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of harmonising South African accounting standards with International Accounting Standards, it insisted that AC121 be withdrawn and replaced by guidance notes only.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.

Thesis (MComm)--Stellenbosch University, 2003. / ENGLISH ABSTRACT: Much research has been done on risk coverage within the field of the traditional insurance market, but the concept of alternative risk transfer is fairly new to the world of risk management. The need for more innovative, multi-faceted approaches to meet possible losses, together with the growing resistance to the cross-subsidisation inherent in traditional insurance, has initiated the development of the captive insurance industry as an alternative risk transfer mechanism. The objective of this research was to study the application of captive insurance as a risk management mechanism for managers. The objective comprised a modelling approach for managers to handle the strategic implications of establishing and operating a captive insurer. The tasks that were required for this assignment were as follows: • The completion of a literature study of the basic theory available on captive insurance as an internal risk financing mechanism for management; • The collection of relevant empirical information on the subject by means of questionnaires, which had to be based on the literature study; • The critical analysis of the collected data; and • The development of a decision-making model based on the outcome of the available information, that could provide a practical guideline for management to decide on the establishment and operation of a captive insurer. Twenty-five questionnaires were sent out during February 2003 to cover all the registered onshore and cell captive insurance companies in South Africa. Offshore insurance companies could not be included in this study due to article 33 of the Reserve Bank's Act no. 90 of 1989 regarding confidential information. Of the 25 captive insurance companies, 21 companies completed the questionnaires, and three respondents declared that they did not perform captive insurance activities anymore. A response rate of over 95 per cent is therefore achieved. The information obtained from the questionnaires was summarised on a SPSS spreadsheet and subjected to a statistical analysis to form the bases for the empirical investigation. The results of the empirical study for onshore and cell captive insurers leads to conclusions regarding the importance of the objectives needed for establishing and operating the captive Insurer. The three most importantfactors which should determine the decision of a holding company to establish an onshore captive insurer were identified as the financial commitment of the holding company, the spreading of the risks of the holding company, and the retention capacity of the holding company. The three most importantfactors which should determine the decision of a holding company to operate an onshore captive insurer are the retention capacity of the holding company, the financial commitment of the holding company, and the management commitment of the holding company. The three most importantfactors which should determine the decision of a holding company to establish a cell captive insurer were identified as the spreading of the risks of the holding company, the retention capacity of the holding company, and the financial commitment of the holding company. The three most importantfactors which should determine the decision of a holding company to operate a cell captive insurer are the financial commitment of the holding company, the spreading of the risks of the holding company, and the management commitment of the holding company. A decision-making model for both onshore and cell captive insurers was developed as a tool for risk managers when deciding on the establishment and operation of a captive insurer as part of their risk management programme. The resulting conclusions and recommendations of this assignment are largely based on the personal viewpoints of the captive insurers active in the South African captive insurance industry. It is therefore recommended that future research also includes the role and views of the holding companies. / AFRIKAANSE OPSOMMING: Heelwat navorsing is alreeds oor die tradisionele versekeringsmark ten opsigte van risikodekking gedoen, maar die konsep van alternatiewe risiko-oordrag is nog redelik nuut