Thesis (MBA)--University of Stellenbosch, 2011. / In the absence of clear accounting guidelines, the closing number of shares reported in the company annual report is not always equivalent to the closing balance of the group shares. The closing balance of the number of shares of 111 companies listed on the Johannesburg Stock Exchange, for the period 2000 to 2009, was analysed and compared to an electronic database, managed and maintained by the Graduate School of Business of the University of Stellenbosch, on which a reconciliation of the closing number of group shares was recorded for the companies selected. In addition, the effect of the incorrect number of shares reported in the annual report was compared to the net asset value and/or tangible net asset value ratio, to the extent that the information was available. For the purposes of this empirical study, the mining, most of the financials, development capital and alternative exchange sectors were excluded.

Thesis (MBA (Business Management))--University of Stellenbosch, 2010. / ENGLISH ABSTRACT: Transnet, the entity responsible for port infrastructure and the operating thereof, are faced with the difficult task of ensuring that the port system in South Africa is always ready to cater to all import and export requirements of the country. A major portion of these volumes will enter and leave the country in the form of containerised cargo, which effectively unitises the cargo for easier handling. What makes the task for Transnet that much more difficult, is that volumes are not easily forecasted and when one takes into account that ports need to be looking at least ten years down the line to ensure infrastructure can be put in place in time, it makes the problem that much more difficult. International studies show that trade between India, Europe and South America are growing, which provides South Africa with the opportunity to become a hub port based on the countries central location between these three areas. Currently Durban and the recently opened port of Ngqura are and will be serving as hub ports to cater for these and other volumes, but it is not certain under what conditions there would be a need for an additional hub port, if at all. Through the course of this research report three scenarios of growth are examined in an effort to answer this question. / AFRIKAANSE OPSOMMING: Transnet, die entiteit verantwoordelik vir hawe-infrastruktuur en die werking daarvan, is met die moeilike taak geplaas om te verseker dat die hawe-stelsel in Suid-Afrika altyd gereed is vir al die invoer en uitvoer vereistes van die land. 'n Groot gedeelte van hierdie vereistes sal die land betree en verlaat in die vorm van houers, wat goedere unitiseer vir makliker hantering. Wat die taak vir Transnet soveel moeiliker maak, is dat die volumes nie maklik geskat kan word nie, en wanneer Transnet ten minste tien jaar in die toekoms moet skat om seker te maak dat die infrastruktuur in plek kan gestel word in tyd, maak dit die probleem soveel moeiliker. Internasionale navorsing dui dat die handel tussen Indië, Europa en Suid-Amerika groei, wat vir Suid-Afrika die geleentheid skep om 'n ‘hub port’ to word wat gebaseer is op die land se sentrale ligging tussen hierdie drie lande. Op die oomblik sal Durban en die onlangs geopende hawe van Ngqura, as ‘hub ports’ funksioneer om voorsiening te maak vir hierdie en ander volumes, maar dit is nie seker onder watter omstandighede sou daar 'n behoefte vir 'n ekstra-hub port wees nie. Deur die loop van hierdie navorsing word verslag gelewer van die drie scenario's, en word hierdie vraag ondersoek in 'n poging om hierdie vraag te beantwoord.

Thesis (MBA (Business Management))--University of Stellenbosch, 2009. / ENGLISH ABSTRACT: It has been established worldwide that energy efficiency undertakings are the fastest, most cost-effective and cleanest way to extend energy supplies. When the energy supply made available through energy efficiency projects are compared with increasing primary supply through building new conventional generation facilities, the former is in most cases also safer, more reliable and a more secure form of investment. Energy service companies (ESCOs) are the recognised implementation vehicles of energy efficiency projects and have been in use internationally for many years for this purpose. Globally, however, ESCOs do not have a good history of being viable business enterprises. The most important barriers identified internationally hindering ESCOs’ growth and sustainability were the potential customers’ lack of awareness, information and understanding regarding energy efficiency projects, the financing of these projects, as well as the support of government on energy efficiency policies and regulations. The urgency of implementing energy efficiency measures in South Africa is critical based on the precarious situation of the national electrical suppliers’ ability to provide electricity unfailingly to all its