This research was an attempt to identify those financial ratios which are the best predictors of impending failure in the food service industry. This study had two major objectives. The first was to determine which financial statement items and ratios show the greatest magnitude of difference between failed and nonfailed restaurants. The second objective was to determine which ratios show the most significant decline prior to failure and are therefore the best predictors of impending failure. The methodology employed was a univariate approach based upon the work of William H. Beaver (1966, 1968). Data was gathered from the financial statements of failed, nonfailed and total failure restaurants in three food service organizations. A methodology for classifying restaurants as failed or nonfailed is also presented. Data analysis confirmed that differences in financial statement items and ratios do exist between nonfailed and total failure restaurants. Trend analysis showed that certain ratios give more indication of decline prior to failure than others. This research also showed that graph analysis as well as a comparison of each month with the same month from the previous year can be used to predict impending failure. The implications of these findings to a food service manager and the strengths and weaknesses of this study are discussed. Suggestions for future research are also given. / Master of Science

LL.M. (Commercial law) / This dissertation seeks to explore the fundamental differences between the rights of employees in terms of windiqg-up procedures and that of business rescue proceedings. I will be specifically looking at each procedure, winding-up and business rescue proceedings, and the effect that each of these procedures have on the rights of employees. In terms of the analysis of the procedures, I will be looking at the history of both insolvency law and labour law, as well as a look at the old Companies Act of 1973 and specifically at judicial management. By looking at the history we can gain an outlook on the problems we encountered then and how they can be improved today. I will then move on to look specifically at the specific proceedings of winding-up in Chapter 14 of the old 1973 Act and Chapter 6 of the new 2008 for the provisions on business rescue. Through analysing the proceedings I will also look at the legal position in other jurisdictions on the specific matter into account. Specifically I will look to the UK and Australia. Additionally, I will be looking at the International Labour Organisations position on employees' rights in terms of insolvency law. The specific rights of employees that I will be considering are employees rights to commence proceedings, their right to be informed, their right to be consulted, the effect on their employment contracts, retrenchments, claims which they may have against the company as well as the specific rights of employees in the case of a transfer of the business. In analysing all of the above aspects, I will come to conclude from my findings that the rights afforded to employees under business rescue and Chapter 6 of the 2008 Act are extremely beneficial to the employees and are so extensive that they cover almost all rights of employees. In comparison with the rights afforded to employees' in terms of winding-up procedures under Chapter 14 of the 1973 Act these rights are stiII beneficial to employees but they are not as extensive. Both procedures afford employees a significant amount of protection.

Thesis (MBA)--Stellenbosch University, 2001 / ENGLISH ABSTRACT: The subject of prediction of business failure from an academic point of view dates back to the turn of the century with the development of a single ratio, the current ratio, as an evaluation of credit-worthiness. Subsequently studies conducted have become complex using different statistical techniques and more than one variable to predict failure. The challenge in these studies has been to establish a reliable model to predict failure. The aim of this report was to find out which financial factors best predicted failure in the South African environment using a matched study by refining some elements of the study conducted by Court (1993). The data used was similar to that of Court (1993), which was independently obtained from the Bureau of Financial Analysis of the University of Pretoria. The variables used in the study were then computed from this raw data. The variables were then imputed into the stataΤΜ statical software package to run a conditional logistic regression model. As a result of a small sample size and a substantial number of missing variables in the sample size, the study did not reveal an accurate indication of the important variable. It was also found that with the instability and general complexity of conditional logistic regression the study need not have been a matched study. The recommendation is that future research be done with a larger sample size using the same methodology. It is also recommended that the data include non-financial variables. / AFRIKAANSE OPSOMMING: Die voorspelling van besigheidsmislukkings as 'n akademiese onderwerp, dateer vanaf die begin van die vorige eeu met die ontwikkeling van 'n enkele verhouding, die bedryfsverhouding, as maatstaf van kredietwaardigheid. Die toepassing van statistiese tegnieke en inkorporasie van meerdere veranderlikes het aan verdere studies 'n hoë mate van kompleksiteit verleen. Die gevolglike uitdaging was om 'n betroubare model te ontwikkel om besighiedsmislukkings akkuraat te kan voorspel. Die doel van hierdie verslag is om aan te dui welke finansiele faktore mees gepas sal wees om besigheidsmislukkings in die Suid Afrikaanse omgewing te voorspel. Die verslag gee weer die bevindinge van 'n gepaarde studie wat gegrond is op 'n verfyning van sekere elemente soos geneem uit die Court studie van 1993. Die data gebruik, is baie soos die wat die Court studie onderlê en is onafhanklik verkry vanaf die Bureau vir Finansiele Analise (Universiteit van Pretoria). Die veranderlikes wat in die studie gebruik is gebaseer op hierdie rou data en is ingesleutel en verwerk deur die stataΤΜ statistiese sagteware program na 'n kondisionele, logiese regressie model. As gevolg van 'n klein steekproef en 'n beduidenswaardige aantal ontbrekende veranderlikes in hierdie steekproef, kon die studie nie 'n belangrike veranderlike met akkuraatheid aandui nie. Dit is ook bevind dat die onstabiliteit en algemene kompleksiteit van die kondisionele, logiese regressie model die gebruik van 'n gepaarde studie onnodig gelaat het. Die aanbeveling is dat verdere navorsing dieselfde metodologie sal toepas op 'n groter steekproef. Dit word ook aanbeveel dat nie-finansiele veranderlikes by die data ingesluit word.

