Thesis (MBA)--Stellenbosch University, 2001. / ENGLISH ABSTRACT: This study describes a process used to determine critical success factors that are felt to be predictive of timely completion of projects within Kumba Resources. A comprehensive literature review and the knowledge of full time line and project managers who have had experience with projects were used to generate critical success factors that was felt to be crucial to timely completion of projects within Kumba Resources. Eleven items were discovered within Kumba Resources that relate well to the available literature on the subject. These were the personal skills of the project manager, project management skills, overly optimistic estimates to obtain project approval, organisational culture, vague and conflicting scope definition, no proper project planning, project control and visibility, no proper risk management communication management not up to standard, changes to orders and contracts took longer than planned and delays caused by poor project integration. In addition, these eleven items have been reduced to six factors with the use of factor analysis. The six factors found were (1) Organisational culture, (2) Technology management, (3) Contract management, (4) Autocratic behaviour, (5) Project design and development and (6) Role clarification. Of these six factors, only technology management proofed to be well managed within Kumba Resources. This study has provided the basis for developing an intervention through which the performance on project management within Kumba Resources will be improved. / AFRIKAANSE OPSOMMING: Hierdie studie beskryf die proses wat gevolg is om die kritieke suksesfaktore vir tydige voltooiïng van projekte binne Kumba Resources uit te lig. 'n Omvattende literatuurstudie en die kennis van voltydse projekbestuurders en lynbestuurders, wat ondervinding in projekbestuur het, is gebruik om die vraelys saam te stel. Hieruit is die kritieke suksesfaktore vir tydige voltooiïng van projekte binne Kumba Resources geïdentifiseer. Elf items het na vore gekom uit die studie wat baie goed vergelyk met die literatuur beskikbaar. Die elf items gevind in Kumba Resources is die persoonlike vaardighede van die projekbestuurder, die projekbestuur vaardighede van die projekbestuurder, oor optimistiese beramings om projekgoedkeuring te verkry, organisasie kultuur, 'n vaag of swak definisie van die omvang wat die projek behels, geen ordentlike risiko analises word gedoen, die bestuur van kommunikasie is nie op standaard nie, veranderings aan kontrakte en bestellings neem langer as beplan en vertragings word veroorsaak deur swak bestuur van projekintegrasie. Hierdie elf items is daarna saamgevoeg in ses faktore deur gebruik te maak van faktoranalise. Die ses faktore wat gevind is, is (1) Organisasie kultuur, (2) Tegnologie bestuur, (3) Kontrak bestuur, (4) Outokratiese gedrag, (5) Projek ontwerp en ontwikkeling en (6) Roluitklaring. Van die ses faktore blyk dit dat slegs tegnologie bestuur baie goed gedoen word binne Kumba Resources. Hierdie studie verskaf dus die basis en motivering vir die ontwikkeling van 'n interfensie om die prestasie in terme van projekbestuur binne Kumba Resources te verbeter.

