Investigating the potential for the application of lean manufacturing in the can coating plant at Duco Coatings
- Authors: Erasmus, Deidre Felicia
- Date: 2008
- Subjects: Manufacturing processes -- South Africa , Waste minimization -- South Africa , Production management -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8579 , http://hdl.handle.net/10948/949 , Manufacturing processes -- South Africa , Waste minimization -- South Africa , Production management -- South Africa
- Description: Companies are constantly expected to be more competitive while working in an environment in which time and cost are limited, thereby preventing such companies from taking the time required to be responsive. It is, therefore, important that companies understand that conventional knowledge and methods will not serve unless there is a concerted focus on improvement of organisational performance toward fulfilling increased expectations, not just maintaining that which is comfortable. A more sustainable approach may be the introduction of lean manufacturing techniques. The lean manufacturing process is one that continuously strives to eliminate waste, thereby increasing the percentage of time that may be devoted to value-adding activities. Lean manufacturing principles were applied in the Can Coating Plant of Duco Speciality Coatings. This study was intended to identify waste in the current production process in the Can Coating Plant and then to use lean tools and principles to eliminate such waste. Implementation of these lean tools proved to result in a leaner and more value-adding process. The new process rendered a positive result on Duco Coating’s costs, quality and product performance. Recommendations on further improvements were also offered.
- Full Text:
- Date Issued: 2008
- Authors: Erasmus, Deidre Felicia
- Date: 2008
- Subjects: Manufacturing processes -- South Africa , Waste minimization -- South Africa , Production management -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8579 , http://hdl.handle.net/10948/949 , Manufacturing processes -- South Africa , Waste minimization -- South Africa , Production management -- South Africa
- Description: Companies are constantly expected to be more competitive while working in an environment in which time and cost are limited, thereby preventing such companies from taking the time required to be responsive. It is, therefore, important that companies understand that conventional knowledge and methods will not serve unless there is a concerted focus on improvement of organisational performance toward fulfilling increased expectations, not just maintaining that which is comfortable. A more sustainable approach may be the introduction of lean manufacturing techniques. The lean manufacturing process is one that continuously strives to eliminate waste, thereby increasing the percentage of time that may be devoted to value-adding activities. Lean manufacturing principles were applied in the Can Coating Plant of Duco Speciality Coatings. This study was intended to identify waste in the current production process in the Can Coating Plant and then to use lean tools and principles to eliminate such waste. Implementation of these lean tools proved to result in a leaner and more value-adding process. The new process rendered a positive result on Duco Coating’s costs, quality and product performance. Recommendations on further improvements were also offered.
- Full Text:
- Date Issued: 2008
Retention strategies for skilled SARS customs employees
- Authors: Lennie, Graeme Mark
- Date: 2008
- Subjects: Employee retention , Employee motivation
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8704 , http://hdl.handle.net/10948/999 , Employee retention , Employee motivation
- Description: The South African Revenue Services (SARS) is an amalgamation of the former Departments of Customs and Excise, and the Receiver of Revenue. SARS obtained full autonomy from the Government in October 1997 in order for it to administer its own affairs. SARS has since made great strides in transforming its people and technology, although some growing pains are recently being experienced, i.e. the “retention question”. The problem statement, “What strategies can be implemented for retaining skilled employees within SARS Customs” is derived from a multitude of problematic issues currently being experienced world wide. Problem areas particular to South Africa, include: the mass exodus of white skilled labour; baby-boomers (aged 60 – 65) nearing retirement, affirmative action, employment equity, and a general lack of skills in the employment industry. An employee engagement survey (2007) conducted at SARS, shows figures that further exacerbates the problem. The objectives of the research were therefore, to conduct a literature study of employee retention strategies, investigate the research strategies currently being employed at SARS, the reasons for the low levels of employee engagement and to develop a strategic model for employee retention for use at SARS Customs in the Eastern Cape Region of South Africa The study takes the form of a case study, using quantitative and qualitative methods of research. A questionnaire was distributed to respondents, the results of which were analysed and presented. The findings show that SARS Customs is in a good position with regards to pay and benefits. Areas that require attention though are training, development and career management, effective supervision, and day-to-day activities.
