Thesis (MBA)--Stellenbosch University, 1995. / ENGLISH ABSTRACT: In spite of the significant role of price-earnings ratios on the Johannesburg Stock Exchange. relatively little is known of the behaviour of these ratios over time. The price-earnings ratio is the price of the company's share. divided by the company's earnings per share. In a theoretically stable environment the interpretation of the price-earnings ratio is less problematic than in an everyday unstable. non-perfect market. The problem with a non-perfect market, is that the expectations and assumptions of investors start to play a role. This is difficult to quantify. To analyse price·earnings ratios now become problematic . Based on the formula for price-earnings ratio, one can say that it represents that which the investor is willing to pay, for one rand of the earnings of the company. A high price-earnings ratio is a function of either a big expected growth in earnings for the company, or a very small earnings for the company in that financial year. The purpose of this study is: 1) The accomplishment of a databank which reflects the relative rank of the different companies. 2) To establish the relationship of the rank of a given year with future ranks. The study was conducted on all industrial companies on the Johannesburg Stock Exchange. Price·earnings ratios calculated with share prices at financial year-end, as well as price-earnings ratios calculated with share prices three months after the financial year·end, were used in the study. Companies included in the study were divided into groups which have been listed for 20. 15, 10 and 5 years respectively. Descriptive statistical methods were used to find out more about the data. To establish the extent of the relationships between the different ranks, Spearman's rankorder coefficient was used. Finally a databank was established to show the different relative ranks of the different groups. Descriptive statistics indicated that price-earnings ratios are not disrtibuted normally. The median was therefore used in all the groups as representative of the data. The median showed a definite upward trend over time. The medians of the price-earnings ratios calculated on the share prices three months after financial year-end, closely follow the medians of the price-earning ratios calculated on share prices at financial year-end. This indicates that either investors do not take the earnings of the companies into account, or that investors' expectations of earnings are correct. It is, however, doubtful whether investors have sufficient information at financial year-end. Spearman's rankorder coefficient showed a definite positive and significant trend. especially if the time-span of the tests are taken into account. Companies which were therefore ranked high, wilt most probably be high again the following year, if the time-span does not exceed five years. The databank which was established to show the relative ranks of the different companies, showed that the so-called top companies do not necessarily fall into the top positions. / AFRIKAANSE OPSOMMING: Alhoewel prys-verdienste-verhoudings 'n belangrike rol op die Johannesburgse Effektebeurs speel, is relatief min inligting beskikbaar oor die werking daarvan oor die lang termyn. Die prys-verdienste-verhouding is die prys van die maatskappy se aandeel, gedeel deur die verdienste per aandeel. Die interpretasie van prys-verdienste-verhoudings is minder problematies in 'n teoreties stabiele omgewing as in 'n oorwegend onseker, nie-perfekte marksituasie. Die probleem in laasgenoemde tipe mark is dat beleggersverwagtings en -aannames toenemend 'n rol begin speel. Aangesien verwagtings en aannames moeilik is om te kwantifiseer, bemoeilik dit ook die interpretasie van prys-verdienste-verhoudings. Volgens die formule verteenwoordig prys-verdienste-verhoudings dit wat beleggers bereid is om te betaal, vir een rand verdienste van die maatskappy. 'n Groot prys-verdienste-verhouding is 'n funksie van groot verwagte verdienstegroei van die maatskappy, of 'n baie klein verdienste per aandeel vir die maatskappy in daardie betrokke finansiele jaar. Die doel van die studie is: 1) Die daarstelling van 'n databank van prys-verdienste-verhoudings wat die relatiewe rangorde van die verskillende maatskappye reflekteer. 2) Vasstelling van die verband tussen rangordes van 'n bepaalde jaar en toekomstige rangordes . Die studie is gedoen op alle industriële maatskappye op die Johannesburgse Effektebeurs. Prys-verdienste-verhoudings bereken volgens aandeelpryse op finansiële jaareinde, asook die bereken op aandeelpryse drie maande na afloop van die finansiële jaareinde van die betrokke maatskappy , is by hierdie studie ingesluit. Maatskappye is in vier groepe verdeel naamlik maatskappye wat onderskeidelik al 20, 15, 10 en 5 jaar genoteer is. Ter toeligting van hierdie data in die verskillende groepe, is beskrywende statistiese metodes gebruik en geinterpreteer. Spearman se rangorde korrelasiekoëffisient is gebruik om die omvang van die verband tussen rangordes vas te stel. 'n Databank is laastens opgestel vir die verskillende groepe wat relatiewe rangorde aantoon. Volgens die beskrywende statistiese metodes is die prys-verdienste-verhoudings nie normaal verdeel nie. Die mediaan is dus in alle groepe as verteenwoordigend van die data gebruik, in plaas van die gemiddelde. Die mediaan het in alle groepe 'n skerp stygende tendens oor tyd getoon. Mediane van prys-verdienste-verhoudings bereken op aandeelpryse drie maande na die finansiële jaareinde, het 'n sterk ooreenkoms getoon met mediane van prys-verdienste-verhoudings bereken op finansiële jaareind aandeelpryse. Dit kan 'n gevolg wees van of die feit dat beleggers hulle nie veel steur aan die verdienstes van maatskappye nie, of dat beleggers se verwagtings van die maatskappye se verdienstes korrek was. Dit is egter te betwyfel of beleggers op finansiële jaareinde oor genoegsame intigting beskik. Spearman se rangorde korrelasiekoëffisient toon 'n definitiewe positiewe en beduidende tendens, veral as die tydsduur van die toetse wat gedoen is in ag geneem word. Maatskappye met 'n hoë rangorde sal daarom waarskynlik ook die daaropvolgende jare 'n hoë rangorde hê, veral as die tydperk nie langer as vyf jaar is nie. Volgens die databank wat saamgestel is om die relatiewe rangordes van die verskillende maatskappye se prys-verdienste-verhoudings aan te toon. hey, sogenaamde top maatskappye nie hoog in die hiërargie van top maatskappye gefigureer nie.