Thesis (MBA)--Stellenbosch University, 2001. / ENGLISH ABSTRACT: Researchers at the Graduate School of Business of the University of Stellenbosch raised their concerns about the accuracy of inflation adjustment estimates. This led to research by Hanekom (1992), Marais (1992), Ozrovech (1992), Laack (1994) and an article by Hamman and Smit (1994). Hanekom, Marais, Ozrovech and Loock investigated alternative methods of calculating the average age of fixed assets for South African companies. They came to the conclusion that approximations of inflation adjustments by means of simplified formulas are inaccurate and should be discontinued. Alternative methods are time-consuming, data dependent and contain various assumptions that may lead to inaccurate results. Based on the findings and recommendations of the above-mentioned authors to develop company-specific inflation adjustment models, this study project will attempt to investigate the behaviour of the average age of fixed assets as calculated by the formula: Average age (year n) = Accumulateddepreciation (n) Depreciation(for year n) Various conditions that influence this specific calculation will be simulated in spreadsheet models. The behaviour of the approximated average age will then be explained by means of the results obtained from the spreadsheet simulations, as well as a mathematical formula that will be deducted from the simulated spreadsheet models. The understanding of the behaviour of the estimation of the average age of fixed assets and the conditions that influence this estimation might help to establish possible patterns that would assist with the development of companyspecific inflation adjustment models. / AFRIKAANSE OPSOMMING: Navorsers aan die Nagraadse Bestuurskool van die Universiteit van Stellenbosch het hulle twyfel uitgespreek oor die akkuraatheid van inflasieregstellingskattings, wat gelei het tot navorsing deur Hanekom (1992), Marais (1992), Ozrovech (1992) en Loock (1994) en 'n artikel deur Hamman en Smit (1994). Hanekom, Marais, Ozrovech en Loock het alternatiewe metodes ondersoek om die berekening van die gemiddelde ouderdom van vaste bates vir Suid Afrikaanse maatskappye te doen. Die slotsom was egter dat die berekening van die waardes met behulp van eenvoudige formules onakkuraat is en eerder gestaak moet word. Alternatiewe metodes is tydrowend, afhanklik van die beskikbaarheid van inligting, en vereis aannames wat tot moontlike onakkurate antwoorde kan lei. Na aanleiding van bogenoemde skrywers se gevolgtrekkings, en aanbevelings om maatskappy-spesifieke modelle te ontwikkel om inflasieaanpassings te doen, sal hierdie studie poog om die gedrag van die gemiddelde ouderdom van vaste bates soos dit bereken word deur die volgende formule, te ondersoek: Gemiddelde ouderdom (jaar n) = Opgehoopte waardevermindering (n) Waardevermindering (vir jaar n) Verskillende toestande wat die berekening beïnvloed sal deur middel van sigblad modelle gesimuleer word. Die gedrag van die geraamde gemiddelde ouderdom sal dan verduidelik word aan die hand van die sigblaaie sowel as 'n afgeleide wiskundige formule vir die berekening van die waarde. lndien die verskillende toestande en faktore wat die berekening van die gemiddelde ouderdom van vaste bates beïnvloed, verstaan en verduidelik kan word, kan moontlike patrone geïdentifiseer word wat sal help met die ontwikkeling van meer spesifieke modelle vir inflasie-aanpassings van maatskappye.

Thesis (MBA)--Stellenbosch University, 2001. / In the rapidly changing job environment, and the pressure for productivity, career management is becoming a required core competency for all career occupants. The writer has provided a performance management framework in which to understand the key role of career management, and then provided both theoretical and operational models for managing career choice and management optimally, from both an individual and an organisational perspective. Career management has for many years been an appendage to performance appraisal systems. With a steady move away from formal employment to employability, it is increasingly important that both individuals and organisations address this area if they are to get the best out of people, and if career occupants are to find optimal job satisfaction and make an optimal contribution.

Thesis (MBA)--Stellenbosch University, 2001. / ENGLISH ABSTRACT: The utilisation of human capital and its impact on organisational performance must rank as one of the key managerial concerns III South Africa. The message from international competitive studies is clear: corporations become competitive when people and practices change. The global market has exposed the lack of competitive strength and effectiveness of South African corporations. Against this background, managing complex organisations in the private and public sector remains a daunting, pervasive and urgent task. By focusing on issues of organisational behaviour and global competitiveness, the study aims to contribute to the development of competitive (effective) corporations in South Africa. It is important to keep in mind that the present investigation was an exploratory study attempting to add to the body of knowledge about competitiveness. It aimed to enhance existing studies on global competitiveness and organisational effectiveness and open up possibilities for new management strategies and interventions as well as further research. In particular, it builds on previous work on the impact of organisational