- Full Text:
- Date Issued: 2008
- Authors: Lennie, Graeme Mark
- Date: 2008
- Subjects: Employee retention , Employee motivation
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8704 , http://hdl.handle.net/10948/999 , Employee retention , Employee motivation
- Description: The South African Revenue Services (SARS) is an amalgamation of the former Departments of Customs and Excise, and the Receiver of Revenue. SARS obtained full autonomy from the Government in October 1997 in order for it to administer its own affairs. SARS has since made great strides in transforming its people and technology, although some growing pains are recently being experienced, i.e. the “retention question”. The problem statement, “What strategies can be implemented for retaining skilled employees within SARS Customs” is derived from a multitude of problematic issues currently being experienced world wide. Problem areas particular to South Africa, include: the mass exodus of white skilled labour; baby-boomers (aged 60 – 65) nearing retirement, affirmative action, employment equity, and a general lack of skills in the employment industry. An employee engagement survey (2007) conducted at SARS, shows figures that further exacerbates the problem. The objectives of the research were therefore, to conduct a literature study of employee retention strategies, investigate the research strategies currently being employed at SARS, the reasons for the low levels of employee engagement and to develop a strategic model for employee retention for use at SARS Customs in the Eastern Cape Region of South Africa The study takes the form of a case study, using quantitative and qualitative methods of research. A questionnaire was distributed to respondents, the results of which were analysed and presented. The findings show that SARS Customs is in a good position with regards to pay and benefits. Areas that require attention though are training, development and career management, effective supervision, and day-to-day activities.
- Full Text:
- Date Issued: 2008
Strategies for retaining talented staff and knowledge managers : a case study
- Authors: Gatyeni, Litha
- Date: 2008
- Subjects: Employee retention -- South Africa , Employee motivation -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8710 , http://hdl.handle.net/10948/958 , Employee retention -- South Africa , Employee motivation -- South Africa
- Description: The South African government is currently targeting 6 per cent economic growth for the country (Mail & Guardian, 2006). The construction industry is one of the growing forces contributing to the current economic growth of South Africa. However, in the speech made by the president Thabo Mbeki, he highlighted the labour market as one of the key constraints to achieving higher and sustainable growth. It is believed that there is a skills shortage or a mismatch in the labour market (Mail & Guardian, 2006). The construction industry has seen a steady growth over the past number of years. When South Africa won the bid to host the 2010 world cup, this required more building work to be done, such as construction of stadia, hotels, etc. This has put further strain in the construction industry. As the work load increases, the companies in the industry require more resources, with the human resources being the most affected. This has seen a high rate of talented staff turnover in the industry as companies seek to increase their capacity to allow them cope with the current work load. The consulting engineering industry plays a critical role of the construction industry. The selected company is part of the electrical and mechanical consulting engineering industry which has also been affected by the high talented staff turnover. The main purpose for this research was to identify retention strategies that can be used by the selected company to reduce the turnover of their talented staff. The research also investigated methods to retain the knowledge within the company that was possibly lost due to a high talented staff turnover rate. The first step used to resolve the issues discussed above was to complete a full literature study. The literature study sought to reveal what characteristics were required in the company that ensured staff would be happy in that company and remain there for a long time. The literature study also covered what knowledge iv management methods can be used by the company to retain its valuable knowledge. Secondly, the views of current staff, ex-staff and management of the selected company on staff and knowledge management strategies were asked in an empirical study, which involved completing questionnaires and conducting structured interviews. Based on the findings of the literature study and the empirical study, the last step was to make recommendations on what strategies should be implemented to retain staff and knowledge for the selected company.
- Full Text:
- Date Issued: 2008
- Authors: Gatyeni, Litha
- Date: 2008
- Subjects: Employee retention -- South Africa , Employee motivation -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8710 , http://hdl.handle.net/10948/958 , Employee retention -- South Africa , Employee motivation -- South Africa
- Description: The South African government is currently targeting 6 per cent economic growth for the country (Mail & Guardian, 2006). The construction industry is one of the growing forces contributing to the current economic growth of South Africa. However, in the speech made by the president Thabo Mbeki, he highlighted the labour market as one of the key constraints to achieving higher and sustainable growth. It is believed that there is a skills shortage or a mismatch in the labour market (Mail & Guardian, 2006). The construction industry has seen a steady growth over the past number of years. When South Africa won the bid to host the 2010 world cup, this required more building work to be done, such as construction of stadia, hotels, etc. This has put further strain in the construction industry. As the work load increases, the companies in the industry require more resources, with the human resources being the most affected. This has seen a high rate of talented staff turnover in the industry as companies seek to increase their capacity to allow them cope with the current work load. The consulting engineering industry plays a critical role of the construction industry. The selected company is part of the electrical and mechanical consulting engineering industry which has also been affected by the high talented staff turnover. The main purpose for this research was to identify retention strategies that can be used by the selected company to reduce the turnover of their talented staff. The research also investigated methods to retain the knowledge within the company that was possibly lost due to a high talented staff turnover rate. The first step used to resolve the issues discussed above was to complete a full literature study. The literature study sought to reveal what characteristics were required in the company that ensured staff would be happy in that company and remain there for a long time. The literature study also covered what knowledge iv management methods can be used by the company to retain its valuable knowledge. Secondly, the views of current staff, ex-staff and management of the selected company on staff and knowledge management strategies were asked in an empirical study, which involved completing questionnaires and conducting structured interviews. Based on the findings of the literature study and the empirical study, the last step was to make recommendations on what strategies should be implemented to retain staff and knowledge for the selected company.
