, en dat die aangepaste kontinuum getoets en verder verfyn word vir die Suid-Afrikaanse konteks. Ten slotte was spesifieke proposisies geformuleer vir toekomstige navorsing.

Thesis (MBA (Business Management))--University of Stellenbosch, 2007. / ENGLISH ABSTRACT: Risk management is a widely used term meaning different things to people in different economic sectors. To some, it refers to auditing and, to others, it means Occupational Health and Safety (OHS), compliance or any risk management activity dominant in the user’s frame of reference. Risk management probably includes all these associations. Viewing this study field from different angles prevents the visualisation and grasping of the whole. Business schools do not lead the way in overcoming this fragmented study field, as an all-inclusive theory basis and course outline are not yet available. The whole is taken to be the complete answers to a list of very basic questions, namely who must do what, how, when and why, and what then. This introductory study starts with the what question. Risk management activities within a sample of companies from banking to mining and manufacturing were researched. The result is a proposed map of common risk types and sector or industry-unique risks dominant in a specific environment. Three risk management training programmes were evaluated to determine whether or not the basic questions are addressed: the UNISA Advanced Programme in Risk Management, the USB Programme in Risk Management and the Enterprise Risk Management Integrated Framework developed by COSO. These programmes were assessed to determine whether they address the practical risk management questions of who must do what, when and why, and what then. A combination of some of the strong points of the courses is proposed as a starting point for overcoming the theory gap. / AFRIKAANSE OPSOMMING: Risikobestuur is ʼn algemeen gebruikte term wat verskillende dinge vir verskillende gebruikers beteken. Vir party verwys dit na die ouditfunksie, vir ander beteken dit beroepsgesondheid en -veiligheid, wetlike voldoening of enige ander risikobestuursaktiwiteit wat deel van ʼn persoon se verwysingsraamwerk vorm. Risikobestuur sluit waarskynlik al hierdie assosiasies in. Die benadering van die studieveld vanuit verskillende verwysingspunte maak dit egter moeilik om die studieveld as geheel te sien en te begryp. Bestuurskole neem ook nie die leiding om die gefragmenteerde aard van die studieveld te oorkom nie, want ʼn omvattende teoretiese grondslag en raamwerk is nie beskikbaar nie. Die geheel word geag te wees volledige antwoorde op ʼn paar basiese vrae, naamlik wie moet wat, wanneer, hoe en wat daarna doen. Hierdie inleidende studie fokus op die wat vraagstuk. Risikobestuursaktiwiteite in ʼn steekproef van firmas vanuit die bankwese, mynwese en vervaardigingsektor word ondersoek. Die resultaat is ʼn voorgestelde raamwerk van algemene asook omgewingsunieke risikosoorte. Drie risikobestuuropleidingsprogramme, naamlik UNISA se Gevorderde Sertifikaatprogram in Risikobestuur, die USB se Risikobestuursprogram en COSO se Ondernemingswye Risikobestuursprogram, is geëvalueer om te bepaal in watter mate hulle op die praktiese risikobestuursvraagstukke, naamlik wie moet wat, wanneer, hoe en wat daarna moet doen, ingaan. ʼn Kombinasie van die verskillende kursusse se sterkpunte word uiteindelik as beginpunt vir die oorbrugging van die gaping in die teorie voorgehou.

