Wealth creation in historically disadvantaged communities through share participation in small business ventures
- Authors: Vosloo, Arnoldus Francois
- Date: 2014-08-05
- Subjects: Blacks - South Africa - Economic conditions , Informal sector (Economics) - South Africa , Small business - South Africa , Stock transfer - South Africa
- Type: Thesis
- Identifier: uj:11973 , http://hdl.handle.net/10210/11700
- Description: M.Com. (Business Management) , Please refer to full text to view abstract
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- Authors: Vosloo, Arnoldus Francois
- Date: 2014-08-05
- Subjects: Blacks - South Africa - Economic conditions , Informal sector (Economics) - South Africa , Small business - South Africa , Stock transfer - South Africa
- Type: Thesis
- Identifier: uj:11973 , http://hdl.handle.net/10210/11700
- Description: M.Com. (Business Management) , Please refer to full text to view abstract
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Relative importance of company financial statements in investment analysis
- Authors: Bruinette, Albert J.M.
- Date: 2014-02-10
- Subjects: Business enterprises - Valuation , Financial statements , Corporations - Finance
- Type: Thesis
- Identifier: uj:3725 , http://hdl.handle.net/10210/9105
- Description: M.Comm. , Please refer to full text to view abstract
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- Authors: Bruinette, Albert J.M.
- Date: 2014-02-10
- Subjects: Business enterprises - Valuation , Financial statements , Corporations - Finance
- Type: Thesis
- Identifier: uj:3725 , http://hdl.handle.net/10210/9105
- Description: M.Comm. , Please refer to full text to view abstract
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Instandhouding van kapitaalstruktuur deur standhoudende kontantvloei
- Authors: Prinsloo, Paul Jacobus
- Date: 2014-03-11
- Subjects: Cash management , Cash flow , Budget in business
- Type: Thesis
- Identifier: http://ujcontent.uj.ac.za8080/10210/382732 , uj:4269 , http://hdl.handle.net/10210/9625
- Description: M.Com. (Business Management) , The objective of this study is to establish an alternative method in the presentation of cash flow information in order to provide management with a more effective technique to assist them in their decision making process. The presentation of cash flow information in accordance with current South African accounting standards, includes movements in working capital to maintain operations as part of deriving the amount of cash retained from operating activities. In this study it is suggested that movements in working capital should be treated similarly to that of fixed assets in the cash flow statements. This implies that movements in working capital should be included in cash utilised in investing activities with a distinction being made between maintaining and expanding operations. From literature available a model was developed to incorporate the change in presentation of movements in working capital. This change in the presentation of cash flow information enables management to determine whether dividends are in fact paid from internally generated cash or not. This model was applied to financial information of seven companies quoted on the Johannesburg Stock Exchange. The results are presented in Appendix 1 to this study where it is demonstrated that the model developed provides a more efficient method for cash flow reporting and that it can be adopted by management in their decision making process...
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- Authors: Prinsloo, Paul Jacobus
- Date: 2014-03-11
- Subjects: Cash management , Cash flow , Budget in business
- Type: Thesis
- Identifier: http://ujcontent.uj.ac.za8080/10210/382732 , uj:4269 , http://hdl.handle.net/10210/9625
- Description: M.Com. (Business Management) , The objective of this study is to establish an alternative method in the presentation of cash flow information in order to provide management with a more effective technique to assist them in their decision making process. The presentation of cash flow information in accordance with current South African accounting standards, includes movements in working capital to maintain operations as part of deriving the amount of cash retained from operating activities. In this study it is suggested that movements in working capital should be treated similarly to that of fixed assets in the cash flow statements. This implies that movements in working capital should be included in cash utilised in investing activities with a distinction being made between maintaining and expanding operations. From literature available a model was developed to incorporate the change in presentation of movements in working capital. This change in the presentation of cash flow information enables management to determine whether dividends are in fact paid from internally generated cash or not. This model was applied to financial information of seven companies quoted on the Johannesburg Stock Exchange. The results are presented in Appendix 1 to this study where it is demonstrated that the model developed provides a more efficient method for cash flow reporting and that it can be adopted by management in their decision making process...
