Thesis (MTech (Business Administration))--Cape Peninsula University of Technology, 2017. / The hospitality industry has undergone far-reaching changes based on discussions held with industry representatives. Due to the rapid development of accounting systems there is an over reliance on systems to control costs. This influences the accounting skills of department managers, which are insufficient to manage their departments effectively. The research investigates the role and relevance of accounting skills amongst department managers of selected hotels in Cape Town. The research methodology employed a semi-structured questionnaire that was used to collect quantitative and qualitative data. The focus was on selected three-star (3) and five-star (5) hotels within Cape Town. The findings were drawn from a small sample of 45 hotels, among which 35 participants from the 45 hotels completed the questionnaire. A review of literature identified a strong need for department managers to have accounting skills, but there is limited evidence whether they actually hold these skills. Statistical analysis of the responses revealed that less than 50% of the participants were confident that they had sufficient accounting skills to manage their departments effectively. Two key issues were identified (1) the benefits of accounting skills (2) the need for formal accounting skills training. If the findings and concerns of the lack of accounting skills are not addressed it will affect cost control, costs will increase and profitability will be negatively affected. Recommendations include more interaction and forging links between academia and industry. A challenge for hospitality academics is review current financial management training provided and introduces mentorship programmes to develop the accounting skills of department managers.

M. Tech. / The financing needs of contractors, especially emerging contractors, need to be explored. In the case of the Small, Medium and Micro-Enterprises (SMMEs’) within the contracting sector, a type of “finance-PLUS” arrangement, which sees the lender, or an intermediary, offer additional support services to emerging enterprises, would be worth exploring. There are various perspectives and opinions on the format and context of the contribution. One of these perspectives embraces the obstacles involved in the entrepreneurial process hindering contribution and economic catalisation. This study follows a focused approach towards the investigation of a financial model for small, medium sized contractors in South Africa. Interviews were conducted and questioners were sent out to different constructors who have been successful in the business for more than five years and also contractors who are currently straggling and trying to survive and grow. Conclusions will be drawn from the analysis and recommendations will be made for further study and curriculum revision, if necessary. All types of businesses need capital before and after they start operating as well as for expansion purpose. The problem is people who have been listed on credit bureaus have their records count against them when they apply for a loan. A key factor mitigating against increased investment in the SMMEs’ sector is the structure of the financial sector. The findings of the study point to the fact that conventional financing mechanisms do not allow for cost-effective provision of finance to large numbers of entrepreneurs seeking small quantities of finance. Effects of poverty and lack of assets mean that many people do not have the collateral needed to access finance. The study also found that although there are different initiatives that are in place to assist small and medium size contractors the typical problems and challenges are still existing. The scopes of this study only focused on small, medium and micro-enterprise in the built environment (specifically the construction industry). In addition, the study focuses on the different financial programmes that are currently in place. An overarching concern is that previously disadvantaged individuals do not have adequate access to credit offered by formal financial institutions and therefore are forced to seek relatively expensive (and often inadequate) amounts of credit from alternative financial sources.

No description available.