by Lau Chun Man, Yeung Kwok Ching. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1990. / Bibliography: leaves [86-91] / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / LIST OF TABLES --- p.v / ACKNOWLEDGMENTS --- p.vi / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- BACKGROUND --- p.6 / The Origin Of Failure Prediction --- p.6 / Classical Works --- p.7 / Approaches In Quantitative Prediction Model --- p.8 / Approaches In Qualitative Prediction Model --- p.10 / Purpose Of The Researches --- p.12 / Practical Applications Of The Models --- p.13 / Problems In Prediction Models --- p.14 / Chapter III. --- PREVIOUS RESEARCH FINDINGS --- p.15 / Studies Of Different Researchers --- p.15 / Researches In Different Countries --- p.26 / Chapter IV. --- METHODOLOGY --- p.32 / Multiple Discriminant Analysis (MDA) --- p.32 / Sample Selection --- p.34 / Prediction Variables Selected --- p.39 / Validation Of The Model --- p.39 / Chapter V. --- PRESENTATION AND ANALYSIS OF THE RESULTS --- p.42 / Interpretation Of Computer Results On 1-Year Statement Prior Bankruptcy --- p.42 / Relative Importance Of The 11 Predictive Variables --- p.44 / Explanation Of Financial Distress In Terms Of The 3-Variables Function --- p.47 / Classification And Validation --- p.49 / Comparison Between The Discriminant Functions Generated From 1to 3 Year Statements Prior Bankruptcy --- p.51 / Chapter VI. --- LIMITATIONS AND RECOMMENDATIONS --- p.62 / Limitations --- p.62 / Recommendations --- p.66 / Chapter VII. --- CONCLUSION --- p.69 / APPENDIX / BIBLIOGRAPHY

Thesis (M. Tech. (Business Administration)) -- Central University of Technology, Free State, 2014 / This exploratory study seeks to contribute to the theoretical and empirical understanding of the transition of small businesses from the informal to the formal sector. It builds on the role of the informal sector as “engines” for economic and socio-cultural development. Using selected businesses in the Mangaung area of the Free State province as case studies, this study investigates the motives for transition of informal businesses to the formal sector in South Africa, challenges encountered in the process of formalisation and the coping strategies relied upon to deal with challenges encountered in the process of formalisation. Key indicators were identified from the literature and were further developed for investigation. A qualitative approach was used for the collection of data from selected transited businesses in the Bloemfontein area using semi-structured interviews. Findings from the study suggest that the decision by small business owners to formalise is motivated by their desire to grow and expand their businesses; access to proper banking services; and to access government contracts and tenders. The results also reveal that the quest for growth is however hindered by long queues endured by business applicants during the process of formalisation; lack of adequate and relevant information on the process of formalisation; coupled with the lack of government support for informal businesses’ transitioning to the formal sector. Findings further revealed that adequate information on the process of formalisation and self-trust are key coping mechanisms needed by small business owners to successfully progress/ transit to the formal sector. Based on these findings, the study recommends that government both provincial and national play a more proactive role in regulating the informal economy by creating an environment conducive for their growth and development, and facilitating their transition to the formal sector. Informal small business owners also must be provided with information on the process of formalisation and of the existing government structures put in place to support businesses in their transition phase.

