The construction industry has inherent problems due to its structure and fragmentation. Its poor performance has been challenged by its client base and it has been forced to seek ways to deliver improved performance. This project was initiated as a response to this challenge and represents one organisation's attempt to deliver improvements. This organisation provides both design and construction solutions, offering ‘total life of asset support' from business consultancy through to decommissioning, in a neutral contractual environment. Initial investigations of the integration of design and construction and of the use of the EFQM Excellence Model concluded that a holistic view of the organisation's performance was needed. Most organisations use traditional, easily quantifiable measures, such as time and cost, whilst neglecting the softer cultural issues, as a way of assessing overall business performance. This prompted further research into the use of performance measurement and also a review of the culture that existed within the organisation. It became clear that many performance initiatives failed because of the lack of ‘Change Action driven by Results (CAR)'. The failure to initiate change or implement action based on the results achieved, means that performance measures are not being integrated into the management systems of the organisations. Based on the conclusions of this work, this project has developed and implemented the Integrated Business Improvement System (IBIS) within the primary case study unit and also two other organisations, all of which are part of AMEC Plc. The project details the barriers that were experienced during the development and implementation of the system and concludes that it is the human component that is critical for the successful implementation and use of any improvement system. The findings of this work have been presented in five peer- reviewed papers.

Fast Moving Consumer Goods (FMCG) supply chains (SCs) are becoming more and more vulnerable to different types of risks due to the increasing complexity of markets, uncertainties, and turbulence, especially in the Middle East Region (MER). The main reason behind this is the political and economic instabilities resulting from the Arab Spring revolutions which affected all SC entities. There is an urgent need to investigate how to build resilient SCs that can help all partners in the chain to proactively identify and sidestep risks, and bounce back more quickly in the case of disruptions. For this reason, this research focuses on the creation of effective SC resilience model that could help companies to avoid SC risks to reduce vulnerability instead of being reactive toward disruptions. A conceptual model for SC resilience has been developed which identified three main constructs of SC resilience: risks, capabilities, and key performance indicators (KPIs). The links between the three constructs have been established. The empirical study has been conducted in two stages. In stage one, semi-structured interviews were conducted to collect data from 30 companies in FMCG SCs operating in the MER. A combination of thematic and comparative analysis has been used to analyse the qualitative data collected from the interviews in order to identify the main themes (types of risks and their causes, capabilities, and relevant KPIs), and to find the relations between themes. In stage 2, Analytical Hierarchy Process (AHP) was used to prioritize and rank the risks, capabilities, and KPIs using pairwise comparisons by taking into account opinions and preferences from SC managers in the FMCG industry in the MER. Preceding the analysis, a second round of structured interviews according to AHP process were conducted with the same 30 companies used in stage one. The thesis adds to the SC resilience literature by empirically explore the main causes of SC vulnerabilities that the FMCG SCs face in the MER and how companies can increase their capabilities to improve the resilience performance of the entire chain. An important contribution of this thesis is the development of the model for SC resilience in FMCG industry in MER context, that provides a useful reference model to assist managers in build a resilient SC, specifically, by identifying the main types of risks and their sources, by defining relevant capabilities that can help anticipate and overcome risks, and by recommending appropriate KPIs that can act as a sensor to market dynamics in the FMCG industry in MER. The model with the matrices (of risks-capabilities-KPIs) developed in this research established the links and interactions among the risks, capabilities, and KPIs which have great potential in guiding decision makers through the SC management (SCM) process, so that more informed decisions can be made and implemented for important risks to be avoided and to create more resilient FMCG SCs.

