An analysis of integrated reporting on the governance of selected State-Owned Enterprises (SOEs)
- Authors: Songxaba, Bathabile Liberty
- Date: 2023-03-31
- Subjects: Government business enterprises Management , Integrated reporting , Integrative thinking , Corporate governance Law and legislation South Africa , Good governance , Business ethics South Africa
- Language: English
- Type: Academic theses , Master's theses , text
- Identifier: http://hdl.handle.net/10962/419112 , vital:71617
- Description: The research investigated how integrated annual reports (IARs) can enhance the governance of state-owned enterprises (SOEs). Governance of SOEs is crucial to achieving the county’s socio-economic objectives. The SOEs listed on Schedule 2 of the Performance Finance Management Act (PFMA), Act No. No.1 of 1999, as amended in March 2017, represents, among many, the electricity, transportation, and telecommunication sectors. This study analysed the integrated reporting (IR) governance of selected schedule 2 of PFMA SOEs. The researcher adopted the qualitative approach for the study. Firstly, the analysis was to identify and describe the governance disclosures as evident in IARs using the King IV principles. Secondly, the study analysed the reporting trends associated with governance practices over 2018 – 2020. Integrated reports from Eskom, Transnet, and Telkom were selected for three years. Relevant concepts discussed in the literature review include corporate governance, King reports on corporate governance, King IV principles, the principle of materiality on governance disclosures, corporate reporting, integrated reporting, integrated thinking, benefits of integrated reporting, theoretical underpinnings of the study, and a conclusion. The disclosures were summarised per year and SOE per King IV principle, resulting in nine (9) excel spreadsheets, which were combined excel spreadsheets sorted into a logical structure based on coding to keep track of the source data sequence. The data was systematically manually coded using Ose's (2016) Microsoft Word and Excel method. Findings included seven themes which were ethics, irregular expenditure, internal controls, accountability, governance structures, reputation, and sustainability. Themes were transferred to subtopics for comparative analysis to assess trends and the SOEs’ governance disclosures. The results found that all three SOEs have disclosed using King IV principles guided by the 2013 International Integrated Reporting Council’s (IIRC) framework. All SOEs disclosed their governance in their reports and practice explained. There are noticeable differences, Eskom and Transnet are solely government-owned, and Telkom is partially privatised and run privately as the majority holding is mostly private. Eskom and Transnet reflected more similarities in terms of their operational and financial challenges, whereas Telkom operates in a more competitive environment and is run as a private company which is portrayed to be profitable and restricted to Johannesburg Stock Exchange (JSE) requirements. Disclosures indicate progress on material matters and links associated with functional areas such as strategy and risks. Materiality is a guiding principle in the IIRC framework, which assist discloses information that significantly affects the organisation’s ability to create value over time. The similarities in all three SOEs include challenges in retaining competent and ethical leaders, which is critical for enhancing good governance. The study recommended how the integrated report can be viewed as a management and accounting tool for the governing body and stakeholders to focus on drivers that create value and consider drivers that erode or preserve value. This feedback may assist in informing strategy, business model, and decision-making for the governing body to set governing structures that support the organisation to create sustained value. , Thesis (MBA) -- Faculty of Commerce, Rhodes Business School, 2023
- Full Text:
- Date Issued: 2023-03-31
- Authors: Songxaba, Bathabile Liberty
- Date: 2023-03-31
- Subjects: Government business enterprises Management , Integrated reporting , Integrative thinking , Corporate governance Law and legislation South Africa , Good governance , Business ethics South Africa
- Language: English
- Type: Academic theses , Master's theses , text
- Identifier: http://hdl.handle.net/10962/419112 , vital:71617
- Description: The research investigated how integrated annual reports (IARs) can enhance the governance of state-owned enterprises (SOEs). Governance of SOEs is crucial to achieving the county’s socio-economic objectives. The SOEs listed on Schedule 2 of the Performance Finance Management Act (PFMA), Act No. No.1 of 1999, as amended in March 2017, represents, among many, the electricity, transportation, and telecommunication sectors. This study analysed the integrated reporting (IR) governance of selected schedule 2 of PFMA SOEs. The researcher adopted the qualitative approach for the study. Firstly, the analysis was to identify and describe the governance disclosures as evident in IARs using the King IV principles. Secondly, the study analysed the reporting trends associated with governance practices over 2018 – 2020. Integrated reports from Eskom, Transnet, and Telkom were selected for three years. Relevant concepts discussed in the literature review include corporate governance, King reports on corporate governance, King IV principles, the principle of materiality on governance disclosures, corporate reporting, integrated reporting, integrated thinking, benefits of integrated reporting, theoretical underpinnings of the study, and a conclusion. The disclosures were summarised per year and SOE per King IV principle, resulting in nine (9) excel spreadsheets, which were combined excel spreadsheets sorted into a logical structure based on coding to keep track of the source data sequence. The data was systematically manually coded using Ose's (2016) Microsoft Word and Excel method. Findings included seven themes which were ethics, irregular expenditure, internal controls, accountability, governance structures, reputation, and sustainability. Themes were transferred to subtopics for comparative analysis to assess trends and the SOEs’ governance disclosures. The results found that all three SOEs have disclosed using King IV principles guided by the 2013 International Integrated Reporting Council’s (IIRC) framework. All SOEs disclosed their governance in their reports and practice explained. There are noticeable