Submitted in fulfillment of the requirements for the degree of Masters in Business Administration, Business Studies Unit, Durban University of Technology, Faculty of Commerce, 2008. / It is estimated, that 90% of small businesses in South Africa fail within the first two years of their operation. The South African Government has improved business support services to small businesses. However, it has called on all South Africans to become involved in supporting small businesses and not to leave this responsibility to a single role player. Improving individual entrepreneurial capabilities should therefore be a focus area for all stakeholders involved in the promotion of entrepreneurship in South Africa. Changes brought on by growth, competition and many other factors, frequently require businesses to quickly identify alternatives, for driving significant improvements in their businesses. Business assessment tools generally provide a framework to assist business leaders to review the operations of their businesses. It was against this background that this research study was undertaken. The main aim of this research study was to develop a guide which can be used to assess small businesses. This study identified and evaluated six business diagnostic tools currently used nationally and internationally. The information gathered from evaluating these assessment tools were verified through discussions with five expert business practitioners who have relevant experience and knowledge on assessment tools. A self – assessment can be defined as a comprehensive, systematic and regular review of an organization‟s activities and results. Of the six assessment tools evaluated, it was found that the Baldrige Quality Programme, best satisfied the research questions, in terms of applicability of content, procedures and effective administration of diagnostic tools. The guide for self - assessments for small businesses was therefore, developed by using the Baldrige Quality Programme as a benchmark. This research study demonstrated, by means of an exploratory case study methodology, that self - assessment diagnostic tools do have a critical role to play in improving entrepreneurial and organizational performance of small businesses. Through the use of the self - assessment guide, developed in this study, entrepreneurs have an opportunity to take an integrated approach towards the improvement of business leadership, management and general business capabilities. This self - assessment guide fully involves the small business owner in the planning, implementation and monitoring phases of operating his or her business. There is also an element of skills transfer designed into the administration aspects of the tool, as guidelines are included in the tool, where possible. The researcher strongly feels that the use of this self - assessment tool can contribute to enhancing the success rate of small businesses in South Africa.

Thesis (MBA)--Stellenbosch University, 2006. / ENGLISH ABSTRACT: Information technology systems are an integral part of many sectors of business and the application of information technology in new sectors of business is increasing continually. Businesses believe that by applying information technology systems in their business processes they will ultimately improve on the profits through increased operational efficiency, reduction of costs and improved ability to make informed decisions. However implementing an information technology system is usually a complex affair involving the technology supplier, client organisation and other stakeholders. The common method of implementing information technology systems is to set up a project in an attempt to manage the cross organisational and cross departmental issues as best as possible. Industry reports that the success of information technology project implementation is low. This study project has analysed 16 sources of literature pertaining to failures in information technology projects, in order to ascertain how the various authors define a project failure and whether project management failure is a major contributor to these failures. Also to examine areas within project management which are deemed to make the most significant contribution to project failure. The study concludes that most of the authors examined define project failure in terms of project management criteria, being cost, time and function (quality). Furthermore it concludes that project management failure is a significant factor in information technology project failure and that the facets of project management failure encountered with information systems implementation projects are not that different from other forms of projects. The main contributing factors being lack of executive support, lack of business case or user requirements, lack of project management expertise, lack of planning, lack of user involvement and changing requirements. The study recommends that organisations need to be aware of the cross functional and cross organisational requirements of information technology project management and that all levels of management in stakeholder organisations need to have the relevant knowledge and experience to deal with these requirements. / AFRIKAANSE OPSOMMING: Inliglings legnologie slelsels inlegrale uil menigle besigheids seklore en die loepassing daarvan (ITS) in nuwe seklore voorldurend Besighede mel loepassing van ITS in hulle besigheids prosesse dil aanleiding sou gee 101 die graei doellreffenheid, die afname in bedryfskosle en ook verbelerde besluitneming . Die daarslelling van 'n ITS is gewoonlik 'n baie moeilike proses wal onder andere insluil die verskaller van legnologie, die klienlorganisasie asook ander deelnemers. Die algemene melode van implemenlering van ITS kan geskied deurmiddel van 'n projek in die poging om kruisorganisasie en kruisdeparlemenlele funksies/werkings Ie beharlig. Terugvoering van bedryf dui aan dal die implemenlerings sukses van inligling legnologie projekle eintiik baie laag is. Hierdie sludie hel in lolaal lileraluur mel belrekking 101 inliglings legnologie projekle, ontieed om sodoende Ie bepaal hoe verskeie skrywers 'n projek mislukking definieer en of die mislukking projek besluur enigsins 'n bydraende faklor kon wees. Asook die ondersoek van areas binne die beslek van projek besluur wal wei 'n noemenswaardige inwerking kon he 101 die mislukking van projekle. iv Opsemming Inligtings tegnologie stelsels (ITS) maak 'n integrale deel uit van menigte sektore toepassing sektore is voortdurend aan die groei. 8esighede glo met die toepassing prose sse dit tot greei van wins. Laasgenoemde as gevolg van verhoogde bedryfs doeltreffenheid, bedryfskoste verbeterde vermoens vir insiggewende besluitneming. daarstelling wat insluit verskaffer tegnologie, klientorganisasie metode implementering kruisdepartementele te behartig . dat implementerings in li gting tegnologie projekte studie het totaal 16 literatuur bronne, met betrekking tot die faal/mislukking van inligtings tegnologie projekte, te van bestuur faktor bestek bestuur wat tot projekte. As gevolg van die navorsing kom hierdie studie tot die slotsom dat skrywers projek-mislukking definieer in terme van projek bestuur kriteria wat 5005 volg lui; koste, tyd en funksie (gehalte). Verder is ook gese dat projek bestuur mislukking 'n groot bydraende faktor uitmaak aangaande inligtings tegnologie projek- mislukking en dat faseUe van projek bestuur mislukking gesien met inligtings stelsel implementering projekte, nie te vee I verskil van ander vorms van projekte nie. Die hoof bydraende faktore kan toegeskryf word aan die gebrek van uitvoerende bestuur ondersteuning, gebrek aan besigheids saak of verbruikers vereistes, gebrek aan projek bestuur kennis, gebrek aan beplanning, gebrek aan deelname van verbruikers asook die voortdurende verandering van vereistes. Hierdie studie beveel aan dat organisasies bewus moet raak van die kruiswerking/kruisfunksionering en kruisorganisie vereistes van inligtings tegnologie projek bestuur en dat aile bestuurs vlakke van deelnemende organisasies ook genoegsaam toepaslike kenn is en ondervinding moet he om sodoende die vereistes te behartig .

