This study was undertaken to analyse the developments in the anti avoidance legislation over a five year period from 1 March 2006 to 28 February 2011. Emphasis were placed on describing the road from the old section 103 provisions leading to the new general anti avoidance rules (GAAR) as contained in sections 80A to 80L of the Income Tax Act 58 of 1962. The study began with a detailed analysis of the differences between tax evasion and tax avoidance based on definitions and interpretations by various courts. It then went further in chapter two to formulate an acceptable distinction between Tax evasion, Tax planning and impermissible tax avoidance as currently used by the South African Revenue Services (SARS). It appeared from the study that firstly, courts have historically reviewed the circumstances surrounding an arrangement when determining whether tax evasion has occurred. The new GAAR requires the individual steps of an arrangement to be reviewed in isolation. Secondly, the courts have historically held that the purpose test, when determining the taxpayer‘s purpose, was subjective. The wording of the new GAAR indicates that this test is now objective. Thirdly, the courts have historically viewed the abnormality of an arrangement based of the surrounding circumstances. The wording of the new GAAR requires an objective view of the arrangement. A comparison was made between countries that have adopted statutory GAAR with a view of understanding how they have applied these general anti avoidance provisions successfully to tax avoidance cases. This comparison revealed that there is an inconsistent application of these general anti avoidance provisions by different countries. Courts and administrators apply them differently, based on circumstances and the nature of avoidance. Lastly, it has been acknowledged that most avoidance schemes are very complex and their perpetrators are always on the look for gaps in tax systems, hence any avoidance legislation to effectively curb tax evasion will need to be revised on a regular basis. Therefore, the Commissioner would be expected to issue regular updates on anti avoidance provisions and latest developments in the form of interpretation and or practice notes. / Thesis (MBA)-University of KwaZulu-Natal, Westville, 2011.

Employment, economic growth and self-reliance are the appetites of every country. Small enterprise development is seen as an effective solution towards this goal depending on the availability of resources. Private equity finance is one of the key resources to enterprise development in a country. International case studies have shown that private equity finance can lead to enterprise development in a country. The aim of the study is to determine the contribution of private equity finance to enterprise development in South Africa. In order to get views from other role players in the private equity finance market, questionnaires were distributed to 200 private equity finance players and the response rate was 39%. The sample size comprised 61.5% males and 38.5% females. The majority of the participants were in the age group 25–34 and constituted 53% of the respondents, whilst those aged 35–49 years constituted 35.9%. A smaller number of respondents were in the age group 18–24 and 50 and above, which both comprised 11.5% as an aggregate. The results revealed that there is a positive correlation between enterprise development and private equity capital with 83% of the respondents agreeing and strongly agreeing that the business skills and expertise brought by private equity investors increase business performance. Of the respondents, 74.4% strongly agree and agree with the notion that most Small and Medium Enterprises do need the intervention of private equity investors. It is recommended that the government, through relevant legislation, needs to promote and encourage private equity investment. Some form of private equity investment such as angel investment needs to be formalized, as is available in other countries such as the United States of America and some countries in Europe. / MBA. University of KwaZulu-Natal, Durban 2010.

The decline of employment globally with various countries and economies either in recession, post recession or on the brink of recession is a serious concern to governments, the private sector, civic organizations and the general population. Associated with this decline are dynamics of poverty, food insecurity, maladministration and corruption, civil war, and a new world order. Governments are now looking to implement and support successful solutions that have been tried and tested. It has been identified that franchising is successful solution that is on the increase globally. Franchising is a multibillion dollar revenue creator globally and accounts significantly for employment. The automotive sector is growing at an unprecedented rate with the greater number of motor cycles, cars, taxis, busses and trucks on the road. The Midas franchise is the second fastest growing franchise in South Africa. There are more than two hundred and twenty franchises in South Africa and surrounding countries. The aim of this research study is to investigate if franchising provides entrepreneurs, especially new business owners a more secure business start up, and to assess the success of the Midas franchise. The research methodology adopted in this study adopts a qualitative research method. The instruments used to obtain data are questionnaires, face to face interviews, observation and photography. The study area encompasses franchisees from the eThekwini Municipal area. Six Midas franchisees and the KZN regional Midas franchisor have been interviewed. The findings have proven to be remarkable, supporting the hypothesis which states that franchising is a successful tool to assist entrepreneurs. Most entrepreneurs have citied their contentment with being with a franchisee and their optimism to venture into more franchises. The franchisor boasted their rapid expansion in South Africa. There were also recommendations arising out of the study so as to enhance entrepreneurship and franchising in South Africa. / MBA University of KwaZulu-Natal, Durban 2012.