in die vakgebied van die risikobestuur. Die behoefte aan meer innoverende multivlak benaderinge om moontlike verliese te beperk, tesame met die toenemende weerstand teen kruissubsidiëring inherent aan tradisionele versekering, het tot die ontwikkeling van die gebonde (gevange) versekeringsbedryf as 'n wyse van alternatiewe risiko-oordrag gelei. Die doelstelling van hierdie navorsing was om die toepaslikheid van gebonde versekeraars as 'n risikobestuursmeganisme vir bestuurders te bestudeer. Die doelstelling omsluit 'n modelboubenadering vir bestuurders om die strategiese implikasies van die stigting en bedryf van 'n gebonde versekeraar te beheer. Die voortvloeiende take van die werkstuk is soos volg: • Die voltooiing van 'n literatuurstudie van die basiese teorie wat oor gebonde versekering, as 'n wyse van interne risikofinansiering vir bestuur beskikbaar is; • Die versameling van relevante empiriese inligting oor die onderwerp deur middel van vraelyste wat op die literatuurstudie gebaseer is; • 'n Kritiese ontleding van die versamelde inligting; en • Die ontwikkeling van 'n besluitnemingsmodelop grond van die resultate van die beskikbare inligting wat as 'n praktiese gids vir bestuur kan dien met betrekking tot besluitingneming oor die stigting en bedryfvan 'n gebonde versekeraar. Vyf en twintig vraelyste is gedurende Februarie 2003 gepos om al die geregistreerde binnelandse gebonde versekeringsmaatskappye, asook gebonde versekeringsmaatskappye wat uit verskillende selle bestaan ("cell captive insurance companies"), in Suid-Afrika te bereik. Buitelandse gebonde versekeringsmaatskappye kon nie deel van hierdie studie vorm nie vanweë artikel 33 van die Reserwebank se Wet nr. 90 van 1989 insake vertroulike inligting. Van die 25 gebonde versekeringsmaatskappye het 21 maatskappye die vraelyste voltooi en drie respondente het aangedui dat hulle nie meer by die aktiwiteite van gebonde versekering betrokke was nie. 'n Reaksiekoers van meer as 95 persent is gevolglik behaal. Stellenbosch University http://scholar.sun.ac.za Die inligting vanuit die vraelyste is opgesom deur middel van 'n SPSS-sigblad en 'n aantal statistiese ontledings is gedoen, wat die basis van die empiriese studie gevorm het. Die resultate van die empiriese studie ten opsigte van binnelandse gebonde versekeraars, asook gebonde versekeraars wat uit verskillende selle bestaan, het tot gevolgtrekkings gelei met betrekking tot die belangrikheid van die verlangde doelstellings vir die stigting en bedryf van gebonde versekeraars. Die drie belangrikste faktore wat die besluitneming van 'n houermaatskappy behoort te beïnvloed om 'n binnelandse gebonde versekeraar te stig, is geïdentifiseer as die finansiële verbintenis van die houermaatskappy, die spreiding van die risiko's van die houermaatskappy en die retensiekapasiteit van die houermaatskappy. Die drie belangrikste faktore wat die besluitneming van 'n houermaatskappy behoort te beïnvloed om 'n binnelandse gebonde versekeraar te bedryf, is geïdentifiseer as die retensiekapasiteit van die houermaatskappy, die finansiële verbintenis van die houermaatskappy en die bestuursverbintenis van die houermaatskappy. Die drie belangrikste faktore wat die besluitneming van 'n houermaatskappy behoort te beïnvloed om 'n gebonde versekeraar wat uit verskillende selle bestaan, te stig, is geïdentifiseer as die spreiding van die risiko's van die houermaatskappy, die retensiekapasiteit van die houermaatskappy en die finansiële verbintenis van die houermaatskappy. Die drie belangrikste faktore wat die besluitneming van 'n houermaatskappy behoort te beïnvloed om 'n gebonde versekeraar wat uit verskillende selle bestaan, te bedryf, is geïdentifiseer as die finansiële verbintenis van die houermaatskappy, die spreiding van die risiko's van die houermaatskappy en die bestuursverbintenis van die houermaatskappy . 'n Besluitnemingsmodel is as hulpmiddel vir risikobestuurders ontwikkel, vrr beide binnelandse gebonde versekeraars asook gebonde versekeraars wat uit veskillende selle bestaan, om met besluitneming ten opsigte van die stigting en bedryf van 'n gebonde versekeraar as deel van hul risikobestuursprogram te help. Die voortvloeiende gevolgtrekkings en aanbevelings van die werkstuk was grootliks gebaseer op die persoonlike menings van die gebonde versekeraars wat aktief in die Suid-Afrikaanse gebonde versekeringsbedryf is. Dit word gevolglik aanbeveel dat toekomstige navorsing ook die rol en menings van die houermaatskappye insluit.