- Full Text:
- Date Issued: 2008
The antecedents of customer satisfaction in a financial institution : a qualitative study
- Authors: Bleske, Adrian
- Date: 2008
- Subjects: Standard Bank Properties , Banks and banking -- South Africa , Banks and banking -- Customer services -- South Africa , Financial services industry -- South Africa , Bank management -- South Africa , Banks and banking -- Customer services -- Effect of marketing on
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:840 , http://hdl.handle.net/10962/d1015482
- Description: The following is a case study report on the Cape Town business unit of Standard Bank Properties. The research project falls within the ambit of services marketing which introduces several unique management challenges for service businesses that sell services as a core offering. The principal aim of the case study is to gain an understanding of why customers bank at the business unit and to discover what aspects are critical to customer satisfaction. A further goal of the research is to examine how the business unit could improve customer satisfaction and to highlight any impediments to further improving customer satisfaction at the business unit. It is generally regarded that quality customer service is essential to building customer relationships and hence the research project emphasis on services marketing and customer satisfaction within a financial services context. The paper commences with an overview of the South African Banking Sector and its unique challenges such as the Financial Service Charter and newly introduced legislation such as Financial Intelligence Centre Act. The case study will specifically investigate the property finance industry and a detailed analysis of the business unit's operations and process flow will also be undertaken. The reason for this background information is to assist the reader to understand how the business unit operates. The research project will investigate four unique differences between goods marketing and services marketing whereafter three theoretical propositions are introduced, namely the dyadic interaction and service encounter, the Service Profit Chain and finally Relationship Marketing. Evidence in the form of a narrative will be led from insights obtained from interviews conducted with customers and staff at the business unit against these propositions with support (or otherwise) from independent surveys and documents from the business unit. The result of this analysis is the identification of several areas of concern specifically: New employees and the service encounter, Problems with FICA, Lack of a customer complaint handling system, Empowerment issues, Turnaround times, Reliance on key staff These insights together with the evidence from the literature review will be analysed and several recommendations made to improve customer service and ultimately customer satisfaction at the business unit. Several recommendations for further research are offered as well as the identification of limitations including but not limited to the specificity of the case study report.
- Full Text:
- Date Issued: 2008
- Authors: Bleske, Adrian
- Date: 2008
- Subjects: Standard Bank Properties , Banks and banking -- South Africa , Banks and banking -- Customer services -- South Africa , Financial services industry -- South Africa , Bank management -- South Africa , Banks and banking -- Customer services -- Effect of marketing on
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:840 , http://hdl.handle.net/10962/d1015482
- Description: The following is a case study report on the Cape Town business unit of Standard Bank Properties. The research project falls within the ambit of services marketing which introduces several unique management challenges for service businesses that sell services as a core offering. The principal aim of the case study is to gain an understanding of why customers bank at the business unit and to discover what aspects are critical to customer satisfaction. A further goal of the research is to examine how the business unit could improve customer satisfaction and to highlight any impediments to further improving customer satisfaction at the business unit. It is generally regarded that quality customer service is essential to building customer relationships and hence the research project emphasis on services marketing and customer satisfaction within a financial services context. The paper commences with an overview of the South African Banking Sector and its unique challenges such as the Financial Service Charter and newly introduced legislation such as Financial Intelligence Centre Act. The case study will specifically investigate the property finance industry and a detailed analysis of the business unit's operations and process flow will also be undertaken. The reason for this background information is to assist the reader to understand how the business unit operates. The research project will investigate four unique differences between goods marketing and services marketing whereafter three theoretical propositions are introduced, namely the dyadic interaction and service encounter, the Service Profit Chain and finally Relationship Marketing. Evidence in the form of a narrative will be led from insights obtained from interviews conducted with customers and staff at the business unit against these propositions with support (or otherwise) from independent surveys and documents from the business unit. The result of this analysis is the identification of several areas of concern specifically: New employees and the service encounter, Problems with FICA, Lack of a customer complaint handling system, Empowerment issues, Turnaround times, Reliance on key staff These insights together with the evidence from the literature review will be analysed and several recommendations made to improve customer service and ultimately customer satisfaction at the business unit. Several recommendations for further research are offered as well as the identification of limitations including but not limited to the specificity of the case study report.
