This research examines the impact of purchasing constraints and demand variability on working capital balances. The working capital accounts considered are creditors, debtors and raw material inventories. Purchasing constraints and demand uncertainty are defined. The supply chain of the South African cable industry, and one manufacturer in particular, and the challenges faced in the cable manufacturing process are discussed. To quantify the influences, a comparison between working capital accounts in the case of economic order quantity and actual purchasing practices is performed. A simulation model is developed to reproduce a larger sample of demand data, matching the cumulative probability density function of each cable type contained in the annual sales budget. The results show, that the working capital accounts react differently to changes in purchasing conditions and variations in demand, the most sensitive being raw material inventories. The study quantifies the influence of purchasing constraints on each working capital value. / Business Management / M.Com. (Business Management)

Bank capital has a critical role in banking business the world over. Capital is a principal aspect of regulation and will determine how long a bank remains in business from a regulatory point of view. Its cost and the regulatory amount have an impact on the competitiveness of an institution and will influence the rate of expansion of a bank. The contribution of capital to the profitability and survival of a commercial bank remain an unresolved empirical issue. Prior research on the relationship between capital and profitability has largely focused on developed economies, especially the USA, and Europe. However, the results have been inconclusive. There is no evidence of such kind of a research done to date that focuses on an emerging economy such as South Africa. The seemingly conflicting finding coupled with regulations imposing equity capital adequacy from the Basel 11 Accord present an opportune platform for further research on the relationship between capital and profitability. Using South Africa as a unit of analysis and using the Generalised Methods of Moments (GMM), and Panel Two Stage Least Squares (2SLS) or Pooled IV method as the estimation techniques, this study tested the hypothesis that there is a positive and statistically significant relationship between bank capital and profitability. The results from the study provide evidence of a positive relationship between capital ratio (CAR), return on equity (ROE) and return on assets (ROA) and supported the generally held notion that there is a positive relationship between bank capital and profitability. This research output provided new insights into the long-run impact of bank capital on profitability and survival. From a bank specific strategic decision-making perspective, this would assist financial institutions and investors in tailoring investment decisions in response to policy decisions that relate to bank capital. From the public policy perspective, this would assist both governments and regulators in formulating better- informed policy decisions regarding the importance of bank capital. / Business Management / D. Com. (Business Management)

Purpose – This research paper falls within the interpretive research philosophy and considers talent management within the field of competitive advantage. It aims to explore the organisation members’ perceptions of talent, talent management, the factors perceived to facilitate competitive advantage and the role of leadership in the facilitation of talent management. It attempts to achieve a greater understanding of talent management as practically applied by organisations. Design/Methodology – A qualitative research approach in collecting and analysing data was implemented for this particular research study to address the research problem. The research design consists of a qualitative case study of one organisation. The organisation was purposively selected due to its superior performance in its particular industry. The data was collected by using in-depth interviews and observation and analysed using qualitative content analysis. Organisational documents supplemented the data collection process. Rationale – Current talent management literature shows a lack of understanding of talent and the role leadership plays in talent management. A number of authors have called for research which focuses on the perspectives of all stakeholders, especially at the individual level. It was also suggested that greater focus is allocated to small to medium enterprises, as multi-national corporations dominated the current literature. This research paper has the potential to increase levels of understanding at both organisation and individual level. This study examined TM from a range of perspectives, focused on a smaller organisation and is one of the few qualitative studies in the world within a developing country—research that is lacking in the literature. Findings – Participants held different views on talent and talent management, supporting the lack of consensus on these topics and the lack of a standardised understanding. The findings highlight that talent management was mostly perceived to involve the correct positioning of people within the organisation and that talent involved skills, knowledge and abilities to perform their roles well. Organisational structure, processes, and the lack of leadership ability were perceived as the dominant factors affecting the effective implementation of talent management practices. Talent management was perceived as important by the middle and lower-level participants of the study and was perceived as not important by higher-level participants—a contrasting finding due to the fact that the higher-level candidates felt that it was important to retain staff, understood the consequences of staff loss and that it was difficult to replace talent. Theoretical and managerial implications – The findings correspond with previous studies that the understanding of talent management is still lacking and thus potentially jeopardizes shaping a competitive advantage. The leadership cadre at the case organisation failed to see the importance of talent management and failed to link talent management to competitive advantage and ultimately failed to strategise potential talent management practices and effective talent management implementation. The modern business environment is changing and the realisation that talent management is of crucial importance to sustained competitive advantage is becoming evident. Limitations – The main source of error was a potential bias of results and a lack of rigorous data analysis, which was overcome by attending to the reliability of the research. Future research – There is potential for further empirical research to be conducted in other industries while maintaining focus on smaller businesses. The focus must also be maintained on the perspectives of all stakeholders in organisations. / Business Management / M. Com.