behaviour on performance. An extremely important development in the study of corporate culture has been proof that that the normative structure (corporate culture) has a significant impact on the performance of an organisation. Because of this impact, corporate culture has to be regarded as one of the key success factors in any corporation. Corporate culture is however no end in itself, but must be regarded as a hermeneutical key (interpretative) to corporate performance. The success of the corporation takes precedence over all other aspects of the organisation, even over its culture. The framework of corporate culture and competitiveness links patterns of behaviour and management practices with underlying assumptions, beliefs and values. It provides a clear description of the integrative mechanisms and dimensions of corporate culture and the way in which they impact on competitiveness. These behavioural factors are key determinants of organisational performance because of the close link between patterns of behaviour and underlying core values and beliefs. The model also defines the elements (people, change, projects, control) that need to be managed, as well as the traits (adaptability and innovation, mission, involvement, consistency) of the culture which determines the performance of the corporation. In terms of the corporate culture and competitiveness framework, the management activity of developing a set of common or core values is therefore a good starting point for any culture intervention strategy aimed at enhancing competitiveness (performance). A shared system of beliefs, values and symbols widely understood by an organisation's members has a positive impact on their ability to reach consensus and carry out coordinated actions. This impact, as well as the nature of the culture of the corporation has to be understood by everybody in the organisation. It also has to assist them in making sense of corporate life in such a manner that it creates opportunities for everyone to impact on the performance of the corporation. / AFRIKAANSE OPSOMMING: Die bestuur van menslike hulpbronne en die impak daarvan op organisatoriese prestasie is een van die kern bestuursvraagstukke in Suid-Afrika. Die internasionale boodskap oor mededingendheid is duidelik. Organisasies se mededingendheid verander wanneer mense en praktyke verander. Oor die algemeen vaar Suid-Afrikaanse organisasies redelik swak in die internasional mark weens 'n gebrek aan kompeterendheid en effektiwiteit. Dit is duidelik dat in hierdie lig, die bestuur van komplekse organisasies 'n uitdagende ontwykende maar dringende uitdaging aan bestuur is. Deur op organisatoriese gedrag en internasionale kompeterendheid te fokus, poog die studie om 'n bydrae te maak tot die ontwikkeling van kompeterende (effektiewe) organisasies in Suid-Afrika. Dit is belangrik om in gedagte te hou dat die studie van ondersoekende aard was en om daardeur verdere insig in kompeterendheid te verkry. Dit poog om by bestaande studies oor internasionale kompeterendheid en organisatoriese doeltreffendheid aan te sluit ten einde nuwe bestuursintervensies en strategië te ontwikkel en terselfdertyd rigting vir verdere navorsing aan te dui. Dit bou in besonder op vorige studies oor die impak van organisatoriese gedrag op doeltreffendheid. 'n Belangrike ontiwkkeling in die studie van korporatiewe kultuur was die bevinding dat die normatiewe struktuur (korporatiewe kultuur) 'n insiggewende impak op die prestasie van organisasies het. As gevolg van hierdie verhouding, moet korporatiewe kultuur as een van die sleutel sukses faktore in enige organisasie beskou word. Korporatiewe kultuur bly egter altyd slegs 'n middel tot die bereiking van doelwitte en nooit as die doel self nie. Dit moet daarom beskou word as 'n hermeneutiese (verklarende) sleutel tot organisatoriese doeltreffendheid. Die prestasie van enige organisasie moet voorkeur geniet bo all ander aspekte van die organisasie, selfs die korporatiewe kultuur. Die raamwerk van korporatiewe kultuur en doeltreffendheid verklaar die interaksie tussen die onderafdelings van kultuur en die organisasie se doeltreffendheid. Die aannames, oortuigings en waardesisteme van 'n organisasie vorm die basis van 'n stel bestuurspraktyke en gedragspatrone. Hierdie gedragspatrone is sleutelfaktore tot organisasie doeltreffendheid as gevolg van die noue verband tussen die gedrag en die onderliggende waardesisteem. Die raamwerk identifiseer die elemente (mense, verandering, projekte en kontrole) as die elemente wat bestuur moet word, sowel as vier meganismes (betrokkenheid, aanpasbaarheid en vernuwing/innovasie, konsekwentheid en doelgerigtheid/rigtingaanwysing) van kultuur wat die doeltreffendheid van die organisasie bepaal. Korporatiewe kultuurintervensie strategië, gemik op prestasieverbetering, behoort in terme van die korporatiewe kultuur en doeltreffendheidsraamwerk by die ontwikkeling van 'n stel gedeelde of kernwaardes te begin. 'n Gedeelde sisteem van oortuiginge, waardes en simbole wat deur alle lede van die organisasie verstaan en aanvaar word, sal 'n sterk en positiewe uitwerking op die vermoë om konsensus en gekoordineerde optrede te bereik, hê. Hierdie uitwerking asook die aard van die kultuur van die organisasie moet deur almal in die organisasie verstaan word. Dit moet hulle ook in staat stel om die organisasie se keuse van prioriteite te verstaan en daardeur geleenthede vir almal te skep om 'n impak op die doeltreffendheid van die organisasie te hê.