- Full Text:
- Date Issued: 2008
The development of a total quality management organisational culture for Eden District Municipality
- Authors: Jantjies, Xavier
- Date: 2008
- Subjects: Total quality management -- South Africa -- Eden district municipality , Total quality management in government -- South Africa -- Eden district municipality , Organizational effectiveness , Industrial management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8708 , http://hdl.handle.net/10948/988 , Total quality management -- South Africa -- Eden district municipality , Total quality management in government -- South Africa -- Eden district municipality , Organizational effectiveness , Industrial management
- Description: Local governments are under tremendous pressure to control their costs and improve their services. Managing quality at local government level implies an enormous upheaval in organisational culture. The changing environment calls for new approaches to meeting the organisation’s mission. Total quality management is one of the tools, which government organisations are embracing to meet the growing demand of a changing environment. This paper will discuss the quest for service excellence and continuous improvement and the role of employees in total quality management and how this can be maximized by managers. It will also focus on cultural transformation principles that are useful in promoting quality processes and output and consequently service excellence in an organisation. The main objective of this research study is to investigate how a total quality management organisational culture can be developed at Eden District Municipality. To realize it, the current organisational culture at Eden District Municipality was analysed to determine what should be done. A literature review was conducted to determine the components of a total quality management organisational culture. All this information was used to formulate an approach for the development of a total quality management organisational culture. The empirical study involved a questionnaire, a sample and statistical analysis adapted to solve the main and sub-problems of the study. The research data indicated that Eden District Municipality does not support a total quality management organisational culture.
- Full Text:
- Date Issued: 2008
- Authors: Jantjies, Xavier
- Date: 2008
- Subjects: Total quality management -- South Africa -- Eden district municipality , Total quality management in government -- South Africa -- Eden district municipality , Organizational effectiveness , Industrial management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8708 , http://hdl.handle.net/10948/988 , Total quality management -- South Africa -- Eden district municipality , Total quality management in government -- South Africa -- Eden district municipality , Organizational effectiveness , Industrial management
- Description: Local governments are under tremendous pressure to control their costs and improve their services. Managing quality at local government level implies an enormous upheaval in organisational culture. The changing environment calls for new approaches to meeting the organisation’s mission. Total quality management is one of the tools, which government organisations are embracing to meet the growing demand of a changing environment. This paper will discuss the quest for service excellence and continuous improvement and the role of employees in total quality management and how this can be maximized by managers. It will also focus on cultural transformation principles that are useful in promoting quality processes and output and consequently service excellence in an organisation. The main objective of this research study is to investigate how a total quality management organisational culture can be developed at Eden District Municipality. To realize it, the current organisational culture at Eden District Municipality was analysed to determine what should be done. A literature review was conducted to determine the components of a total quality management organisational culture. All this information was used to formulate an approach for the development of a total quality management organisational culture. The empirical study involved a questionnaire, a sample and statistical analysis adapted to solve the main and sub-problems of the study. The research data indicated that Eden District Municipality does not support a total quality management organisational culture.
- Full Text:
- Date Issued: 2008
The effectiveness of blood donor education programmes in secondary schools in Mthatha (Eastern Cape)
- Authors: Manjezi, Miseka Elizabeth
- Date: 2008
- Subjects: Blood -- Transfusion -- Social aspects -- South Africa -- Eastern Cape , Blood donors -- South Africa -- Eastern Cape -- Attitudes
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8701 , http://hdl.handle.net/10948/1010 , Blood -- Transfusion -- Social aspects -- South Africa -- Eastern Cape , Blood donors -- South Africa -- Eastern Cape -- Attitudes
- Description: The dissertation takes the form of an impact study. It is based on a ten month period of research involving a literature review, interviews with headmasters of secondary schools who gave permission to survey their students, educational talks to secondary school learners and a survey of 500 learners from different schools in the Mthatha region. Purpose: The research endeavour addressed the problem of investigating the effectiveness of blood donor education in secondary schools in Mthatha region. Design/methodology/approach: This study employed a questionnaire-based survey. Five schools namely Mthatha High School, Holy Cross High School, Strategic High School; St Johns’ College and Zamukulungisa High School participated in this study. The Statistical Analysis System was employed to assess the association between the awareness strategies and general donor response. A chi–square test of association, based on the p –value approach, was used to achieve the results. Findings: This study finds that a blood donor education programme can increase blood donation awareness; benefit the schools and community, thus increasing the blood donor base. Receiving information as to the criteria for blood donation and how each individual donation is used to save a life is seen as a powerful means of reinforcement. Research limitations/implications: Further research is recommended on a large scale, involving all schools in Mthatha region. The research was delayed because it employed a new approach and a team had to be appointed before the blood donor centre can be opened. It is further recommended a once–off educational programme is not ideal because learners may not have received blood donation education before and should be repeated in follow-up sessions. Originality: This is the first research study looking at the effectiveness of a blood donor education programme in Mthatha secondary schools.