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Die ontleding van die tendense vir handhaafbare groei by geselekteerde ondernemings
- Authors: Louw, Tobie
- Date: 2014-05-08
- Subjects: Industrial management , Strategic planning - South Africa - Case studies
- Type: Thesis
- Identifier: uj:10984 , http://hdl.handle.net/10210/10557
- Description: M.Com. (Business Management) , The fact that growth is important for the survival of a business cannot be contradicted. It is however, necessary to plan the growth of a business and to keep it within the means of the business. To measure this growth in a meaningful manner, poses a problem. Various definitions for the ideal growth rate, referred to as sustainable growth, do exist. In essence it is the ability of the company to grow without any negative effects on the resources of the company. In managerial and financial literature, models on the aspect of sustainable growth have been developed. In this study these models have been critically analysed and applied to eleven companies quoted on the J.S.E. A comparison of the results, derived from these models, were made and it was found that there were substantial differences in the proposed growth rates. None of these models mentioned, allowed for the effect of inflation. An additional model was developed to eliminate the effect of inflation on growth. The principle of this model was to calculate the growth necessary to maintain business activities at the same levels. All funds in excess of, the financing needed to maintain current activity levels, were available for expansion and growth. This new proposed model was also applied to the same companies for the years investigated. The results were compared and the calculated growth rates from the existing models were not indicative of the real situation, regarding the after inflation growth potential of the companies. It was obvious in the results of the new model, that much less funds were available for growth. Should a company exceeds this proposed level of growth, the company is actually depleting the existing resources and become more dependent on additional borrowed funds. Investors and managers can use this model as a mechanism to predict, plan, manage and monitor the sustainable growth of a business.
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- Authors: Louw, Tobie
- Date: 2014-05-08
- Subjects: Industrial management , Strategic planning - South Africa - Case studies
- Type: Thesis
- Identifier: uj:10984 , http://hdl.handle.net/10210/10557
- Description: M.Com. (Business Management) , The fact that growth is important for the survival of a business cannot be contradicted. It is however, necessary to plan the growth of a business and to keep it within the means of the business. To measure this growth in a meaningful manner, poses a problem. Various definitions for the ideal growth rate, referred to as sustainable growth, do exist. In essence it is the ability of the company to grow without any negative effects on the resources of the company. In managerial and financial literature, models on the aspect of sustainable growth have been developed. In this study these models have been critically analysed and applied to eleven companies quoted on the J.S.E. A comparison of the results, derived from these models, were made and it was found that there were substantial differences in the proposed growth rates. None of these models mentioned, allowed for the effect of inflation. An additional model was developed to eliminate the effect of inflation on growth. The principle of this model was to calculate the growth necessary to maintain business activities at the same levels. All funds in excess of, the financing needed to maintain current activity levels, were available for expansion and growth. This new proposed model was also applied to the same companies for the years investigated. The results were compared and the calculated growth rates from the existing models were not indicative of the real situation, regarding the after inflation growth potential of the companies. It was obvious in the results of the new model, that much less funds were available for growth. Should a company exceeds this proposed level of growth, the company is actually depleting the existing resources and become more dependent on additional borrowed funds. Investors and managers can use this model as a mechanism to predict, plan, manage and monitor the sustainable growth of a business.
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Implementering van regstellende aksie in die rekeningkundige professie in Suid-Afrika
- Authors: Maree, A.
- Date: 2015-03-18
- Subjects: Affirmative action programs - South Africa
- Type: Thesis
- Identifier: uj:13472 , http://hdl.handle.net/10210/13506
- Description: M.Com. (Business Management) , Please refer to full text to view abstract
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- Authors: Maree, A.