Thesis (MBA (Business Management))--University of Stellenbosch, 2007. / AFRIKAANSE OPSOMMING: Verskeie navorsingsprojekte is oor die jare gedoen ten opsigte van die voorspellingsmoontlikhede van kontantvloei en winste, met teenstrydige resultate. Daar is egter weinig navorsing gedoen oor die verhouding wat tussen winste en kontantvloei bestaan. Hierdie navorsingsverslag beoog om ondersoek in te stel na die verhouding tussen kontantvloei en winste, dus om te poog om te bepaal watter een die drywer is, maar ook om te bepaal of die een veranderlike ingespan kan word om vooruitskattings ten opsigte van die ander te kan doen. Aangesien finansiële tydreekse die meeste van die tyd nie-stasionêr is, moet dit in ag geneem word wanneer die kousale verwantskap tussen die twee veranderlikes bepaal word, asook wanneer regressie-analise met die oog op vooruitskatting gedoen word. Daar word egter vermoed dat die aspek van stasionariteit weinig aandag geniet in menige navorsing wat ten opsigte van finansiële tydreekse gedoen word. Die feit dat weinig tydreekse stasionêr is, is bevestig deur te toets vir die bestaan van eenheidswortels in die veranderlikes. Die beste resultate vir stasionariteit is verkry deur die tweede verskille van die veranderlikes te bereken. Daar kon egter nie met sekerheid vasgestel word of winste kontantvloei dryf of andersom nie. Die gevaar van skyn-korrelasie is ook bewys, aangesien 'n groot aantal pare veranderlikes beduidende korrelasies tussen mekaar aandui, maar wanneer hulle stasionariteit en kousaliteit in ag geneem word, is weinig van die pare veranderlikes kousaal verwant aan mekaar. Die toets vir ko-integrasie is ingespan om steun te verleen by die regressie-analise en vooruitskatting van die tydreekse. Die regressie analise van die geko-integreerde tydreekse het in die meeste gevalle 'n hoë R2 en aangepaste R2 gelewer. Die vooruitskattings was egter teleurstellend onakkuraat. / ENGLISH ABSTRACT: Throughout the years a variety of research projects have been done about the predictive ability of cash flow and earnings, with contradictory results. However, limited research has been done about the relationship between cash flow and earnings. The aim of this research report is to investigate the relationship between cash flow and earnings, thus attempting to determine which one is the driver, but also to investigate the ability of one variable to predict the other. Because financial time series are non-stationary most of the time, this fact has to be taken into account when the causal relationship between the two variables is determined, as well as when regression analysis is done with forecasting in view. It is, however, suspected that the fact of stationarity has been neglected in much of the research that has been done on financial time series. The fact that very few time series are stationary has been established by testing for the existence of unit roots in the variables. The best results for stationarity were obtained by calculating the second differences of the variables. It could not be established beyond doubt whether earnings cause cash flows or vice versa. The danger of spurious correlation has been proved, because a vast number of pairs of variables indicates a significant correlation with one another, but when stationarity and causality are taken into account, only a few pairs of variables are truly significantly correlated to one another. The test for co-integration was used to assist in the regression analysis and forecasting of non-stationary time series. The regression analysis of most of the co-integrated variables resulted in a high R2 and adjusted R2. The forecasted values, however, were disappointingly inaccurate. / cmc2010

Thesis (MBA (Business Management))--University of Stellenbosch, 2007. / ENGLISH ABSTRACT: The main objective of the study is to examine the components required for the successful implementation of Sickness Absence Management. Although there are various approaches to the management of absence the focus of this study is the implementation of policies which is the most frequently used approach. Sickness Absence Management represents the strategy of the organisation to enhance the performance of human capital by ensuring that employees that are not truly sick, are present at work. The importance of Sickness Absence Management is highly recognised, but few employers record and measure absence. Reasons for this include the complexity of the factors that influence absence and the lack of resources to record absence data, and to calculate and interpret absence indicators and costs. Frustrations from the study include the non-standardisation of absence terminology, and the lack of data on absence statistics. Sickness Absence Management is complicated by the behaviour of people. Absence trends indicate that abuse of sickness absence amounts to an average of 33% of sickness absence and that absence rates are higher in the public than in the private sector. Success factors for Sickness Absence Management include clear, consistent and well-communicated policies and effective information systems with the required functionalities to record absence data and to enable the tracking of absence indicators. Top management commitment transpired as the factor with the biggest influence on the success of Sickness Absence Management. Research indicated that it was better to have a policy than to have no policy at all. The quality of the policy depends on the involvement of employees and the consistent application by supervisors/managers. Furthermore, an effective computer-based information system is crucial for the management of absence. The system should have the required functionalities to enable administration and decision-making on absence issues. A strategy is necessary to set objectives and targets, and communicate commitment from top management. A strategy is also required to ensure the allocation of resources to HR for the Sickness Absence Management. / AFRIKAANSE OPSOMMING: Die vernaamste doelwit van