Theses and dissertations (Management Sciences)
Permanent URI for this collectionhttp://ir-dev.dut.ac.za/handle/10321/14
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Item The strategic financial management framework for small and medium-sized enterprises in Zimbabwe(2023-06) Mutambara, Alice; Kader, AbdulSmall to medium enterprises (SMEs) by nature often encounter performance and growth-related challenges attributable to failure by SME owner managers to embraceStrategic Financial Management Practices (SFMPs) that are popular for promoting business growth and performance. The Zimbabwean economy, which relies on SMEs following the collapse of the economy due to the agrarian reform initiated by the government in the year 2000, faces economic crisis of large proportions as SMEs fail perform and grow. Aim: The overall aim of the study was to develop a strategic financial management framework for SMEs towards improving performance and growth. Study setting: The study was conducted in Mashonaland West Province of Zimbabwe, a relatively impoverished community that rely on SMEs as a source of livelihood. Methods: The study employed the mixed method research design that include the quantitative, and qualitative methods gathering data from a target population of 640 SMEs selected from the furniture, steel, metalwork, retail, confectionary, and the hospitality sectors. Cluster, and stratified sampling techniques were used to select 240 participants for the quantitative study while purposive sampling technique was used to select 21 participants for the qualitative study. Quantitative data was analysed using the Statistical Package for Social Science (SPSS) version 25 with qualitative data analysed using N-Vivo and thematic analysis. Results: The main study findings revealed that SMEs across the province partially applied SFMPs which include developing a vision that guides the business, opening a fixed asset register to serve as collateral security, bulk stock ordering, and networking. Conclusions: The study concluded that SFMPs were critical for SME performance and growth, and that SMEs should embrace the practices. The study therefore recommended the implementation of the FNBE11 framework by SMEs across the province to ensure sustenance of growth and performance. The recommended framework would compel SMEs to be visionary, invest in fixed assets as collateral security, open bank accounts that provides creditors/financiers with solid financial history used as the basis to seek funding.Item An investigation of the factors that influence academic performance of students registered for Financial Management at Durban University of Technology (DUT)(2022) Khumalo, Mhlonishwa; Mbali, CharlotteThe Durban University of Technology (DUT), whose vision is to be a centre of excellence in the heart of Africa, is keen on quality assurance and the maintenance of standards. However, the academic deans and quality assurance committee have noted that while some students perform highly, others do not perform well, raising concerns about those who do not perform well. This is particularly applicable in Financial Management Modules because should this poor performance go unchecked, the university may lose its reputation, which may result in a loss of confidence in DUT graduates amongst outside organisations. The study aimed at investigating the challenges encountered by students enrolled for Financial Management (FM) in order to establish strategies that can be adopted to improve performance. The research tool used was a questionnaire, which was then examined by quantitative methods. The sample consisted of 160 students enrolled in Financial Management courses. In order to preserve anonymity, their actual marks could not be used in the study, hence they were asked to gauge their own performance both in their Matriculation and in DUT examinations. This was then processed using the category data of their bio-characteristics (gender, age, type of school, mode of study) measured against their opinions of different modes of study used in FM courses at DUT. Some of the most important findings from the study results were that parental involvement with schoolwork resulted in a better Matric result, and that more of the third-year DUT students claimed this than the 4th years, indicating that parents are increasingly getting involved. At DUT, proportionately more 4 th years claimed lecturers as being most helpful, whereas for 3rd years, it was student-run groups. A notable 62.2 % of all respondents claimed that teaching methods in Financial Management should be revised. There was also a worrying number of nonresponses of up to 10%, for some of the teaching and learning methods, indicating that some registered students are not able to make full use of what is on offer. Lastly, another finding worth mentioning is the relationship between understanding terminology by respondents and the type of school they attended. Results showed that most of the respondents from rural and township schools had difficulty understanding terminology as compared to those from private schools.Item The challenges of enriching small, medium and micro enterprises with financial management knowledge in KwaZulu-Natal metropolitan area(2021) Mazibuko, Wiseman Sinethemba; Mugari, AlphaSouth Africa is experiencing enormous socio-economic challenges such as gender-based violence, poverty and inequality, including ever-increasing high levels of unemployment. Many businesses are either closing or downsizing. People are resorting to alternative ways to alleviate poverty by establishing SMMEs. To get established, SMMEs are encountering a daunting task when it comes to implementing sound financial systems. The study sought to examine the challenges of capacitating SMMEs with financial management acumen and to remedy the difficulties of implementation thereof. Primary research was conducted amongst SMMEs in KwaZulu-Natal, Metropolitan Area. The population of this study consisted of a sample of 250 randomly selected SMMEs participated from a target population of 2200. Data were analysed using descriptive and inferential statistical techniques such as SPSS and Cronbach’s Alpha. The study found, that the sector has grown and has become an engine to drive economic stabilisation, poverty alleviation and employment creation. However, perennial challenges grew exponentially. Moreover the covid-19 pandamic has worsen the situation. Government has played a huge role in making sure the SMMEs sector get the necessary financial support, through different entiies like the SEFA, SEDA, and SSSP. The majority of SMMEs concurs that lack of adequate financial management acumen negatively affects their success. Most of them cannot upskill themselves and are not satisfied with stakeholder interventions regarding training and development. The study also found that, funding is not a panacea to all the challenges faced by this sector. Solutions should come from SMMEs instead of stakeholders prescribing how problems should be resolved. Apart from financial management understanding, SMMEs maintains that networking opportunities with business associates are vital to their success.