Thesis (MBA)--Stellenbosch University, 2001 / ENGLISH ABSTRACT: This focus of this study is to analyse trends between three different performance variables for all listed industrials on the Johannesburg Stock Exchange. The three variables are earnings per share, headline earnings per share and operating cash flow per share. Sample A represents data from 1974 to 1999, and Sample B from 1990 to 1999. There are many companies that still do not report headline earnings per share in their financial reports as at the end of their financial year for 1999. A list of these companies is attached as Appendix A. A total of 21 different combinations of the variables were tested for correlations. From this investigation three significant relationships were noted. Firstly, there is a high correlation between earnings per share and operating cash flow per share. The pooled result from 1974 to 1999 is 0,636, that confirms a positive relationship between the two variables. Secondly, the result of the same two variables from the Sample B dataset also shows a high correlation of 0,601 (pooled result). Thirdly, there is a very strong negative pooled result of -0,897 when analysing the difference between (EPS-HEPS) and (HEPS-CFPS). An interesting observation was that although individual yearly results were showing high correlations, the pooled results did not reflect the same tendency. Validated findings attained through statistical testing in this study will in future allow analysts to predict the behaviour of one variable based on the performance of another variable. / AFRIKAANSE OPSOMMING: Die fokus van hierdie studie is om tendense tussen drie verskillende prestasieveranderlikes vir alle genoteerde nywerheidsaandele op die Johannesburgse Effektebeurs te ontleed. Die drie veranderlikes is verdienste per aandeel (VPA), wesensverdienste per aandeel (WVPA) en kontantvloei uit bedryfsaktiwiteite per aandeel (KBAPA). Steekproef A verteenwoordig data vanaf 1974 tot 1999 en Steekproef B vanaf 1990 tot 1999. Teen die einde van 1999 was daar steeds maatskappye wat nie die wesensverdienste per aandeel in hulle finansiële verslae rapporteer nie. 'n Lys van hierdie maatskappye is aangeheg as "Bylae A". In totaal is 21 verskillende kombinasies van die veranderlikes getoets vir onderlinge afhanklikheid. Die ondersoek het drie betekenisvolle verhoudings gelewer. Eerstens is daar 'n hoë onderlinge afhanklikheid tussen verdienste per aandeel en kontantvloei uit bedryfsaktiwiteite per aandeel. Die saamgevoegde resultate vanaf 1974 tot 1999 is 0,636, wat 'n positiewe verhouding tussen die twee veranderlikes bevestig. Tweedens toon die resultate van dieselfde twee veranderlikes van Steekproef B se datastel ook 'n hoë onderlinge afhanklikheid van 0,601 (saamgevoegde restultate). Derdens is daar 'n baie sterk negatiewe resultaat van -0,897 wanneer die verskil tussen (VPA-WVPA) en (WVPA-KBAPA) ontleed word. 'n Interessante waarneming was dat, alhoewel individuele jaarlikse resultate hoë onderlinge afhanklikheid getoon het, die saamgevoegde resultate nie dieselfde neiging weerspieël het nie. Geldige bevindinge, verkry deur statistiese proefneming in hierdie studie, sal analiste in die toekoms toelaat om die gedrag van een veranderlike te voorspel gebaseer op die prestasie van 'n ander veranderlike.