- Date: 2015-03-18
- Subjects: Affirmative action programs - South Africa
- Type: Thesis
- Identifier: uj:13472 , http://hdl.handle.net/10210/13506
- Description: M.Com. (Business Management) , Please refer to full text to view abstract
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The alignment of organisation strategy and risk appetite in the financial services industry
- Authors: Schikker, Sijbren
- Date: 2014-10-08
- Subjects: Strategic planning , Risk management , Financial services industry
- Type: Thesis
- Identifier: uj:12554 , http://hdl.handle.net/10210/12346
- Description: M.Com. (Business Management) , This study concerns itself with the concepts of strategy, risk management and risk appetite. Strategy and risk management playa very important role in any business, but it is very difficult to determine the interrelationship between strategy and risk. There is no scientific/academic proof and there is no model or framework on what the alignment between an organisation's strategy and risk appetite is. Therefore, the purpose of this study is to develop a risk appetite model to align an organisation's strategy and risk management, so that management will be able to improve its decision-making. The research design is based on a qualitative evaluation of the various literature concepts on strategy, risk management and risk appetite. Furthermore, personal interviews were held with senior risk, strategy and financial managers in the South African financial services industry to test the risk appetite model and determine the relevance and robustness of the risk appetite model. The main findings of this study revealed that: • to take full advantage of business opportunities, risk management and strategy cannot operate independently in any organisation; they must be integrated or at least linked with one another; • risk appetite is an important concept on its own, but is even more crucial as the link between risk management and strategy; • most financial services organisations assume that there is a link between risk management, strategy and risk appetite but that there is no formal processor framework available to link the three concepts; • effective risk management enables financial services organisations to achieve a competitive advantage, which is achieved by optimising risks and rewards; and • organisations that probably will withstand future crises are those with appropriate enterprise risk management practices in place where risk and strategy are linked with each other; and the risk appetite model can play an important role in achieving this goal. The main conclusion is that the risk appetite model is the formal framework to integrate risk management with strategy, because the model: • takes a holistic view to risk management; • allows all employees at all levels to understand risk appetite because it is quantitative and not too mathematical; • utilises risk appetite as the "gel" to link strategy and risk management; • allows for measured decision-making and proper governing; • allows organisations to be proactive in their risk management; • takes the upside and downside of risk into consideration; • gives strategic direction to the business; and • addresses all the important steps to integrate risk management, risk appetite and strategy. Lastly, for the risk appetite model to be successful it is essential to: • have buy-in from everyone in the organisation; • have the right governance in place to ensure the effective implementation and communication of the organisation's risk appetite; and • continuously monitor the organisation's risk appetite.
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- Authors: Schikker, Sijbren
- Date: 2014-10-08
- Subjects: Strategic planning , Risk management , Financial services industry
- Type: Thesis
- Identifier: uj:12554 , http://hdl.handle.net/10210/12346
- Description: M.Com. (Business Management) , This study concerns itself with the concepts of strategy, risk management and risk appetite. Strategy and risk management playa very important role in any business, but it is very difficult to determine the interrelationship between strategy and risk. There is no scientific/academic proof and there is no model or framework on what the alignment between an organisation's strategy and risk appetite is. Therefore, the purpose of this study is to develop a risk appetite model to align an organisation's strategy and risk management, so that management will be able to improve its decision-making. The research design is based on a qualitative evaluation of the various literature concepts on strategy, risk management and risk appetite. Furthermore, personal interviews were held with senior risk, strategy and financial managers in the South African financial services industry to test the risk appetite model and determine the relevance and robustness of the risk appetite model. The main findings of this study revealed that: • to take full advantage of business opportunities, risk management and strategy cannot operate independently in any organisation; they must be integrated or at least linked with one another; • risk appetite is an important concept on its own, but is even more crucial as the link between risk management and strategy; • most financial services organisations assume that there is a link between risk management, strategy and risk appetite but that there is no formal processor framework available to link the three concepts; • effective risk management enables financial services organisations to achieve a competitive advantage, which is achieved by optimising risks and rewards; and • organisations that probably will withstand future crises are those with appropriate enterprise risk management practices in place where risk and strategy are linked with each other; and the risk appetite model can play an important role in achieving this goal. The main conclusion is that the risk appetite model is the formal framework to integrate risk management with strategy, because the model: • takes a holistic view to risk management; • allows all employees at all levels to understand risk appetite because it is quantitative and not too mathematical; • utilises risk appetite as the "gel" to link strategy and risk management; • allows for measured decision-making and proper governing; • allows organisations to be proactive in their risk management; • takes the upside and downside of risk into consideration; • gives strategic direction to the business; and • addresses all the important steps to integrate risk management, risk appetite and strategy. Lastly, for the risk appetite model to be successful it is essential to: • have buy-in from everyone in the organisation; • have the right governance in place to ensure the effective implementation and communication of the organisation's risk appetite; and • continuously monitor the organisation's risk appetite.
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