- Full Text:
- Date Issued: 2008
The effectiveness of blood donor education programmes in secondary schools in Mthatha (Eastern Cape)
- Authors: Manjezi, Miseka Elizabeth
- Date: 2008
- Subjects: Blood -- Transfusion -- Social aspects -- South Africa -- Eastern Cape , Blood donors -- South Africa -- Eastern Cape -- Attitudes
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8701 , http://hdl.handle.net/10948/1010 , Blood -- Transfusion -- Social aspects -- South Africa -- Eastern Cape , Blood donors -- South Africa -- Eastern Cape -- Attitudes
- Description: The dissertation takes the form of an impact study. It is based on a ten month period of research involving a literature review, interviews with headmasters of secondary schools who gave permission to survey their students, educational talks to secondary school learners and a survey of 500 learners from different schools in the Mthatha region. Purpose: The research endeavour addressed the problem of investigating the effectiveness of blood donor education in secondary schools in Mthatha region. Design/methodology/approach: This study employed a questionnaire-based survey. Five schools namely Mthatha High School, Holy Cross High School, Strategic High School; St Johns’ College and Zamukulungisa High School participated in this study. The Statistical Analysis System was employed to assess the association between the awareness strategies and general donor response. A chi–square test of association, based on the p –value approach, was used to achieve the results. Findings: This study finds that a blood donor education programme can increase blood donation awareness; benefit the schools and community, thus increasing the blood donor base. Receiving information as to the criteria for blood donation and how each individual donation is used to save a life is seen as a powerful means of reinforcement. Research limitations/implications: Further research is recommended on a large scale, involving all schools in Mthatha region. The research was delayed because it employed a new approach and a team had to be appointed before the blood donor centre can be opened. It is further recommended a once–off educational programme is not ideal because learners may not have received blood donation education before and should be repeated in follow-up sessions. Originality: This is the first research study looking at the effectiveness of a blood donor education programme in Mthatha secondary schools.
- Full Text:
- Date Issued: 2008
The importance of managerial skills for medical doctors
- Authors: Ngxukumeshe, Tandiswa
- Date: 2008
- Subjects: Physician executives -- South Africa -- Port Elizabeth , Management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8709 , http://hdl.handle.net/10948/977 , Physician executives -- South Africa -- Port Elizabeth , Management
- Description: The role played by medical doctors and the employment positions they hold in South Africa and in the world today has shifted from being clinical only to include management. They were once only responsible for patient care, now are responsible for their organization's management. Physician managers have difficult tasks for which medical school provides no preparation. Doctors in an assortment of roles take on management responsibilities to varying degrees: these may be a single-handed private practitioner or lead a small clinical team; or a clinical or medical director or a chief executive; or hold senior management positions in National or Regional Legislature. Some are also managing and supervising colleagues in public or private hospitals and are responsible for managing budgets, allocation of resources; developing policies and making other management decisions. These roles require knowledge and competence of managerial skills in order to facilitate and lead in an effective and efficient manner. This study revealed that medical doctors, as business owners, in Mercantile Hospital are running their businesses, the medical private practices, without any managerial skills’ training. There was a general consensus that there is a need for managerial skills in any business and the respondents confirmed that managerial skills are important and necessary for the successful achievement of goals in a medical private practice.
- Full Text:
- Date Issued: 2008
- Authors: Ngxukumeshe, Tandiswa
- Date: 2008
- Subjects: Physician executives -- South Africa -- Port Elizabeth , Management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8709 , http://hdl.handle.net/10948/977 , Physician executives -- South Africa -- Port Elizabeth , Management
- Description: The role played by medical doctors and the employment positions they hold in South Africa and in the world today has shifted from being clinical only to include management. They were once only responsible for patient care, now are responsible for their organization's management. Physician managers have difficult tasks for which medical school provides no preparation. Doctors in an assortment of roles take on management responsibilities to varying degrees: these may be a single-handed private practitioner or lead a small clinical team; or a clinical or medical director or a chief executive; or hold senior management positions in National or Regional Legislature. Some are also managing and supervising colleagues in public or private hospitals and are responsible for managing budgets, allocation of resources; developing policies and making other management decisions. These roles require knowledge and competence of managerial skills in order to facilitate and lead in an effective and efficient manner. This study revealed that medical doctors, as business owners, in Mercantile Hospital are running their businesses, the medical private practices, without any managerial skills’ training. There was a general consensus that there is a need for managerial skills in any business and the respondents confirmed that managerial skills are important and necessary for the successful achievement of goals in a medical private practice.