Thesis (MBA)--Stellenbosch University, 2001. / ENGLISH ABSTRACT: The objective of this study is to determine the optimum number of shares to be included in a well-diversified portfolio of small-capitalised companies listed on the Johannesburg Securities Exchange. A previous study by Jordan (1998) on South African companies falling in this category found that at least 20 shares should be included in a well-diversified portfolio. Neu-ner and Firer (1997) conducted a similar study of naïve diversification on all shares listed on the JSE with findings that at least thirty shares should be included in a well-diversified portfolio, which concurred with the findings of the study done by Statman (1997) on the NYSE. Findings of numerous studies conducted in the USA yielded different results with suggestions that between eight and twenty random selected stocks make a welldiversified portfolio. Fama and French (1992) conducted a research on risk and return with findings that size of a company is a better proxy for risk than beta. Small companies tend to produce returns that are greater than the returns from portfolios of larger companies. The research for determining the number of shares to be included in a portfolio of small company shares was conducted using naïve or random diversification and efficient diversification based on Markowitz efficient frontier. The results of the study indicate that random diversification of a portfolio in small company shares requires between twenty and thirty shares for a portfolio to be well diversified. The findings also showed consistency for the different investment periods investigated in terms of risk reduction. The research findings concur with the studies done by Statman, and Neu-ner and Firer, which suggest that a well-diversified portfolio should contain approximately thirty shares. The efficient diversification or Markowitz diversification resulted in fewer shares included in a well-diversified portfolio. However the optimum portfolio depends on the investors' preference as to the trade-off between risk and return. Efficient diversification is primarily based on the degree of covariance between asset returns in a portfolio. The results found using this technique indicate that a well-diversified portfolio should have approximately sixteen shares. The CAPM TUTOR programme used for efficient diversification conducted the research on an ex ante basis. / AFRIKAANSE OPSOMMING: Die doel van hierdie studie is om die optimale getal aandele van 'n goed gediversifiseerde portefeulje wat saamgestel is uit klein gekapitaliseerde maatskappye wat op die Johannesburgse Effektebeurs noteer is, te bepaal. 'n Vorige studie deur (Jordan, 1998) van Suid-Afrikaanse maatskappye wat in hierdie kategorie val, het bevind dat ten minste 20 aandele ingesluit behoort te word in 'n goed gediversifiseerde portefeulje. Neu-ner en Firer (1997) het 'n soortgelyke studie onderneem van naïewe diversifikasie van al die aandele wat op die Johannesburgse Effektebeurs noteer is. Hulle het bevind dat ten minste 30 aandele ingesluit behoort te word in 'n goed gediversifiseerde portefeulje, wat ooreenstem met die bevindings van die studie deur Statman (1997) oor die New Yorkse Effektebeurs. Bevindings van talle studies wat in die VSA gedoen is, het verskillende resultate opgelewer en dui daarop dat tussen agt en 20 lukraak geselekteerde aandele 'n goed gediversifiseerde portefeulje verteenwoordig. Fama en French (1992) het navorsing gedoen oor risiko en opbrengs, en het bevind dat die grootte van 'n maatskappy 'n beter aanduiding vir risiko is as beta. Klein maatskappye neig om opbrengste te lewer wat groter is as die opbrengs van portefeuljes wat bestaan uit groter maatskappye. Navorsing om die getal aandele te bepaal wat ingesluit behoort te word in 'n portefeulje wat bestaan uit aandele van klein maatskappye, is gedoen deur gebruik te maak van naïewe of lukrake diversifikasie en doeltreffende diversifikasie, gebaseer op die Markowitz doeltreffendheidsfront. Die resultate van hierdie studie dui aan dat lukrake diversifikasie, van 'n portefeulje wat uit aandele van klein maatskappye bestaan, tussen 20 en 30 aandele vereis vir die portefeulje om goed gediversifiseerd te wees. Hierdie bevindings het ook gedui op konsekwentheid vir die verskillende beleggingsperiodes wat ondersoek is in terme van risikoverlaging. Hierdie navorsingsbevindings stem ooreen met die studies van Statman, Neu-ner en Firer, wat daarop dui dat 'n goed gediversifiseerde portefeulje uit ongeveer 30 aandele behoort te bestaan. Die doeltreffende diversifikasie, of Markowitz diversifikasie, het tot gevolg gehad dat minder aandele ingesluit is in 'n goed gediversifiseerde portefeulje. Die optimale portefeulje word egter bepaal deur beleggersvoorkeur ten opsigte van die verrekening tussen risiko en opbrengs. Doeltreffende divesifikasie is hoofsaaklik gebaseer op die mate van kovariansie tussen bate-opbrengs in 'n portefeulje. Die resultate dui daarop dat deur hierdie tegniek te gebruik, 'n goed gediversifiseerde portefeulje ongeveer 16 aandele moet insluit. Die CAPM TUTOR-program wat gebruik is vir doeltreffende diversifikasie, het die navorsing op 'n ex ante (vooruitgeskatte ) basis gedoen.