Thesis (MCom)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: “Within the context of the current market conditions, SCF may be one of the most attractive tools for companies to diversify funding basis, enrich and solidify their relationships with suppliers and their core banks.” – Michiel Steeman (Executive Director – Supply Chain Finance Community). (ING Group, 2013b). Insufficient cash flow is one of the major reasons for business failure in the current business environment. The spotlight is on collaboration between supply chain management and finance to release tied up cash in supply chains. Supply Chain Finance is a financial tool to help improve cash flow and optimise working capital to operate more efficiently. South Africa is one of the leading fruit exporters in the world with complex supply chains and even more complex financial arrangements. The need for Supply Chain Finance is aggravated by the long distances to overseas markets, and thus the long delay in payments after goods have been shipped. Supply Chain Finance is beneficial to the supplier, buyer and the financial service provider, creating a win-win-win situation. During this research the table grape export supply chain of Denau Farming is investigated to develop an explorative case study to implement Supply Chain Finance into their business model. During the research the problem of late payment received by buyers is explored by means of interviews and existing literature. A Concept Model is developed by adapting the Supply Chain Operations Reference Model (SCOR®) and the Management for Supply Chains (M4SC™) framework to identify the supply chain strategy during the current as-is physical and financial flow and to identify the gap in the supply chain. Two Supply Chain Finance solutions are identified based on Denau Farming’s financial needs in order to develop the to-be physical and financial supply chains and the resource changes required to facilitate the respective implementation. The final result determines how the proposed Supply Chain Finance solutions affect the expected cash-to-cash cycle time and the expected Economic Value Added (EVA®) in the case study. / AFRIKAANSE OPSOMMING: “Within the context of the current market conditions, SCF may be one of the most attractive tools for companies to diversify funding basis, enrich and solidify their relationships with suppliers and their core banks.” – Michiel Steeman (Executive Director – Supply Chain Finance Community). (ING Group, 2013b). Onvoldoende kontantvloei is een van die vernaamste redes waarom besighede in die huidige sakeomgewing misluk. Die kollig val op samewerking tussen voorsieningskettingbestuur en finansiering om kontant wat vasgevang is in voorsieningskettings te kan vrystel. Voorsieningsketting-finansiering is ‘n finansiële instrument wat kan help om kontantvloei verbeter en bedryfskapitaal te optimeer om meer doeltreffend te bedryf. Suid Afrika is een van die voorste vrugte-uitvoerders in die wêreld met komplekse voorsieningskettings en nog meer komplekse finansiële reëlings. Die behoefte vir voorsieningskettingbestuur-finansiering word vererger deur die lang afstande na oorsese markte, en dus die lang vertraging vir betaling nadat goedere reeds verskeep is. Voorsieningsketting-finansiering is voordelig vir die verskaffer, koper, en die finansiële diensverskaffer deur die skep van ‘n wen-wenwen situasie. As deel van hierdie navorsing is die tafeldruif-uitvoer voorsieningsketting van Denau Boerdery ondersoek as deel van die ontwikkeling van ‘n verkennende gevallestudie om sodoende voorsieningsketting-finansiering in hul sake-model te implementeer. Tydens die navorsing is die problem van laat betaling ontvang vanaf kopers in oorsese markte verder ondersoek deur middel van onderhoude en bestaande literatuur. ‘n Konsep model is ontwikkel deur die toepassing en aanpassing van die Supply Chain Operations Reference Model (SCOR®) en die Management for Supply Chains (M4SC™) raamwerk beginnende met die identifisering van ‘n voorsieningskettingstrategie tydens die huidige fisiese en finansiële vloei en die begin van ‘n gapings-identifisering vir die voorsieningsketting. Twee voorsieningsketting-finansiering oplossings is geidentifiseer gebaseer op Denau Boerdery se finansiële behoeftes en die ontwikkeling van ‘n verwagte toekomstige fisiese en finansiële voorsieningsketting asook die hulpbronveranderinge benodig wat die onderskeie implementerings kan help fasiliteer. Die finale navorsingsresultate bepaal tot watter mate die voorgestelde voorsieningsketting-finansiering oplossings die verwagte kontant-tot-kontant siklustyd asook die verwagte Ekonomiese Waarde Toevoeging (EVA®) in die gevallestudie beïnvloed.

No description available.

published_or_final_version / Management Studies / Master / Master of Business Administration

Thesis submitted in partial fulfilment of the requirements for the Master of Science in Building: Project Management in Construction to the Faculty of Engineering and the Built Environment at the University of the Witwatersrand, 2018 / This study reports on a quantitative descriptive design that investigates the challenges in the procurement process of housing infrastructure projects in the Eastern Cape Department of Human Settlements. The study compares two procurement strategies utilised in the department with regards to infrastructure related projects. Pretested questionnaires were distributed to 57 participants who were purposely selected consisting of Structural Engineers, Project Managers, Quantity Surveyors and officials working in Finance and Supply Chain Management. Findings of this study revealed that 1) there is a shortage of skills and that most organisations do not implement career programs in the supply chain management and the construction industry. 2) Both management and employees were aware of the procurement challenges in housing infrastructure projects 3) the turn-key procurement method compares favourably to the traditional methods, as the later has less budget variation, thorough planning since the contractors involvement during the initial stages of planning is evident. 4) a lack of clear communication between the department supply chain management and its supplier amongst a host of other factors because they are less supervised/ monitored and that resulted for wasting of time, no productivity, and poor performance. The cause of these problem stems from the lack of an appropriate procurement strategy for projects. / XL2019