- Full Text:
- Date Issued: 2008
The role of an administrator in hedge fund operational risk management
- Authors: Schutte, Juane
- Date: 2008
- Subjects: Hedge funds -- South Africa -- Management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8724 , http://hdl.handle.net/10948/891 , Hedge funds -- South Africa -- Management
- Description: With the financial crisis of 2008 and more retirement funds and insurance companies entering the hedge fund industry, the safety of investor assets has become vital. According to a worldwide study by Kundro and Feffer (2002:42), operational risk factors account for almost half of hedge fund failures. The issues that underlie the operational risk factors relate to valuation of the fund’s assets and liabilities. Unless certain valuation practices become more widespread, hedge funds face a potential crisis of confidence with institutional and high net worth investors (Kundro and Feffer, 2002:42). Despite the improvements made by administrators to deal with the complexities of hedge fund investments, the accuracy of some valuations remains open to question (McVea 2008:135). Hedge fund manager inputs into valuations compromise the degree of independence exercised, particularly with regard to complex and/or illiquid instruments. The perception that administrators lack the required technical expertise to value complex and/or illiquid assets exacerbates the issue of administrator’s reliability to provide independent valuations. Therefore, the reliance on administrators to guarantee the quality of valuations of complex instruments is in question. The aim of the study was to identify ways to improve operational risk management practices, particularly valuations, in hedge funds through identifying ways of promoting effective functioning of independent third-party administrators. This was achieved through a case study approach using a South African leading administrator, Investment Data Services, as the object of study. The literature highlighted the changing functions of administrators, the challenges facing them and ways of addressing those challenges. The empirical study measured the extent of IDS’ valuation practices in managing operational risk in hedge funds. Four key members of IDS’ management team and one hedge fund manager with considerable insight were interviewed. The data obtained was then reduced into meaningful results. The empirical findings were compared with the theory provided in the literature scrutiny to identify ways of improving the valuation function. The conclusion was that the challenges faced by the administrator were addressed through proper independence, consistency and transparency of the valuation process. A crucial cog in IDS’ wheel is the employment of staff with the required technical skills to understand complex financial instruments. In addition, investment in advanced systems and technology is important in managing the risks involved. Consequently, IDS’ valuation practices can be used as template for other administrators in their efforts to manage the operational risks in hedge funds.
- Full Text:
- Date Issued: 2008
- Authors: Schutte, Juane
- Date: 2008
- Subjects: Hedge funds -- South Africa -- Management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8724 , http://hdl.handle.net/10948/891 , Hedge funds -- South Africa -- Management
- Description: With the financial crisis of 2008 and more retirement funds and insurance companies entering the hedge fund industry, the safety of investor assets has become vital. According to a worldwide study by Kundro and Feffer (2002:42), operational risk factors account for almost half of hedge fund failures. The issues that underlie the operational risk factors relate to valuation of the fund’s assets and liabilities. Unless certain valuation practices become more widespread, hedge funds face a potential crisis of confidence with institutional and high net worth investors (Kundro and Feffer, 2002:42). Despite the improvements made by administrators to deal with the complexities of hedge fund investments, the accuracy of some valuations remains open to question (McVea 2008:135). Hedge fund manager inputs into valuations compromise the degree of independence exercised, particularly with regard to complex and/or illiquid instruments. The perception that administrators lack the required technical expertise to value complex and/or illiquid assets exacerbates the issue of administrator’s reliability to provide independent valuations. Therefore, the reliance on administrators to guarantee the quality of valuations of complex instruments is in question. The aim of the study was to identify ways to improve operational risk management practices, particularly valuations, in hedge funds through identifying ways of promoting effective functioning of independent third-party administrators. This was achieved through a case study approach using a South African leading administrator, Investment Data Services, as the object of study. The literature highlighted the changing functions of administrators, the challenges facing them and ways of addressing those challenges. The empirical study measured the extent of IDS’ valuation practices in managing operational risk in hedge funds. Four key members of IDS’ management team and one hedge fund manager with considerable insight were interviewed. The data obtained was then reduced into meaningful results. The empirical findings were compared with the theory provided in the literature scrutiny to identify ways of improving the valuation function. The conclusion was that the challenges faced by the administrator were addressed through proper independence, consistency and transparency of the valuation process. A crucial cog in IDS’ wheel is the employment of staff with the required technical skills to understand complex financial instruments. In addition, investment in advanced systems and technology is important in managing the risks involved. Consequently, IDS’ valuation practices can be used as template for other administrators in their efforts to manage the operational risks in hedge funds.
- Full Text:
- Date Issued: 2008
The Southern African Development Community's attraction to foreign direct investment
- Authors: Botha, Richard Kruger
- Date: 2008
- Subjects: Southern African Development Community , Africa, Southern -- Foreign economic relations , Africa, Southern -- Economic integration , Africa, Southern -- Economic conditions
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8716 , http://hdl.handle.net/10948/926 , Southern African Development Community , Africa, Southern -- Foreign economic relations , Africa, Southern -- Economic integration , Africa, Southern -- Economic conditions
- Description: In order to assess the question as to whether the Southern African Development Community in principle attracts foreign direct investment, literature and data have been cited that compared the economic profiles and relative privatisation programs of member states of the Southern African Development Community with relative high inflows of foreign direct investment with the economic profiles and relative privatisation programs of member states with relative low inflows of foreign direct investment. Qualitative research has been conducted, and the author is of opinion that generally the member states with relative high foreign direct investment inflows had economic profiles and relative privatisation programs that encouraged foreign direct investment, and member states with relative low foreign direct investment inflows had economic profiles and relative privatisation programs that deterred foreign direct investment inflows. From the above the author has inferred that the Southern African Development Community in principle attracted foreign direct investment, but not to its full potential. The reason may be that although the member states’ economic profiles are favourable for foreign direct investment, their economic growths tend to fluctuate, and the future economic profiles are therefore unpredictable. With the above in mind this mini-treatise aims to address the question as to what steps the governments of the Southern African Development Community’s member states could follow in order to attract foreign direct investment. iii The author is of opinion that the member states should endeavour to maintain an annual average economic growth rate, and that the governments continue to engage into privatisation programs in order to encourage foreign direct investment.
