Sedan kalla krigets slut har en ny typ av aktör dykt upp i internationella konflikter och krig världen över. Denna aktör är privata företag som i dagsläget erbjuder allt från supplementär logistik till att helt ersätta nationella arméer. Utgångspunkten i denna uppsats är att ta reda på vilka faktorer som har skapat en marknad för dessa företag generellt, samt vilka av dessa faktorer som kan förklara framväxten i Sverige specifikt. I uppsatsen undersöks befintlig forskning kring vad som drivit utvecklingen. Därefter kommer befintlig teori att prövas som förklaringsmodell för expansionen i Sverige. Den befintliga teorin som prövats på Sverige består av sju faktorer beskrivandes politiska och samhälleliga förutsättningar vilka förklarar expansionen. Av dessa återfinns samtliga i Sverige, men genom en analys av deras respektive giltighet i svensk kontext uppstår en mer nyanserad bild, där endast fyra av faktorerna är relevanta som förklaringar. Dessa är en transformation av försvarets fokus och organisation, en politisk trend av privatisering samt ett överflöd av militärt utbildad personal utan sysselsättning. Av dessa är den förstnämnda den starkaste katalysatorn medan den sistnämnda endast i viss mån påverkar den redan pågående expansionen. / Since the end of the Cold War a new phenomenon has shown in international conflict and war, worldwide. This phenomenon is the private companies nowadays offering supplementary logistics, armed troops to the front and everything in between. This essay aims to identify which factors that have contributed to the creating of a market for these companies in general, and which of these that can explain the growth of Swedish companies in particular. In the essay previous research on the topic of privatization of security are examined and thereafter applied onSwedenin order to examine to what extent it can be used to explain the changes inSweden. The existent theory applied onSwedenconsists of seven factors, describing political and social basis, which explain the expansion. All of these are found in Sweden, however, through a further analysis of their individual relevance, a more nuanced result can be seen, whereas only four out of seven are relevant as explanations. These are a transformation in defence focus and organization, a political trend of privatization and a flood of trained unemployed military personnel. The first one of these is the strongest catalyst for expansion while the latter only to a certain degree reinforces the already ongoing process.

In ICT industry, firms’ financial prosperity and growth are highly depended on innovation. The innovation provides competitive advantage and high performance for the ICT companies. The purpose of the paper is to study effect that the companies’ internal resources, experience on the market, investments in innovation and business environment have on their performance. The sample includes 22 ICT companies from North America, EU and Asia region. The examined data cover period from 2011 to 2015. The companies’ annual reports and USPTO were used as the sources of the data. The mixed research method is chosen to reach the study’s objectives. The study is analysed with help of DEA and Balanced scorecard performance measurement methods. Organizational learning theory and Resource based theory are applied to answer the research questions in the study. The outputs of performance are categories such as assets and competencies, innovative activities, suppliers and customer relations, and employees and management. These categories are presented by a variety of indicators such as assets turnover, labour productivity ratio, debt ratio, SG&A costs ratio and number of published patents. The factors such as companies’ size, age, investments in R&D and business environment have significant impact on the performance of innovative activities. The results suggest that the large established ICT companies are less efficient in studied categories than the smaller and younger ICT firms. Moreover, the younger smaller companies show higher efficiency even in terms of such outcomes as R&D intensity and number of published patents. The results are consistent with the findings attained in previous studies from the same scientific field.

Changes and challenges that have occurred during the last couple of years, have forced life insurance companies to make certain strategic decisions in order to remain competitive. Life insurance companies have to monitor their surrounding environment in order to create opportunities to allow them to survive in their competitive environment. This study intends to contribute to the competitive advantage as well as to the profitability of life insurance companies. Franchising in the financial service industry in South Africa, as an alternative distribution channel, formed the focus of this study. The life insurance industry is struggling to come to terms with the wave of regulations being implemented in the industry. Because franchising provides an opportunity for people without business experience and due to the changing environment, a framework for managing such a business plays a major role in the success of the business. Through the use of a survey an empirical study was done to test the relationship of concepts that will contribute to the development of a framework for a sustainable franchise in the life insurance industry. The various concepts were discussed and brought into context with the objectives of the study. The research study shows that franchising can be a viable option as an alternative marketing channel in the life insurance industry. The main findings of the study contribute to the development of the framework for managing a sustainable franchise in the life insurance industry in South Africa. / MBA, North-West University, Potchefstroom Campus, 2015

Changes and challenges that have occurred during the last couple of years, have forced life insurance companies to make certain strategic decisions in order to remain competitive. Life insurance companies have to monitor their surrounding environment in order to create opportunities to allow them to survive in their competitive environment. This study intends to contribute to the competitive advantage as well as to the profitability of life insurance companies. Franchising in the financial service industry in South Africa, as an alternative distribution channel, formed the focus of this study. The life insurance industry is struggling to come to terms with the wave of regulations being implemented in the industry. Because franchising provides an opportunity for people without business experience and due to the changing environment, a framework for managing such a business plays a major role in the success of the business. Through the use of a survey an empirical study was done to test the relationship of concepts that will contribute to the development of a framework for a sustainable franchise in the life insurance industry. The various concepts were discussed and brought into context with the objectives of the study. The research study shows that franchising can be a viable option as an alternative marketing channel in the life insurance industry. The main findings of the study contribute to the development of the framework for managing a sustainable franchise in the life insurance industry in South Africa. / MBA, North-West University, Potchefstroom Campus, 2015