On 28 July 2010, the Nigerian Federal Executive Council approved January 1, 2012 as the effective date for the convergence of Nigerian Statement of Accounting Standards (SAS) or Nigerian GAAP (NG-GAAP) with International Financial Reporting Standards (IFRS). By this pronouncement, all publicly listed companies and significant public interest entities in Nigeria were statutorily required to issue IFRS based financial statements for the year ended December, 2012. This study investigates the impact of the adoption of IFRS on the financial statements of Nigerian listed Oil and Gas entities using six years of data which covers three years before and three years after IFRS adoption in Nigeria and other African countries. First, the study evaluates the impact of IFRS adoption on the Exploration and Evaluation (E&E) expenditures of listed Oil and Gas companies. Second, it examines the impact of IFRS adoption on the provision for decommissioning of Oil and Gas installations and environmental rehabilitation expenditures. Third, the study analyses the impact of the adoption of IFRS on the average daily Crude Oil production cost per Barrel. Fourth, it examines the extent to which the adoption and implementation of IFRS affects the Key Performance Indicators (KPIs) of listed Oil and Gas companies. The study further explores the impact of IFRS adoption on the contractual relationships between Nigerian Government and Oil and Gas companies in terms of Joint Ventures (JVs) and Production Sharing Contracts (PSCs) as it relates to taxes, royalties, bonuses and Profit Oil Split. A Paired Samples t-test, Wilcoxon Signed Rank test and Gray’s (Gray, 1980) Index of Conservatism analyses were conducted simultaneously where the accounting numbers, financial ratios and industry specific performance measures of GAAP and IFRS were computed and analysed and the significance of the differences of the mean, median and Conservatism Index values were compared before and after IFRS adoption. Questionnaires were then administered to the key stakeholders in the adoption and implementation of IFRS and the responses collated and analysed. The results of the analyses reveal that most of the accounting numbers, financial ratios and industry specific performance measures examined changed significantly as a result of the transition from GAAP to IFRS. The E&E expenditures and the mean cost of Crude Oil production per barrel of Oil and Gas companies increased significantly. The GAAP values of inventories, GPM, ROA, Equity and TA were also significantly different from the IFRS values. However, the differences in the provision for decommissioning expenditures were not statistically significant. Gray’s (Gray, 1980) Conservatism Index shows that Oil and Gas companies were more conservative under GAAP when compared to the IFRS regime. The Questionnaire analyses reveal that IFRS based financial statements are of higher quality, easier to prepare and present to management and easier to compare among competitors across the Oil and Gas sector but slightly more difficult to audit compared to GAAP based financial statements. To my knowledge, this is the first empirical research to investigate the impact of IFRS adoption on the financial statements of listed Oil and Gas companies. The study will therefore make an enormous contribution to academic literature and body of knowledge and void the existing knowledge gap regarding the impact and implications of IFRS adoption on the financial statements of Oil and Gas companies.

The aim of this master's thesis is to design methodics for measuring contribution of subsidiaries on economic value added EVA. The next objective is a design of reporting of subsidiaries. The report is in the form of a dashboard to the Chief Financial Officer. The dashboard consists of Financial Performance Indicators FPIs and Key Performance Indicators KPIs. The design is created on the base of financial analysis, analysis of the Economic Value Added EVA and according to recommendations of Business Performance Management, which describes what is best way to obtain KPIs.

Circular economy is a topic that has gained a lot of attention during the last decades. Even so, there is still a gap of research at the micro-level regarding how circular economy influences financial performance. This paper aims to investigate if circular economy has a positive impact on financial performance indicators. Furthermore, it explores whether the firm size has an impact on the level of circularity as well as if circularity has an impact on financial performance. Using a sample of Swedish companies, this paper applied the framework of 9Rs to enhance the knowledge of the level of circularity.A survey was sent to 239 SMEs within the manufacturing industry in Sweden to gather information about the expected relation between circular economy and the financial performance. Previous research points out that companies struggle to implement circularity since the systems are not yet developed. This paper cannot confirm the reasons behind the low number of companies with adopted circular processes, which could be investigated further by other researchers. However, it was found that most companies are still focusing on sustainability and only a few companies have implemented circularity in their business model. Furthermore, firm size does not have an impact on the level of circularity which could be due to either that the majority of participating companies is classified as small or that most companies are still linear. At last, the analysis results show that circular economy has a positive influence on the financial KPIs sales, return on assets and economic value added and that the higher level of circularity, the greater the impact.

