South Africa abandoned its apartheid system in 1994, which enabled the country to be integrated into the global economy. Due to the lack of global competitiveness, between 70 and 80% of start-ups fail within five years (Goosain, 2004:23). People lost their jobs and the unemployment rate escalated from 17% to 28% (Kingdon and Knight, 2003). Government increased its support to small businesses in order to stimulate economic growth and development as an alternative means of job creation. However, studies conducted to determine the performance of small businesses reveal that most of these businesses fail irrespective of the support they receive from government due to a lack of financial management skills. The study being reported here investigated which financial management skills owners/managers of small business have and which ones are lacking in order to recommend appropriate training interventions required to develop and improve the financial management skills of such owners/managers and ultimately the management of their businesses. A literature review was conducted regarding the small business environment, training interventions and financial management skills. Financial management skill sets relevant to small business were identified and listed for empirical research purposes. Empirical research was conducted on the target population within the indicated geographical area. The study confirmed that most small business owners/managers have limited financial skills. Recommendations will be put forward on the type of skills future training needs to focus on. / Finance and Risk Management and Banking / M. Com. (Business Management)

Bakgrund: Ett kooperativ är inte en företagsform vars syfte är likt de vanligast förekommande företagsformerna. Poängen med att starta ett kooperativ är däremot att sammansluta en grupp människor eller företag vars intressen i något hänseende går att förena. Kooperativ ägs således av individer i olika kombinationer som strävar efter en och samma sak. Ordet ”kooperation” härstammar ifrån det latinska uttrycket ”arbeta tillsammans” vilket är precis det man gör inom en kooperation. Det första konsumentkooperativt i Sverige uppkom redan under 1850 talet i Uppsala. Birchall (2014) tar upp nyckelfråga vars både praktiker och teoretiker är fundersamma kring: Kan ett kooperativ ömsesidigt ta hänsyn till medlemmarnas åsikter och därmed förbli trogna de principer som kooperativet och den ekonomiska föreningen i sig grundades på? När ett kooperativ växer sig tillräckligt stort, är det genomförbart, och ens rimligt att kooperativet tar hänsyn till medlemmarna, om inte, på vilket sätt hanterar företrädarna denna problematik? Syfte: Syftet med denna studie är att beskriva och analysera hur målstrukturen ser ut inom Coop Syd. Vidare syftar studien till att kartlägga hur ledningen hanterar problematiken samt tar hänsyn till att medlemmarna både är ägare och konsumenter till föreningen vid utformningen av organisationens målstruktur.iiMetod: Uppsatsen är en kvalitativ fallstudie på Coop Syd. Empirin utgörs av intervjuer med respondenter på ledningspositioner ifrån kooperativet och ekonomiska föreningen Coop Syd. Det empiriska materialet har även kompletterats med skriftliga svar via mailkontakt. Det insamlade materialet har sedan analyserats samt ställts i jämförelse mot den valda teoretiska referensramen för att kunna besvara uppsatsens frågeställning och uppfylla syftet. Slutsats: Coop Syds utformning av målstrukturen är följaktligen en aning komplicerad process. Den består av två delar, en icke-finansiell och en finansiell del. Målstrukturen är påverkad ifrån flertalet olika håll där ledningen måste handskas med att integrera medlemmarnas dubbla roller, CSAB och den operativa verksamheten inom målstrukturen. Styrningen präglas av en långsiktighet med medlemsnytta i fokus inom målstrukturen. Coop Syd hanterar problematiken med att medlemmarna är både konsumenter och ägare främst genom ägarombuden. Ägarombuden spelar en viktig roll tillsammans med andra faktorer för att hantera medlemmarnas dubbla roller vid utformning av organisationens målstruktur. Nyckelord: Målstruktur, ekonomistyrning, konsumentkooperativ, kooperation, ekonomisk förening, målkongruens, medlemmar, långsiktighet, finansiell styrning, icke-finansiell styrning, ägarombud. / Background: A cooperative is not a form of business whose purpose is similar to the forms of business we most often come into contact with. The point of starting a cooperative, on the other hand, is to bring together a group of people or companies whose interests in some respect can be reconciled. Cooperatives are thus owned by individuals in various combinations who strive for one and the same thing. The word "cooperation" comes from the Latin expression "work together", which is exactly what you do within a cooperation. The first consumer cooperative in Sweden arose already in the 1850s in Uppsala. Birchall (2014) addresses a key question that both practitioners and theorists are pondering: Can a cooperative mutually consider the views of its members and thereby remain true to the principles on which the cooperative and the economic association itself were founded? When a cooperative grows large enough, is it feasible, and even reasonable, for the cooperative to consider the members, if not, how do the representatives deal with this problem? Purpose: The purpose of this study is to describe and analyze what the target structure looks like within Coop Syd. Furthermore, the study aims to map how the management handles the problem and considers that the members are both owners and consumers of the association when designing the organization's target structure. Methodology: The essay is a qualitative case study at Coop Syd. The experience consists of interviews with respondents in management positions from the cooperative and economic association Coop Syd. The empirical material has also been supplemented with written responses via email contact. The collected material has then been analyzed and compared to the chosen theoretical frame of reference to be able to answer the essay's question and fulfill the purpose. Conclusion: Coop Syd's design of the target structure is therefore a somewhat complicated process. It consists of two parts, a non-financial part, and a financial part. The target structure is influenced from several different directions where the management must deal with integrating the dual roles of the members, CSAB and the operational activities within the target structure. Governance is characterized by a longterm approach with member benefits in focus within the target structure. Coop Syd deals with the problem of the members being both consumers and owners, primarily through owner representatives. The ownership representatives play an important role along with other factors in managing the members' dual roles in shaping the organization's goal structure.

