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Faculty of Management Sciences

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Subject: search.filters.subject.Risk management--South Africa

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    An integrated safety, health, environment and quality management system for a multi-business packaging organisation in South Africa
    (2023-05) Nadar, Manikam Michael; Ramchander, M
    Organisations operate in a challenging and competitive environment that are primarily driven by the markets that the organisation serves, and these organisations rely on management systems to provide strategic direction that aligns with the goals of the organisation. As such, organisations typically progressively implement independently managed safety, health, environment, and quality management systems. However, these standalone management systems work in silos that are not synergised and can achieve improved outcomes if integrated into one coherent integrated management system (IMS) that is aligned to the strategic goals of the organisation. The theoretical framework of the study was based on the systems theory that views an organisation as an open system, that consists of sub systems that are sequenced and interact to form a holistic system that contributes to a final output. The conceptual framework was based on existing researched models to gain insight on the different IMS models as well as the challenges and benefits experienced by organisations globally in implementing an IMS. The strengths, weaknesses, opportunities, and threats of the researched organisation’s independent safety, and health, environment, and quality (SHEQ) management systems were researched to contextualise the organisation. A mixed research methodology was used to gain an understanding of the current independent management systems and the challenges that the researched organisation faces towards implementing an integrated IMS. The challenges associated with the organization's independently management systems include ineffective use of resources, duplication of work, and the difficulty of managing independent systems. An IMS will address these challenges, however, implementing an IMS may pose challenges such as resistance to change and inadequate expertise. The management of change and the proposed structured IMS model together with the provision of the required skills and knowledge will aid in ensuring the successful implementation of the IMS. An organisation must have clear IMS objectives that must be aligned to the strategic goals of the organisation, to ensure better, utilisation of the organisation’s resources, management of cost, reduction in documentation and a change in the organisation’s SHEQ culture. The fourth industrial revolution provides an opportunity for the organisation to use a cloud-based document management system to enhance the organisation’s IMS. Findings of the research support the notion of an IMS. Based on the researched models and the qualitative and quantitative research, a multi-dimension IMS model was formulated using the systems theory, and proposed strategies was articulated, that the researched organisation can adopt to implement an IMS. This study ascertained how the three-standalone safety, and health, environment and quality management systems can be unified into an integrated multi-dimensional model that could be possibly adopted by the metal division of the organisation across three business units located in three South African provinces. The successful implementation of the IMS will involve reviewing the existing staff structure, integration of the existing documentation based on the proposed IMS model, conducting a SHEQ management review and auditing. The research has extended the IMS theory by contributing knowledge on the IMS organisation structure, IMS document structure, IMS structure, proposed ISO IMS requirements and a proposed IMS model.
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    An evaluation on the impact of new capital requirements introduced under the Basel III regulations on banks' lending rates and loan growth : a case study of the eThekwini region and surrounding areas
    (2020-05) Moodley, Kresénta; Singh, Suren; Isheloke, Byelongo Elisee
    The aim of this study is to evaluate the impact of new capital requirements introduced under the Basel III regulations on banks’ lending rates and loan growth. It further analyses how the regulation impacts positively and negatively on the banks’ lending rate. The study was conducted to discover how the Basel III framework affects the banking industry’s loan growth in KwaZulu-Natal. The rationale for this study was based on the information that this financial regulation has led to a substantial decrease in the loan growth of the banking sector. Little research, if any, has been done on this particular topic. Therefore, there was a need to conduct research of this magnitude in order to eliminate the issues related to new capital requirements. A qualitative approach was followed as the dissertation that required this method. The theme of this study focused on credit, interest rates and the cost of credit within the banking industry while the actual research was conducted amongst professionals with 15 to 20 years of experience within the banking industry. Interviews were conducted as part of attempts to gather data in studying the phenomenon. The objective of this study is to identify the difficulties faced by the bank in order to assist in granting a client with a credit facility being in line with the Basel III accord requirements. A further objective is to establish how the Basel III accord has affected the loan growth over the past three to five years in the banking industry and to investigate how the increased cost of credit due to the implementation of the Basel III accord affected the banks and its consumers over the past three to five years. Semi-structured interviews with open ended questions were used to gather data. Due to the type of professionals being interviewed namely; credit managers, business credit managers as well as credit analysts, a total of 10 interviews were conducted. The interviews were recorded and transferred verbatim. The study evaluated the impact that the new Basel III regulation requirements have on the loan growth within the financial industry. Major findings of the research were that banks have become stricter with credit lending; the loan growth has decreased over the past five years, after the Basel III Accord. Due to this being a government regulation, banks have now shifted their focus on promoting non-credit products to increase profitability. This research contributes to the body of knowledge in the financial field of study and helps to bridge the gap on the topic. It is hoped that future research on banking scoring models, Basel III and bank employees’ rapport, as well as on interest rates trends examination would be highlighted as recommended in this study.