Thesis (MBA)--Stellenbosch University, 2001 / ENGLISH ABSTRACT: Small businesses are the traditional source of local and national economic growth. Small businesses in South Africa absorb almost half the people formally employed in the private sector and contribute nearly thirty seven percent to the country's gross domestic product. Unfortunately small businesses also have the reputation of a high failure rate some literature quote figures as high as sixty six percent of all small businesses within the first six years of their existence. An Australian survey indicated that nearly sixty five percent of all business failures were caused by controllable factors, which implicates that the use of consultants, or simply better management of the small business, could have prevented the failure. This study explains why small business owners are so reluctant to make use of outside consultants and looks into the most common causes of small organisation failure. This research project is designed as an incremental development study, where an existing model is adjusted to focus on a smaller nische market. A consulting model, developed to use in large organisations, was evaluated by identifying the problem areas that most often cause small organisations to fail and then comparing them to the areas addressed in the existing model. The conclusion reached was that although this model will definitely help small business owners to improve their businesses, it doesn't address the mest common causes of small business failure and adjustments is needed to customise this product for the small organisation. Based on the available data on the most common causes of small organisational failure, a new model is developed, which addresses the specific causes of small organisation failure. The new model gives examples of what would be in place in an organisation where the relevant critical success factor is successfully implemented as well as examples of what the situation will be if the relvant factor is absent. The small business owners evaluate themselves on a scale of one to ten. The model has a dual purpose, firstly to create an awareness with the owner of the full spectrum of factors that need to receive attention in a small organisation, and secondly to give a benchmark against which progress on each of the critical success factors can be measured. / AFRIKAANSE OPSOMMING: Klein besighede vorm die ruggraat van die Suid Afrikaanse ekonomie, met byna sewe-en-dertig persent van die Bruto Nasionale Produk (BNP), wat aan klein besighede toegeskryf kan word en as werkverskaffer aan bykans die helfte van alle werknemers wat formeel in diens is van die private sektor. Ongelukkig het klein besighede ook die reputasie van 'n groot mislukkingskoers met mislukkings so hoog as ses-en-sestig persent van alle klein besighede in die eerste ses jaar van die ondernemings se bestaan. 'n Australiese studie het getoon dat ongeveer vyf-en-sestig persent van die oorsake van klein besigheid mislukkings aan beheerbare faktore toegeskryf kan word. Met ander woorde hulp van konsultante, of bloot beter bestuur van die klein besigheid, kon die mislukking verhoed het. Hierdie werkstuk kyk na redes hoekom konsultante so min deur klein besighede gebruik word en na die mees algemene oorsake van klein besigheid mislukkings. Die werkstuk neem die vorm aan van 'n inkrementele ontwikkeling studie waar 'n reeds bestaande evaluasie model, aangepas word om te fokus op 'n kleiner nismark. 'n Konsultasie model, wat ontwikkel is vir gebruik in die diagnostiese fase van die konsultasieproses vir groot besighede, is ondersoek en daar is gekyk watter van die mees algemene faktore vir klein besigheid mislukking in hierdie model aangespreek is. Die gevolgtrekking was dat alhoewel die model definitief klein besigheids eienaars sal help om hul organisasies te verbeter, dit meeste van die oorsake vir mislukking in klein besighede nie direk aanspreek nie, en dat aanpassings van die model nodig is. Gebasseer op reeds bestaande navorsing oor die oorsake van klein besigheid mislukkings, is 'n nuwe model ontwikkel, wat spesifiek gerig is daarop om die mees algemene oorsake van mislukking aan te spreek. Die hersiene model gee voorbeelde van wat in plek sal wees in 'n organisasie waar die kritieke suksesfaktor suksesvol geimplementeer is asook voorbeelde van hoe die situasie daar sal uitsien indien die relevante faktor afwesig is. Klein besigheidseienaars evalueer hulself op 'n skaal van een tot tien. Die doel van die model is tweeledig, eerstens om die eienaar attent te maak op die volle omvang van faktore waaraan aandag gegee moet word, en tweedens om 'n riglyn te bied waarteen vordering op elkeen van die kritieke sukses faktore gemeet kan word.