An economic recession can disproportionately affect the financial stability of churches because their income relies primarily on voluntary contributions. The purpose of this phenomenological study, framed by servant leadership theory, was to explore lived experiences and perceptions related to church leaders' strategies for coping with the economic downturn in 2008. A purposive sample of 20 church leaders from Tennessee was recruited to explore the changes that have been made in church operational strategies in order to cope with the recession. The interview data were iteratively examined by using keywords, phrases, and concepts and were coded into categories, which led to the identification of the following themes: (a) implementing cost reduction efforts and increasing the reliance on volunteers for facility upkeep, (b) collaborating with other church leaders for assistance referrals and fraud detection, and (c) sharing facilities and dividing expenses. The study results contribute to positive social change by providing strategies that church leaders can implement to mitigate the negative effects of a financial downturn, strengthen their financial position and stability, and enable them to provide necessary community support. Financial stability in neighborhood churches is conducive to a stronger community because churches serve as focal points for volunteerism and assistance delivery.

Inadequate environmental scanning, poor financial strategy, and misaligned customer focus are responsible for 79% of retail profitability losses. The purpose of the qualitative study using a multiple-case study design was to explore the strategies needed to align financial strategy with customer-oriented processes in the retail industry. The research question involved understanding trends and operational risks influencing the establishment of financial alignment strategies. Porter's five forces model of customer influence, Pearce's environmental and economic factors affecting society values, and Albright's strategic planning of environmental influence served as the theoretical foundations for the study. 30 executives, managers, and team leaders in 2 Midwest U.S. organizations completed interviews. Interview data were coded for emergent themes. Themes included advanced strategic planning, improved customer-buying power, enhanced business viability, and reduced business uncertainties as components of a guiding strategy needed to align financial strategy with customer-oriented processes. Implications for positive social change include increased profitability that can result in improved employment opportunities.