current and future customers. The South African electrical energy situation should therefore provide tremendous opportunities to the local ESCO industry. The aim of this study was therefore to reiterate the importance of energy efficiency projects and to describe the barriers to growth and sustainability experienced by ESCOs in South Africa against the international backdrop. This was done by way of a survey sent out to all registered ESCOs in South Africa. Based on the responses to the survey, the South African industry is in dire straits and is hindered by various barriers to their growth and sustainability. The study identified eight major barriers in the South African ESCO industry which are similar to those experienced by ESCOs internationally. The uniqueness of the local barriers however, is that the industry operates in a highly regulated environment and that these regulators, being the government and Eskom, are recognised as the main perpetrators responsible for most of these barriers, largely due to a lack of dedicated action. Furthermore, the study shows that it is critical for all role players in the South African energy efficiency industry, and specifically the South African government and Eskom, to recognise these barriers and to assist in solving them to improve the growth opportunities in the ESCO industry. Removal of these barriers will not only improve the electricity situation, but will also have a number of positive effects on the micro and macro-economic levels of South Africa, as well as the environment. Finally, the study makes suggestions about the way forward through a number of actions to be taken to lower or remove the most important of these barriers. / AFRIKAANSE OPSOMMING: Dit is reeds wêreldwyd bevestig dat energie-effektiwiteitsprojekte die vinnigste, kostedoeltreffendste en omgewingsvriendelikste manier is om energiebronne uit te brei. Wanneer die energieverskaffing wat beskikbaar gestel word deur energieeffektiwiteitsprojekte vergelyk word met die vermeerdering van primêre energie deur die bou van nuwe konvensionele opwekkingsfasiliteite, is eersgenoemde in die meeste gevalle ook veiliger en ’n meer betroubare en stabiele beleggingsvorm. Energie-diensmaatskappye (energy service companies (ESCOs)) is die erkende implementeringsmediums vir energie-effektiwiteitsprojekte en word reeds baie jare lank internasionaal vir hierdie doel aangewend. ESCOs het egter wêreldwyd nie ’n goeie rekord as lewensvatbare sake-ondernemings nie. Die vernaamste hindernisse wat ESCOs se groei en welvaart stuit is internasionaal geïdentifiseer as voornemende kliënte se gebrek aan bewustheid, inligting en begrip rakende energie-effektiwiteitsprojekte, die finansiering van sodanige projekte, asook die ondersteuning van die regering ten opsigte van energieeffektiewiteitsbeleide en -regulasies. Daar is groot dringendheid om energie-effektiewe projekte en maatreëls in Suid Afrika te implementeer, gebaseer op die huidige onsekerheid of die nasionale elektrisiteitsverskaffer wel in staat is om ’n betroubare bron van elektrisiteit aan sy huidige en voornemende kliënte te voorsien. Die Suid Afrikaanse elektriese energie situasie behoort daarom heelwat geleenthede te skep vir die plaaslike ESCO-industrie. Die doel van hierdie studie was dus om die belangrikheid van energie-effektiwiteitsprojekte te beklemtoon en om die hindernisse te omskryf wat ESCOs in Suid Afrika se groei en welvaart stuit, gesien vanuit ‘n internasionale perspektief. Dit was gedoen deur ‘n vraelys aan alle geregistreerde ESCOs te stuur. Na aanleiding van die terugvoering op die vraelyste, sukkel hierdie industrie om kop bo water te hou weens verskeie hindernisse wat hulle groei en welvaart stuit. Hierdie studie identifiseer agt belangrike hindernisse in die Suid-Afrikaanse ESCO industrie wat ooreenstem met die wat deur internasionale ESCOs ondervind word. Die uniekheid van die plaaslike hindernisse is egter dat die industrie werksaam is in ‘n streng gereguleerde omgewing en dat die reguleerders, die regering en Eskom, ook uitgewys word as die vernaamste skuldiges wat verantwoordelik is vir meeste van die hindernisse, hoofsaaklik as gevolg van hulle gebrek aan toegewyde uitvoering van take. Die bevindinge van hierdie studie toon verder dat dit krities is vir al die rolspelers in die Suid-Afrikaanse energie-effektiwiteitsindustrie, spesifiek die Suid-Afrikaanse regering en Eskom, om hierdie hindernisse te erken en om saam te werk om hulle te oorkom en sodoende die groeigeleenthede in die ESCO-bedryf te verbeter. Die verwydering van hierdie hindernisse sal nie alleen die elektrisiteitsituasie verbeter nie, maar sal ook ’n aantal positiewe invloede hê op die mikro- en makro-ekonomiese vlak van Suid-Afrika, sowel as die omgewing. Die studie sluit af met voorstelle rakende die uitvoering van verskeie aksies wat die verwydering van die vernaamste hindernisse tot gevolg sal hê, of die hindernisse se impak op die industrie sal verminder.