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    An analysis of the effect of managerial overconfidence through corporate investments on share price : evidence from some FTSE/JSE Top 40 index companies
    (2017) Lawa, Emmanuel; Kwenda, Farai
    The discipline of corporate finance has undergone numerous transformations over the past two-and-a-half decades. One such change has been in the area of corporate finance. Driven by certain behavioral biases, it has been observed that managers sometimes make subjective decisions that do not always follow the norms of traditional corporate finance. One such behavioral influence is overconfidence or optimism. There is a paucity of research on the impact that managerial overconfidence through corporate investments has on the general movement of a company’s share price. This study bridges that gap by investigating the effect of managerial overconfidence on the share price of 10 companies from the JSE/FTSE top 40 index. Its main objective was to inspect the relationship between managerial overconfidence and share price. The results show the presence of managerial overconfidence observed through the investment-cash flow sensitivity of firms. The fixed effects panel regression reveals that Tobin’s Q which is the proxy measure of the investment-cash flow sensitivity of a firm, does affect the share price. Holding every other explanatory variable constant, an increase in Tobin’s Q causes the share price to rise, which leads to the conclusion that managerial overconfidence does have an influences on the stock price. It is further observed that managerial overconfidence tends to increase with firm size. This is shown by the weak positive correlation between the Q ratio and LnTA, and Q ratio and sales. In order to avoid the possible loss in value of a firm caused by an overconfidence manager, it is recommended that shareholders or owners ensure that the manager clearly understands the company’s objectives and vision. Due to the resultant influence of managers’ on the value of a company’s stock, investors should not only look at a company’s past performance, as well as the price earnings ratio (PE ratio), dividend yield, DPS, or any other market value ratios. They should also consider the characteristics of the CEO before making their investment decisions.
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    An investigation into the criteria for project success within Transnet
    (2006) Pillay, Renee
    Project Management is the wave of the future. This discipline and its evolution continues to be one of the principal means by which operational and strategic changes are managed in the enterprise. The importance of Project Management for organisational success will expand, rather than wane, in years to come. Projects, particularly large scale complex ones with multiple stakeholders, are failing at alarming rates despite a wide spectrum of efforts to solve the problem. The lack of meaningful results and outcomes is due, in part, to the fact that organizations tend to operate on a set of unproven assumptions concerning project objectives, business requirements, user expectations, motivations, agendas, schedules, costs and time frames. The management dilemma is that Transnet has committed R 65 billion to projects in the hope of developing its core businesses to that of world-class standards as a logistics service provider in South Africa. Transnet’s capital project division, Protekon, is responsible for managing the projects committed to this R 65bn capital expenditure. Transnet’s perception of Protekon’s failure to successfully deliver projects could result in appointments of external consultancies such as Hatch McDougal and Guba (HMG – an engineering consultant firm). Whereas, previously, Protekon was the monopoly service provider of engineering and project management skills within Transnet, Transnet’s sub-divisions appear to be utilizing outside consultancies more frequently. The reason for procuring engineering and consultancy services external to Transnet, among others, is the perception that Protekon is performing poorly in delivering successful projects. The outsourcing of work, fuelled by the negative perception of Protekon’s performance, directly impacts on the profitability of Protekon in the short to medium term. The objective of this dissertation was firstly to investigate the effect of Protekon’s involvement in Transnet’s project success; and secondly, to recommend strategies to improve the rate of project success, that could be applied within Transnet and Protekon.