Thesis (MBA)--Stellenbosch University, 2004. / The Study Project is entitled: "Corporate Governance and the fall of Enron", Concepts like corporate government have been developed and created due to needs of owners and society to supervise management but more importantly influence the direction of companies. The term "corporate governance" derives from an analogy between the governments of cities, nations or states and the governance of corporations. The early corporate finance textbooks saw "representative government" (Mead 1922:31) as an important advantage of the corporation over partnerships but there has been and still is little agreement on how representative corporate governance really is, or whom it should represent. The analogy between corporate and political voting was explicit in early corporate charters and writings, dating back to the revolutionary origins of the American corporation and the first railway corporations in Germany (Dunlavy 1998). The precise term "corporate governance" itself seems to have been used first by Richard Eells (1960, p.l08), to denote "the structure and functioning of the corporate polity". An important objective of this Study Project was to investigate the case study of Enron, why it failed and the outcome relating to Corporate Governance in the future. A review of the activities by Enron was done in order to determine the possible reasons of its failure. To achieve the above, it was determined that qualitative, investigative research would be conducted, rather than a quantitative, numerative approach. The research methodology used in this Study Project of a secondary research. Secondary research, in the form of an in-depth, global literature review was conducted on the topic.

Thesis (MBA)--Stellenbosch University, 2002. / What, if any, is the relation between Corporate Governance and Corporate Social Responsibility? "Corporate Governance is concerned with holding the balance between economic and social goals and between individual and communal goals. The corporate governance framework is there to encourage the efficient use of resources and equally to require accountability for the stewardship of those resources. The aim is to align as nearly as possible the interests of individuals, corporations and society" (Cadbury, 2000). The World Bank notes, that there is no single model of corporate governance with systems varying by country, sector and even in the same corporation over time. Among the most prominent systems are the US and UK models, which focus on dispersed controls; and the German and Japanese models which reflect a more concentrated ownership structure. Recently, South Africa's own King Report II on corporate governance is getting more and more international acclaim. Corporate social responsibility is concerned with treating the stakeholders of the firm ethically or in a socially responsible manner. Stakeholders exist both within a firm and outside. Consequently, behaving socially responsibly will increase the human development of stakeholders both within and outside the corporation. For instance the OECD (Organisation for Economic Co-operation and Development) principles imply that a key role for stakeholders is concerned with ensuring the flow of external capital to firms and that stakeholders are protected by law and have access to disclosure (OECD,1998:15). While the World Bank have been intrigued by a June 2000 Investor Opinion Survey of McKinsey (World Bank, 2000) that finds that investors say that board governance is as important as financial performance in their investment decisions and that across Latin America, Europe, the USA and Asia investors (over 80% of those interviewed) would be willing to pay more for a company with good board governance practices. "Poor governance" was defined by McKinsey as a company that has: • Minority of outside directors; • Outside directors have financial ties with management; • Directors own little or no stock; • Directors compensated only with cash; • No formal director evaluation process; • Very unresponsive to investor requests for information on governance issues. "Good governance" was defined by McKinsey as: • Majority of outside directors; • Outside directors are truly independent, no management ties; Directors have significant stockholdings; • Large proportion of director pay is stock / options; • Formal director evaluation in place; • Very responsive to investor requests for information on governance issues. In view of the new thinking regarding the function of boards of directors, this mini-thesis will focus particularly on the role of the independent director in corporate governance, with a specific review of the approach in the USA, Europe and South Africa. A proposed role for the independent director will be given, as well as some final conclusions and recommendations on the topic. Without a more complete study it would be immature to think that this paper could have a final say on the role of the independent director in corporate governance, rather it is intended as a stimulus for further research in this very contemporary area.