Thesis (MBA (Business Management))--University of Stellenbosch, 2009. / ENGLISH ABSTRACT: For many organisations who wish to sell their debt, or investors who are looking to invest in an organisation, company credit ratings are an important surrogate measure for the marketability or risk associated with a particular issue. Credit ratings are issued by a limited number of authorised companies – with the predominant being Standard & Poor’s, Moody’s and Fitch – who have the necessary experience, skills and motive to calculate an objective credit rating. In the wake of some high profile bankruptcies, there has been recent conjecture about the accuracy and reliability of current ratings. Issues relating specifically to the lack of competition in the rating market have been identified as possible causes of the poor timeliness of rating updates. Furthermore, the cost of obtaining (or updating) a rating from one of the predominant agencies has also been identified as a contributing factor. The high costs can lead to a conflict of interest where rating agencies are obliged to issue more favourable ratings to ensure continued patronage. Based on these issues, there is sufficient motive to create more cost effective alternatives to predicting corporate credit ratings. It is not the intention of these alternatives to replace the relevancy of existing rating agencies, but rather to make the information more accessible, increase competition, and hold the agencies more accountable for their ratings through better transparency. The alternative method investigated in this report is the use of a backpropagation artificial neural network to predict corporate credit ratings for companies in the manufacturing sector of the United States of America. Past research has shown that backpropagation neural networks are effective machine learning techniques for predicting credit ratings because no prior subjective or expert knowledge, or assumptions on model structure, are required to create a representative model. For the purposes of this study only public information and data is used to develop a cost effective and accessible model. The basis of the research is the assumption that all information (both quantitive and qualitative) that is required to calculate a credit rating for a company, is contained within financial data from income statements, balance sheets and cash flow statements. The premise of the assumption is that any qualitative or subjective assessment about company creditworthiness will ultimately be reflected through financial performance. The results show that a backpropagation neural network, using 10 input variables on a data set of 153 companies, can classify 75% of the ratings accurately. The results also show that including collinear inputs to the model can affect the classification accuracy and prediction variance of the model. It is also shown that latent projection techniques, such as partial least squares, can be used to reduce the dimensionality of the model without making any assumption about data relevancy. The output of these models, however, does not improve the classification accuracy achieved using selected un-correlated inputs. / AFRIKAANSE OPSOMMING: Vir baie organisasies wat skuldbriewe wil verkoop, of beleggers wat in ʼn onderneming wil belê is ʼn maatskappy kredietgradering ’n belangrike plaasvervangende maatstaf vir die bemarkbaarheid van, of die risiko geassosieer met ʼn betrokke uitgifte. Kredietgraderings word deur ʼn beperkte aantal gekeurde maatskappye uitgereik – met die belangrikste synde Standard & Poor’s, Moody’s en Fitch. Hulle het almal die nodige ervaring, kundigheid en rede om objektiewe kredietgraderings te bereken. In die nadraai van ʼn aantal hoë profiel bankrotskappe was daar onlangs gissings oor die akkuraatheid en betroubaarheid van huidige graderings. Kwessies wat spesifiek verband hou met die gebrek aan kompetisie in die graderingsmark is geïdentifiseer as ‘n moontlike oorsaak vir die swak tydigheid van gradering opdatering. Verder word die koste om ‘n gradering (of opdatering van gradering) van een van die dominante agentskappe te bekom ook geïdentifiseer as ʼn verdere bydraende faktor gesien. Die hoë koste kan tot ‘n belange konflik lei as graderingsagentskappe onder druk kom om gunstige graderings uit te reik om sodoende volhoubare klante te behou. As gevolg van hierdie kwessies is daar voldoende motivering om meer koste doeltreffende alternatiewe vir die skatting van korporatiewe kredietgraderings te ondersoek. Dit is nie die doelwit van hierdie alternatiewe om die toepaslikheid van bestaande graderingsagentskappe te vervang nie, maar eerder om die inligting meer toeganklik te maak, mededinging te verhoog en om die agentskappe meer toerekenbaar vir hul graderings te maak deur beter deursigtigheid. Die alternatiewe manier wat in hierdie verslag ondersoek word, is die gebruik van ‘n kunsmatige neurale netwerk om die kredietgraderings van vervaardigingsmaatskappye in die VSA te skat. Vorige navorsing het getoon dat neurale netwerke doeltreffende masjienleer tegnieke is om kredietgraderings te skat omdat geen voorafkennis of gesaghebbende kundigheid, of aannames oor die modelstruktuur nodig is om ‘n verteenwoordigende model te bou. Vir doeleindes van hierdie navorsingsverslag word slegs openbare inligting en data gebruik om ʼn kostedoeltreffende en toeganklike model te bou. Die grondslag van hierdie navorsing is die aanname dat alle inligting (beide kwantitatief en kwalitatief) wat benodig word om ʼn kredietgradering vir ʼn onderneming te bereken, opgesluit is in die finansiële data in die inkomstestate, balansstate en kontantvloei state. Die aanname is dus dat alle kwalitatiewe of subjektiewe assessering oor ‘n maatskappy se kredietwaardigheid uiteindelik in die finansiële prestasie sal reflekteer. Die resultate toon dat ʼn neurale netwerk met 10 toevoer veranderlikes op ‘n datastel van 153 maatskappye 75% van die graderings akkuraat klassifiseer. Die resultate toon ook dat die insluiting van kollineêre toevoere tot die model die klassifikasie akkuraatheid en die variansie van die skatting kan beïnvloed. Daar word verder getoon dat latente projeksietegnieke, soos parsiële kleinste kwadrate, die dimensies van die model kan verminder sonder om enige aannames oor data toepaslikheid te maak. Die afvoer van hierdie modelle verhoog egter nie die klassifikasie akkuraatheid wat behaal is met die gekose ongekorreleerde toevoere nie. 121 pages.