- Full Text:
- Date Issued: 2008
- Authors: Botha, Richard Kruger
- Date: 2008
- Subjects: Southern African Development Community , Africa, Southern -- Foreign economic relations , Africa, Southern -- Economic integration , Africa, Southern -- Economic conditions
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8716 , http://hdl.handle.net/10948/926 , Southern African Development Community , Africa, Southern -- Foreign economic relations , Africa, Southern -- Economic integration , Africa, Southern -- Economic conditions
- Description: In order to assess the question as to whether the Southern African Development Community in principle attracts foreign direct investment, literature and data have been cited that compared the economic profiles and relative privatisation programs of member states of the Southern African Development Community with relative high inflows of foreign direct investment with the economic profiles and relative privatisation programs of member states with relative low inflows of foreign direct investment. Qualitative research has been conducted, and the author is of opinion that generally the member states with relative high foreign direct investment inflows had economic profiles and relative privatisation programs that encouraged foreign direct investment, and member states with relative low foreign direct investment inflows had economic profiles and relative privatisation programs that deterred foreign direct investment inflows. From the above the author has inferred that the Southern African Development Community in principle attracted foreign direct investment, but not to its full potential. The reason may be that although the member states’ economic profiles are favourable for foreign direct investment, their economic growths tend to fluctuate, and the future economic profiles are therefore unpredictable. With the above in mind this mini-treatise aims to address the question as to what steps the governments of the Southern African Development Community’s member states could follow in order to attract foreign direct investment. iii The author is of opinion that the member states should endeavour to maintain an annual average economic growth rate, and that the governments continue to engage into privatisation programs in order to encourage foreign direct investment.
- Full Text:
- Date Issued: 2008
The use of mobile commerce to improve the services of life insurance post sale activities
- Authors: Afrifa, Rexford
- Date: 2008
- Subjects: Mobile commerce -- South Africa , Mobile computing -- South Africa , Mobile communication systems -- South Africa , Personal communication service systems -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8718 , http://hdl.handle.net/10948/913 , Mobile commerce -- South Africa , Mobile computing -- South Africa , Mobile communication systems -- South Africa , Personal communication service systems -- South Africa
- Description: Mobile commerce, due to its inherent characteristics of mobility and reachability in enhancing personalized services provides an excellent means for life insurers to exploit such avenue in their service offerings. The objective of this study was to determine whether mobile commerce can be used to improve the services of life insurance post-sale activities. This objective was achieved with the relevant literature and empirical study. To accomplish the objective of this treatise, a triangulated research approach was selected and a multiple-case study consisting of four cases was conducted. The four cases selected comprised of leading insurers with large market share in the life insurance market in South-Africa. The primary data were collected through questionnaire and face-to-face interviews with selected respondents. The main finding shows that the respondents had a positive view about mobile commerce and its application in their companies. This was demonstrated by 80 percent of respondents who agreed that mobile commerce was more of an opportunity rather than a challenge or even a threat for the life insurance market. The results also indicate that customer relationship management, mobile messaging services and field service automation functions were used by all the insurers; although minor discrepancies were observed due to the efficiency of each firms IT infrastructure. The Internet was found to assist in the collection of more precise data, to increase service performing abilities. Some of the major obstacles that were found to hinder the deployment of mobile commerce in the industry were security concerns, low and infrequent internet usage and performance by supporting industries. Cumbersome and inefficient legacy systems were declared as the greatest technological weakness particularly by respondents from case 1 and 2. Conversely, hardware and network infrastructure, lack of software packages, lack of technical expertise and the fear of disintermediation was rated low in hindering the deployment of mobile commerce. However, according to the findings the key benefits derived from engaging in increased mobile commerce activities include enhancing customer contact and service, more transparency and speed of claims management, increasing client retention and policy extension rates hence increasing overall company profit.