Notable in strategic management research is a paradigm shift from industry/market factors as determinants of competitive strategy to a resource-based view. This study focuses on the extent to which firms in the reinsurance industry use resources for strategic positioning and differentiation. A qualitative case study approach has been adopted for this study. On the basis of open-ended questions, interviews were conducted with 6 executives of the 6 chosen non-life reinsurance companies. In addition to interviews, company annual reports were used. Results obtained point to similarities in broader categorisation of resources, namely human capital, financial resources, information systems and organisational culture. Despite similarities in the broader grouping of resources, uniqueness in resources and competitive advantage derived therefrom is in the attributes of each of the resources that a reinsurance firm own. The main driver for basing positioning and differentiation strategies is that resources are controllable and manipulative compared to industry factors. Though the results support the underlying principles of the resource-based view, it is notable that its prescriptive nature with regard to resource characteristics, does not hold for some of the resources such as human resources, which are not perfectly immobile. / Graduate School of Business Leadership / MBL

Many of the Swedish gazelles never leave the domestic market and often have a problem with leaving the start-up phase. One problem for the gazelles is that many are stagnating within a couple of years and few ever reach more than 50 employees. The purpose of this research is to extend the knowledge on how Swedish gazelle companies can continue to grow through internationalization. The thesis has used a qualitative method with an abductive approach. The research is based on a multiple case study of three gazelle companies where the data was collected through in-depth interviews.