Until recently, personal financial management has become increasingly important for consumers as in the past. Literature indicates that consumers in rural and low-income areas are the most financially vulnerable and depends mostly on unsecured loans to finance their daily expenses. The primary objective of this study was to evaluate the level of financial literacy among adults in Vhembe District Municipality in Limpopo, South Africa. The results indicate that the level of financial literacy among adults in Vhembe District Municipality is low (38.73%). The low levels of financial literacy have serious consequences for an adult’s personal financial management skills and lead to their inability to make correct financial decisions. The study concludes by suggesting interventions that could help adults to improve their level of financial literacy, manage and sustain their financial well-being. / Business Management / M. Com. (Business Management)

Objective of doctoral thesis is creation of model of financial management of company based on determining the optimal set of key indicators of success and their interaction principle in order to improve the efficiency of the company. Creation of a model of financial management of the enterprise is based on the study and comparison financial and managerial practices of ten large construction companies located in the Czech Republic and in Portugal. A model has been created that links the methods of financial management and analysis. The model was subsequently successfully tested on two specific companies. It was also proposed methodology, sequence of steps for its implementation and subsequent use in practice. To determine the effectiveness of decisions made, the EVA method was used. The model evaluates the financial condition of the company, determines the dependence of financial stability on external factors, determines the tasks that the company must fulfill in order to increase the company's efficiency.

Church financial leaders were affected by the economic crisis after the 2008 recession. In a 2009 group study conducted nationwide with church financial leaders, 57% stated that the economy had a negative effect on their church budgets. The purpose of this qualitative multiple case study was to explore successful strategies that some church financial leaders used to ensure financial sustainability during economic crises. Resource dependence theory was the conceptual framework. Data were collected from 6 church financial leaders at 4 churches in the northeastern region in the United States; church financial leaders were selected through purposeful sampling to participate in semistructured interviews. Data were also collected from church documents, such as financial records and budget statements. These data were analyzed to identify emerging themes using Yin's 5-phase process: compiling, disassembling, reassembling (and arraying), interpreting, and concluding. The 3 themes that emerged from the data analysis were (a) provide strategies to acquire external resources, (b) specify plans to establish internal strategic factors, and (c) provide strategies to improve financial and strategic management. Findings and recommendations of the study could contribute to positive social change by providing church financial leaders with successful strategies to ensure financial sustainability during economic crises and by increasing church revenue and improving social programs, which help improve the needs of staff, members, and people in the community.

This study intended to explore the effectiveness of finance committees at schools. A qualitative design, using interviews with purposely selected participants made up of fifteen school principals and ten finance officers in the Sedibeng Districts of the Gauteng Department of Education was used for data collection. This was aimed at exploring how effective school finance committees are and to recommend ways of improving their effectiveness in executing their financial management function. The literature study exposed the conceptual framework and essence of the functional effectiveness of school finance committees, which laid the basis for the empirical study. The empirical study was based on the social constructivist paradigm with the phenomenological approach as the strategy of enquiry. Findings of the study indicate that school finance committees are generally structured in line with policy directives. It was also found that the performance and attitudes of office-bearers of finance committees affected the effectiveness of finance committees. Firstly and for various reasons, principals as ex-officio members generally played a dominant role in finance committees. Reasons include their perceived ‘high‘ level of knowledge regarding financial management and the lack of knowledge and skills of other finance committee members to execute their responsibilities. Secondly, finance committee effectiveness was found to be negatively affected by poor budgetary processes – from the planning process to the implementation and monitoring, which include weaknesses in financial administration and reporting as well as evaluation of the budget implementation process. As a result, the management of funds was often characterised by budget variances and the need for virement. Recommendations of the study address the need for intensive capacity-building for finance committee members in specific areas of their roles and functionality. This must be accompanied by constant monitoring by Departmental development and support officers responsible for school governance. In this regard, there must be a feedback and system that enables corrective action to be taken as soon as signs of poor performance emerge. Finally, it is recommended that the structure of the finance committee be reviewed, especially as it concerns office-bearers. In this regard, it is recommended that finance officers be charged with the responsibility of financial administration and not double up as secretaries of school governing bodies. / MEd (Education Management)--North-West University, Vaal Triangle Campus, 2015