Thesis (MBA)--Stellenbosch University, 2001. / A database on South African industrial companies listed on the Johannesburg Stock Exchange called FIN01 was created by the Graduate School of Business (USB), University of Stellenbosch, to capture the various companies' financial data from 1970 to date. FIN01 database is being updated to capture financial data of listed companies from other African countries. Against the background, the purpose of the study project was to update the University database (FIN01) by creating a database for listed Botswana Stock Exchange companies. The creation of the database required gathering and analysis of information of the various Botswana companies. Before the information from the Annual Reports could be captured into the main database, it was captured into Excel created spreadsheets. This information was captured under the respective workbooks as created for the cash flow statements, income statements and balance sheet items. To conform to the requirements of the FIN 01 database, the Botswana companies were allocated codes. The summarised data was then transferred to the main USB database (FIN01). A thorough analysis on performance of the various companies was then carried out. This was done through trend analysis, common size analysis and ratio analysis. Problems were encountered during the process of data capturing and analysis. These included unavailability of Annual Reports, various different reporting formats and the standard Excel spreadsheets provided. The various companies' inconsistency in reporting was further reflected in the non-reporting of turnover and share prices by most of the listed companies. However, the creation and incorporation of the listed Botswana companies was a success. It is recommended that the project be continued as an ongoing process. The information should be updated on a yearly basis. Companies should be encouraged to continue sending the Annual Reports to the University. The companies should in return get regular feedback on key performance indicators as reflected in the database.

Thesis (MBA)--Stellenbosch University, 2001. / ENGLISH ABSTRACT: Both the income statement and the cash flow statement of a company provide useful information to the user of financial statements. The net profit after tax in the income statement and the cash from operating activities in the cash flow statement have basically the same transactions as source, however they still differ, because of timing differences between the accrual of income and expenses and the cash receipts or payments thereof, as well as the inclusion of items in the net profit after tax that rather forms part of cash flow from investment activities. A growth in turnover usually coincides with an increase in non-cash working capital. When the company is expanding at too high a rate, too much of his cash resources are taken up by the increase in non-cash working capital and that could lead to cash flow problems. This trend can be plotted on a graph, with a growing net profit after tax and a decline in the cash flow from operating activities. The two lines move away from each other when there is a significant difference between the net profit after tax and the cash flow from operating activities. This study tries to measure the angle between the two lines where they reach the danger zone. Users of financial statements will be able to use this as an indicator of companies that are going to be in cash flow trouble over the next period. In order to measure this angle when the company reaches the danger zone, 365 listed industrial companies were studied. The net profit after tax and the cash flow from operating activities were both transformed into an index, with cash flow relative to net profit. The difference between the index strings was calculated. This study only focuses on companies with an index-difference where the cash flow from operating activities is smaller than the net profit after tax. An index-difference of -2 was identified as the possible danger zone. In order to substantiate this figure, companies with an index-difference of -2 or larger negative that still were listed at the time of the study were examined to find the reason for the difference. Items that do not form part of the cash flow from operating activities cannot be used in the calculation of the index-difference, because it will generate a permanent difference between the net profit after tax and the cash from operating activities. Companies that have a huge negative index-difference only because of such items are not in the danger zone. 33 companies with an index-difference of -2 or more negative were identified. Focus was placed on the thirteen companies that did not have losses and that were still listed at the time of the study. Six of these companies were removed from the danger list after the individual examination, because of other reasons for the difference rather than an increase in non-cash