Thesis (MBA (Business Management))--University of Stellenbosch, 2009. / ENGLISH ABSTRACT: The following research report is titled “Crafting and executing an operational strategic plan for a retail product line”. The report presents operational analysis which results in creating operational strategy which is relevant to current trading conditions and which is clearly aligned with both the organisation’s group and corporate strategic goals. The primary focus is therefore not on the development of organisational strategy, but on strategic implications, interpretation and operational execution. The central research question is described as follows: How can the current operational strategic planning process be improved in order to deliver strategic plans which are aligned and clearly support the key strategic thrusts at group and corporate level? A literature study was conducted by consulting a vast number of books, articles and websites in order to gain a comprehensive understanding of the latest management thinking pertaining to the creation and implementation of strategy. Primary research, which took the form of informal interviews with key personnel, was also conducted in order to ascertain the opinions and insights of individuals who are directly affected by the operational strategic process. The research resulted in a one year operational strategic framework which can be used as a tool by all central buying teams when creating operational strategic plans. The framework allows teams to follow a standardised process which results in concise summary populated with key strategic points. Teams are thus guided by these points and are also prompted to corrective action by ensuring that each strategic action has a measurable outcome. The framework is also populated with group and corporate goals, which act as guiding principles to team members. The final recommendation is that teams allow for a degree of flexibility in the operational strategic actions which were identified in their initial analysis. While key strategic points at group and corporate level will most likely remain unchanged during the course of a financial year, certain operational activities may have to be reconsidered should the micro and macro trading environment change. AFRIKAANSE OPSOMMING: Die titel van die volgende navorsingverslag is: “Crafting and executing an operational plan for a retail product line”. Die verslag is ‘n weergawe van ‘n bedryfsontleding wat lei tot die ontwerp van ‘n bedryfs-strategie wat van toepassing is op die huidige handelsmilieu. Die strategie is verder in lyn met beide die organisasie se groep en korparatiewe doelwitte. Die verslag fokus hoofsaaklik op strategiese implikasies, interpretasie en operasionele uitvoering en nie op strategiese ontwikkeling nie. Die sentrale navorsingskwessie word soos volg beskryf: Watter verbeterings kan aangebring word aan die huidige bedryfs-strategiese beplannings proses om sodoende strategiese planne op te lewer wat in lyn sal wees en ondersteuning sal gee aan die sleutel strategiese dryfkrag op groep en korporatiewe vlak. ‘n Aantal sekondêre bronne – boeke,artikels and webwerwe - is nageslaan en ‘n letterkundige studie is gedoen om ‘n omvattende begrip te kry van die nuutste bestuursdenke met betrekking tot die ontwerp en implementering van strategie. Onderhoude is gevoer met sleutel personeel wat gedien het as primere bronne. Sodoende is die opinies en insigte verkry van individue wat direk betrokke is by die bedryfs-strategiese proses. Die ondersoek het as gevolg ‘n bedryfs-strategiese raamwerk. Dit kan as instrument gebruik word deur alle sentrale aanskaffingspanne wanneer hulle bedryfs-strategiese planne ontwerp. Die raamwerk maak voorsiening vir ‘n gestandaardiseerde proses wat kulmineer in ‘n een-bladsy opsomming wat strategiese punte bevat. Die opsomming gee dus rigting aan spanne en hulle word aangespoor tot korrektiewe aksies elk met meetbare uitkomstes. Die raamwerk bevat ook groeps- en korporatiewe doelwitte wat deur spanne as riglyne gebruik kan word. ‘n Finale voorstel is dat spanne voorsiening maak vir ‘n mate van plooibaarheid in die bedryfsstrategiese aksies wat aanvanklik in hul ontledings geidentifiseer was. Sekere strategiese punte sal waarskynlik op groep en korporatiewe vlak onveranderd bly na afloop van die finansiele jaar terwyl sekere bedryfsaktiwiteite heroorweeg sal moet word na gelang van veranderinge in die mikro en makro handelsmileu.

