No abstract available. / Thesis (MBA)-University of Natal, Durban, 2002.

The international Fisher effect is identified as part of the four-way equivalence model. This model outlines a relationship between exchange rates, interest rates and inflation rates. The international Fisher effect, specifically, states that the difference in interest rates between two countries is an indicator of the expected change in exchange rates of their currencies. The aim of this paper is to test the validity of the international Fisher effect between South Africa and the UK. The understanding of the exchange rate movements is vital for management decisions, investment activity and policy making for central banks and government. Data has been collected for a sampling period beginning in July 1995 and ending in April 2001. Interest rates in the UK and South Africa are recorded for this period. A record of exchange rate movements for the same period has also been compiled. Using this data, a simulation of an uncovered interest arbitrage was carried out. This was done by taking £100 from the UK, converting it to Rands and investing those Rands in a South African bank. At the same time, £100 was also invested in a UK bank. As interest accrued over the test period, interest rates in both countries changed, exchange rates fluctuated and the balance in the South African account was compared to the balance in the UK account. According to the model, the real balances in both the accounts should remain equivalent over the sampling period. It was found that interest rates in SA were higher, more volatile and less cyclic than those in the UK. As predicted by the model, the exchange rate (in R/£) constantly increased over the sampling period. Reasons for the higher interest rates in SA include a low national savings rate, high inflation, the South African economies vulnerability to events in the international market and the reserve bank's monetary policies. The simulated arbitrage was found to be profitless and the balances of the two simulated investment accounts were found to be statistically similar. There were, however, some short term deviations from the theory. The value of the SA account was lowest during times of high interest rates in SA, when there was volatility in the forex market and when the exchange rate was at peaks in the cycle. Nevertheless, the exchange rate - interest rate relationship always returned to equilibrium. The risk and unpredictability associated with the international market is high while only small chances exist to achieve economic gain from borrowing from low interest rate environments (or investing in countries where the interest rates are high). It was concluded that the international Fisher effect, between the UK and South Africa, for the period studied, had significant short term deviations but is valid over the medium term. The implication for business practice is that stakeholders should be conservative when faced with risk associated with foreign exchange exposure unless, as is the case with speculators, it is their core competence to predict macroeconomic trends and profit from beating the market. / Thesis (MBA)-University of Natal, Durban, 2001.

AECI Bioproducts implemented the team concept as its management structure in it first ventures the lysine plant. The plant is AECI's first venture into Biotechnology. After a successful commissioning phase the plant was hampered by significant technological problems that prevented the plant from reaching design capacity. To compound matters the implementation of the Team Concept was not fully conceptualised resulting in poor implementation. The poor implementation resulted in teams being uncoordinated and often resulted in conflict between management and teams. The benefits that were envisaged from applying the team concept did not occur. The poor lysine prices and the inability to produce at design, resulted in significant losses being generated. This resulted in significant retrenchments at management level. The team structure remained intact despite the negative results achieved. The company recommitted to the team concept and structures were overhauled to ensurer the success of the teams. In 2001 Bioproducts is a vibrant thriving organisation. The productivity is above design and all benchmarks have been attained if not bettered. The organisation is one of the forerunners in the Biotechnology field and possesses skills and capabilities, which can be maximised in the future. The management question is how effective are teams and what is their relationship to job satisfaction. In this study we look at how effective teams are at Bioproducts and what is the level of job satisfaction among employees. We then determine the relationship using correlation analysis between perceptions of teamwork and job satisfaction. We also investigate the relationship between teamwork and organisational commitment, teamwork and work demands and teamwork and stress. Employees that were part of teams were given a questionnaire prepared by the author using the literature review conducted. There are seventy employees in the organisation and fifty-seven employees that belong to teams took part in the research. It was discovered that teams at Bioproducts are performing well within the organisation. Teams have high levels of autonomy, responsibility and accountability. There is a high degree of teamwork. Teams are interdependent and are co-operating and communicating well. There is a significant focus on job enrichment by management. The organisation is supporting and reinforcing teamwork well. The employees are committed to the organisation and there are high levels of job satisfaction among employees. Areas of concern that need to be looked at are the stress among employees, the insecurity surrounding ownership, communication within the organisation and training. The correlation analysis between teamwork and job satisfaction reveals that as individuals perception of teamwork increases job satisfaction increases and similarly as individuals perception of teamwork decreases job satisfaction decreases. The correlation between perception of teamwork and organisational commitment also reveals that as teamwork increases organisational commitment increases. One can conclude that team members that are happy in teams are more likely to be committed to the organisation and have increased job satisfaction. Stress of individuals increase as a result of teamwork, this is evident in the correlation analysis carried out. Organisations need to take heed of this since most individuals are not adequately equipped to deal with increases in stress levels. Teamwork places an increase in demands on employees and this factor together with stress levels need to be monitored. Overall the organisation is well equipped to deal with the ever-changing future and in terms of its human capabilities is well set to take advantage of its competitive edge once the issues that have been identified have been dealt with. / Thesis (MBA)-University of Natal, Durban, 2002.

