Die verhoging van rentabiliteit by in- en uitvoerondernemings : die effektiewe bestuur van buitelandse valutablootstellings
- Authors: Botes, Michael Johannes
- Date: 2015-03-18
- Subjects: Rate of return , Foreign exchange , Export trading companies , Trading companies
- Type: Thesis
- Identifier: uj:13456 , http://hdl.handle.net/10210/13492
- Description: M.Com. (Business Management) , After years of international isolation, South Africa has been re-admitted to the international fold. For the country's business community this entails new opportunities, as well as threats. International markets and finance opened up during the past year. It also led to South Africa signing the latest GAIT agreement. This will, enable foreign exporters to have access to the local market in the future, it will also encourage competition amongst local companies that previously mainly produced for domestic consumption. New markets will have to be exploited. These new opportunities and threats create new risks for companies entering these new markets. An important component of these new risks is the volatility in the foreign exchange market. Import and export companies receive and make payments in foreign. currencies. Unexpected movements in exchange rates can influence a company's profitability and competitiveness. Due to the size of the foreign exchange market, it is the most liquid and volatile market in the world. To minimise the risk and seize opportunities in adverse foreign exchange movements, currency exposure must be managed properly. Although integrated treasury management proves to be a successful approach in most industrial countries, it is a relatively new science, in South Africa. A large number of financial instruments exist for the hedging of foreign currency exposure. In South Africa' these options are limited, due to exchange. control regulations and this also hampers the number of hedging possibilities. Under different market conditions different hedging strategies and instruments can provide different results. There is one guarantee that a given instrument or strategy will result in the optimal hedge. It might even result in more inherent risks. Risk management is a dynamic activity within an organisation and calls for educated decisions to minimise risk and utilise opportunities.
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- Authors: Botes, Michael Johannes
- Date: 2015-03-18
- Subjects: Rate of return , Foreign exchange , Export trading companies , Trading companies
- Type: Thesis
- Identifier: uj:13456 , http://hdl.handle.net/10210/13492
- Description: M.Com. (Business Management) , After years of international isolation, South Africa has been re-admitted to the international fold. For the country's business community this entails new opportunities, as well as threats. International markets and finance opened up during the past year. It also led to South Africa signing the latest GAIT agreement. This will, enable foreign exporters to have access to the local market in the future, it will also encourage competition amongst local companies that previously mainly produced for domestic consumption. New markets will have to be exploited. These new opportunities and threats create new risks for companies entering these new markets. An important component of these new risks is the volatility in the foreign exchange market. Import and export companies receive and make payments in foreign. currencies. Unexpected movements in exchange rates can influence a company's profitability and competitiveness. Due to the size of the foreign exchange market, it is the most liquid and volatile market in the world. To minimise the risk and seize opportunities in adverse foreign exchange movements, currency exposure must be managed properly. Although integrated treasury management proves to be a successful approach in most industrial countries, it is a relatively new science, in South Africa. A large number of financial instruments exist for the hedging of foreign currency exposure. In South Africa' these options are limited, due to exchange. control regulations and this also hampers the number of hedging possibilities. Under different market conditions different hedging strategies and instruments can provide different results. There is one guarantee that a given instrument or strategy will result in the optimal hedge. It might even result in more inherent risks. Risk management is a dynamic activity within an organisation and calls for educated decisions to minimise risk and utilise opportunities.
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An optimised portfolio management model, incorporating best practices
- Authors: Naidoo, Yogan
- Date: 2015-06-29
- Subjects: Organizational effectiveness , Portfolio management , Strategic planning , Rate of return , Engineering - Management
- Type: Thesis
- Identifier: uj:13646 , http://hdl.handle.net/10210/13830
- Description: M.Ing. (Engineering Management) , Driving sustainability, optimising return on investments and cultivating a competitive market advantage, are imperative for organisational success and growth. In order to achieve the business objectives and value proposition, effective management strategies must be efficiently implemented, monitored and controlled. Failure to do so ultimately result in; financial loss due to increased capital and operational expenditure, schedule slippages, substandard delivery on quality and depreciation of market share. This research paper investigates and discusses management strategies with the focus on integration of effective portfolio management, efficient system development life cycles and optimal project control to ultimately drive organisational sustainability and growth. With the aid of this research, optimal decisions on project/organisational venture selection can be made. Furthermore, integrating portfolio management strategies with system development life cycles and optimal project control strategies, will optimise an organisational portfolio and enhance the probability of project and organisational success.