A dissertation submitted to the Faculty of Science, University of The Witwatersrand, Johannesburg, in fulfilment of the requirements for the degree of Master of Science. Johannesburg, 1992 / The present study was conducted within the area of leadership research and examined aspects of management-subordinate dyads in the insurance industry. The aim of the study was to explore the proportion of variance of three dependent variables explained by the dimensions of the quality of Leader-Member Exchange between managers and subordinates, subordinate's perceived self-efficacy, and an interaction term comprising these two dimensions. The three dependent variables compnsed subordinate job satisfaction, and two measures of subordinate performance, namely the employee rating scale and a work output measure which overcame previous research's limitations. Research was conducted on a sample of broker-consultants (CN = 130). Results suggested that the leadership variable (leader-member exchange) explained a significant proportion of the variance of jab satisfaction but not in terms of job pertormance measures. Contrary to expectations, the addition of a self-efficacy variable and the t.,iC7 ...i-l10n term did not explain a dditional variance within the leadership model in terms of work performance and job satisfaction, with respect to self-efficacy and the interaction term. The limitations of the study in terms of leadership research will be considered. Theoretical and practical implications of the study will also be considered.

The study has sought to examine knowledge management practice in the Old Mutual, Buffalo City Metropole. The study has been conducted against the backdrop of measuring how far South African companies are in applying Knowledge Management (KM) tools and techniques to improve their competitive advantage. The study was conducted based on the assumption that insurance companies in South Africa are at the forefront in the use and application of technology. Various concepts are defined throughout the study. In reviewing literature for example, the study introduces the reader to various theories, views and approaches to KM. The most significant of these are the cultural and social systems approach on one hand and the product or process approach on the other. The study relied on the use of a variety of data collection methods such as questionnaires, interviews and participant observation for the purposes of collecting primary data. From the primary data collected, it was discovered that the largest number of responses came from marketing, sales and customer services departments. The employees have limited flexibility in terms of decision making and team work, due to the rigidity of tasks. The findings revealed that the company has a loosely structured infrastructure, where each strategic business unit (SBU) manages its own IT tools and documents. All these underlying aspects are not conducive to the promotion of and growth of KM in any company. The final chapter concludes with a model for KM implementation and the procedures to be followed to ensure that the practice adds value to the company.

In this study the service quality from a Metropolitan Broker Division towards contracted brokers in the southern region was investigated. From the industry and competitor analyses it can be concluded that service quality has become an important factor in the financial service industry, especially in the insurance industry. It is therefore important to look at options to outperform competitors. The literature survey was aimed at improving the level of quality service to contracted brokers. Based on the information obtained through the literature study and survey, a guideline to assist a Metropolitan Broker Division to improve the level of service quality was developed. The purpose of the empirical study was to determine if the service that contracted brokers receive from the Metropolitan Broker Division is of an acceptable level. The answers from respondents were analysed and compared with findings from the literature study. Recommendations were formulated for improving the level of service quality towards contracted brokers. The empirical study results were satisfactory and informative. The positive responses identified can be utilised to strengthen the marketing strategies by Metropolitan Broker Division while attention should be given to the negative responses.