Assignment (MAcc )--Stellenbosch University, 2004. / ENGLISH ABSTRACT: Existing long-term insurance financial reporting practices are heavily based on regulatory foundations. Although the reporting requirements of the long-term insurance industry are unique, there is currently no comprehensive, up to date Financial Reporting Standard in South Africa for long-term insurers. The demand for increased disclosure in the financial statements of long-term insurers increases the importance of the basic accounting principles for these companies as embodied in the Framework for the Preparation and Presentation of Financial Statements, namely comparability, relevance, accuracy and understandability of financial reporting. The SAICA Long-Term Insurance Interest Group discussed the withdrawal of AC121 Disclosure in the Financial Statements of Long-Term Insurers and the replacement thereof by way of other guidance. Ultimately the Accounting Practices Committee has firmly stated that it will not tolerate the ongoing implementation of AC121 because it contradicted a number of other accounting statements and indeed overrode those statements. With this in mind and taking into account the program of harmonising South African accounting standards with International Accounting Standards, it insisted that AC121 be withdrawn and replaced by guidance notes only. The current lack of authoritative South African guidance on financial reporting by long-term insurers results in the potential compromise of the basic qualitative characteristics of comparability and relevance in their financial statements, as certain disclosures are voluntary rather than required. The aim of the research was to assess the impact of the lack of authoritative South African financial reporting guidance relating to South African long-term insurers on the basic financial statement characteristic of comparability. A literature study was undertaken and a checklist for disclosure in the long-term insurance industry was drawn up. The objective was to highlight areas of noncomparable disclosure for which financial reporting standards should be created in order to provide guidance on financial reporting by South African long-term insurers and, where possible, to suggest guidance. Financial statements of selected South African long-term insurers were reviewed and "measured" against the checklist in order to make an assessment of comparability. Currently the disclosure of industry-specific items differs significantly amongst long-term insurance companies in South Africa. The comparability test (on information disclosed in the 2002 annual reports of the selected companies) and the research done on industry-specific items identified by this test indicated the extent of this non-comparability within the South African long-term insurance industry. In view of the recent withdrawal of AC121 and the results of the comparability test, there is reason to believe that each long-term insurer in South Africa discloses what it believes is right and what it believes the industry is required to disclose. This results in significant non-comparability between the financial statements of South African long-term insurers. The author recommends that a long-term insurance industry accounting statement in the AC500 series should be issuéd, which should provide the appropriate guidance not only to preparers of financial statements, but also to other users of financial statements in the long-term insurance industry, until such time as the international accounting project relating to long-term insurers is complete. Some work will be required to update and/or amend a "new AC121" for the AC500 series. / AFRIKAANSE OPSOMMING: Die huidige praktyk vir finansiële verslagdoening van langtermynversekeraars berus grotendeels op 'n regulatoriese grondslag. Hoewel die vereistes vir verslagdoening van die langtermynversekeringsbedryf eiesoortig is, bestaan daar tans in Suid-Afrika geen omvattende hedendaagse Finansiële Verslagdoeningstandaard vir langtermynversekeraars nie. Die vraag na groter openbaarmaking in die finansiële state van langtermynversekeraars verhoog die belangrikheid van basiese rekeningkundige beginsels vir hierdie maatskappye soos vervat in die Raamwerk vir die Voorbereiding en Aanbieding van Finansiële State, naamlik vergelykbaarheid, relevansie, akkuraatheid en verstaanbaarheid van finansiële verslagdoening. SAIGR se Langtermynversekering Belangegroep het die onttrekking van RE121 Openbaarmaking in die Finansiële State van Langtermynversekeraars en die vervanging daarvan deur middel van ander riglyne bespreek. Uiteindelik het die Komitee vir Rekeningkundige Praktyk nadruklik bepaal dat dit nie die voortgesette implementering van RE121 verder kan onderskryf nie, omdat dit teenstrydig is met 'n aantal ander rekeningkundige standpunte en in werklikheid daardie standpunte ter syde stel. Met dien verstande en met inagneming van die harmoniseringsprogram om Suid-Afrikaanse rekeningkundige standaarde in harmonie met Internasionale Rekeningkundige Standaarde te bring, is daarop aangedring dat RE121 onttrek en slegs deur rigtinggewende riglyne vervang word. Die heersende gebrek aan gesaghebbende Suid-Afrikaanse riglyne oor finansiële verslagdoening deur langtermynversekeraars lei tot die potensiële kompromie van die basiese kwalitatiewe eienskappe van vergelykbaarheid en relevansie in hul finansiële state, aangesien sekere openbaarmaking vrywillig eerder as verplig is. Die doel van die navorsing was In bepaling van die impak wat die gebrek aan gesaghebbende riglyne vir Suid-Afrikaanse finansiële verslagdoening met betrekking tot Suid-Afrikaanse langtermynversekeraars op die basiese kenmerk van vergelykbaarheid van die finansiële state het. In Literatuurstudie is onderneem en In toetsstaat vir openbaarmaking in die langtermynversekeringsbedryf is opgestel. Die doelwit was om die soeklig te laat val op terreine waar openbaarmaking nie vergelykbaar is nie, waarvoor standaarde vir finansiële verslagdoening geskep moet word ten einde riglyne te verskaf oor finansiële verslagdoening deur Suid-Afrikaanse langtermynversekeraars en om waar moontlik, voorstelle hiervoor aan die hand te doen. In Oorsig van finansiële state van geselekteerde Suid-Afrikaanse langtermynversekeraars is onderneem en aan die toetsstaat "gemeet" ten einde die vergelykbaarheid te beoordeel. Teenswoordig verskil die openbaarmaking van bedryfspesifieke items aansienlik tussen langtermynversekeringsmaatskappye in Suid-Afrika. Die vergelykbaarheidstoets (volgens inligting wat in die 2002-jaarverslae van die geselekteerde maatskappye verstrek word) en die navorsing wat gedoen is oor bedryfspesifieke items wat deur hierdie toets geïdentifiseer is, toon die omvang van hierdie nievergelykbaarheid binne die Suid-Afrikaanse langtermynversekeringsbedryf. In die lig van die onlangse onttrekking van RE121 en die resultate van die vergelykbaarheidstoets, is daar rede om te glo dat elke langtermynversekeraar in Suid-Afrika opbenbaar wat volgens sy oortuigings reg is en wat hy glo van die bedryf verlang word om te openbaar. Dit lei tot beduidende nie vergelykbaarheid tussen die finansiële state van Suid-Afrikaanse langtermynversekeraars. Die skrywer beveel aan dat 'n rekeningkundige standpunt vir die langtermynversekeringsbedryf in die RE500-reeks uitgereik word, wat die toepaslike riglyne behoort te voorsien nie net aan diegene wat finansiële state voorberei nie, maar ook aan ander gebruikers van finansiële state in die langtermynversekeringsbedryf, tot tyd en wyl die internasionale rekeningkunde projek met betrekking tot langtermynversekeraars afgehandel is. 'n Sekere mate van werk sal nodig wees ten einde 'n "nuwe RE121" vir die RE500 reeks by te werk of dit te wysig.

Many top market capitalization companies are information technology (IT) firms, including Apple, Google, Microsoft, and Facebook, each of which is valued at more than $300 billion. Facebook is less than 10 years old and is one of the top 10 companies in the world in terms of market capitalization. However, technologies change rapidly; website revenue—which once grew at a brisk rate—has slowed down, while mobile technology growth is increasing and technology trends are shifting toward cloud hosting and big data analytics. IT companies that have increased their R&D spending remain leaders throughout periods of technology change. Companies such as Facebook and Google have doubled and tripled their profits, respectively over` the past decade. In this dynamic environment, analysts play a critical role in evaluating IT company financial statements and estimating company sales and earnings per share (EPS). This study examines how changes in R&D spending are related to analysts’ sales and earnings estimate revisions. An analysis of data over a 20-year period shows that analysts typically revise their sales estimates based on changes in a company’s R&D expenditures. The correlation between analyst earnings estimates and R&D expenditures, however, varies based on company size and industry within the IT sector. Analysts play a particularly important role in small companies, where the correlation between R&D and sales changes is not as high as in large companies. Analysts are thus critical to the functioning of capital markets in the IT sector.

published_or_final_version / Business Administration / Master / Master of Business Administration

published_or_final_version / Business Administration / Master / Master of Business Administration