Thesis (MBA (Business Management))-- University of Stellenbosch, 2009. / ENGLISH ABSTRACT: The South African health care industry is fragmented between the private and public sector. The disparity of resources between the private and public sectors as well as the escalating cost of health care services is threatening the sustainability of the private health sector and interferes with the national health policy objectives. Optometry shares the same concerns as the wider South African health industry with regards to accessibility, affordability, quality and equity of services. Deregulation of optometry has been suggested to address these concerns to the benefit of the consumer. But it seems to contradict the proposed higher regulatory environment of the greater private health sector. The objective of the research is to assess whether deregulation is the best way forward for the optometry industry. It also intends to get a more diverse perspective from service providers on the possible effects that deregulation might have on the industry. The study is conducted in three phases. The first two phases involves secondary data and includes an industry analysis and an assessment of the current regulatory framework of the optometry industry. The international deregulation trends in optometry are investigated as well as the deregulation trends of similar industries in South Africa. The third phase of the research includes an online questionnaire and approximately 2000 service providers were invited to participate. The 229 responses was analysed to assess the overall perception of deregulation. The skewed distribution of optometrists between the private and public sectors illustrates the need for more accessible and affordable eye care. Service providers are reluctant to get involved in community service and are not optimistic about the positive effect of deregulation. Professionalism and profitability are feared to be negatively influenced while trends in deregulation suggest that it is beneficial to consumers at least in the short term. Alternative options to deregulation should be investigated. But until the optometry industry increases their contribution to address industry issues, deregulation is the best alternative to improve accessibility, affordability, quality and equity of eye care services. AFRIKAANSE OPSOMMING: Die Suid-Afrikaanse gesondheidsorg industrie is gefragmenteer tussen die private en publieke sektor. Die verskil in verspreiding van hulpbronne tussen die private en publieke sektore sowel as die stygende koste van gesondheidsorgdienste dreig die volhoubaarheid van die private sektor en belemmer die doelwitte van die nasionale gesondheidsbeleid. Oogkunde deel dieselfde bekommernisse as die groter Suid-Afrikaanse gesondheidsorg industrie in terme van toeganglikheid, bekostigbaarheid, kwaliteit en gelykheid van dienste. Deregulasie van oogkunde is voorgestel om die kwessies aan te spreek tot voordeel van die verbruiker. Maar dit lyk teenstrydig te wees met die voorgestelde strenger regulasie van die groter private gesondheid sektor. Die doel van die navorsing is om te bepaal of deregulasie die beste weg vorentoe is vir die oogkunde industrie. Dit beoog ook om ‘n meer diverse perspektief van diensverskaffers te verkry rakende die moontlike effek wat deregulasie op die industrie mag hê. Die studie word gedoen in drie fases. Die eerste twee fases behels sekondêre data en sluit ‘n industrie analise en ‘n assessering van die huidige regulatoriese raamwerk van die industrie in. Die internasionale deregulasie neigings in oogkunde word ondersoek sowel as die deregulasie neiging van soortgelyke industrieë in Suid-Afrika. Die derde fase van die navorsing behels ‘n aanlyn vraelys en ongeveer 2000 diensverskaffers is uitgenooi om deel te neem. Die 229 responsies is geanaliseer om die oorsigtelike persepsie van deregulasie te bepaal. Die skewe verspreiding van oogkundiges tussen die private en publieke sektore illustreer die nodigheid van meer toegangklike en bekostigbare oogsorg. Diensverskaffers is huiwerig om betrokke te raak by gemeenskapsdiens en is nie optimisties oor die positiewe effek van deregulasie nie. Daar word gevrees dat professionalisme en winsgewendheid negatief beïnvloed sal word, terwyl neigings in deregulasie wys dat dit tot voordeel van die verbruikers is, ten minste in die korttermyn. Alternatiewe opsies tot deregulasie moet ondersoek word. Maar totdat die oogkunde industrie hulle bydrae verhoog om die kwessies van die industrie aan te spreek, is deregulasie die beste alternatief om toeganglikheid, bekostigbaarheid, kwaliteit en gelykheid van oogsorgdienste te verbeter.