As public utilities and government owners face increased budget constraints and greater expectations, alternative project delivery methods will increasingly be used to fast track projects, reduce costs, promote innovation and ensure proper performance for various types of facilities and infrastructure systems. The goals of public utility owners along with economic and financial considerations suggest why some project delivery methods have been selected over other project delivery methods. In response, the first phase of this doctoral research presents a model for selecting the optimum project delivery method that considers economic sustainability as well as other goals of multiple project stakeholders. This first phase of research contributes to the existing body of knowledge and benefits industry practitioners by identifying best practices that improve the project delivery selection process while enhancing risk mitigation efforts. The procurement selection process uses multiple-criteria decision-making and financial risk analysis to select the most economically sustainable delivery method given each project’s unique characteristics. A present value analysis establishes a range of values that considers variables that will potentially impact lifecycle costs. The selection of the procurement process is based on best value where financial risks to the concerned government and other project stakeholders are mitigated through service fee agreements and project finance structures, which are both dynamic and provide for real options. The second phase of this research presents an innovative approach for the valuation of the types of real options on project finance structures which are specifically procured through a design-build-finance-operate project delivery method (also known as a public-private partnership) (P3). This second phase of research includes an investigation into systems engineering and System Dynamics (SD) simulation modeling. An SD model is used for the valuation of real options attached to a P3 project’s finance structure. The valuation of these real options is based on the simulation results related to infrastructure performance. The significance of this research is made greater considering that P3s are increasingly being pursued because of their ability to alleviate pressure on government budgets, promote innovation and implement new technologies. These types of contracts, however, tend to be long-term and often need to account for future yet-to-be-seen variables that potentially impact the feasibility of this procurement method. This is especially true when the P3 project exists within a portfolio of competing assets across infrastructure systems. This second phase of research presents An SD model that is used to analyze the complexity of an infrastructure asset procured through a P3 within such a portfolio. An illustrative case demonstrates how discrete and continuous events potentially impact the successful procurement of infrastructure within a portfolio of competing assets comprising a regional transportation system. This second phase of research contributes to the existing body of knowledge by demonstrating how An SD model can simulate the real-world causal relationships that impact the procurement of infrastructure through P3s. The SD model is used for the valuation of real options to promote public initiatives, encourage private participation and enhance economic sustainability of P3 as a viable procurement strategy. The third and final phase of this doctoral research considers the increasing complexity of infrastructure procurement as individual assets are increasingly viewed as being part of a larger network of interdependent systems. In response, the objective of this final phase is to present a methodology to simulate the behavior of assets that span across different types of infrastructure systems. This investigation presents a method for analyzing investments that traverses across different infrastructure systems with individual assets procured through a variety of project delivery methods. This third investigation also utilizes An SD simulation model. In the final phase of this doctoral research, however, the SD model captures the causal relationships between competing assets where simulation results elucidate the compounding effects of multiple investments that traverse across two or more infrastructure systems. By doing so, this research contributes to the existing body of knowledge and demonstrates how SD models are effectively used to value real options that are termed exotic. These exotic types of real options occur within a portfolio of competing infrastructure assets where the valuation of each real option must consider the compounding effects of competing alternatives as well as the value of the underlying asset. This research presents a methodology for the valuation of multiple types of exotic options in real investments that traverse across various types of infrastructure systems. This method can also be applied to the valuation of other types of exotic options in various industries including research and development pursuits.

The Liquefied Petroleum Gas (LPG) cylinder market consist of a group of consumers with similar yet differentiated needs, namely commercial customers (small industries, restaurants, wholesalers and nature reserves), low-income customers (such as the rural and township households with a monthly income of R748 - R2288) and high-income customers (such as the urban households with a monthly income above R9743). LPG is mainly used for cooking, lighting, heating, leisure and as a preferred form of energy in the commercial segment. The key issues currently facing the industry are: minimum growth, high capital requirement, rising cost of product and squeezing profitability. / Thesis (MBA)-University of Natal, 2002.

M.Tech. (Construction Management) / The construction industry is a key sector in the development and economic growth of South Africa. However, the industry has not escaped the challenges facing other countries worldwide in terms of delivering construction projects within budget and on time as stipulated in the contracts. This study assesses the causes, effects and measures of minimising construction projects cost and schedule overruns in the Gauteng Province of South Africa. The data used in this study were derived from both primary and secondary sources. The secondary data was collected via detailed review of related literature. The primary data was collected through a questionnaire which was distributed to construction professionals. Out of the 200 questionnaires sent out, 146 were received representing a 73% response rate. Findings revealed that inadequate planning, change in project design, poor project management, inadequate financial provision and inaccurate estimates were the major causes of construction projects cost overruns. Furthermore the study also showed that the causes of construction projects schedule overruns in Gauteng province included: slowness in decision making process, reworks due to errors during construction, delays in approving major changes in the scope of work, delay in material delivery, shortage of skilled equipment operators and low productivity level of workers. Additionally, it was observed that construction project delays, increased project cost due to extension of time, liability of companies to bad debt and project abandonment. The study also revealed that extension of time, cost overruns, loss of profit, disputes and poor quality of work due to hurrying the project were the major effects of construction projects schedule overruns. Likewise, the study revealed that adequate planning, proper pre-contract planning, proper project implementation and management and good workmanship were the most effective ways of minimising construction projects cost overruns. Finally the results revealed that proper project planning and scheduling, effective strategic planning, site management and supervision, frequent coordination between the construction team, availability of clear information and communication channels were the most effective ways of minimising construction projects schedule overruns in the Gauteng Province of South Africa. It is recommended that all members of construction teams be trained and educated of the factors that cause project cost and schedule overruns in order to minimise these overruns.