South Africa is a country in a state of flux. It has many problems / Thesis (Ph.D.) - University of KwaZulu-Natal, Pietermaritzburg, 2008.

This research study is concerned with the effects and dynamics of 'integrated' schemes of employee participation, where workers are involved in both work-related decision-making, and also share in the profits of their employer. Prior research and the literature on employee participation has tended to concentrate on the process and effects of either financial participation in isolation, or of decision-making participation, but seldom on situations where both are employed simultaneously. Based on a thorough literature review, this study presents a 'Model of Integrated Employee Participation (incorporating moderating effects)'. The model explicates a process through which both types of worker involvement may operate together, leading to a set of behavioural and performance outcomes. Where the formal participation schemes are operationalised such that, combined, they lead to perceptions equivalent to 'psychological ownership', a substantial goal-congruence and integration of the employee with the organisation occurs. These processes lead, in turn, to influences on individual and organisational outcomes. Antecedent and moderating variables to the operation of such 'integrated' participation schemes are identified in the model. Specifically, the effects of the schemes are postulated to be moderated by employees' biographical and personality factors, by their perceptions of managerial commitment to employee participation, and by their perceptions of aspects of the organisation's managerial system of communication and control. The relevance and implications of the model to the South African gold-mining industry are discussed. Major pillars of this 'Model of Integrated Employee Participation (incorporating moderating effects)' were tested within a detailed investigation of the participation schemes in operation at a profitable South African gold-mining company. This investigation was longitudinal in nature, with two major surveys being performed over a ten-month period. The findings suggested that while the effects of the 'integrated' schemes on employees' job satisfaction, performance and stability were as anticipated, the proposed moderating effects were generally non-existent or insignificant. In order to obtain greater clarity of the dynamics of 'integrated' schemes of employee participation, a path analytic exploration of the interrelationships between the measured variables of the study was then undertaken. A detailed path model was developed and then tested, at three levels of the organisational hierarchy as well as on the entire workforce. The path model was substantially supported for the 'entire workforce', and for the largest stratum of the mine's employees, being the 'unskilled and semi-skilled' workers. Satisfaction with participation was found to be positively and significantly associated with perceived extent of participation. This applied to both the financial and decisional elements of the schemes. Job satisfaction and employee performance were also found to be positively associated with perceived extent of participation and / or satisfaction therewith. Employees' perceptions of managerial commitment to 'integrated participation' predicted their satisfaction therewith. Aspects of the organisation's system of managerial communication and control were found to significantly affect levels of job satisfaction and employee performance in the participative environment of the mine. The model was only partially supported, however, at the more senior levels of 'management' and 'supervisors and artisans'. It thus appeared that 'integrated participation' schemes may not enhance job satisfaction and performance at the higher levels of the organisational hierarchy, and that the schemes' effects may thus be moderated by employee seniority. The empirical findings were supportive of much of the literature on participation programmes. They were particularly consistent with 'affective' and 'contingency' explanatory models of the effects of -participation. The findings did not, however, support 'cognitive' explanatory models of the effects of participation. / Thesis (Ph.D.)-University of Natal, 1995.