Thesis (MBA)--Stellenbosch University, 1979. / INTRODUCTION: Inflation gives rise to higher monetary values for a constant quantity of inventory, thereby inflating corporate profits and the taxes on these reported profits.

Thesis (MBA)--Stellenbosch University, 1992. / ENGLISH ABSTRACT: Development in the world and particularly in South Africa has resulted in change. This presents new opportunities and challenges to today's managers and entrepreneurs. As a result of our local political reform process, together with the collapse of the Soviet Union and the general deterioration of communistic ideologies, south Africans are experiencing a growing acceptance back into the world and neighbouring African communities. south African businessmen are faced with opportunities in foreign countries, especially neighbouring African countries, with South Africa cited as the key to Africa. The problem South African managers face, is how to evaluate opportunities in a neighbouring African country and to ascertain the type of trading conditions in that country. After eighteen years of communistic rule and ten years of civil war Mozambique is amongst the poorest countries in the world. World aid programs have come to the country's assistance, introducing economic recovery programs as well as replacing the out-dated socialistic ideas with western style free market principles. Although the country is suffering the effects of an ongoing civil war, indications are that a peace settlement is imminent. The Mozambique government has .introduced an attractive foreign investment package which is aimed at attracting foreign capital. A first impression indicates that this country is ready for foreign investment and exploitation, but is it? This research proj ect firstly evaluates existing feasibility models in an attempt to find a suitable model to assess the feasibility of investing in a clay brickworks located in Mozambique. Failing to find such a feasibility model, a suitable model is then presented. The feasibility model presented takes a holistic approach, acknowledging that first world structures, such as a financial or transportational infrastructure, should not be assumed to exist. The model is divided into two parts, the first evaluating the macro parameters of the country and the second evaluating the micro parameters or specifics of the opportunity. The assessment of macro parameters is divided into five sections, namely, socio- cultural, political, economic, technological and physical parameters. After the completion of each section parameters are summarised and graded. At the end of the macro parameters, an interim evaluation is required to assess whether the country is favourable for investment. If the investor believes the country is ready for investment, the following section covering the micro parameters is investigated. If, however, the investor believes that the country is not suitable for investment then further analysis is suspended. The second section which covers the micro parameters is also divided into five sections, namely, financial, manufacturing, proposed infrastructure, marketing and personnel parameters. These parameters cover the project specifically and are similar to those of a normal business plan. Following this analysis, a final evaluation is done culminating in a decision on whether the project is feasible or not . In applying this model to evaluate the feasibility of establishing a clay brickworks in Mozambique, the researchers concluded at the interim evaluation that it was premature to invest in a clay brickworks in Mozambique . This type of investment might only become attractive after a peace settlement were reached between the government and the resistance movement and with the restoration of the country's infrastructure. / AFRIKAANSE OPSOMMING: Ontwikkeling wereldwyd, en veral in Suid-Afrika, het verandering meegebring. Dit stel nuwe geleenthede en uitdagings aan vandag se bestuurders en entrepreneurs. Na aanleiding van veranderinge in die politieke bestel in Suid-Afrika, die verbrokkeling van die Sowjet-Unie en die verlies van geloofwaardigheid van die kommunistiese ideologie, beleef Suid-Afrika toenemende aanvaarbaarheid in die wereld asook met sy naburige Afrika lande. Nuwe geleenthede buitelands en veral in die naburige Afrika lande, word nou aan besigheidslui in Suid-Afrika gebied, derhalwe word Suid- Afrika gesien as die sleutel tot Afrika. Die probleem wat Suid-Afrikaanse bestuurders tans in die gesig staar, is die evaluasie van lewensvatbare geleenthede in 'n naburige Afrika land en om die handelstoestande te bepaal waaronder hulle sal moet funksioneer. Na agtien jaar van kommunistiese heerskappy en tien jaar van burgeroorloe is Mosambiek een van die armste lande ter wereld. Buitelandse noodlenigingsprogramme het tot die land se redding gekom met die daarstel van ekonomiese herstel programme sowel as die vervanging van sosialistiese idees met 'n Westerse vryemarkstelsel. Alhoewel Mosambiek nog swaar gebuk gaan onder burgeroorloe, is daar wel aanduidings dat 'n vredesooreenkoms onafwendbaar is. Die Mosambiekse regering bied tans aantreklike beleggingspakkette aan wat hoofsaaklik gerig is op die buitelandse belegger. Die eerste indrukke wat gelaat word, is dat Mosambiek gereed is vir buitelandse belegging en ontginning. Die vraag is, is dit wel so? Hierdie navorsingsprojek evalueer eerstens bestaande uitvoerbaarheidsmodelle ten einde 'n toepaslike model te vind om