working capital. That leaves seven companies that are shown by this study to be in danger to get into serious cash flow trouble in the foreseeable future. A few additional companies were examined which led to another six companies being placed on the danger list. Only time will tell whether these companies do get into serious financial difficulty. If so, the index-difference can be calculated as an indicator of the point when a company, regardless of a strong growth in turnover, and sometimes because thereof, does not generate enough cash from operating activities to finance the growth in non-cash working capital. Unless the company has a holding company that is willing to pour more cash into the company, or unless the company can do a successful rights issue, it will find itself in the position where it cannot finance the expansion and also cannot obtain more additional funding. / AFRIKAANSE OPSOMMING: Beide die inkomstestaat en kontantvloeistaat van 'n maatskappy verskaf nuttige inligting aan gebruikers van finansiële state. Die netto wins na belasting uit die inkomstestaat en die kontantvloei uit bedryfsaktiwiteite uit die kontantvloeistaat het basies dieselfde transaksies as bron, maar verskil tog, hoofsaaklik vanweë tydverskil in die erkenning van die toevalling van inkomste en uitgawes en die kontantontvangstes en -betalings daarvan, asook vanweë die insluiting van items in die netto wins na belasting wat eerder deel vorm van die kontantvloei uit investeringsaktiwiteite. Wanneer die maatskappy 'n groei in omset toon, gaan dit gewoonlik gepaard met 'n toename in nie-kontant bedryfskapitaal. Wanneer die maatskappy te vinnig groei, word te veel van sy kontantbronne vasgevang in die verhoogde nie-kontant bedryfskapitaal en dit kan lei tot kontantvloeiprobleme. Hierdie tendens kan op 'n grafiek uitgebeeld word met 'n stygende netto wins na belasting, terwyl die kontantvloei uit bedryfsaktiwiteite daal. Wanneer daar 'n aansienlike verskil tussen die netto wins na belasting en die kontantvloei uit bedryfsaktiwiteite is, beweeg die twee lyne uit mekaar. Dié studie poog om die grootte van die hoek tussen die twee lyne wanneer die gevaarsone bereik word, te bepaal. Dit kan dan deur gebruikers van die finansiële state as 'n aanduiding gebruik word om te voorspel watter maatskappye oor die volgende tydperk kontantvloeiprobleme sal hê. Ten einde die grootte van die hoek te meet waar die maatskappy die gevaarsone binne beweeg is 365 genoteerde industriële maatskappye se data bestudeer. Die netto wins na belasting en die kontantvloei uit bedryfsaktiwiteite is beide as 'n indeks uitgedruk, laasgenoemde relatief tot eersgenoemde. Die verskil tussen die twee indeks-reekse is bereken, naamlik die indeks-verskil. Die studie is slegs gefokus op maatskappye met 'n indeks-verskil waar die kontantvloei uit bedryfsaktiwitete kleiner is as die netto wins na belasting. 'n Indeks-verskil van -2 is geïdentifiseer as die moontlike gevaarsone. Ten einde hierdie syfer te steun is die maatskappye wat ten tye van die navorsing steeds genoteer is en 'n indeks-verskil van -2 of groter negatief het, individueel ondersoek om die rede vir die indeks-verskil vas te stel. Items wat op 'n ander plek in die kontantvloeistaat as in die bedryfsaktiwiteite hanteer word, kan nie in ag geneem word in die berekening van die indeks-verskil nie, aangesien dit 'n permanente afwyking tussen die netto wins na belasting en kontant uit bedryfsaktiwiteite sal veroorsaak. Maatskappye wat dus bloot as gevolg van sodanige items 'n groot negatiewe indeks-verskil het, val nie in die gevaarsone nie. 33 maatskappye is geïdentifiseer met 'n indeks-verskilvan -2 of groter negatief. Daar is gefokus op die dertien maatskappye wat nie verliese gely het nie en steeds ten tye van die afhandeling van die studie genoteer was. Ses van hierdie maatskappye is tydens die individuele ondersoek van die gevaarlys gehaal aangesien daar ander redes vir die groot indeks-verskil was as 'n toename in nie-kontant bedryfskapitaal. Dit laat dan sewe maatskappye wat deur dié studie aangedui word as om moontlik finansiële probleme op te tel binne die afsienbare toekoms. 'n Paar addisionele maatskappye is ondersoek, waarna 'n verdere ses op die gevaarlys geplaas is. Slegs die tyd sal leer of die betrokke maatskappye wel in 'n finansiële verknorsing beland. Indien wel, kan hierdie indeks-verskil bereken word en as 'n aanduiding gebruik word van die punt wanneer 'n maatskappy, in baie gevalle ten spyte van goeie groei in omset, maar dan ook juis as gevolg daarvan, nie genoeg kontant uit bedryfsaktiwiteite genereer om die groei in nie-kontant bedryfskapitaal te finansier nie. Tensy die maatskappy 'n houermaatskappy het wat bereid is om nog kontant te stort in die maatskappy, of tensy die maatskappy 'n suksesvolle regte-uitgifte kan maak, vind hy homself in die posisie dat hy nie die uitbreiding kan finansier nie en dat hy ook nie meer addisionele finansiering kan bekom nie.