Abstract in Xhosa and English / This study aimed to examine the relationship between working capital management and the financial performance of listed food and beverage companies in South Africa. Despite the existing literature on this relationship, no notable studies have investigated it in this particular industrial sector. Various data from a sample of 12 food and beverage companies listed on the JSE during the period 2007 to 2016 were collected from iress McGregor databases. Econometric regression analysis was then conducted on the data to determine the magnitude of relationships between working capital components and the financial performance of these companies. The researcher found that adopting an aggressive working capital management strategy assists in creating shareholder wealth through improved financial performance of the firm. To sum up, the shorter the cash conversion cycle, the more profitable the firm will be. / Injongo yesi sifundo kukuphonononga unxulumano phakathi kolawulo lwemali etyalelwa ukusebenza (inkunzi) nentsebenzo yemali (inzala) eyenziwa ziinkampani ezibhalisiweyo zokutya neziselo eMzantsi Afrika. Nangona kukhona okubhaliweyo malunga nolu nxulumano, akukho sifundo sigqamileyo ngeli candelo lorhwebo. Kukho iinkcukacha ezaqokelelwa kwiinkampani ezikhethiweyo ezili-12 nezibhaliswe kwiJSE. Ezi nkcukacha zazikwingqokelela egciniweyo eyaziwa ngokuba yi ‘iress McGregor databases’. Kuye kwenziwa uhlalutyo ngokuthelekisa inzala eqhele ukwenziwa naleyo kuqikelelwa ukuba iza kwenziwa kwezi nkcukacha zikaMcGregor. Oku bekusenzelwa ukubona ubungakanani bonxulumano phakathi kwenkunzi nenzala eyenziwa zezi nkampani. Umphandi ufumanise ukuba ukwakha icebo lolawulo olungqongqo lwenkunzi kuyanceda ekudaleni ubutyebi babanini zabelo ngokuphucula inzala eyenziwa liqumrhu lorhwebo. Elokuqukumbela lithi, ngokufutshanisa ivili lokuguqula imali, iya kuba ngaphezulu inzala yequmrhu lorhwebo. / Business Management / M. Com. (Business Management)

This study investigates the association between traditional and alternative working capital measures and the returns of industrial firms listed on the Johannesburg Stock E"change. Twenty five variables for all industrial firms listed for the most recent 10 years were derived from standardised annual balance sheet data of the University of Pretoria's Bureau of Financial Analysis. Traditional liquidity ratios measuring working capital position, activity and leverage, and alternative liquidity measures, were calculated for each of the 135 participating firms for the 1 0 years. These working capital measures were tested for association with five return measures for every firm over the same period. This was done by means of a chi-square test for association, followed by stepwise multiple regression undertaken to quantify the underlying structural relationships between the return measures and the working capital measures. The results of the tests indicated that the traditional working capital leverage measures, in particular, total current liabilities divided by funds flow, and to a lesser e"tent, long-term loan capital divided by net working capital, displayed the greatest associations, and e"plained the majority of the variance in the return measures. At-test, undertaken to analyse the size effect on the working capital measures employed by the participating firms, compared firms according to total assets. The results revealed significant differences between the means of the top quartile of firms and the bottom quartile, for eight of the 13 working capital measures included in the study. A nonparametric test was applied to evaluate the sector effect on the working capital measures employed by the participating firms. The rank scores indicated significant differences in the means across the sectors for si" of the 13 working capital measures. A decrease in the working capital leverage measures of current liabilities divided by funds flow, and long-term loan capital divided by net working capital, should signal an increase in returns, and vice versa. It is recommended that financial managers consider these findings when forecasting firm returns. / Business Management / D. Com. (Business Management)

This thesis analyses conflicts in the role of business as a social partner in the South African economy by studying skills development in the Border-Kei Region. Skills development is a key component of the South African government’s programme of labour market regulation and is founded on a participatory approach. The skills development framework requires the participation and co-operation of multiple social partners but relies heavily on the role of business in the attainment of national and sectoral skills development objectives. Unfortunately, however, there are significant conflicts in the role which business is expected to play which consequently hinder the efficiency of the framework and the likelihood that that these objectives will be realised. One of the most pertinent examples of these conflicts is the voluntary nature of the skills development framework, which incentivises but does not compel organisations to invest in training and development. Other conflicts include dissonances between national and employer led strategies and organisational disincentives to engage in training and development. This qualitative study uses an interpretive approach to study how and to what extent the Skills Development Act is implemented in selected organisations in Buffalo City as well as studying the issues pertaining to the implementation process. By using a purposive sampling approach, this research includes both primary data in the form of semi-structured interviews and secondary data in the form of documentary sources. The data represents the perspectives of business, labour and government and provides significant depth of insight into the discussions and issues surrounding skills development in Buffalo City. This dissertation argues that South Africa’s vocational training system, institutionalised through appropriate legislation, may not be sufficient to mobilise social partners, and of primary concern in this research – business – to invest in skills development. It suggests that extensive reliance on business is an insufficient way in which to upskill the labour market. However, with few alternatives to this approach, it is subsequently essential that business is encouraged to buy into the collective interest of skills development objectives. This primarily entails overcoming the challenges that embody the framework and increasing state emphasis on skills development.