die uitvoerbaarheid te bepaal van investering in 'n kleibaksteenfabriek in Mosambiek. Die uitvoerbaarheidsmodel wat hier voorgestel word, neem 'n holistiese benadering aan, met die erkenning dat elemente soos die finansiele- en vervoer-infrastruktuur nie noodwendig tans bestaan nie. Die model is verdeel in twee dele waarvan die eerste die makro- parameters van die land evalueer, en die tweede die mikra-parameters, of spesifieke besonderhede aangaande die geleentheid. Die evaluering van makro- parameters word opgedeel in vyf afdelings, naamlik, die sosio-kulturele, politiese, ekonomiese, tegnologiese en fisiese parameters. Na voltooiing van elke afdeling word 'n kort opsomming en gradering gedoen. Aan die einde van die deel wat handel oor makro-parameters, is daar 'n tussentydse evaluasie gedoen om te bepaal of die land gunstig is vir beleggings. As die belegger glo dat die land gereed is vir belegging, word die volgende afdeling, naamlik mikro-parameters, ondersoek. Indien die belegger egter van mening is dat die land nie geskik is vir beleggings nie, word die ontleding na die eerste gedeelte gestaak. Die tweede afdeling, wat na mikro-parameters verwys, word ook in vyf sub- afdelings opgedeel, naamlik, finansieel, vervaardiging, voorgestelde infrastruktuur, bemarking en personeel parameters. Hierdie parameters is soortgelyk aan 'n gewone besigheidsplan en is omvattend en spesifiek. Hierdie ontleding word gevolg deur 'n finale evaluasie wat uitloop op 'n besluit of die projek uitvoerbaar is of nie. Deur middel van die toepassing van hierdie model om die lewensvatbaarheid van die vestiging van 'n kleibaksteenfabriek in Mosambiek te evalueer, het die navorsers in die tussentydse ontleding getoon dat so 'n belegging nie op hierdie stadium lewensvatbaar sal wees nie. 'n Belegging sal moontlik aantreklik wees nadat daar ' n vredesooreenkoms bereik word tussen die regering en die weerstandsbeweging, en met die herstel van die land se infrastruktuur.

Thesis (MBA)-- Stellenbosch University, 2004. / ENGLISH ABSTRACT: The 1990s witnessed a substantial increase in privatization of SOEs in African countries. In some countries, like Zambia, privatization was greatly motivated by IFIs, through SAPs. However, for other countries like South Africa, the drive came from the desire to improve efficiency in the delivery of services and enhance economic growth. This study seeks to assess privatisation processes in Africa, with special reference to South Africa and Zambia. The motives for privatisation are discussed, as well as the role played by IFI in African privatisation programs. Privatisation in Zambia is regarded by many, including the World Bank as a success story. The government of Zambia, through the ZPA, has shown commitment towards privatisation and embarked on a rigorous privatisation programme which saw the transfer of 85 percent of the Zambia's economy to the private sector. In South Africa, privatisation's pace is slower than expected a nd there has been a shift of focus from pure privatisation to investment into efficiency of the state enterprises. There is no consensus from various stakeholders. The business criticises the government for the slow paced privatisation process, while organised labour, for fear of job losses, is putting resistance to the process. This study concludes by mapping a way forward for African countries. African countries should continue cautiously with the privatisation process. Proper regulatory framework should be established and issues like poverty reduction and long tern development should be addressed as well when drawing privatisation policies. / AFRIKAANSE OPSOMMING: Die 1990's getuig van 'n beduidende toename in die privatisering van ondernemings in staatsbesit (State-owned Enterprises - SOEs) in Afrikalande. In sommige lande, soos Zambië, is privatisering grootliks deur Internasionale Finansiële Instellings (IFI's) via Gestruktureerde Aanpassingsprogramme (Structural Adjustment Programmes - SAPs) gemotiveer. Die dryfkrag in ander lande, soos Suid-Afrika, spruit egter uit die begeerte om doeltreffendheid in dienslewering te verbeter en om ekonomiese groei te versterk. Hierdie ondersoek kyk na die assessering van privatiseringsprosesse in Afrika, met spesiale verwysing na Suid-Afrika en Zambië. Die beweegredes vir privatisering word bespreek, sowel as die rol wat IFI's in privatiseringsprogramme in Afrika speel. Baie mense en organisasies, insluitend die Wêreldbank, beskou die privatisering in Zambië as 'n suksesverhaal. Die regering van Zambië, via die ZPA, het hom tot privatisering verbind, en het 'n streng privatiseringsprogram aangepak waarvolgens 85 persent van Zambië se ekonomie na die private sektor oorgedra is. Die tempo van privatisering in Suid-Afrika is stadiger as wat verwag is, en daar is 'n klemverskuiwing van suiwer privatisering na 'n belegging in die doeltreffendheid van staatsondernemings. Daar is geen eenstemmigheid tussen die verskillende belangegroepe nie. Sakeondernemings kritiseer die regering vir die stadige privatiseringsproses terwyl georganiseerde arbeid, uit vrees vir verlore poste, die proses teenstaan. Hierdie studie sluit af deur 'n pad vorentoe vir Afrika-lande uit te stippel. Afrika-lande moet versigtig voortgaan met die privatiseringsproses. Behoorlike regulatoriese raamwerke moet gevestig word, en aangeleenthede soos armoedeverligting en langtermynontwikkeling moet aandag geniet wanneer beleid oor privatisering opgestel word.