hierdie studie is om die komponente te ondersoek wat nodig is vir die suksesvolle implementering van Siekverlofbestuur. Hoewel daar verskeie benaderings tot die bestuur van siekverlof is, is hierdie studie gerig op beleid wat as die voorkeurbenadering vir die bestuur van siekverlof beskou word. Siekverlofbestuur is die strategie van ’n onderneming om die prestasie van mensekapitaal te versterk deur te verseker dat die personeel wat nie werklik siek is nie, teenwoordig is by die werk. Die belangrikheid van Siekverlofbestuur word hoog aangeskryf, maar min werkgewers teken siekverlof aan of meet dit. Redes hiervoor sluit in die kompleksiteit van die faktore wat siekverlof beïnvloed en die gebrek aan hulpbronne vir die aantekening van siekverlofdata, en die berekening en interpretasie van siekverlofaanduiders en -koste. Frustrasies uit die studie sluit in die nie-standaardisering van siekverlof terminologie en die gebrek aan siekverlof statistiek. Siekverlofbestuur word gekompliseer deur die gedrag van mense. Siekverlof tendense toon aan dat die misbruik van siekverlof gemiddeld 33% van siekte-afwesigheid uitmaak en dat siekverlofkoerse hoër in die openbare as in die private sektor is. Suksesfaktore vir Siekverlofbestuur sluit in duidelike en konsekwente beleid wat behoorlik gekommunikeer word, en doeltreffende inligtingstelsels met die nodige funksionaliteit om siekverlofdata vas te lê en siekverlof aanwysers na te volg. Die verbintenis van topbestuur het na vore gekom as die faktor met die grootste invloed op die sukses van Siekverlofbestuur. Navorsing dui daarop dat dit beter is om 'n beleid te hê as hoegenaamd geen beleid nie. Die gehalte van die beleid hang af van die betrokkenheid van werknemers en die konsekwente toepassing daarvan deur toesighouers/bestuurders. Daarby is 'n doeltreffende rekenaar-gebaseerde inligtingstelsel noodsaaklik vir die bestuur van siekverlof. Die stelsel moet ook die nodige funksionaliteite hê vir administrasie en besluitneming oor siekverlof kwessies. 'n Strategie is nodig om doelwitte en teikens te stel, en om toewyding vanaf topbestuur te kommunikeer. 'n Strategie is ook nodig om die toewysing van hulpbronne vir Siekverlofbestuur na Menslike Hulpbronne te verseker. / cmc2010-1

Thesis (MBA (Business Management))--University of Stellenbosch, 2010. / ENGLISH ABSTRACT: The aim of this study was to investigate CRM application in South Africa with specific reference to the FMCG industry in this country. The research started off with a literature review of CRM with reference to its failures and successes as well as the advantages and disadvantages of the system, furthermore the requirements for a successful CRM system were investigated. Interviews were also held with industry experts to gain insights into CRM application in South Africa. The study found that, although the FMCG industry in South Africa is based on the B2B route to market and not on the B2C route to market, CRM still has the potential to add value to the organisation. In addition, the failures of CRM are not industry-specific but common across industries. There are a vast number of reasons for the failure of CRM, ranging from CRM’s exclusion from the company strategy to a lack of change management and a lack of end-user involvement in the implementation of the system and process. Although it would seem that CRM fails more than it succeeds it is not due to the system itself but to human nature and reluctance to change. The research clearly illustrates that CRM fails as a result of human decisions and the disadvantages posed by the system. It is clear that CRM starts with the organisation’s strategy. If CRM complies or fits in with the strategy of the company it will succeed. What’s more, CRM has to be driven from top management down. Lastly, CRM will work for the FMCG industry of South Africa and will add value to any organisation dealing with customers. However, this will only be realised if the organisation follows a customer-centric approach and if CRM is not seen as an IT project but rather as part of the organisational culture. / AFRIKAANSE OPSOMMING: Die doel van hierdie studie is om die toepassing van CRM (kliënteverhoudings-bestuur – customer relationship management) in Suid-Afrika te ondersoek met spesifieke verwysing na die bedryf vir vlot verkoopbare verbruikersgoedere (FMCG – fast-moving consumer goods) in dié land. Die navorsing het met ’n literatuuroorsig van CRM begin met verwysing na die mislukkings, suksesse en die voor- en nadele van die stelsel. Die vereistes vir ’n suksesvolle CRM-stelsel is ook ondersoek. Daarby is onderhoude met kundiges in die bedryf gevoer om insig in die toepassing van CRM in Suid-Afrika te verkry. Die studie het bevind dat hoewel die FMCG-bedryf in Suid-Afrika op die B2B roete na mark en nie op die B2C roete na mark gegrond is nie, het CRM steeds die potensiaal om waarde tot die organisasie toe te voeg. Daarby is die gebreke van CRM nie bedryfspesifiek nie maar kom dit algemeen by alle bedryfsrigtings voor. Die talle redes vir die mislukkig van CRM wissel van die uitsluiting van CRM van die maatskappy se strategie tot by ’n gebrek aan veranderingsbestuur en ’n gebrek aan eindgebruiker-betrokkenheid in die implementering van die stelsel en die proses. Hoewel dit voorkom of CRM meer misluk as wat dit slaag, is dit nie die gevolg van die stelsel self nie maar van die menslike aard en onwilligheid om te verander. Die navorsing toon duidelik aan dat CRM as gevolg van menslike besluite en die nadele van die stelsel misluk. Dit is duidelik dat CRM by die organisasie se strategie begin. Indien CRM aan die maatskappystrategie voldoen of daarby inpas, sal dit slaag. Daarby moet CRM deur topbestuur van bo af gedryf word. Laastens sal CRM vir die FMCG-bedryf in Suid-Afrika werk en waarde tot enige organisasie toevoeg wat met kliënte werk. Dit sal egter net realiseer indien die organisasie ’n kliëntgesentreerde benadering volg en indien CRM nie as ’n IT-projek nie maar as deel van die organisasie se kultuur gesien word.