Thesis (MBA)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: This research investigates the short-term insurance industry in South Africa in order to develop a strategic architecture for a new player to enter the market, differentiated primarily by operating on mutual principles. Mutual insurance is not something new and is widely applied across the world. However, in South Africa there is only one company that operates completely as a mutual. That company is known as the Professional Provident Society (PPS), and has been in operation since 1941. Although PPS operates completely as a mutual, it has only recently started to take part in the short-term insurance industry. Apart from them, there is no other short-term insurer that operates on mutual principles. In order to develop a strategic architecture, a thorough understanding of the industry and market was obtained by analysing the external and internal environments of short-term insurers in South Africa. The research is based on solid statistical data on all registered insurers, available from the governing body for insurers in South Africa, the Financial Services Board, as well as more qualitative data in the form of reports on industry analysis, performed by major auditors like KPMG and PWC. It also takes into consideration “cutting edge” approaches to starting up a new business, regardless of industry, through the application of the “Customer Development Model”, an approach based on lean and agile principles to mitigate the risk of developing a product / service at high cost before knowing if the market actually has a need or appetite for it. This research concludes by offering a strategic architecture and strategic implementation plan for a new player to enter the market, based on the analysis performed though the application of various strategic tools and frameworks. The primary findings of this research are that the industry is highly competitive, with longstanding ‘giants’ supported by parent companies. Those ‘giants’, however, all operate as stock insurers, and a transition by any one of them to mutual insurer, is highly unlikely. As mentioned, the industry currently only has one mutual insurer. This means there is really only one competitor (PPS) in terms of the profit sharing model and in that, PPS has a rather niche focus since its products are only available to graduate professionals. This research uses further external and internal environment analysis methods to extract industry information used in the formulation of a strategic architecture and business model for a new player to compete in the environment described above. It suggests that there is, in fact, room for a new player and that it can differentiate itself from stock insurers by applying the mutual model. It can further differentiate itself from stock insurers and PPS by expanding its market focus (i.e. not only for graduate professionals) and by utilising technology in productive and creative ways that encourages engagement with customers in a new way.

Thesis (PhD)-- Stellenbosch University, 2013. / ENGLISH ABSTRACT: Sanlam has long been stereotyped as an Afrikaans company. It has been positioned in Afrikaner nationalist historiography as one of a number of Afrikaner economic, cultural and political institutions that emerged alongside British ones in the early twentieth century as Afrikaners strove to assert their identity and independence. Much of the existing literature on the history of Sanlam has focused on the role that the company played in promoting this independence by mobilising savings for investment in Afrikaner businesses. This study challenges this conventional view of Sanlam. It argues that Sanlam was established as a South African company in a British industry of which the inclusion and empowerment of Afrikaners formed one aspect. It was a national institution that tried to represent South Africa at all levels. This study demonstrates Sanlam’s inclusiveness as a South African company by analysing its client profile from its establishment as a modest life insurance company in 1918 to its transformation into a diversified financial services group by 2004. It shows that Sanlam did not only target and attract Afrikaans-speaking clients, but included as wide a spectrum of clients as possible within the political and market constraints of the time. It did this by operating as a bilingual company, including working classes through industrial insurance and group schemes and by offering non-traditional life insurance products and ancillary financial services that met a range of needs. In this way Sanlam set itself apart from its competitors. Its clients included people from both sides of the demographic and social divide. Clients included English and Afrikaans-speakers, blacks and whites, young and old, male and female, and lower and upper class. Restrictions and exclusions were based on risk and not on race, sex or