Thesis (MBA)--Stellenbosch University, 2004. / ENGLISH ABSTRACT: As the world's economic landscape undergoes a fundamental shift from industrial economy in which plant and equipment are the core assets, to the 'new' economy which places a high premium on people and intangible assets traditional accounting systems are becoming less effective. Intellectual Capital has become the indispensable component of corporate value. The significant rise in the market-to-book ratio of listed companies is testimonial of this fact. By focusing on physical and cash assets, and remaining oblivious to Intellectual Capital, conventional accounting methods are missing a very crucial point. The exclusion of Intellectual Capital from financial performance reports results in information deficiency for both internal and external stakeholders of organizations. Measurement and reporting of Intellectual Capital has thus become imperative. However, it is the Human Capital component (of Intellectual Capital) that should be the prime concern of business leaders and other stakeholders. People are the true agents in business; all the other assets, whether tangible or intangible, are the result of human actions and ultimately depend on people for their continued existence. Measurement and reporting of Human Capital is therefore of the essence. Measurement of Human Capital is not simple and straightforward. Development of methodologies for valuation of Human Capital is a daunting challenge. In spite of its difficulty, measurement of Human Capital has to be vigorously pursued; the stakes are just too high for the challenge to be shunned. This study proposes a system for valuation of Human Capital. "Valuation" may conjure expectations of financial measurement; however, despite concerted efforts by the accounting profession, currency-based valuation of people has received very little, if any, appreciation in industry. The model put forward here, is a non-monetary Human Capital Index. / AFRIKAANSE OPSOMMING: Met die fundamentele verskuiwing van die ekonomiese landskap van die wêreld, vanaf 'n industriële ekonomie met produksie-aanlegte en toerusting as primêre bates, tot die nuwe ekonomie wat 'n hoë premie op mense en ontasbare bates plaas, het konvensionele rekeningkundige stelsels toenemend ondoeltreffend geraak. Intellektuele kapitaal het 'n onontbeerlike onderdeel van korporatiewe waarde geword. Die betekenisvolle premie wat die markwaarde bo die batewaarde van genoteerde maatskappye geniet, lewer bewys van hierdie tendens. Deur te fokus op fisiese en monetêre bates, en nie intellektuele bates in ag te neem nie , verontagsaam konvensionele rekeningkundige stelsels 'n kern beginsel. Die uitsluiting van intellektuele kapitaal as deel van prestasie verslagdoening lei tot 'n gebrekkige inligtingsbasis vir beide interne en eksterne belangegroepe van die organisasie. Meting van, en verslagdoening oor intellektuele kapitaal, het dus 'n noodsaaklikheid geword. Dit is egter die menslike hulpbron komponent van intellektuele kapitaal wat die primêre oorweging by sakeleiers en ander belanghebbendes behoort te wees. Mense is die werklike rolspelers in organisasies. AI die ander bates, tasbaar of ontasbaar, is die gevolg van menslike aktiwiteit, en hang uiteindelik van mense af vir hul voortgesette bestaan. Daarom is dit van die uiterste belang dat daar 'n proses is wat menslike bates evalueer en verslag doen. Die meting van menslike kapitaal is nie eenvoudig en voor die hand liggend nie. Die ontwikkeling van metodes om menslike kapitaal te assesseer is 'n besondere uitdaging. Ten spyte van die probleme moet die assessering van menslike kapitaal daadwerklik nagestreef word; hierdie saak is te belangrik om te ontwyk. Hierdie studie stel 'n model voor om waardebepaling van menslike kapitaal te doen. So 'n waardebepaling mag verwagtinge van 'n finansiële metingsbasis skep; tog, ten spyte van doelgerigte pogings deur die rekeningkundige professie, het 'n monetêre waardebepaling van mense weinig, indien enige, aanvaarding in die sakewêreld ontvang. Die model wat hier voorgestel word, is 'n nie-monetêre menslike kapitaal indeks.