Purpose: The purpose of this study is to create a brief, but comprehensive process for developing KPIs independent of context. Bridging the current gap in the literature for a process that can be applied in any industry or situation and include instructions for each of the steps in the process. To fulfill the purpose, the following research question is answered: Independent of industry and application, how could a process for organizations that are interested in developing new KPIs be structured? Method: This is an abductive qualitative study that combine extant literature with empirical data from both in-depth analysis of a single case company as well as interviews with companies from different industries. The literature was analyzed through a content analysis. Thematical analysis was utilized for analyzing the interviews. A tentative process for new KPI development synthesized from the theory and empirical findings was applied in the case company to identify a process that is applicable in a practical setting. Findings: The findings consist of a process for developing new KPIs with (1) six activities that companies should undertake, (2) six critical success factors, one for each activity, they need to consider, and (3) actions and tools to utilize in each activity. Implications: This study contributes to the literature by combining the currently wide array of research into a brief but comprehensible and applicable process that can be used independent of context. For practitioners, this study contributes by creating an understanding of how to efficiently develop new KPIs that enables the whole organization to achieve the strategy and goals. Limitations and future research: There are two main limitations in this study; the process is only applied at one company and the timeframe inhibited the ability to study the effects of the developed KPIs. Hence, future research should investigate if the process is valid in other contexts as well as study the effects of the KPIs being developed through the process. / Syfte: Syftet med denna studie är att skapa en koncis och kontextoberoende process for utveckling av nya KPIer. Detta överbryggar det nuvarande gapet i litteraturen för en process som innehåller detaljerade instruktioner och kan appliceras i vilken industri och situation helst. Följande forskningsfråga besvaras för att uppfylla syftet: Oberoende av industri och användning, hur kan en process för organisationer som vill utveckla nya KPIer vara strukturerad? Metod: Detta är en abduktiv, kvalitativ studie som kombinerar nuvarande litteratur med empirisk data från både en djupgående analys av ett företag samt flertalet intervjuer med företag från olika industrier. Litteraturen analyserades med en innehållsanalys. En tematisk analys nyttjades för att analysera intervjuerna. En tentativ process för utveckling av nya KPIer syntetiserad från teoretiska och empiriska resultat applicerades i ett företag för att identifiera en process som var applicerbar i praktiken. Resultat: Resultatet består av en process för utveckling av nya KPIer med (1) sex aktiviteter företag bör utföra, (2) sex kritiska framgångsfaktorer, en för varje aktivitet, de behöver ta hänsyn till och (3) steg och verktyg att nyttja i varje aktivitet.  Bidrag: Denna studie bidrar till litteraturen genom att kombinera det nuvarande breda spektrumet av studier till en omfattande men koncis och applicerbar process som kan användas oberoende av kontext. Studiens praktiska bidrag är att processen skapar en förståelse för hur företag effektict kan utveckla nya KPIer som möjliggör att företagets strategi och mål uppnås.  Begränsningar och framtida forskning: Studien har två huvudsakliga begränsningar: processen är enbart applicerad i ett företag och tidsramen förhindrade undersökning av de utvecklade KPIernas effekt. Därför vore det värdefullt om framtida forskning studerade processens användning i fler industrier och situationer samt vilken effekt KPIer utvecklade med processen har.