Thesis (MBA (Business Management))--University of Stellenbosch, 2010. / ENGLISH ABSTRACT: This study was conducted to investigate the contribution of progressive elaboration on the effectiveness of conducting projects. Effectiveness relates to project success in contrast to efficiency which relates to project management success. This study attempts to determine what the contribution of progressive elaboration of project detail is on the success of conducting projects, by examining three different aspects of project management. First, a historical background study was done of project management, highlighting the origin, paradigms and trends within project management. The underlying finding here is that in spite of the fact that it originated from a hard rules based environment, probably with memes delaying it from progress, project management is changing into a theoretically based hard and soft science, offering exciting opportunities. This was followed by a look into current best practice by means of the Project Management Institute’s (PMI’s) Project Management Body of Knowledge Guide (PMBOK Guide). Each of their nine project management knowledge areas was explored to determine the applicability of applying progressive elaboration within that area. Both scope management and risk management presented excellent opportunities for applying progressive elaboration while cost, quality, human resource and procurement management posed to be problematic. The third comparison area shows that a theoretical foundation exists, and that the theory underwrites progressive elaboration. Progressive elaboration has the potential of improving the effectiveness of projects, and of ensuring greater project success. The practical implementation is not well presented in literature and further research in this area is proposed. / AFRIKAANSE OPSOMMING: Die doelwit van hierdie studie is om te bepaal watter invloed of bydrae progressiewe uitbreiding in projekbestuur het op die effektiwiteit van die uitvoering daarvan. Effektiwiteit hou verband met die sukses van 'n projek, in teenstelling met doelmatigheid wat verband hou met die sukses van die projekbestuur proses. Hierdie studie poog om te bepaal wat die bydrae van die progressiewe uitbouing van projek detail op die sukses van projekte is. Die vraag word beantwoord deur na drie verskillende aspekte van projekbestuur te kyk. Eerstens is ' historiese agtergrondstudie gedoen wat poog om die oorsprong, sekere paradigmas en tendense in projekbestuur te ondersoek. Die slotsom hiervan is dat alhoewel projekbestuur sy oorsprong het in harde, reëlsgebaseerde omgewing, met oorgedraagde gebruike wat verandering strem, dit tog besig is om te migreer na 'n teoreties gefundeerde hard en sag gekombineerde wetenskap wat opwindende geleenthede bied. Vervolgens is gekyk na 'n hedendaagse beste praktyk model soos gevind in die “Project Management Institute (PMI)” se “Project Management Body of Knowledge Guide(PMBOK Guide)”. Elk van die nege projekbestuurkennisareas is ondersoek om te bepaal wat die toepaslikheid van implementering van progressiewe uitbreiding in die spesifieke kennisarea is. Beide werkomvang-bestuur en risikobestuur het uitstekende geleenthede gebied vir die toepassing van progressiewe uitbreiding, terwyl koste, kwaliteit, menslike hulpbron en kontrak-bestuur uitdagings voorgehou het. In die laaste van die vergelykings areas is daar getoon dat 'n teoretiese basis vir projekbestuur bestaan en dat die teorie progressiewe uitbouing onderskryf. Progressiewe uitbreiding beloof om die effektiwiteit van die uitvoering van projekte te verbeter en sodoende die kanse op sukses van projekte te verbeter. Praktiese implementering word nie volledig in die literatuur beskryf nie en verdere navorsing in die verband word aanbeveel.