Human Resource Management (HRM) has undergone significant changes during the past twenty-five to thirty years in response to the demands made upon the Human Resource function. With the change in emphasis in HRM has come the need for human resource practitioners (HRPs) to adapt to the new demands made upon them to contribute directly to the bottom line success of their organisations It is argued that HRM is inherently ambiguous, attempting to meet both the needs of the business and the individual employee. This places pressure on HRPs to become "specialists in ambiguity" as they attempt to meet the demands of key stakeholders in the enterprise. The emphasis in the role of the HRP, has moved historically, from that of a welfare officer to that of a fully fledged member of the management team, held equally responsible for the success of the operation. As with most professions today, a price is exacted for participation in modem organisations in the form of increased work-related stress. Considerable research has been undertaken over the past thirty years into work-related stress among many professions~ but no identifiable, in depth studies into sources of work-related stress among HRPs were located. The significant shift that has taken place in the role of HRPs, from their original welfare orientated function, to the current role emphasis on contributing to direct bottom line success, provides the context for the increase in work related stress levels experienced by some HRPs. The study investigates the links between the career orientation of HRPs, role stress factors and burnout in an attempt to identify sources of stress among a sample of human resource practitioners drawn from the greater Durban area and the KwaZulu Natal coastal region. The report is diagnostic and not prescriptive in attempting to ascertain coping skills for stressed HRPs. The study model posits a juxtaposition between those HRPs who are "service" orientated with those who are "managemeng' orientated. The purpose is to establish in the current corporate environment, whether those who are more service orientated, would suffer greater work-related stress, in contrast to those who are more "management" orientated, who were conceived of as experiencing less work-related stress. No strong links are revealed between "service" and "general management' and Role Stress or Burnout. The combined effects of role stress and burnout are conceived in the study to illustrate work related stress. In contrast to the original study model, two other findings of significance emerged. Those HRPs who were entrepreneurially orientated showed the highest levels of workrelated stress. And, those who were technical/functional orientated were least likely to be affected by role stress and burnout. These findings are important in light of the current call for HRPs to be entrepreneurial and innovatively creative. Yet these HRPs reveal the greatest possibility of experiencing role stress and burnout. In contrast, those HRPs whose orientation is technical and functional are found to reveal the least possibility of suffering from work-related stress. These findings lead to a new paradigm revealing the presence of a different dilemma and tension for HRPs. Within the demand for a total business focus on the part of HRPs and HRM, emerges a tension between the more stressful entrepreneurial and innovative role and the more stable technical and functional role also demanded by the organisation. The study suggests that the ambiguity in HRM in practice presents itself in terms of dilemmas and contrasts with which the HRPs has to live. Role ambiguity and role overload appear to contribute most to the possibility of burnout. Role ambiguity has its origin in the very nature of HRM, which is shown to be inherently ambiguous. Role overload among management, is observed more as part of the nature of the modern work environment, whereas role ambiguity emerges as a feature of the nature of HRM. Role conflict is explained mostly as a normal element in the HRPs job of balancing competing demands in the work place. The ambiguous nature of HRM and the uncertainties which it generates adds to the work-related source of stress and leads to HRPs having to become "specialists in ambiguity". Role stress factors, rather than career orientation elements are shown to be the leading contributors to the possibility of increased levels of burnout The findings have implications for the selection and training of HRPs. The contemporary emphases require HRPs to balance a tough minded business focus with acceptable innovate approaches to the organisation's human resources and excellent ongoing functional services. This balancing of ambiguities needs to be accompanied by a sensitivity to people, without becoming the subject of role stress and raised levels of burnout. / Thesis (Ph.D.)-University of Natal, Durban, 2002.

This interdisciplinary thesis has two principal objectives: to measure the relative efficiency of South Africa's public universities between 1994-97 and to provide explanations for levels of efficiency observed. Two methods Data Envelopment Analysis (DEA) and analytical review - were used to measure relative efficiency and to attempt to explain efficiency amongst the ten universities for which comparable data were available, covering the years 1994 to 1997. Three DEA models academic, research and consolidated - were estimated and this analysis was supplemented by the analytical review method. which confirmed the results from the DEA computations. Institutions were grouped according to their relative efficiency measures within three suggested apparent levels of efficiency. An attempt was made to explain efficiency across various dimensions and the issue of quality was also addressed. Finally, some benchmarks of 'best practice' for the university sector were suggested. These findings have important implications for policy in higher education, particularly in respect of university rationalisation and governance. / Thesis (Ph.D.)-University of Natal, Durban, 2000.