Thesis (MBA)- Stellenbosch University, 2004. / ENGLISH ABSTRACT: The main object of this study project is clause 14 of the circular 1/2000 "Minimum Requirements for the Internal Audit Function of Banks" of the German Federal Financial Supervisory Authority. It requires that banks have a risk management system, a risk-based audit planning and a risk-based audit procedure. These have initiated the transformation process of the internal audit functions from the traditional audit approach, which is past and present orientated, to the risk-based audit approach, which is future oriented. During audit planning the audit objects are chosen due to their inherent-risk instead of choosing them due to indications of pastrelated information or estimations. To determine the inherent-risk the audit object's risk factors have to be determined and assessed. The aim of the study is to set up a model, which allows the standardized categorization of findings according to the Minimum Requirements for the Internal Audit Function of Banks 1/2000, which requires a categorization of findings into at least three categories: shortcoming, serious shortcoming, and particular grave deficiency. The Minimum Requirements doesn't impose a restriction to the method of categorization. The survey "Categorization of Findings" revealed that all banks are categorizing the findings, but that only a few banks are using an objective method to do so. To ensure a coherent, transparent and objective classification of the findings the classification process has to be standardized. For a standardized classification process the extent of the findings have to be comparable and quantitative. Therefore, techniques and methods have to be applied, which quantifies the extent of the findings making them comparable. In order to find the right method to assess the extent of the finding one has to look at the components of a finding. A finding consists of risk, which is expressed by the occurrence probability and the extent of damage. The occurrence probability and the extent of damage are described by various risk factors, which are quantitative and qualitative. These risk factors have to be objectively evaluated and aggregated to determine the risk and thus, the extent of the finding. The main problems of this assessment are the quantification of the qualitative risk factors and the aggregation of all risk factors. For the quantification of qualitative risk factors the methods three dimensional analysis and the Delphi-Method are most appropriate. These two methods can be used for the evaluation of a quantitative risk factor as well. Furthermore, the methods sensitivity analysis, Monte Carlo simulation, and statistical methods can assist the assessment of qualitative risk factors, but these methods alone are not appropriate for the assessment of qualitative risk factors. When aggregating the assessments of the risk factors a combination of successive comparison and Scoring Model are suitable. The classification of findings for the annual audit report can be conducted by use of the ABC-Analysis. Prior to this, the scored findings have to be weighted according to the importance of the audit object for the company. All findings in class A represent serious shortcomings and particular grave defiCiencies, class B represents shortcomings, and class C negligible shortcomings. The classification process can be assisted by the use of the risk map and the risk portfolio, but the sole use of these methods would not lead to a proper classification. / AFRIKAANSE OPSOMMING: Die hoof doelwit van hierdie studieprojek is klousule 14 van die Sirkuler 1/2000 "Minimum vereistes vir die Interne Oudit funksie van banke" van die Duitse Federale Finansiele Toesighoudende gesag. Dit vereis dat banke 'n risikobestuur sisteem, 'n risiko baseerde oudit plan en risiko baseerde oudit prosedures daar stel. Hierdie verseistes het die transformasie van die interne oudit funksies inisieer, vanaf die tradisionele benadering wat op die verlede en die huidige gefokus het, tot 'n risiko gebaseerde benadering wat op die toekoms gerig is. Gedurende die oudit beplanning word die oudit onderwerpe gekies vanwee hul inherente risikos eerder as vanwee die indikasies van verlede-gebaseerde informasie of estimasies. Om die inherente risikos te bepaal, is dit nodig om die oudit onderwerp se risiko faktore te bepaal en te bereken. Die doeI van die studie is die daarstelling van 'n model vir die gestandardiseerde kategorisering van bevindinge na aanleiding van die "Minimum vereistes vir die Interne Oudit funksie van banke" in ten minste drie kategorie: leemtes, ernstige tekortkominge en spesifieke growwe tekorte. Die Minimum Vereistes beperk nie die metode van kategorisering nie. Die opname "Catagorising of Findings" toon dat al die banke wel hul bevindings kategorieseer maar dat slegs 'n paar banke 'n objektiewe metode hierin toe pas. Om verstaanbare, deursigtige en objektiewe klassifikasie van bevindinge te verseker is dit nodig dat die proses van klassifikasie gestandardiseer word. Vir 'n gestandardiseerde klassifikasie proses moet die resultate van bevindinge vergelykbaar en kwantitatief wees. Hiervoor moet tegnieke en metodes toegepas word wat die resultate van bevindinge kwantifiseer en so vergelykbaar maak. Om die regte metode te vind vir die analisering van die resultate van 'n bevinding, moet daar na die komponente van die bevinding gekyk word. 'n Bevinding bestaan uit risiko wat uitgedruk word as die gebeurlikheidswaarskynlikheid en omvang van skade. Die gebeurlikheidswaarskynlikheid en omvang van skade word beskryf deur 'n verskeidenheid van risiko faktore wat beide kwalitatief en kwantitatief van aard is. Hierdie risiko faktore moet objektief evalueer en saamgevat word om die risiko en so die omvang van die bevinding te bepaal. Die grootste probleem met die analise is die kwantifisering van die kwalitatiewe risiko faktore en die samevatting van al die risiko faktore . Vir die kwatifisering van die kwalitatiewe risiko faktore, is die Drie Dimensionele Analise en die Delphi metodes die mees toepaslikes. Hulle kan ook gebruik word vir die evaluasie van 'n kwantitatiewe risiko faktor. Verder kan die metodes van sensitiwiteitsontleding, Monte Carlo simulasie en ander statistiese metodes ook help met die berekening van kwantitatiewe risiko faktore. Hulle is egter nie toepaslik vir die berekening van kwalitatiewe risiko faktore nie. Met die aggregasie van die analiese van risiko faktore, is die kombinasie van Opeenvolgende Vergelyking en Punte Toekenning modelle ook toepaslik. Die klassifisering van bevindinge vir die jaarlikse oudit verslag kan gedoen word deur die gebruik van ABC-analise. Voorheen moes daar aan die bevindinge gewigte toegeken word in ooreenstemming met die belangrikheid van die oudit onderwerp vir die maatskappy. Alle resultate in klas A verteenwoordig ernstige tekortkominge en besonder gewigtig gebrekkig , klas B verteenwoordig tekortkominge en klas C geringe tekortkominge. Die klasifikasie proses kan bygestaan word deur die gebruik van 'n risiko kaart en risiko portefeulje. Die alleen gebruik van die metodes sal egter nie 'n ordentlike klassifikasie verseker nie.