- Full Text:
- Date Issued: 2008
- Authors: Afrifa, Rexford
- Date: 2008
- Subjects: Mobile commerce -- South Africa , Mobile computing -- South Africa , Mobile communication systems -- South Africa , Personal communication service systems -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8718 , http://hdl.handle.net/10948/913 , Mobile commerce -- South Africa , Mobile computing -- South Africa , Mobile communication systems -- South Africa , Personal communication service systems -- South Africa
- Description: Mobile commerce, due to its inherent characteristics of mobility and reachability in enhancing personalized services provides an excellent means for life insurers to exploit such avenue in their service offerings. The objective of this study was to determine whether mobile commerce can be used to improve the services of life insurance post-sale activities. This objective was achieved with the relevant literature and empirical study. To accomplish the objective of this treatise, a triangulated research approach was selected and a multiple-case study consisting of four cases was conducted. The four cases selected comprised of leading insurers with large market share in the life insurance market in South-Africa. The primary data were collected through questionnaire and face-to-face interviews with selected respondents. The main finding shows that the respondents had a positive view about mobile commerce and its application in their companies. This was demonstrated by 80 percent of respondents who agreed that mobile commerce was more of an opportunity rather than a challenge or even a threat for the life insurance market. The results also indicate that customer relationship management, mobile messaging services and field service automation functions were used by all the insurers; although minor discrepancies were observed due to the efficiency of each firms IT infrastructure. The Internet was found to assist in the collection of more precise data, to increase service performing abilities. Some of the major obstacles that were found to hinder the deployment of mobile commerce in the industry were security concerns, low and infrequent internet usage and performance by supporting industries. Cumbersome and inefficient legacy systems were declared as the greatest technological weakness particularly by respondents from case 1 and 2. Conversely, hardware and network infrastructure, lack of software packages, lack of technical expertise and the fear of disintermediation was rated low in hindering the deployment of mobile commerce. However, according to the findings the key benefits derived from engaging in increased mobile commerce activities include enhancing customer contact and service, more transparency and speed of claims management, increasing client retention and policy extension rates hence increasing overall company profit.
- Full Text:
- Date Issued: 2008
The value of the middleman in the supply chain of South African tyre production
- Authors: Cornelius, André G
- Date: 2008
- Subjects: Tires -- Industrialists -- South Africa Tire Industry -- South Africa Commercial agents -- South Africa Business logistics -- Management -- South Africa Physical distribution of goods -- Management Commercial agents -- South Africa Marketing channels -- Management -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:770 , http://hdl.handle.net/10962/d1003891
- Description: Only a few middlemen linking chemical intermediate product supply to world tyre productions have managed to survive new direct business models. In fact, the only region, where the practice of using a middleman in the supply chain of tyre production, for a certain primary manufacturer, is in South Africa. Tyre producers in other world regions, similar in market complexity to South Africa, have experienced the elimination of the middleman. Hence the question of this research, why is the middleman in the supply chain of tyre production in South Africa still a better option than that of direct business models? To begin with, the thesis stated that the middleman in the supply chain of South African tyre producers delivers better value than that of the direct business model. To prove/disprove this thesis, the principle that value is a trade-off between what you get for what you give was the basis of this research (Zeithaml, 1998). Further, a model was developed, from secondary literature, to conceptualise this trade-off to provide evidence to prove/disprove that the middleman provides greater value than value from the direct business model. From this point, the research approach was to collect data through interviews to find out the most important aspect of value created by the middleman. Data collected were analysed, using the structure of the model as a guide, to find evidence of the trade-off. This analysis provided evidence that the relationship between the middleman and the tyre producers in South Africa and between the middleman and primary product supplier is the value that the direct business model cannot replace.
- Full Text:
- Date Issued: 2008
- Authors: Cornelius, André G
- Date: 2008
- Subjects: Tires -- Industrialists -- South Africa Tire Industry -- South Africa Commercial agents -- South Africa Business logistics -- Management -- South Africa Physical distribution of goods -- Management Commercial agents -- South Africa Marketing channels -- Management -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:770 , http://hdl.handle.net/10962/d1003891
- Description: Only a few middlemen linking chemical intermediate product supply to world tyre productions have managed to survive new direct business models. In fact, the only region, where the practice of using a middleman in the supply chain of tyre production, for a certain primary manufacturer, is in South Africa. Tyre producers in other world regions, similar in market complexity to South Africa, have experienced the elimination of the middleman. Hence the question of this research, why is the middleman in the supply chain of tyre production in South Africa still a better option than that of direct business models? To begin with, the thesis stated that the middleman in the supply chain of South African tyre producers delivers better value than that of the direct business model. To prove/disprove this thesis, the principle that value is a trade-off between what you get for what you give was the basis of this research (Zeithaml, 1998). Further, a model was developed, from secondary literature, to conceptualise this trade-off to provide evidence to prove/disprove that the middleman provides greater value than value from the direct business model. From this point, the research approach was to collect data through interviews to find out the most important aspect of value created by the middleman. Data collected were analysed, using the structure of the model as a guide, to find evidence of the trade-off. This analysis provided evidence that the relationship between the middleman and the tyre producers in South Africa and between the middleman and primary product supplier is the value that the direct business model cannot replace.
- Full Text:
- Date Issued: 2008