Thesis (MBA (Business Management))--University of Stellenbosch, 2009. / ENGLISH ABSTRACT: Through the process of innovation, organisations create technological growth. Successful innovation creates customer value through new products and services, and it could give rise to new markets. Successful innovations contribute to better quality, higher productivity, lower costs and increased profits. One of the ultimate goals for implementing innovation is to achieve a competitive advantage that leads to outperforming competitors. Through the understanding of the innovation processes, organisations can bring predictability into their innovation efforts. This comes from understanding and managing the forces that influence the decisions made by managers. Because of globalisation and fierce competition Spescom DataVoice, a South African technology company, is finding it increasingly difficult to compete in an international market. It is against the background of Spescom DataVoice's need to increase its innovation productivity that this research was spawn. The ambitious goal of this study was to investigate what Spescom DataVoice can do to become sustainable, innovative and competitive in its market space. This research firstly captured the important themes and theories around the subject of innovation and how it relates to strategy. The literature study will try to look into all the important work, especially well-known research and its significance. Lastly, the research will apply the knowledge gained by discussing the research questions relating to Spescom DataVoice's particular situation. The research will discuss the innovation capabilities and perspectives that Spescom DataVoice should focus on; the environment that is needed for sustainable continuous innovation; and innovation strategies that Spescom DataVoice could employ to improve its innovation productivity. AFRIKAANSE OPSOMMING: Organisasies skep tegnologiese groei deur die proses van innovasie. Suksesvolle innovasie skep waarde vir kliënte deur nuwe produkte en dienste, wat weer kan aanleiding gee tot nuwe markte. Suksesvolle innovasie dra by tot beter kwaliteit, hoër produktiwiteit, laer koste en die verhoging van winste. Een van die uiteindelike doelwitte met die implementering van innovasie is om 'n kompeterende voordeel te bewerkstellig wat kan lei tot die oortreffing van kompeteerders. Deur die proses van innovasie beter te verstaan, bring organisasies meer stelligheid in hul pogings om te innoveer. Dit word meegebring deur die verstaan en bestuur van die kragte wat bestuurders se besluite beinvloed. As gevolg van globalisering en fel kompetisie vind Spescom DataVoice, 'n Suid-Afrikaanse tegnologie-maatskappy, dit al hoe moeiliker om in 'n internasionale mark mee te ding. Dit is teen hierdie agtergrond van Spescom DataVoice se behoefte, om hul produktiwiteit ten opsigte van innovasie te verhoog, dat hierdie navorsingstuk die lig gesien het. Die ambisieuse doelwit van hierdie studie was om te ondersoek wat Spescom DataVoice kan doen om volhoubaar, innoverend en kompeterend in sy mark mee te ding. Eerstens bekyk hierdie studie na die belangrike temas en teorieë rondom die onderwerp van innovasie en hoe dit verband hou met strategie. Die literatuurstudie poog om na al die belangrike werke in die vakgebied te kyk, veral die navorsingsresultate en bydrae wat dit opgelewer het. Verder sal die kennis wat opgedoen is toegepas word deur navorsingsvrae te bespreek wat gerig is op Spescom DataVoice se spesifieke situasie. Die navorsingstudie sal dan bespreek op watter innovasie vermoëns en perspektiewe Spescom DataVoice behoort te fokus; die omgewing wat nodig is vir volhoubare kontinue innovasie; en watter innovasie strategieë Spescom DataVoice kan aanwend om sy innovasie produktiwiteit te verhoog.

Thesis (MDevF (Business Management))--University of Stellenbosch, 2010. / ENGLISH ABSTRACT: Portfolio diversification in capital markets is an accepted investment strategy. On the other hand corporate diversification has drawn many opponents especially agency theorists who argue that executives must not diversify their firms. Instead, they must pay out the ‘free cash flows’ used to make acquisitions as dividends so that shareholders can diversify on their own. The ‘conglomerate discount’ of diversified firms in stock markets confirmed this argument and compelled many firms to refocus by selling-off non-core units from the 1980s. Through a case study of Zimbabwe Stock Exchange listed Delta Corporation Limited which spun-off its unrelated subsidiaries to focus on its core cold beverages business in 2001, this thesis investigates if by refocusing conglomerates improve shareholders’ returns. Using inflation adjusted share returns and factoring in risk by adopting the Sharpe index, the study results show that Delta underperformed the market and its peers as a diversified conglomerate but outperformed both benchmarks after refocusing. The study also argues that market failures in Zimbabwe, in particularly the foreign exchange and agriculture markets, compelled firms to divert from their core strategies in order to survive hyperinflation. It concludes by affirming the consensus in corporate diversification research that conglomerates are an inefficient structure for growing shareholders’ returns but may indeed be the default corporate strategy in developing economies frequently marred by market imperfections and failures.