Stellenbosch University. Faculty of Economic and Management Sciences. Graduate School of Business / Thesis (MBA)--Stellenbosch University, 2006. / ENGLISH ABSTRACT: This mini-study project is a review of South African and International practices for the procurement and remuneration of consulting engineering services. The manner in which engineering services have been procured from professionals in the built environment over the last decade in South Africa has varied considerably within the public sector. Historically government and professional associations published time based and percentage fee based scales. In 1997 the government published a Green Paper on Procurement Reform. This paper called for the uniformity of procurement policies throughout all industries. In 2000, a statutory body, the Construction Industry Development Board (CIDB) was established. The CIDB has developed procurement regulations based on the government guidelines for the construction industry. Compliance with these regulations became mandatory as of 14 November 2005 for organs of state who solicit tender offers such as national, provincial and local government institutes. Within the private sector, services have been procured on an ever increasing basis based on a negotiated fee with an agreed scope of works and involvement. The importance of this study is that no single procurement system has been proven worldwide to be optimal. The CIDB have set the rules and now it is up to the construction industry to develop a framework of practice that is sustainable and competitive. The study is a systematic investigation to establish the facts about the new government procurement policies and regulations for the South African construction industry. The guidelines and proposals of associations such as the South African Association of Consulting Engineers SAACE), the International Federation of Consulting Engineers (FIDIC) and The World Bank are reviewed. Personal interviews are conducted with South African consulting engineers to investigate opinions on the latest reforms and practices. Procurement and remuneration practices in various other developed and developing countries are also reviewed. From the review it was found that the pertinent measures for the procurement and remuneration of consultants were project categorisation, consultant selection criteria., procurement processes, procurement procedures, cost based procurement approaches, the use of professional fee scales and the cost weighting of consultant remuneration. Trends that emerged from the study were the move in international practices away from the use of professional fee scales. Although the Quality Cost Based Selection (QCBS) approach is still used widely internationally, there is an increase in emphasis and move towards a Quality Based Selection (QBS) approach. Internationally there has been a trend to simplify the process and criteria for the selection of consultants. An important debate identified was whether the use of professional fee scales in South Africa should be eliminated and the determination of professional fees be left to market forces. The review found that although the CIDB had done immense work in the formulation of the new regulations to meet government reform policies, there were certain short comings that needed to be addressed. These included implementation, education of public officials in consultant evaluation, dealing with the tremendous shortage of public officials to do consultant evaluation and the simplification of processes. The study produces a comprehensive comparative table of institutional and practitioners inputs with respect to the identified consultant procurement and remuneration measures. The significance of this table is that it can be used to formulate or adjust existing frameworks. It is proposed that such revised frameworks be monitored and studied to optimise the objective of sustainability and competitiveness in the procurement and remuneration of consulting services in South Africa. / AFRIKAANSE OPSOMMING: Hierdie mini navorsingsprojek bied 'n oorsig van die Suid-Afrikaanse en lntemasionale praktyke vir die werwing en vergoeding van raadgewende ingenieurs. Die manier waarop ingenieursdienste gewerf word van professionele persone in die konstruksiebedryf oor die laaste dekade in Suid-Afrika het aansienlik verskil binne die openbare sektor. In die verlede het die staatsdiens en professionele instansies tydgebasseerde en persentasievergoedingskale gepubliseer. In 1997 het die Regering 'n "Groenpapier" oor werwing en hervorming gepubliseer. In hierdie dokument word 'n oproep tot uniformiteit van werwingsbeleid deur alle deelnemers gedoen. In 2000 is 'n statutere liggaam, die "Construction Industry Development Board (CIDB)", gestig. Die CIDB het werwingsregulasies ontwikkel wat gebasseer is op die regering se riglyne vir die konstruksiebedryf. Hierdie regulasies het sedert 14 November 2005 vir tenders aan staatsliggame soos nasionale, provinsiale en plaaslike regerings verpligtend geword. Binne die privaatsektor word dienste op 'n toenemende basis op 'n onderhandelde basis vergoed. Daar is gevind dat daar geen enkel werwingsisteem wereldwyd is wat as optimaal bewys is nie. Die CIDB het die reels neergele en dit is nou die verantwoordelikheid van die konstruksiebedryf am 'n praktykgerigte raamwerk te ontwikkel wat beide volhoubaar en kompeterend is. Die navorsing is 'n stelselmatige ondersoek om vas te stel wat die regering se werwingsbeleid en regulasies vir die Suid-Afrikaanse konstruksiebedryf