Since the introduction of the Municipal Finance Management Act (MFMA) in 2003 and the Public Sector Risk Management Framework in 2010, Municipalities had to start focusing on proper risk management as part of their management activities. Within the government sector, risk management needs to be implemented in order to prevent financial losses and to improve service delivery. If shortcomings regarding risk management exist within a municipality, it could have a negative effect on sound financial management and the outcome of annual audits. This study was conducted to test the hypothesis, namely if shortcomings regarding risk management exist within a municipality. Should this be the case, it could possible affect sound financial management and the outcome of annual audits. This was to a large extent proven within this case study and it is likely that other municipalities will have similar problems. Information was obtained from two groups of officials of the Sedibeng District Municipality by means of one-on-one interviews and hand delivered questionnaires. Group 1 consisted of 14 officials not in management positions and group 2 of 11 officials in senior management positions. The questionnaire comprised five sections of questions that aimed at determining the extent of knowledge and attitude of the respondent towards monitoring, assessment, identification and response to risk management within their specific departments. Analysis of the results indicated clearly that the overall risk management knowledge differed substantially from group 1 to group 2. The knowledge, monitoring, assessment, identification and response to risk management activities were minimal or unclear to respondents not in management positions. Respondents in senior management positions were more aware of risk management responsibilities. However they admitted that it was not always done as required and in many cases only due to compliance. The results are strengthened by the statement released by the Auditor General in his 2011 audit report on Sedibeng District Municipality stating “the implementation of appropriate risk management activities to ensure risk assessment, were not conducted and the risk strategy to address the risks was not developed and monitored.” Various recommendations are proposed within this article that could improve the overall management and sustainability of risk management within municipalities. / M Development and Management (Public Management and Governance), North-West University, Vaal Triangle Campus, 2014

Grenada is 1 of 15 developing countries in Caribbean Community known as CARICOM. The infrastructure capital projects in these developing countries are plagued with an array of issues: unethical practices, inadequate supervision, lack of transparency and accountability, inadequate monitoring and evaluation, cost overruns, and inefficiencies. In the 1980s and 1990s, the International Monitory Fund and World Bank introduced a balanced scorecard engineered under the structural adjustment program, but it was unable to improve infrastructure project efficiencies. This qualitative case study sought to understand the role of management key performance indicators (KPIs) on public sector infrastructure capital project efficiency on the island of Grenada. An institutional assessment and development framework and a classical management theoretical framework methodology were used to explore the effects of management KPIs on public sector infrastructure capital projects efficiencies in developing countries. The research incorporated a constructivist philosophy that underpins the evaluation and perception of the government, the National Water and Sewerage Authority (NAWASA), project teams, systems, and stakeholders. A purposive sampling strategy with elements of snowballing was used to obtain 12 representative participants for interviews, and a systematic approach of transcribing, coding, and thematic analysis was done. Findings indicate inadequacies in the BSC performance measure system on infrastructure projects, which justifies the use of comprehensive management KPIs. Positive social change implications of this study include recommendations for comprehensive management KPIs and policies to improve public sector infrastructure project efficiency in Grenada.