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- Authors: Naidoo, Yogan
- Date: 2015-06-29
- Subjects: Organizational effectiveness , Portfolio management , Strategic planning , Rate of return , Engineering - Management
- Type: Thesis
- Identifier: uj:13646 , http://hdl.handle.net/10210/13830
- Description: M.Ing. (Engineering Management) , Driving sustainability, optimising return on investments and cultivating a competitive market advantage, are imperative for organisational success and growth. In order to achieve the business objectives and value proposition, effective management strategies must be efficiently implemented, monitored and controlled. Failure to do so ultimately result in; financial loss due to increased capital and operational expenditure, schedule slippages, substandard delivery on quality and depreciation of market share. This research paper investigates and discusses management strategies with the focus on integration of effective portfolio management, efficient system development life cycles and optimal project control to ultimately drive organisational sustainability and growth. With the aid of this research, optimal decisions on project/organisational venture selection can be made. Furthermore, integrating portfolio management strategies with system development life cycles and optimal project control strategies, will optimise an organisational portfolio and enhance the probability of project and organisational success.
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The performance of sector-specific equity funds in South Africa
- Authors: Zeller, Stuart Phillip
- Date: 2016
- Subjects: Mutual funds , Investments , Rate of return
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/237339 , uj:24318
- Description: M.Com. (Finance) , Abstract: There is an abundance of research relating to the performance of actively managed funds such as unit trusts and passive exchange traded/index funds. This research stems from the investors’ dilemma as to which fund type should be selected to ensure best returns. An actively managed fund has the potential to outperform its market benchmark, but higher investment costs can cause these funds to underperform. Passive funds provide a lower cost alternative but only track the market benchmark. Current related research in the South African context is limited, and even more so within sector-specific funds. This study further develops the existing research through analyses of the performance of actively managed sector-specific equity funds in South Africa. The analysis is conducted on data over the time frame of 2003 to 2015 using various methods (cumulative, random, rolling and risk-adjusted). Results of this study varied by sector; the best performing was the industrial sector where industrial funds outperformed their benchmark both before and after costs. Financial sector funds performed the worst and, whilst mostly outperforming their benchmark before costs, always underperformed after costs. Resources sector funds provided mixed results but mostly outperformed the benchmark both before and after costs. Whilst this study does not provide information relating to the optimal composition of an investment portfolio, it does add to the current “active versus passive” research. The study provides the investor with additional insight as to which fund type to select for a portfolio when investing specifically in South African equity-based funds.
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- Authors: Zeller, Stuart Phillip
- Date: 2016
- Subjects: Mutual funds , Investments , Rate of return
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/237339 , uj:24318
- Description: M.Com. (Finance) , Abstract: There is an abundance of research relating to the performance of actively managed funds such as unit trusts and passive exchange traded/index funds. This research stems from the investors’ dilemma as to which fund type should be selected to ensure best returns. An actively managed fund has the potential to outperform its market benchmark, but higher investment costs can cause these funds to underperform. Passive funds provide a lower cost alternative but only track the market benchmark. Current related research in the South African context is limited, and even more so within sector-specific funds. This study further develops the existing research through analyses of the performance of actively managed sector-specific equity funds in South Africa. The analysis is conducted on data over the time frame of 2003 to 2015 using various methods (cumulative, random, rolling and risk-adjusted). Results of this study varied by sector; the best performing was the industrial sector where industrial funds outperformed their benchmark both before and after costs. Financial sector funds performed the worst and, whilst mostly outperforming their benchmark before costs, always underperformed after costs. Resources sector funds provided mixed results but mostly outperformed the benchmark both before and after costs. Whilst this study does not provide information relating to the optimal composition of an investment portfolio, it does add to the current “active versus passive” research. The study provides the investor with additional insight as to which fund type to select for a portfolio when investing specifically in South African equity-based funds.
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The importance of measuring return of marketing investments in the insurance industry
- Seobi, Mankone Lerato Precious
- Authors: Seobi, Mankone Lerato Precious
- Date: 2014-05-05
- Subjects: Marketing - Management , Capital investments - Evaluation , Rate of return
- Type: Thesis
- Identifier: uj:10920 , http://hdl.handle.net/10210/10494
- Description: M.Com. (Business Management) , The study focuses on the return on marketing investment (ROMI) in the life insurance industry in South Africa. Although this is a growing industry, it is characterised by high competitiveness and similar product offerings from the different insurance providers. Therefore, in competing for the larger market share, the companies differentiate themselves by relying more on their unique strengths. They compete by promoting themselves and their products through various above-the-line and below-the-line marketing activities and campaigns in order to drive sales, build awareness, manage reputations, and to be top of mind to consumers. This study focuses on establishing whether these various marketing activities are measured to determine whether they contribute to the bottom line/ profit margins (basic purpose of ROMI) and to what extent. The ultimate goal is to establish whether ROMI is considered as being important to measure in the life insurance industry and whether spending on marketing activities does contribute to profit margins. A total of 16 recognised life insurance companies were identified and a sample size of seven companies selected. The sampling frame consisted of marketing managers, who happened to be heads of departments in this case. Structured interviews were conducted with these managers, and feedback was transcribed and analysed. Only marketing managers were interviewed as they are directly responsible for the marketing budget, and are accountable for marketing spending and the overall success of the department. It was identified in the study that in order to measure ROMI, it starts by being accountable for the marketing spending. The overall results of the study indicate that spending on marketing does contribute to profits margins and that ROMI is considered by the life insurance industry as important to measure. The study was limited only to the Gauteng province, thus it can be generalised to the life insurance companies in South Africa, but cannot be generalised to other insurance industries, e.g. short-term insurance, thus allowing for the possibility of a comparative study in the future, in addition to future studies listed in chapter 5.