Thesis (PhD (Business Management))--University of Stellenbosch, 2010. / Customer Relationship Management (CRM) is not a new topic, but the advent of technology based CRM solutions has enabled companies to deal better on an individual level and more efficiently with their large customer base. Seeing the benefits of this competitive advantage many companies have implemented a CRM solution but with the result that many of them have failed to be successful. The problem is that these companies often do not know why they were not successful and other companies will make the same mistakes if these failures are not recognized. There is a great deal of literature and research analysing this phenomenon but they all focus mainly on detailed CRM issues and how they could be performed better. They do not take into account that CRM is a complex topic and that many reasons for failure interact with each other. Based on the need of many companies to implement CRM, the goal of this research is to provide a CRM insight perspective and a strategy to implement CRM more successfully. In contrast to existing CRM research, this study investigates twenty-one reasons for CRM failure in three knowledge areas and explains why each one could threaten the success of a CRM implementation. The first area determines the danger of every risk based on the likelihood of appearance and its potential to fail the complete CRM solution. The second area identifies when these risks are most likely to appear for the first time during a CRM project life cycle. The third area examines all relationships between the twenty-one CRM risks and how they influence each other. It is concluded that every CRM implementation approach will fail to be successful when problems are only addressed once they become visible. It is not possible to solve every CRM problem at the moment it appears. Many issues during the implementation of CRM have to be met before they become a problem because they influence each other and lead to barriers that could result in a complete CRM failure. Based on this perception and the research findings, which included 106 of the top 500 companies worldwide, this study develops a CRM strategy framework including a systemic CRM perspective for businesses.

Thesis (PhD)--Stellenbosch University, 2011. / Technology is a critical component in modern society. Management of Technology (MOT) should be a major focus of management studies. At present the status of MOT is much less than it should be. Part of the reason is that there is little consensus about the body of knowledge for MOT. This can be traced down to as far as an inadequate consensus about the very nature of technology itself. There is a need for a simple and elegant conceptual foundation. There is a need for an accepted paradigm to govern MOT. The paradigm discourse initiated by Thomas Kuhn allows for a comprehensive frame of reference about theory contestation and about the attributes required from a contesting theory to achieve the ultimate status of a paradigm. In order to help create a coherent and streamlined conceptual foundation for MOT, this research evaluates the functionality grid as a paradigm. To realise this goal, this study first assesses the functionality grid’s compliance with the theoretical requirements of a paradigm, and secondly its compliance with the empirical requirements of a paradigm. The theoretical test uses a newly created format, the paradigm template, to establish the necessary criteria. The functionality grid is then subjected to a critical review using the said criteria. It is found that it meets the requirements of a valid paradigm. For measurement of empirical requirements, Kuhn’s own criteria are used. This second part of the study involves three practical exercises to examine the practical descriptive power of the functionality grid, and its ability to help first with the formation of a technology attuned mindset of participants, second with the improvement in technological knowledge and third with an increase in the technological literacy of participants. The outcomes of these tests are positive as well. The dissertation concludes that the functionality grid would be a viable paradigm to serve as a guide for the further development of MOT. The functionality grid becomes confirmed as a paradigm for MOT, because it contains all the attributes to serve as a coherent and streamlined conceptual structure for this discipline. Given this outcome, it is recommended that more effort be invested to understand, promote and popularise the functionality grid; and the various analytical frameworks derived from it. It is recommended that it becomes an explicit part of the book of knowledge for MOT and that it constitutes the basis for an educational curriculum to be shared by every MOT professional and student.