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 (MDevF (Business Management))--University of Stellenbosch, 2010. / ENGLISH ABSTRACT: Portfolio diversification in capital markets is an accepted investment strategy. On the other hand corporate diversification has drawn many opponents especially agency theorists who argue that executives must not diversify their firms. Instead, they must pay out the ‘free cash flows’ used to make acquisitions as dividends so that shareholders can diversify on their own. The ‘conglomerate discount’ of diversified firms in stock markets confirmed this argument and compelled many firms to refocus by selling-off non-core units from the 1980s. Through a case study of Zimbabwe Stock Exchange listed Delta Corporation Limited which spun-off its unrelated subsidiaries to focus on its core cold beverages business in 2001, this thesis investigates if by refocusing conglomerates improve shareholders’ returns. Using inflation adjusted share returns and factoring in risk by adopting the Sharpe index, the study results show that Delta underperformed the market and its peers as a diversified conglomerate but outperformed both benchmarks after refocusing. The study also argues that market failures in Zimbabwe, in particularly the foreign exchange and agriculture markets, compelled firms to divert from their core strategies in order to survive hyperinflation. It concludes by affirming the consensus in corporate diversification research that conglomerates are an inefficient structure for growing shareholders’ returns but may indeed be the default corporate strategy in developing economies frequently marred by market imperfections and failures.

This thesis deals with the management approach in performance management, today known world by the concept of Corporate Performance Management. CPM describes the relationship to Business Intelligence and methodologies, processes, metrics and technologies that together form the concept. There is also a description of CPM applications which cover the five most commonly deployed areas. The second part is devoted to what-if analysis that is one of several methodologies which are part of the CPM package. It also contains the list of competing tools that cover this area. The following hypothetical example of putting what-if analysis, aimed at resolving issues of fictitious company, related to costs, revenue and profit. Example is based on technology developed at IBM Cognos TM1. During the example solutions are presented with all the basic functionality that this technology offers.

This study examines how board diversity and characteristics of directors affect the financial and non-financial performance of Swedish state-owned enterprises (SOEs). SOEs are characterized by state ownership, goal complexity, governmental funding and control and are therefore typical examples of hybrid organizations that purse both commercial and political logics. The board of directors (BODs) of SOEs as representatives of the shareholder serve as corporate governance mechanism to control and monitor the organization to achieve financial and non-financial targets. Further, the boards should compose of directors with the appropriate competence and experience as well as integrity and ethical values to govern the challenges for hybrid organizations.Therefore, information of the BODs on Swedish SOEs are conducted regarding their educational background, professional experience, multiple appointments, tenure, gender diversity and age diversity, as well as the amount of state representatives. Financial performance was measured by using Return on Assets and Return on Equity, while non-financial performance was measured as the fulfillment of non-financial goals and the amount of reported and disclosed GRI standards. Our eight research hypothesizes are all based on prior research on corporate governance concerning board diversity and firm performance in both private as well as public organizations. Moreover, institutional logics and upper echelons theory are used to explain the effects of the diversity characteristics on corporate performance. All hypothesizes were rejected due to insignificant relationship. Even though a significant relationship was indicated between professional experience of the directors and financial performance, the hypothesis was rejected, since the relationship was the opposite of the expected.One of the reasons for these results can be that institutional logics and competing goals prevent the BODs from focus too strong on either financial or non-financial targets.

This diploma thesis deals with the corporate performance management which represents a new direction in utilizing of data produced by Business Intelligence. An application of this approach in a telecommunications operator environment is a major contribution of this thesis. Theoretical principles of corporate performance management which capture, for instance, analysis of components, architecture, future development and current state of the market are described in the first two chapters. The third charter is an introductory part to the practical one because it deals with selected implementation methodology of corporate performance management. This thesis concentrates on two parts within the framework of this methodology -- analysis and proposal. While the fourth chapter characterizes the initial situation and a methodology of collecting of data, the fifth and sixth chapters create a core of this diploma thesis. The fifth chapter, which focuses on the analysis mentioned above, surveys a current state of the parts needed in order to propose CPM and where it is necessary the fifth chapter submits proposals of changes. The sixth chapter creates a complex proposal of CPM in a real environment based on the analysis of current situation in the company and from the proposals of changes. This proposal represents a summary of theoretical knowledge of corporate performance management and the current situation in the telecommunications company. The last seventh chapter makes recommendations which would contribute to the future implementation of the proposed corporate performance management.

This dissertation consists of three papers that examine how aspects of public policy may impact private sector corporate governance. The first two examine the relationship between personal-tax policy and corporate agency costs. The first paper is a theoretical analysis based on an agency model of managerial behavior. A unique element of this paper is that it assumes a discontinuous compensation function, which reflects the occurrence of performance thresholds associated with the dismissal incentive and many common bonus plans. The analysis results in three main findings. First, the relative magnitude of proportional taxation has an indeterminate effect on managerial performance. Second, an increase in tax progressivity is associated with reduced managerial performance and increased agency costs. Third, the inclusion of performance thresholds and compensation discontinuities can cause tax system changes to have surprisingly large impacts on managerial performance. The second paper is an empirical investigation of the relationship between personal-tax progressivity and corporate operating efficiency. The analysis is based on variations in across-state tax policy and utilizes a sample of US-based firms. Using matched-pair testing and regression analysis, evidence is found that is consistent with the hypothesis that increased personal-tax progressivity negatively impacts managerial performance. Together, the analysis contained in the first two papers suggests a need to further examine the relationship between personal taxation and corporate agency costs, an issue that is largely absent from the research literature. The third paper investigates whether variations in state corporate law affect firm value. Previous research in this area generally treats all states other than Delaware as having homogeneous corporate law. I relax this assumption and analyze a large panel sample of US firms. Evidence is found that Delaware firms are worth more, on average, than non-Delaware firms. However, this effect is not consistent across all non-Delaware jurisdictions. The valuation differences are correlated to differences in statutory law. Specifically, corporate law that provides greater entrenchment of management is associated with reduced firm value. The results indicate that corporate law does affect corporate governance. Furthermore, the findings are inconsistent with the “race to the bottom” theory of corporate law. / May 2006