No abstract available. / Thesis (M.B.A)-University of KwaZulu-Natal, Pietemaritzburg, 2005.

The Theory of the Firm consists of a number of economic theories that attempt to describe the nature and the behaviour of the firm. One of the important assumptions of the theory is that of profit maximisation. In order to maximise profits, there are four factors of production that are required by the firm, i.e. land, labour, capital and entrepreneurship. Although capital may relate to the acquisition of funds that are required by the business, it also relates to proper financial skills that are needed to manage these funds. Therefore, in order to successfully establish and manage a business, especially a small or medium sized enterprise, it is necessary to possess financial management and accounting skills. The SME sector has been identified as having the potential to contribute to economic growth of the country. In order to achieve this objective, is important that the sector is well managed and that there are sufficient accounting and financial management skills in the sector. The research has been undertaken in order to determine and evaluate accounting and financial management skills that are needed by the SME sector in KwaZulu-Natal. The literature review suggested that an absence of accounting and financial management and accounting skills contributes to the poor performance of the sector in South Africa and that the possession of some basic skills in these fields may enhance the growth and profitability of the sector. The research design was of a quantitative nature. A questionnaire was completed by a group of thirty industry experts and these findings were statistically analysed. The questionnaire allowed for further comments and opinions from the experts on selected accounting and financial management aspects in the SME sector. The empirical research indicated that: • there is a low level of accounting and financial management skills in the SME sector in KwaZulu-Natal; and, • there is a need to improve the accounting and financial management skills in the SME sector in KwaZulu-Natal. / Thesis (M.Comm.) - University of KwaZulu-Natal, Pietermaritzburg, 2008.

Earnings in the South African and Zimbabwean mining industries have been severely impacted by these countries' socio-economic and political changes in the last decade. News reports and international research publications consistently rates Zimbabwe as a country with the highest political risks in the world. In South Africa (SA), the initial mining charter requiring 51% Black Economic Empowerment, was leaked to the press in 2002 before promulgation making international investors weary. The currency, the Rand (R) has strengthened from the US$ from R13.85 in 2002 to R 7.17 in 2007, significantly impacting on returns as investors to shift their portfolio to other sectors. The purpose of this research was to explore the implications of country risk and investor sentiment for Impala Platinum's valuation and provide strategy recommendations to improve its market rating whilst sustaining its competitive advantage as a platform for achieving its 2010 vision. In this study, a brief environmental scan of the mining industry was undertaken focusing on the platinum sector as well as a background review of the industry and a five year performance comparison between Impala and Anglo Platinum. It also reviewed corporate strategy literature as it relates to the research problem as well as theoretical models of investor sentiment and decision making processes. The specific research design was primarily exploratory in nature. The Implats valuation conundrum appears to be a phenomenon and the best way to achieve the main research objective was to identify any new ideas, preliminary explore some possible hypothesis and provide strategy recommendations to the board. The research adopted both quantitative and qualitative designs to focus on understanding the values, attitudes and perceptions of investors, which is interpretive and inductive in nature. A holistic case study was the specific vehicle used to conduct the research. The research population was made up of all investors in different regions of the world. Given that the study specifically related to the Implats valuation relative to Amplats, the sampling was tailored to their common investors. Data was collected using a questionnaire; the likert five scale was used to design the questionnaire. The following recommendations were made as a result of the research. Implats should implement measures to build its value chain and attempt to move to a cost quartile not easy to replicate without significant investment and time. In the short term Implats needs to continue improving on its fundamental values whilst crafting a take over defence strategy. It also needs to improve on its investor relations program to robustly communicate its political risk management strategy. / Thesis (MBA)-University of KwaZulu-Natal, 2006.