In September 1995, the South African government introduced the Motor Industry Development Programme (MIDP) as a means of making the South African automotive industry a competitive orientated industry. The MIDP over the years has taken account of the international realities facing themotor industry in South Africa with major focus being placed on trade liberalisation, globalisation of markets against the background of rapid technological change, rising customer expectations and markets which were becoming increasingly demanding and fast moving in terms of global trends. But has the core intention of the MIDP, which was to create an internationally competitive, export industry, been lost? The research proposition that the MIDP has lost a bit of ground with regards to focusing on an export-orientated industry is examined in this dissertation. In this respect, the South African automotive industry, with regards to vehicle and component sales both export and imported, industry growth trends, and the point of view from people working within the South African automotive industry, will be analysed to determine the extent to which the MIDP has lost ground on its original intention. The results show that the MIDP has had positive spin offs with regards to vehicle exports since its induction in 1995. The results also show that, due to the MIDP, the South African automotive industry has seen a substantial growth in volumes of imported vehicles and components into the industry and how the increase in imported vehicles and components has affected the domestic market and local content. Anticipation of the findings of the study shows that the notion of higher tariffs or restrictions on imported vehicles and components could improve the local content levels in locally manufactured export and domestic vehicles. Recommendations have been made in this regard. / Thesis (MBA)-University of KwaZulu-Natal, Westville, 2009.

This paper focuses on the lack of an efficient private sector debt market for the funding of public sector projects. A brief synopsis is presented on the current listing activity on the Bond Exchange South Africa (BESA), which highlights the lack of private sector participation in public sector projects. Research is conducted on an international and a local basis with the use of a self-administered questionnaire to establish the extent of private sector funding in public projects. The results of this research reveal that whilst many jurisdictions recognise the role of the private sector in funding public sector projects, many have yet to see the benefits that flow from the private-public partnership initiatives that have been implemented in the developing countries such as China, Taiwan and South Korea. In this regard, however, South Africa has already gone a long way in the process of developing a public-private partnership program with the implementation of regulations and a separate unit being established at National Treasury to facilitate such programs. Nevertheless, the municipal sector of the country still needs to promulgate critical legislation to allow for greater involvement by the private sector in financing the infrastructure needs of local government. To provide detail to the study, an interview was conducted with the listing director of BESA, which highlighted important concerns of investors and also presented solutions to address those concerns relating to the lack of development of the private sector funding of public projects. The main concern of investors relate to the lack of proper governance structures in municipal and other government organs. The proposed solution to address the concerns of investors is to adopt innovative financing techniques to attract private investors to such projects, such as the use of securitisation schemes. Finally the study also highlights gaps in extant knowledge relating to the use of private sector funding in South African public sector projects. The study finds that more research needs to be conducted into the financial engineering techniques that have been successfully employed in countries that have more experience in developing a private sector debt market for the funding of public sector projects. / Thesis (MBA)-University of Natal, Durban, 2003.

Abstract not available. / Thesis (MBA)-University of Natal, Durban, 2002.