This dissertation consists of three papers that examine how aspects of public policy may impact private sector corporate governance. The first two examine the relationship between personal-tax policy and corporate agency costs. The first paper is a theoretical analysis based on an agency model of managerial behavior. A unique element of this paper is that it assumes a discontinuous compensation function, which reflects the occurrence of performance thresholds associated with the dismissal incentive and many common bonus plans. The analysis results in three main findings. First, the relative magnitude of proportional taxation has an indeterminate effect on managerial performance. Second, an increase in tax progressivity is associated with reduced managerial performance and increased agency costs. Third, the inclusion of performance thresholds and compensation discontinuities can cause tax system changes to have surprisingly large impacts on managerial performance. The second paper is an empirical investigation of the relationship between personal-tax progressivity and corporate operating efficiency. The analysis is based on variations in across-state tax policy and utilizes a sample of US-based firms. Using matched-pair testing and regression analysis, evidence is found that is consistent with the hypothesis that increased personal-tax progressivity negatively impacts managerial performance. Together, the analysis contained in the first two papers suggests a need to further examine the relationship between personal taxation and corporate agency costs, an issue that is largely absent from the research literature. The third paper investigates whether variations in state corporate law affect firm value. Previous research in this area generally treats all states other than Delaware as having homogeneous corporate law. I relax this assumption and analyze a large panel sample of US firms. Evidence is found that Delaware firms are worth more, on average, than non-Delaware firms. However, this effect is not consistent across all non-Delaware jurisdictions. The valuation differences are correlated to differences in statutory law. Specifically, corporate law that provides greater entrenchment of management is associated with reduced firm value. The results indicate that corporate law does affect corporate governance. Furthermore, the findings are inconsistent with the “race to the bottom” theory of corporate law.

This dissertation consists of three papers that examine how aspects of public policy may impact private sector corporate governance. The first two examine the relationship between personal-tax policy and corporate agency costs. The first paper is a theoretical analysis based on an agency model of managerial behavior. A unique element of this paper is that it assumes a discontinuous compensation function, which reflects the occurrence of performance thresholds associated with the dismissal incentive and many common bonus plans. The analysis results in three main findings. First, the relative magnitude of proportional taxation has an indeterminate effect on managerial performance. Second, an increase in tax progressivity is associated with reduced managerial performance and increased agency costs. Third, the inclusion of performance thresholds and compensation discontinuities can cause tax system changes to have surprisingly large impacts on managerial performance. The second paper is an empirical investigation of the relationship between personal-tax progressivity and corporate operating efficiency. The analysis is based on variations in across-state tax policy and utilizes a sample of US-based firms. Using matched-pair testing and regression analysis, evidence is found that is consistent with the hypothesis that increased personal-tax progressivity negatively impacts managerial performance. Together, the analysis contained in the first two papers suggests a need to further examine the relationship between personal taxation and corporate agency costs, an issue that is largely absent from the research literature. The third paper investigates whether variations in state corporate law affect firm value. Previous research in this area generally treats all states other than Delaware as having homogeneous corporate law. I relax this assumption and analyze a large panel sample of US firms. Evidence is found that Delaware firms are worth more, on average, than non-Delaware firms. However, this effect is not consistent across all non-Delaware jurisdictions. The valuation differences are correlated to differences in statutory law. Specifically, corporate law that provides greater entrenchment of management is associated with reduced firm value. The results indicate that corporate law does affect corporate governance. Furthermore, the findings are inconsistent with the “race to the bottom” theory of corporate law.

Diplomová práce popisuje moderní koncept řízení Corporate Performance Management a jeho efektivní podporu v informačních systémech organizace. První část práce se věnuje základním principům CPM, vycházejících ze současných manaţerských systémů, a jejich provázanosti na business intelligence technologie. Uvádí procesy, metriky, technologie, metodiky a přístupy, které se v rámci řízení výkonnosti a jeho zavádění v organizaci pouţívají. Druhá část práce se jiţ zabývá reálným projektem implementace řízení výkonnosti ve skupině RWE CZ. Popisuje průběh tohoto projektu a konfrontuje ho s doporučeními, která uvádí teorie. Pro jednotlivé fáze projektu jsou pak odvozeny kritické faktory úspěchu. V závěru práce je navrţena kategorizace těchto faktorů a ke kaţdému z faktorů je uvedeno doporučení pro jeho řešení.

Extensive solutions of Business Intelligence consist of wide range of projects. One of them is generating of reporting layer whose part is setting of dashboards. This diploma thesis deals with dashboards and tools serving to their formation. In the first part of the thesis there is explained the theory of dashboards in current company informatics. Consequently there is created a set of evaluative criteria helping with mutual comparison of the tool for the forming of dashboards, which is the primary aim of the thesis. In the last part of the thesis there is a presentation and evaluation of one selected tool (Dashboard Designer) according to the criteria stated in the thesis. During the evaluation of the tool it is possible to verify some of the criteria on the basis of practical experience. That is why the demonstrative implementation of Dashboard Designer over the test data is shown. Thus the second aim of the diploma thesis is completed. Aforementioned targets are achieved on account of pieces of knowledge about dashboards coming especially from the literature published by authorities in the line of business and from background research concerned with contemporary approach to the evaluation of tool for the forming of dashboards. In addition to formed criteria this diploma thesis can be instrumental to further discussion about dashboards and their role in current company informatics.