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- Authors: Seobi, Mankone Lerato Precious
- Date: 2014-05-05
- Subjects: Marketing - Management , Capital investments - Evaluation , Rate of return
- Type: Thesis
- Identifier: uj:10920 , http://hdl.handle.net/10210/10494
- Description: M.Com. (Business Management) , The study focuses on the return on marketing investment (ROMI) in the life insurance industry in South Africa. Although this is a growing industry, it is characterised by high competitiveness and similar product offerings from the different insurance providers. Therefore, in competing for the larger market share, the companies differentiate themselves by relying more on their unique strengths. They compete by promoting themselves and their products through various above-the-line and below-the-line marketing activities and campaigns in order to drive sales, build awareness, manage reputations, and to be top of mind to consumers. This study focuses on establishing whether these various marketing activities are measured to determine whether they contribute to the bottom line/ profit margins (basic purpose of ROMI) and to what extent. The ultimate goal is to establish whether ROMI is considered as being important to measure in the life insurance industry and whether spending on marketing activities does contribute to profit margins. A total of 16 recognised life insurance companies were identified and a sample size of seven companies selected. The sampling frame consisted of marketing managers, who happened to be heads of departments in this case. Structured interviews were conducted with these managers, and feedback was transcribed and analysed. Only marketing managers were interviewed as they are directly responsible for the marketing budget, and are accountable for marketing spending and the overall success of the department. It was identified in the study that in order to measure ROMI, it starts by being accountable for the marketing spending. The overall results of the study indicate that spending on marketing does contribute to profits margins and that ROMI is considered by the life insurance industry as important to measure. The study was limited only to the Gauteng province, thus it can be generalised to the life insurance companies in South Africa, but cannot be generalised to other insurance industries, e.g. short-term insurance, thus allowing for the possibility of a comparative study in the future, in addition to future studies listed in chapter 5.
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The return on investment from corporate social investment from an employee perspective
- Authors: Mdaka, Vuyani G.
- Date: 2016
- Subjects: Investments - Moral and ethical aspects , Rate of return
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/124216 , uj:20890
- Description: Abstract: There is no universally accepted understanding of the effects of corporate social investment (CSI) on the return on investment (ROI). According to Hamann (2009), certain shareholders and managers believe that CSI disturbs companies’ main business objective, which is to make more money for the shareholders, arguing that CSI is an expense, not an investment to the company. The overall objective of the study is to explore the perceptions of employees on the ROI from CSI at a South African financial services company. The nature of this study is an exploratory descriptive qualitative research strategy designed to explore and describe the perceptions of employees on the ROI from CSI in the context of a South African financial services company. Ten employees from a South African financial services company were selected for the interviews. The qualitative data collected from the selected employees was analysed through thematic analysis to determine the perceptions of employees on the ROI from CSI. The research results indicate that the perception of employees on the ROI from CSI at a South African financial services company differs according to the views of the employees interviewed. The employees that were interviewed provided their own, various perceptions of the matter at hand, however, most participants seem to suggest that there is a mutual benefit for the company and the community from the CSI programmes. , M.Com. (Financial Management)
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- Authors: Mdaka, Vuyani G.
- Date: 2016
- Subjects: Investments - Moral and ethical aspects , Rate of return
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/124216 , uj:20890
- Description: Abstract: There is no universally accepted understanding of the effects of corporate social investment (CSI) on the return on investment (ROI). According to Hamann (2009), certain shareholders and managers believe that CSI disturbs companies’ main business objective, which is to make more money for the shareholders, arguing that CSI is an expense, not an investment to the company. The overall objective of the study is to explore the perceptions of employees on the ROI from CSI at a South African financial services company. The nature of this study is an exploratory descriptive qualitative research strategy designed to explore and describe the perceptions of employees on the ROI from CSI in the context of a South African financial services company. Ten employees from a South African financial services company were selected for the interviews. The qualitative data collected from the selected employees was analysed through thematic analysis to determine the perceptions of employees on the ROI from CSI. The research results indicate that the perception of employees on the ROI from CSI at a South African financial services company differs according to the views of the employees interviewed. The employees that were interviewed provided their own, various perceptions of the matter at hand, however, most participants seem to suggest that there is a mutual benefit for the company and the community from the CSI programmes. , M.Com. (Financial Management)
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