is. Die riglyne en voorstellings van instansies soos die van die Suid-Afrikaanse Assosiasie vir Raadgewende Ingenieurs (SAACE), die "International Federation of Consulting Engineers (FIDIC)" en Die Wereldbank is ondersoek en vergelyk. Persoonlike onderhoude is gevoer met Suid-Afrikaanse raadgewende ingenieurs om 'n ondersoek na opinies te doen oor die onlangse hervorming van praktyke. Werwings- en vergoedingspraktyke in verskeie ander lande is ook ondersoek. Hierdie ondersoek het uitgewys dat die pertinente metings vir die werwing en vergoeding van raadgewende ingenieurs projek kategorie, wenvingsprosesse, werwingsprosedures, koste gebaseerde benaderings, die gebruik van professionele vergoedingskale en die koste van vergoeding, is. Tendense wat na vore kom vanuit die navorsing, is die intemasionale praktyk om weg te beweeg van professionele vergoedingskale. Alhoewel die Kwaliteit Koste Gebasseerde Seleksie benadering nog steeds wyd gebruik word intemasionaal, is daar 'n toename in die beklemtoning en beweging na die Kwaliteit Gebasseerde Seleksie benadering. Daar is die neiging intemasionaal om die proses en kriteria vir die seleksie van konsultante te vereenvoudig. 'n Belangrike debat wat geidentifiseer is, is of die gebruik van professionele vergoedingskale in Suid-Afrika geelimineer moet word en of die vasstelling van professionele vergoeding deur markkragte bepaal moet word. Die navorsing het bevind dat alhoewel die CIDB heelwat werk gedoen het in die formulering van nuwe regulasies om te voldoen aan regerings hervormingsbeleid, dat daar sekere tekortkominge is wat aangespreek moet word. Hierdie sluit in: implementering, die opleiding van openbare amptenare in konsultant evaluering. die hantering van die geweldige tekort aan openbare amptenare om die konsultant evaluerings te doen en die vereenvoudiging van prosesse. Die navorsing produseer 'n omvattende vergelykende tabel van institutionele en die praktykvoerder se insette ten opsigte van die geidentifiseerde konsultant werwings - en vergoedingsmeetmiddels. Die belangrikheid van hierdie tabel is dat dit gebruik kan word om te formuleer of om aanpassings te maak aan bestaande raamwerke. Dit word voorgestel dat sulke hersiende raamwerke gemonitor en bestudeer word om sodoende die doelwit van onderhoudbaarheid en kompeterendheid in die werwing en vergoeding van konsulterende dienste in Suid-Afrika te optimaliseer.

Thesis (MBA)--Stellenbosch University, 2007. / ENGLISH ABSTRACT: Within the realm of business it is about the triple bottom line and being able to sustain the viability of the profits that accrue. Yet, business cannot exist without customers and therefore customer satisfaction is a key to long term business relationships. If a business considers customer satisfaction to be important, then a mechanism for the measurement of the customer's satisfaction needs to be determined and monitored; thereby enabling improvements and continued support. This has resulted in the establishment of the customer relationship marketing (CRM) concept. Many businesses embark on a marketing drive without any means of measurement and control of the customer relationship. This document gives direction in the implementation and application of a customer satisfaction program (CSP). Some of the well known customer satisfaction index programs are discussed. These focus on creating a common measurement for international, national, regional and individual companies. These are discussed as background to the process of developing a CSP. Aspects that are investigated are leadership, management, development and implementation of a CSP. Consideration is given to the various aspects of questionnaires and how they can influence respondents' answers. Furthermore the emotional aspects of customers are also considered. No program is complete without considering the future and what that might hold for business and hence any program that assists with maintaining business relationships. Therefore a look into what the future of CSP's could be is also discussed in general. Finally, a set of flow diagrams are presented that summarise the various aspects that should be considered when developing and implementing a CSP. The various steps can assist in focussing an organisation in its introduction of such a program. This document is by no means complete, however, it is a foundation upon which a successful CSP can be built. / AFRIKAANSE OPSOMMING: Binne die gebied van besigheid gaan dit oor die winsgrens en die volhouding van lewensvatbare winste. Tog kan geen besigheid 'n bestaansreg he sonder kliente nie en dus is klientebevrediging die sleutel tot langtermyn besigheidsverhoudings. As 'n besigheid klientebevrediging as belangrik beskou, dan moet daar 'n meganisme bepaal word waardeur klientebevrediging gemeet en gemonitor kan word sodat dit kan lei tot verbeteringe en volhoudende ondersteuning. Die uitvloeisel hiervan is die konsep van klienteverhoudingsbemarking. Menige besigheid het op bemarkingstogte gegaan sonder enige meting van of beheer oor die klienteverhoudings. Hierdie dokument dui die rigting aan in die implementeering en toepassing van 'n klientebevredigingsprogram. Verskeie van die welbekende klientebevredigingsindeksprogramme word bespreek. Die programme fokus op die skepping van 'n gemeenskaplikke meting vir internasionale, nasionale, streeks en individuele besighede. Hulle word bespreek sodat 'n fundament gele kan word vir die ontwikkeling van 'n klientebevredigingsprogram. Die aspekte wat ondersoek word is, leierskap, bestuur, ontwikkeling en implementering van 'n klientebevredigingsprograrn. Oorweging word gegee aan verskeie aspekte van meningspeilingvraestukke en hoe hulle respondente kan beinvloed. Verder word die emosionele aspekte van kliente ook oorweeg. Daar word ook aandag geskenk aan wat die toekoms moontlik kan wees ten opsigte van klientebevredigingsprogramme. Laastens, word 'n stel vloeidiagramme voorgele wat die verskeie aspekte saamvat waarna gekyk moet word wanneer 'n klientebevredigingsprogram oorweeg word. Die verskeie stappe kan help met rigtingbepaling wanneer 'n organisasie dit oorweeg om so 'n program bekend te stel. Hierdie dokument is geensins volledig en kan as 'n fondasie beskou word waarop 'n suksesvolle klientebevredigingsprogram gebou kan word.