class. Sanlam broadened its prospects even further into the South African market during the second half of its history. This was in response to events such as the formation of the Republic in 1961, the growth of the South African economy, the deregulation of the financial sector in the 1980s and 1990s, and the collapse of Apartheid in the early 1990s. By 2004 Sanlam had completed its transformation into a diversified financial services group that provided a range of life insurance and financial services solutions for individuals, groups and businesses from various walks of life. The Group could now shift its focus not only onto further expansion into the South African and neighbouring African markets, but onto the rest of Africa and other emerging markets abroad. / AFRIKAANSE OPSOMMING: Sanlam is lank reeds bekend as ‘n Afrikaanse maatskappy, een van ‘n aantal ekonomiese, kulturele en politieke instellings wat gedurende die vroeë twintigste eeu ontwikkel het met die doel om die Afrikaner se identitieit en onhafhanklikheid te bevorder. Bestaande literatuur oor die geskiedenis van Sanlam fokus sterk op die rol van die maatskappy deur sy verkryging van belegggings vir Afrikanerbesighede. Hierdie studie betwis so ‘n konvensionele siening van Sanlam. Dit betoog dat Sanlam gestig is as ‘n Suid-Afrikaanse maatskappy in ‘n Britse industrie, waar die insluiting en bemagtiging van die Afrikaner slegs een aspek gevorm het. Sanlam was ‘n nasionale genootskap wat Suid-Afrika op alle vlakke probeer verteenwoordig het. Die studie toon Sanlam se insluiting as ‘n Suid-Afrikaanse maatskappy, deur ‘n ontleding van sy kliënteprofiel sedert sy stigting as ‘n beskeie lewensversekeringsmaatskappy in 1918 tot met sy transformasie in 2004 as ‘n gediversifieerde finansiële dienste groep. Dit wys dat Sanlam nie net Afrikaanssprekende kliënte bedien het nie, maar ‘n wye teikengroep binne die politieke en mark beperkinge van die spesifieke era. Albei amptelike landstale is gebruik, die werkersklas is deur industriële versekering en groepskemas betrek en nie-tradisionele lewensversekeringsprodukte en finansiële dienste is aangebied. Hierin het Sanlam homself van sy mededingers onderskei. Kliënte het mense van alle demografiese en sosiale verskille ingesluit. Daar was Engels- en Afrikaanstaliges, swart en wit, jonk en oud, manlik en vroulik, en polishouers van die laer en hoër klasse. Sanlam het gedurende die tweede helfte van sy geskiedenis verder in die Suid-Afrikaanse mark uitgebrei. Dit was in antwoord op gebeure soos die stigting van die Republiek in 1961, die groei van die ekonomie, die deregulering van die finansiële sektor in die 1980s en 1990s, en die beëindiging van apartheid gedurende die vroeë 1990s. Teen 2004 was Sanlam volkome getransformeer tot ‘n gediversifiseerde finansiële dienste groep met ‘n reeks lewensversekering- en finansiële produkte beskikbaar aan individue, groepe en besighede uit alle dele van die bevolking. Die Groep kon nou uitbrei, nie net in Suid-Afrika en sy buurlande nie, maar na die res van Afrika en ander opkomende markte oorsee.

Thesis (MComm.)--University of Stellenbosch, 2001. / ENGLISH ABSTRACT: In the recent past the industrialised world bore witness to staggering growth in the secondary and tertiary sectors of the economy. In the face of this growth process economic theory had to confront new challenges in explaining and interpreting economic phenomena. The complex nature of inter- and intra-firm relationships forced a pragmatic stance on policy makers to ensure that all actions are efficient and competitive. Two prominent schools of thought with contradictory viewpoints emerged. The Structuralists built upon the foundations laid by Bain (1951) and Mason (1939). This implied a theoretical framework, namely the Structure, Conduct and Perofrmance paradigm (SCP paradigm) that could be used to explain inter- and intra-firm relations according to a simple forward causality argument. The Structuralists' interpretation of the SCP paradigm provides strong support for the implementation of deconcentration measures by competition authorities. The Chicago School, however, developed a counter-argument inspired by Demsetz's (1973) efficiency hypothesis. According to them, causality is reversed and deconcentration measures are used at the expense of the most efficient firms. The thesis aims to study these contradictory arguments as well as their evolution in South Africa. Various researchers in South Africa have built on the arguments of the Structuralists and the Chicagoans regarding the manufacturing sector. The theoretical methods implemented by them will be applied to the long-term insurance industry to assess the validity of the SCP paradigm as a theoretical framework for the application of competition policy. / AFRIKAANSE OPSOMMING: Fenomenale groei in die sekondêre en tersiêre sektore van die ekonomie het nuwe uitdagings ter verklaring en interpretering van