Thesis (MDF (Business Management))--University of Stellenbosch, 2009. / ENGLISH ABSTRACT: This paper gives an insight of the uniqueness of the South African Private Equity Industry and the underlying reasons for that. It also highlights the differences between the South African Private Equity Industry and both the African Private Equity Industry as well as the Global Private Equity Industry. It highlights challenges that all three industries are facing, both as a result of the global financial meltdown, the resulting global economic recession, and otherwise. Additionally, the paper highlights challenges and trends that are unique to South Africa. Further, it discusses views of industry experts and academics through proposals aimed at addressing these challenges and the roles of industry stakeholders. The discussions around the trends are mainly to highlight certain characteristics about the industry, globally, in Africa and in South Africa. The evidence provided in this paper, shows that the South African Private Equity Industry, owing mainly to regulatory and legislative causes, has proven to be much more resilient than the Global Private Equity Market; as such, it is still able to operate and do business. This finding is not only applicable to the Private Equity industry, but cuts across the financial services industry as a whole. The evidence provided also shows that the one solution that cuts across most of the challenges that the South African Private Equity industry is facing, is educating the stakeholders about the industry and doing a much better job at marketing the industry to them.

Thesis (MBA (Business Management))--University of Stellenbosch, 2009. / ENGLISH ABSTRACT: The Exxaro Breakthrough Improvement Process has been introduced as a tool whereby breakthrough results could be achieved in areas where poor performance was evident. Furthermore it was also envisioned that such a process be sustainably entrenched in the Exxaro business and therefore also become the way continuous improvement is driven on a day to day basis by all employees at Exxaro. In the implementation of this change methodology, varying degrees of successes was realized and time to results also significantly differed. This thesis thus attempt to explore reasons for this phenomenon. Firstly, the essence of breakthrough methodology and thinking behind this approach is explored. The importance of the individual involved in the change effort and thinking process is proven to be critical to the success and for that matter rate and extend of success. An individual that has been able to achieve self mastery has a marked impact on the change process. The thesis then explores in detail this journey and factors that influence self mastery and growth from, as Stephen Covey (2004) explains, dependence to independence and ultimately interdependence. It requires that a whole person approach is followed and thus body, mind, heart and spirit be addressed and captured. Failure to do this and any change methodology is doomed to fail or at best do not create sustainable results. The thesis then went on to explore how external consultants address change and what steps they deem to be critical. The importance of business process interrelationships are highlighted and explored and it is clear from research that, when change is to be effected, a holistic business approach is required in many cases. It was also found from study and experiences that, even though the breakthrough methodology addresses most of the crucial steps or ingredients of successful turnaround approaches, more emphasis is needed on the change readiness of both the implementation team as well as the community the change is to be affected. The theory of change is explored and particularly the role of culture and leadership in the change process. It again became very evident that the importance of the individual involved in the change effort is critical to the success and for that matter rate and extent of success. Strong leadership in both the implementation team and community is critical. The ability, however, to be flexible or well rounded and to be able to capture the whole bodied person but also, when necessary, to be a strong driver and sometimes be brutally honest and remove barriers or individuals that hamper the process, are important traits which obviously come from growth to interdependence, as was mentioned before. The theory is related to the current breakthrough process and steps and criticality of steps yet again emphasized. Practical implementation case studies of this process on the background of research is then recalled and explored to determine where the process was successful and why, and related to where the results proved to be less impressive and not sustainable. The case studies are of particular interest, as they vary in business size and scope of change required and thus are it possible to also test theory of business