Thesis (MBA)--Stellenbosch University, 2007. / ENGLISH ABSTRACT: Purchasing strategies impact on the value added to operations by the items included in the specific purchasing strategy. In mechanised mining operations the mining equipment plays a significant role in the production process as it is the primary production tools. This study reviews literature on the application of buyer-supplier collaboration to purchasing strategies in order to improve the value added to operations and focus on mining equipment purchasing. Most authors agree that the origin of this type of relationship is the adoption of the production management concept of Just-in-Time. Models for buyer supplier collaboration include one dimensional models such as the Traditional and Advanced Supply Management model, Models on the automotive industry, and Supplier partnerships. The one dimensional models mainly compare traditional market type supplier relationships to advanced partnership or relational type relationships. The models reviewed also include multi-dimensional models such as the portfolio management models and the strategic supplier segmentation model. These multidimensional models propose the adoption of a variety of supplier management models based on certain contextual parameters relating to the purchase and expands on the one dimensional models. The benefits of buyer-supplier collaboration include reduced inventory, increased inventory turnover, reduced scrap, increased quality, reduced costs, improved delivery reliability, design and productivity, reductions in lead time, and additional effort from suppliers. The risks associated with buyer-supplier collaboration include significant resource requirements, lack of support from suppliers, shifting of inventory, industry type exclusivity, higher switching costs, and increase in supplier's power. Buyer-supplier collaboration has certain requirements to be successful. These include a fundamental change in the purchasing strategy relating to supplier selection criteria, number of sources and time horizon, multi-dimensional evaluations, a move to single-sourcing and long term relationships. The development of buyer-supplier collaboration is dependant on similarity in industry and technology, prior experiences change, effective communication and information sharing, and experiential learning. Other success factors include two-way information sharing, top management support, shared goals, early communication to suppliers of specification changes or new products, suppliers adding distinctive value, total quality management initiatives and Just-in-time initiatives. The models for buyer-supplier collaboration form the basis of most discussions on implementation. The main implementation guidelines reviewed include the implementation of operational links relating to design, logistics and quality. The more complete implementation models include the model for Five phases in the development and evolution of purchasing partnerships. The most complete models are the portfolio management models to supplier relationship management which includes contextual analysis as well as relationship analysis and implementation. Portfolio management models were found to be the most applicable to application in industries other than manufacturing. The final part of this study applies the theory to mining equipment purchases. The theory and application of buyer-supplier collaboration were developed for the manufacturing industry and therefore several issues arise in the application of these approaches in the mining industry. No significant literature was found relating to the application of buyer-supplier collaboration to mining equipment purchasing strategies. Applying the portfolio management approach to the mining equipment purchase and suppliers, reveals that mining equipment purchases are strategic in nature and buyer-supplier collaboration is the applicable management approach. Several areas of possible value add were identified and include acquisitions costs, replacement parts, efficiency and productivity of mining equipment. The initial review of the implementation of buyer-supplier collaboration at a mining operation reveals early performance improvements in terms of service levels. The review also indicates the existence of some of the risks associated with this type of relationship, mainly the shifting of inventory to the supplier.

Thesis (MBA)--Stellenbosch University, 1978. / INLEIDING: Die doel van hierdie tesis is om die invloed van belastingpligtigheid op die finansiële beplanning van graankoöperasies in Wes-Kaapland te ontleed en die bevindings te publiseer voordat die eerste landboukoöperasie belastingpligtig word. Teoreties is hierdie vroegste datum 31 Maart 1978 wat dus na die publikasie van hierdie tesis sal plaasvind.