inter- en intra-ondernemingsverhoudinge verskaf. Die komplekse aard van die verhoudinge het 'n pragmatiese aanslag ter versekering van effektiwiteit deur beleidmakers genoodsaak. Twee prominente denkskole met teenstrydige argumente het ontstaan. Die Strukturaliste het hulle sieninge op die werk van Bain (1951) en Mason (1939) gebaseer. Hierdie teorieë verwys na 'n teoretiese raamwerk, naamlik die Struktuur, Gedrag en Prestasie paradigma (SGP paradigma), wat gebruik kan word om inter- en intra-ondernemingsverhoudinge aan die hand van 'n kousaliteitsvloei van struktuur na prestasie, te verklaar. Die Strukturaliste se interpretasie van die SGP paradigma verskaf ondersteuning Vir die implementering van 'n dekonsentrasiebeleid deur mededingingsowerhede. Die Chicago Skool het 'n argument ontwikkel wat op die effektiwiteitshipotese van Demsetz (1973) gebaseer is. Volgens hulle beweeg kousaliteit in die teenoorgestelde rigting as wat die Strukturaliste beweer en straf dekonsentrasiemaatreëls die mees effektiewe ondernemings. Hierdie werkstuk het ten doelom hierdie argumente sowel as die evolusie daarvan in die Suid-Afrikaanse konteks te ondersoek. Verskeie navorsers in Suid-Afrika het op argumente van dié twee denkskole ten opsigte van die vervaardingingsektor voortgebou. Die teoretiese metodiek wat deur hulle ontwikkel is, sal aangewend word om die geldigheid van die SGP paradigma as die teoretiese raamwerk vir die aanwending van 'n mededingingsbeleid in die langtermyn-versekeringsbedryf van Suid-Afrika vas te stel.

M.Comm. / Economic growth is the key to wealth creation and competitiveness. The purpose is to improve the welfare of society and upgrade the standard of living of all citizens. The most important element to any nation seeking growth and stability is economic growth - and the key to this is a high level of productivity. Sustained growth transforms the lives of poor people. It makes higher output and income possible, which raises the productivity of their work. However, South Africa's productivity record is disappointing and has fallen behind that of its main trading partners. Productivity growth has slowed down since 1970 and is poor compared to world standards. This contributes to the poor economic growth and a decline in competitiveness. Despite strong capital investment, productivity growth in South Africa has been weak and even negative for a long time. South Africa's lack of economic growth is further accentuated by high unemployment, labour unrest and high goverment expenditure. South Africa, competing with developing countries like Argentina, Brazil, Chile, Greece and Mexico has lagged behind these countries in terms of economic growth. Real incomes rose steadily in the 1960's, but dropped during the 1980's. South Africa was also the only country where output per person was lower (8%) in 1994 than in 1970. The next worst performer, Argentina, reported output per person of 13% higher in 1994 than in 1970. Brazil performed the best with over 80% higher output in 1994. The challenge facing the Goverment of National Unity is sustained productivity-growth. Firstly, the economy must grow faster to provide the basis for human development in the long run. Secondly, growth must benefit everybody. The economy must be stimulated to increase job creation to help alleviate poverty. In an attempt to stimulate the local economy and focus on productivity growth, incentive-based schemes are more widely being used to increase productivity. The use of incentives and "gainsharing" is recognised by management as an effective and one of a few successful methods to help raise productivity levels. In the process, a "win-win" solution is created. Ultimately, productivity gains translate into benefits for all the stakeholders. The aim of this study is thus to investigate the problems regarding productivity, methods of improving productivity in general with the emphasis on incentive schemes and "gainsharing" with a specific focus on the insurance industry in South Africa. The study begins with a thorough literature study regarding productivity, productivity improvement techniques and incentives to increase productivity. Following this is an imperical study to investigate certain specific factors which influence productivity, and methods to improve productivity through incentive schemes.

M.A. ( Information studies) / Information and knowledge are the new wealth of our time. Knowledge is a resource that is valuable to an organisation's ability to innovate and compete. As every business has to operate in an increasingly competitive and dynamic environment, business managers should base all decisions on their competitive standing in the world economy and the competitiveness of their knowledge competencies. The ability of a company to mobilise and exploit its intangible and invisible assets has become far more important than investing and managing physical, tangible assets ...