The private and social returns to education literature share the same conclusion: that education is beneficial for both the individual and society. However, the theoretical underpinnings are flawed as the literature does not account for the main feature that leads to the acquisition of education: the private demand for education. An understanding of the factors that motivate the individual to invest in education would lead to a deeper insight as to why both private and social returns to education exist, and would provide a clearer framework on which to base the government funding of education. This thesis provides a first attempt at filling this gap by introducing a method of estimating the returns to government investment in education, which is labelled the ‘labour market drop-out rate approach’. The approach focuses on the social return to education, not in terms of graduate earnings, but in terms of the interaction of the graduate with the economy. The approach introduces a measure of expertise utilisation, based on the premise that there is no social return to an individual acquiring education if he or she does not utilise the acquired knowledge base on entering the labour market. The approach is tested using the labour market for marine scientists in South Africa as a case study. In this case the private demand for education is found to be heavily influenced by the provision of student bursaries from the National Research Foundation, with a resulting estimate of the social return to a degree in marine science being a mere 20% to 25%. Owing to this, a new approach to government investment in marine science is introduced, that of graduate contribution schemes. Of broader significance is the ease of application of this approach, it may be adopted to analyse any funding programme in which a government may decide to invest. As such, the labour market drop-out rate provides an extension to the returns to education literature through its theoretical dealings of the private demand for education, as well as a practical tool which government agencies can use to evaluate the efficacy of any government funding of education.

This study examined the role of export diversification on economic growth in South Africa. The study used annual time series data for the period covering 1980 to 2010 and employed a Vector Error Correction Model to determine the effects of export diversification and possible factors that affect it on economic growth. Possible factors that affect export diversification considered as independent variables in this study include gross capital formation, human capital, real effective exchange rate and trade openness. Results of the study reveal that export diversification and trade openness are positively related to economic growth while real effective exchange rate, capital formation and human capital have negative long run relationships with economic growth. The study recommended the continual implementation of trade liberalisation by the South African government. The South African government is also encouraged to promote the production of a diversified export basket through subsidisation, promotion of innovation and production of new products.

The aim of this study was to examine the effectiveness of a capacity development programme initiated by the Department of Economic Development and Environmental Affairs (DEDEA) as a mechanism to enhance the performance of the employees in order to improve service delivery to the people of the Eastern Cape. The public service is enjoined by the Constitution to provide services that citizens need, and for this reason it is in need of educated, trained and professional public servants, especially in the technical, professional and managerial categories. The department also recognized the potential of public–private partnerships (PPPs) to improve performance in the areas of transformation and service delivery, and that it required investments aimed at developing and strengthening public management capacity. However, the effectiveness of the PPP as a mechanism for capacity development, remained unknown. The literature reviewed overwhelmingly supported the assertion that human capital development is critical for performance in the public service. The review also highlighted the importance of partnerships, especially the role of the private sector in the area of capacity development, advancing the argument that PPPs should be pursued in order to leverage ideas, resources, and capabilities to achieve public service goals. Various research tools, namely interviews, questionnaires and document analysis were used to conduct the study. Data collected and analysed provided empirical evidence of improved performance of both the individual managers and the department in the functional areas of financial governance and management; programme and project management; as well as ethics and professionalism. It suggested a strong correlation between training, capacity development and service delivery. This research found the DEDEA/National Business Initiative (NBI) PPP initiative, as a capacity development mechanism to enhance the performance of the department‟s employees, effective. On strength of the overwhelming evidence gathered through this research, it strongly recommends that the programme be rolled out to other employees.

The focus of this research is to understand the relevance of the Human Resource Development Strategy for the functioning of South African Public Service and its implications for the Emerging Management Development Programme (EMDP). One of the main challenges of the Human Resource Development Strategy (HRDS) is its translation into well designed training programmes that are aligned with the goals and objectives of the strategy. The Emerging Management Development Programme (EMDP) is meant to be the translation and interpretation of the HRDS for public sector training and development on emerging management level. The intention of this study is to evaluate, analyse and understand the alignment of the EMDP with the Human Resource Development Strategy for the South African pubic service and subsequently suggest proposals for the possible improvement of emerging middle management development. The objectives of the research will be stated in the form of two critical questions:  What are the main directives in the Human Resource Development Strategy for the Public Service regarding management development in general, and the gaps in the design and development of the Emerging Management Development Programme (EMDP) in particular?  How does the design and development of the current EMDP meet the strategic vision for management development as envisioned in the Human Resource Development Strategy for the Public Service? The research methodology applied in this study, is a qualitative research approach. This approach focuses on phenomena that occur in natural settings, i.e. in the real world and involve studying those phenomena in all of their complexity which is used to gather data. This data is preserved in descriptive narratives. A qualitative research approach also uses mainly the constructivist-interpretive perspective. The key finding is that as much as the EMDP is comprehensive, it is however not yet aligned with the Human Resource Development Strategy of the South African Public Service. The recommendation is that the conversion of the objectives of HRDS-SA into the learning outcomes of the EMDP in order to provide a framework for a comprehensive base of competencies that inform the curriculation of the EMDP is important. This will ensure that the learners are able to benefit from a multitude of skills development activities in the programme and, in so doing, render them more purposeful to improve their impact on the skills challenges of the country. / Public Administration and Management / M. Tech. (Public management)