process relatedness and impact to on change process. The beehive tool in particular is used to prove many of the findings and is also discussed in brief. Ultimately the thesis endeavours to highlight the importance of certain success factors and proposes additional emphasis to the existing Breakthrough Process. / AFRIKAANSE OPSOMMING: Die “Exxaro Breakthrough Improvement” Proses is bekendgestel in Exxaro as ‘n metode waarmee resultate gegenereer kan word in areas waar swak prestasie aanwesig is. Die oorspronklike intensie was om die proses beide as eenmalige intervensie asook deel te laat vorm van die dag tot dag besigheidsprosesse, om sodoende voortgesette verbetering te bevorder by alle departemente in Exxaro deur sy hele werkskorps. Na aanleiding van verskeie verbeteringsprojekte waar die proses van gebruik gemaak is, was dit egter baie duidelik dat daar baie verskillende resultate bereik word. In die een geval is die uitkomste baie goed en word dit in betreklike kort tye bereik, maar in ander gevalle was die resultate nie na wense nie en het dit redelik lank gevat om te bereik. Die bespreek die redes vir die verskynsel. Eerstens word die sogenaamde “Breakthrough” metologie en denke ondersoek om te verstaan wat dit behels en hoe dit ontketting kan word. Die belangrikheid van die individu in die veranderingsproses en die “Breakthrough” proses word ook ondersoek en is dit duidelik dat dit krities tot die sukses van enige veranderingsproses is. Die individu wat ontwikkel het tot ‘n vlak waar hy homself kan bestuur en interafhanklik van ‘n organisasie kan word, is bewys speel ‘n sleutel rol tot veranderings sukses. Dus word die pad van ontwikkeling van ‘n individu tot interafhanklikheid in detail ondersoek in die verhaling. Volgens Stephan Covey (2004) moet ‘n volkome en onverdeelde persoon aangespreek word in die veranderingsproses en sodoende sal die persoon se liggaam, verstand, hart en gees betrokke wees by die verandering en ondersteuning en dryf gee daaraan. Deur dit te doen, veroorsaak dat ‘n persoon sin kry in wat hy doen en dus gemotiveerd en enrgiek is om ondersteuning te gee in die proses en mense/kultuur rondom hulle. Soos John Dunn eens gesê het – dat geen mens ‘n eiland is nie en dat almal maar met mekaar verbind is en invloed het op mekaar – so sal die persone in ‘n organisasie mekaar positief of negatief beïnvloed en hang dit dus van die manier af wat die persone bemoei, betrek en tot verbintenis geroep word. Die verkeerde of halfhartige bemoeienes met die persone in die veranderingsproses kan dus tot sekere faling lei en groot skade berokken aan jou mense en finansiële kapitaal. Daar word dan ook na eksterne konsultante en hulle metodes en prosesse gekyk om te sien wat hulle as belangrik ag en hoe hulle die dinge aanspreek. Verder word die impak van besigheidsprosesse ondersoek om ook vas te stel interafhanklikhede van die prosese die veranderingsproses affekteer. Dit is vasgestel dat ‘n holistiese besigheidsvisie geneem moet word wanneer ‘n veranderingsproses onderneem word in besigheidsprosesse, aangesien veranderinge in die een slegs volhoubaar is asook die intervlakke en impak daarvan verstaan word en ook aangespreek is. Mees belangrikste egter is gevind dat, alhoewel die Exxaro Breakthrough proses baie van bogenoemde kritiese suksesfaktore aanspreek, daar meer aandag en fokus gegee moet word aan die veranderingsgereedheid van jou implementeringspan en die organisasie waarin so ‘n veranderingsproses geïmplementeer moet word. Daarom word daar ook in diepte na die veranderingsteorie gekyk waarin dit ook duidelik gewys het dat leierskap ‘n deurslaggewende rol speel. Weereens, soos vantevore genoem, is dit belangrik om geronde persone, of eerder leiers, te hê, beide in die implementeringspan asook in die organisasie, om die regte besluite te neem en die vermoë te hê om moeilike versperrings of selfs individue betyds uit die weg te ruim sodat die proses voort kan gaan. Die “Breakthrough” Proses word in detail bespreek en implementeringsgevallestudies word ondersoek om die effektiwiteit van die proses te bepaal en om voorafgenoemde suksesfaktore te beproef en te bewys. Twee spesifieke scenarios is bespreek, een waarin groot sukses behaal was en een waarin daar in betreklike lang tyd nie veel vordering gemaak was nie. Wat die twee gevallestudies uniek maak, is dat die probleem wat geadresseer word, presies dieselfde is, maar dat die organisasies verskil het. Sodoende kan die effek van leierskap, veranderingsgereedheid, kultuur en besigheidsprosesse, goed beproef word. Daar is van die “Beehive” opname gebruik gemaak wat die laasgenoemde faktore toets en aanspreek. Hieruit kon duidelike gevolgtrekkings gemaak word. Ten slotte poog die verhaling om die belangrikheid van sekere suksesfaktore te beklemtoon en dus voorstelle te maak oor hoe die huidige “Exxaro Breakthrough” proses aangepas of verbeter kan word om verhoogde en meer volhoubare resultate te gee.