We show that marketing research is critical in such a market driven industry as retail food. We use the qualitative approach and case study; and the research techniques used will provide relevant information for the successful development of a new product. Tools for research that will be used, are taste tests, interviews, focus groups and questionnaires. Having compiled what customers' want, any business then faces the challenge of completely meeting those adequately and profitably. The research looks at an important part of market research; strategies for new product development and finding the appropriate marketing mix strategies. The study illustrates how 'Maharani Instant Spice' researches the market and uses the information it gains to influence its decisions about its product development. In the final analysis, the findings will determine whether the development of the new product is feasible or not. (Mayat: 1961) / Thesis (MBA)-University of Natal, Durban, 2003.

This report evaluates the business plan at Eskom's Matla power station by comparing it to grounded theory to establish whether the strategies selected prepare the station to be competitive in a commercialised environment. It is assumed that the key success factors in a commercialised environment would be low cost operation and service delivery to meet customer demands. It is shown that the business plan is deficient in many regards, but the strategies selected are adequate in preparing the station for operation in a commercial environment. A questionnaire is used to determine management buy-in to the strategies selected to gauge support for the strategies. Reasons for strategies not meeting all objectives are also looked at and recommendations are made to improve· the business plan and the implementation of the strategies selected. The question of whether the strategies support corporate strategy is answered by comparing the vision, mission and strategies selected by the station to the vision and mission of Eskom Holdings and Eskom Generation. The findings here were that, although long and awkward, the mission statement supports corporate mission, while the vision contradicts corporate vision. Matla's vision supports growth through diversification while Eskom Holdings and Eskom Generation focus on core business. / Thesis (MBA)-University of Natal, Durban, 2002.

This research is a 'case study' analysis on Flint Construction cc, which has undergone a management buy-out. Flint Construction cc specializes in the construction and restoration of surface and underground rail systems, the sale and purchase of perway materials (rails, sleepers, etc) and general civil engineering construction. The objective of the study is to determine the value of Flint Construction cc using the relevant valuation techniques discussed in the literature. Different valuation techniques are analyzed and utilized in order to ascertain the value of the business at the time of the buyout. These include using models such as Price-earnings (earnings valuation model), balance sheet valuations (assets valuation model), discounted free cash flows model (DFCF model), and the economic value-added model (EVA model). This study is a 'case study' and is limited to Flint Construction cc, and we therefore cannot generalize. Further, the study is conducted on an unlisted company, and it is difficult to obtain information, which is not publicly available. Other unlisted companies would probably be reluctant to disclose financial information. However, an interview was conducted to obtain data on strengths, weaknesses, opportunities, threats, subjective risk adjustments and perceptions of Flint Construction cc which were used in the valuation using PIE ratios, estimation of future cash flows and the EVA method. The Price-earnings (earnings valuation model), discounted free cash flows model (DFCF model), and the economic value-added model (EVA model) reveal that the business was sold at a 'fair' value of R3 million. The range for Flint Construction cc obtained from the different valuation methods excluding the net asset value method was from R2,450,403 to R3,I06,880. A further study can be undertaken to see what happens to company value after a buyout and whether shareholder value is created. / Thesis (MBA)-University of Natal, Durban, 2003.

At some time or other all organisations must undergo transition. And given today's realities, this transition must focus on the internal and external environment. The purpose of this paper is to assess how the South African telecommunications company, Telkom, handled transformation, given that dramatic changes in African economies influence the ability of an organisation to adapt to these changes in the environment, achieve better performance and pursue aggressive competitive strategies. Thus, we want to see what change management literature says about how change is managed. We will then examine or assess Telkom as a case and draw lessons from that. The results of this study reveal certain characteristics about change in organisations and the manner in which such change is implemented. Also, the findings have implications for theoretical issues such as slow and fast change and transition, strategic choice versus strategic implementation, organisational culture, and ownership. It is further hoped that the current study would bridge a gap between the management and the economic versions of institutional theory, and thus, provide a platform for a better understanding of the intricacies of organisations experiencing drastic changes in their institutional structure. / Thesis (MBA)-University of Natal, 2003.