Thesis (MBA)--Stellenbosch University, 2004. / ENGLISH ABSTRACT: Corporate governance has become the latest business "buzz-word" during the
last number of years. It is almost being used as an excuse for too many things
that go wrong with, or within, companies. However, the word is not going to
disappear from business lexicon, it has come to stay.
Too many companies and investors have suffered due to the greed of
individuals, appointed to lead and manage the business that have misused their
position of trust and enriched themselves in many ways. This could have been
brought about by many reasons:
• Directors who have not been trained properly for their fiduciary duties and
other duties and responsibilities.
• Directors who have not been evaluated on their performance as a board
or individually.
• No formal governance structures within the organisation.
• No culture of accountability within the organisation.
• Simple greed.
This study concentrates on some of the literature, ranging from the Cadbury
report released in 1992, the OECD principles and international trends, to the
South African King II Report, released in 2002. From the literature, and the
recommendations from it, there can be no doubt that the pressure to improve
governance structures will become fiercer around the globe. Investors are taking
it seriously and are willing to pay a premium for shares in a properly governed
enterprise.
Directors will have to sharpen their skills in being the primary instrument in
preventing further corporate scandals. The importance of their accountability
towards the company will be measured when board evaluation no longer is an
exception, but the rule, in creating effective boards. Agricol Beherend Limited should be no exception. Although not required to
formally comply with the recommendations of the King II Code, it can only be
advantageous in striving to long-term sustainability.
It is further concluded that entrepreneurship is at the heart of capitalistic society,
the sphere in which businesses operate in creating wealth for their investors.
This is where the influence and leadership abilities of non-executives play a vital
role in creating the environment and culture for enterprises to flourish in. They
have to determine the equilibrium between conformance and performance in
keeping the entrepreneurial spirit alive, yet complying with best practice
principles of corporate governance. / AFRIKAANSE OPSOMMING: Korporatiewe bestuur, of beheer, het oor die laaste aantal jare die nuutste
gebruikswoorde in die besigheidsomgewing geword. Dit word feitlik as
verskoning gebruik vir alles wat met, of binne-in, organisasies verkeerd loop.
Desnieteenstaande, die woorde gaan nie van die algemene
besigheidsspreektaal verdwyn nie, dit het gekom om te bly.
Te veel maatskappye en beleggers het gely onder die hebsug van individue wat
aangestel is om maatskappye te lei en te bestuur, maar wat hulle
vertrouensposisie misbruik het om hulself op verskeie maniere te verryk. Dit kon
deur 'n verskeidenheid van redes teweeggebring gewees het:
• Direkteure wat nie behoorlik opgelei is in hulle fudisiëre pligte, asook
ander pligte en verantwoordelikhede nie.
• Direkteure wat nie behoorlik geëvalueer is op hulle prestasie as 'n raad of
op individuele basis nie.
• Geen behoorlike formele korporatiewe bestuursstrukture binne die
maatskappy nie.
• Geen kultuur van verantwoording binne die maatskappy nie.
• Eenvoudige hebsug.
Die studie konsentreer op sekere gedeeltes van die literatuur wat strek van die
Cadbury verslag wat in1992 vrygestel is, die OECD beginsels en internasionale
tendense, tot by die Suid-Afrikaanse King II verslag wat in 2002 verskyn het. Uit
die literatuur, en die aanbevelings daarin vervat, kan daar geen twyfel wees dat
die druk om korporatiewe beheerstrukture te verbeter in die toekoms, wêreldwyd,
slegs groter sal word nie. Beleggers is besig om ernstig daarna op te let en is
selfs bereid om 'n premie te betaal vir aandele in 'n organisasie wat behoorlike
korporatiewe bestuur toepas. Direkteure sal hulle vaardighede moet opknap, aangesien hulle die primêre
instrument is om verdere korporatiewe skandale te voorkom. Die belangrikheid
van hulle verantwoording teenoor die maatskappy sal gemeet word wanneer die
evaluering van direksies nie meer die uitsondering is nie, maar die reël, in die
samestelling van effektiewe direksies.
Agricol Beherend Beperk behoort geen uitsondering te wees nie. Alhoewel dit
nie verlang word om formeel aan die aanbevelings van die King II Kode te
voldoen nie, kan dit slegs tot voordeel wees in die strewe na langtermyn
volhoubaarheid.
Die verdere gevolgtrekking is dat entrepreneurskap die kern vorm van 'n
kapitalistiese bestel, die ruimte waarin besighede opereer om welvaart vir
beleggers te skep. Dit is waar die invloed en leierskapsvaardighede van nie-uitvoerende
direkteure 'n belangrike rol speel in die skepping van 'n omgewing
en kultuur waarbinne besighede kan floreer. Hulle moet die ekwilibrium bepaal
tussen voldoening en prestasie, deur 'n gees van entrepreneurskap, terwyl daar
voldoen word aan beste korporatiewe bestuursbeginsels.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/49896 |
| Date | 12 1900 |
| Creators | Giani, Anton Louis |
| Contributors | Esterhuyse, W. P., Stellenbosch University. Faculty of Economic & Management Sciences. Graduate School of Business. |
| Publisher | Stellenbosch : Stellenbosch University |
| Source Sets | South African National ETD Portal |
| Language | en_ZA |
| Detected Language | Unknown |
| Type | Thesis |
| Format | 98 p. |
| Rights | Stellenbosch University |
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