Students from 24 participating regions take part in teams of four in the CIMA (Chartered Institute of Management Accountants) GBC (Global Business Challenge) annually. The GBC is in the form of a business competition which is based on a case study of a real company. The participants receive the case study on which they should submit a written report. Teams are shortlisted based on the reports, and the shortlisted teams have to prepare a presentation to a panel of judges. This study explores whether participation in the GBC had any benefits for the participants in terms of exposure to various skills and the development of those skills. The skills included: technical skills and competencies, skills in roles of an accountant, soft skills, managerial accounting skills, financial management skills, strategic analysis skills, subject exploration, learning behaviour, practical application, and personal experience. A questionnaire was given to participants whose teams managed to compete in the global final of the GBC 2013 that was held in South Africa. Questions were formulated to address exposure to and development of the abovementioned skills, and participants had to complete the questionnaire individually. Relevant statistical analyses were done on the data collected in the questionnaire. These statistical analyses included a confirmatory factor analysis, calculation of the Cronbach alpha coefficients, descriptive statistics for the total group, independent t-tests for comparisons between two variables, ANOVAs (analysis of variances) for comparisons between more than two variables and Tukey’s post-hoc tests. Descriptive statistics for the entire group of participants are discussed, as well as comparisons made between various sub-classifications. The sub-classifications included a comparison between male and female participants, participants from different regions, top six shortlisted teams and teams who were not shortlisted, and participants whose mother tongue is English and those whose mother tongue is another language. The findings indicated that the students definitely perceived that they have been exposed to the mentioned skills as a result of taking part in the GBC. They also indicated that they are of the opinion that participation in the GBC enhanced those skills. The qualitative remarks were mainly positive, and indicated that the students enjoyed participation in the GBC. The study concludes with recommendations to the core audience of future GBC participants, academic mentors and future students attempting the final CIMA examinations, which includes a framework of the most important skills. A recommendation is also made to the peripheral audience of CIMA and financial management lecturers. / MCom (Management Accountancy), North-West University, Potchefstroom Campus, 2015

Students from 24 participating regions take part in teams of four in the CIMA (Chartered Institute of Management Accountants) GBC (Global Business Challenge) annually. The GBC is in the form of a business competition which is based on a case study of a real company. The participants receive the case study on which they should submit a written report. Teams are shortlisted based on the reports, and the shortlisted teams have to prepare a presentation to a panel of judges. This study explores whether participation in the GBC had any benefits for the participants in terms of exposure to various skills and the development of those skills. The skills included: technical skills and competencies, skills in roles of an accountant, soft skills, managerial accounting skills, financial management skills, strategic analysis skills, subject exploration, learning behaviour, practical application, and personal experience. A questionnaire was given to participants whose teams managed to compete in the global final of the GBC 2013 that was held in South Africa. Questions were formulated to address exposure to and development of the abovementioned skills, and participants had to complete the questionnaire individually. Relevant statistical analyses were done on the data collected in the questionnaire. These statistical analyses included a confirmatory factor analysis, calculation of the Cronbach alpha coefficients, descriptive statistics for the total group, independent t-tests for comparisons between two variables, ANOVAs (analysis of variances) for comparisons between more than two variables and Tukey’s post-hoc tests. Descriptive statistics for the entire group of participants are discussed, as well as comparisons made between various sub-classifications. The sub-classifications included a comparison between male and female participants, participants from different regions, top six shortlisted teams and teams who were not shortlisted, and participants whose mother tongue is English and those whose mother tongue is another language. The findings indicated that the students definitely perceived that they have been exposed to the mentioned skills as a result of taking part in the GBC. They also indicated that they are of the opinion that participation in the GBC enhanced those skills. The qualitative remarks were mainly positive, and indicated that the students enjoyed participation in the GBC. The study concludes with recommendations to the core audience of future GBC participants, academic mentors and future students attempting the final CIMA examinations, which includes a framework of the most important skills. A recommendation is also made to the peripheral audience of CIMA and financial management lecturers. / MCom (Management Accountancy), North-West University, Potchefstroom Campus, 2015