Bakgrund: Globalisering har skapat ett ökat behov för företag att förbli konkurrenskraftiga. Att hantera kostnader effektivt blir allt viktigare i organisationer. Medutgångspunkt i ett fallföretag så har problem kring mätning och jämförbarhetmellan hanteringen av lagerkostnader i geografiskt spridda lager identifierats. I nuläget finns det ingen metod som jämför hur väl hanteringen av lagerkostnader görs i olika länder. De landspecifika egenskaperna skapar olikheter och för att åstadkomma en jämförbarhet så krävs anpassad ekonomistyrning. Syfte: Syftet är att utveckla en kalkylmodell som möjliggör en homogen mätning för olika länders hantering av lagerkostnader. Detta ska kunna skapa en jämförbarhet mellan geografiskt spridda lager. Studien ska utveckla ett komplement till rådande beslutsunderlag som avser stödja en organisations beslutsprocess för lageroptimering. Metod: Här motiveras vilka metodologiska val som gjorts under studiens gång. För att studien ska uppnå sitt syfte så har vi först utvärderat det befintliga styrmedlet för att sen genomföra modellutvecklingen i förhållande till uppställda kriterier för innehålls- och processegenskaper. Materialet för studien har samlats in via det multinationella företaget och genom semistrukturerade intervjuer med tre respondenter inom företaget. Avsnittet motiverar valet av teori och empiri som används och huruvida utvecklingen av modellen i analysdelen ska leda till studiens slutsats. Slutsats: Organisationer har sedan tidigare använt prestationsmätningar för att genom ekonomistyrning kontrollera sina lagerkostnader. Den ökade globalisering har försvårat jämförbarheten givet landsspecifika variabler som påverkar kostnaderna. Genom en kalkylmodellering har ett lagerkostnadsindex utvecklats vilket representerar en standardiserad varukorg. Kapitalstrukturerna neutraliseras och en intern benchmarking möjliggör på så vis att samtliga lagerlokaler kan introduceras att hantera sina lagerkostnader på bästa sätt. / Background: Globalization has created a growing need for companies to remain competitive. It’s becoming more important to manage costs effectively in organizations. Based on a case company problems regarding measurement and comparability of management in warehouse costs between geographically dispersed countries has been identified. Currently there’s no method available for comparison of cost-efficiency of warehouse costs in different countries. The country-specific characteristics create differences. In order to achieve comparability adapted financial control is needed. Purpose: The purpose is to develop a model that enables a homogeneous measurement for management of warehouse costs in different countries. With the intention to make possible comparability between geographically dispersed warehouses. The case study will develop a complement to the existing decision-making. With the aim to support the organization’s decision-making process for warehouse optimization. Method: A motivation for methodological choices made during the study will be presented here. We have first evaluated the existing instrument and then implemented the model in relation to criteria for content- and process characteristics, in order to achieve the aims of the study. Material for the study was collected through the multinational company and by semi-structured interviews with three employees from the company. The section justifies the choice of theory and empirical content used. In the analysis a justification for whether the development of the model leads to the study’s conclusion. Conclusion: Organizations have previously used performance measurements for their financial control of warehouse costs. The increased globalization has complicated the comparability due to country-specific variables that affect costs. Warehouse cost indexes have been developed through a model that takes into account a standardized basket of goods that are relatable to warehouse costs. The capital structure becomes neutralized and internal benchmarking enables such that all warehouse costs can be compared in order to how cost-efficient each and every are.

Since the introduction of the Municipal Finance Management Act (MFMA) in 2003 and the Public Sector Risk Management Framework in 2010, Municipalities had to start focusing on proper risk management as part of their management activities. Within the government sector, risk management needs to be implemented in order to prevent financial losses and to improve service delivery. If shortcomings regarding risk management exist within a municipality, it could have a negative effect on sound financial management and the outcome of annual audits. This study was conducted to test the hypothesis, namely if shortcomings regarding risk management exist within a municipality. Should this be the case, it could possible affect sound financial management and the outcome of annual audits. This was to a large extent proven within this case study and it is likely that other municipalities will have similar problems. Information was obtained from two groups of officials of the Sedibeng District Municipality by means of one-on-one interviews and hand delivered questionnaires. Group 1 consisted of 14 officials not in management positions and group 2 of 11 officials in senior management positions. The questionnaire comprised five sections of questions that aimed at determining the extent of knowledge and attitude of the respondent towards monitoring, assessment, identification and response to risk management within their specific departments. Analysis of the results indicated clearly that the overall risk management knowledge differed substantially from group 1 to group 2. The knowledge, monitoring, assessment, identification and response to risk management activities were minimal or unclear to respondents not in management positions. Respondents in senior management positions were more aware of risk management responsibilities. However they admitted that it was not always done as required and in many cases only due to compliance. The results are strengthened by the statement released by the Auditor General in his 2011 audit report on Sedibeng District Municipality stating “the implementation of appropriate risk management activities to ensure risk assessment, were not conducted and the risk strategy to address the risks was not developed and monitored.” Various recommendations are proposed within this article that could improve the overall management and sustainability of risk management within municipalities. / M Development and Management (Public Management and Governance), North-West University, Vaal Triangle Campus, 2014