differences, Eskom and Transnet are solely government-owned, and Telkom is partially privatised and run privately as the majority holding is mostly private. Eskom and Transnet reflected more similarities in terms of their operational and financial challenges, whereas Telkom operates in a more competitive environment and is run as a private company which is portrayed to be profitable and restricted to Johannesburg Stock Exchange (JSE) requirements. Disclosures indicate progress on material matters and links associated with functional areas such as strategy and risks. Materiality is a guiding principle in the IIRC framework, which assist discloses information that significantly affects the organisation’s ability to create value over time. The similarities in all three SOEs include challenges in retaining competent and ethical leaders, which is critical for enhancing good governance. The study recommended how the integrated report can be viewed as a management and accounting tool for the governing body and stakeholders to focus on drivers that create value and consider drivers that erode or preserve value. This feedback may assist in informing strategy, business model, and decision-making for the governing body to set governing structures that support the organisation to create sustained value. , Thesis (MBA) -- Faculty of Commerce, Rhodes Business School, 2023
- Full Text:
- Date Issued: 2023-03-31
A qualitative analysis of the formation and maintenance of the franchisee/franchisor relationship
- Authors: Rodgerson, Jeffrey David
- Date: 2021-10-29
- Subjects: Franchises (Retail trade) South Africa , RE/MAX (Firm) , Industrial management South Africa , Entrepreneurship South Africa , Prediction of occupational success South Africa , Success in business South Africa , Business ethics South Africa , International Franchise Association
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/190782 , vital:45027
- Description: A number of studies have examined the franchisee/franchisor relationship to investigate how to select the correct franchisee and, subsequently, how to maintain a productive franchisee/franchisor relationship. A literature review was therefore conducted on the selection process and the maintenance of the franchisee/ franchisor relationship. The literature suggests that a set of selection criteria to increase the chance of a successful franchisee/franchisor relationship has not been clearly identified. Therefore, this study’s first objectives are: 1) the selection criteria that are used by the franchisor in selecting franchisees. Specifically, how RE/MAX South Africa selects local franchisees; and 2) how the franchisor manages the relationship to ensure compliance by the franchisees who have been selected. For this study, the selection criteria identified by Nevin (1999) and Olm et al. (1988) will serve as the basis of the first part of the study. The four selection criteria categories that have been identified by Nevin (1999) include: financial capability; experience and management skill; demographic characteristics; and attitude towards business. The literature reveals that the viewpoint of the franchisee is often overlooked by researchers, and yet the need of the franchisee should be ascertained to increase the chance of a successful franchisee/franchisor relationship. The literature has indicated that if the franchisors can keep the franchisees satisfied, the opportunity of franchise success and gaining franchisee compliance is much greater. In other words, if a franchisor can attain the correct people and know exactly what they want out of a franchise relationship, this will provide the franchise with a greater chance of success. The third objective of this research is, therefore, to analyse – from the perspective of both franchisees and their franchisor - how the relationship between them is maintained, and ultimately how the franchisor gains compliance from the franchisees. The model of Trust and Compliance (Davies, Lassar, Manolis, Prince and Winsor, 2011), which sets out the relationship between satisfaction, conflict, trust and compliance, was used to examine the franchisee/franchisor relationship. The practices of RE/MAX South Africa served as a case study for this research. Interviews were conducted, with the CEO and five franchisees, to identify the criteria used to select franchisees and gain a holistic understanding of the process of maintaining the relationship. The interview questions were structured using the Davies et al (2011) Model of Trust and Compliance. The data analysis technique that was used to analyse the interviews was thematic analysis. The findings firstly revealed that due to the fluid and low barriers to entry within the real estate industry, RE/MAX as an organisation does not have a standardised set of selection criteria but that an in-house guideline, called the RE/MAX Formula, was vital to this selection process. Secondly, in maintaining the franchisee/franchisor relationship and referring to the four factors of the trust and compliance model (Davies et al., 2011), the following key findings were noted. Firstly, the relationship between satisfaction and trust was primarily based around reciprocation within the franchisee/franchisor relationship. Secondly, various sources of conflict were identified, and it was noted that if conflict was not dealt with adequately, there was a breakdown of trust within the relationship. Finally, the building of trust was based on transparency, accountability, goal congruency and credibility. Recommendations for franchise management and further research were made. , Thesis (MBA) -- Faculty of Commerce, Rhodes Business School, 2021
- Full Text:
- Date Issued: 2021-10-29
- Authors: Rodgerson, Jeffrey David
- Date: 2021-10-29
- Subjects: Franchises (Retail trade) South Africa , RE/MAX (Firm) , Industrial management South Africa , Entrepreneurship South Africa , Prediction of occupational success South Africa , Success in business South Africa , Business ethics South Africa , International Franchise Association
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/190782 , vital:45027
- Description: A number of studies have examined the franchisee/franchisor relationship to investigate how to select the correct franchisee and, subsequently, how to maintain a productive franchisee/franchisor relationship. A literature review was therefore conducted on the selection process and the maintenance of the franchisee/ franchisor relationship. The literature suggests that a set of selection criteria to increase the chance of a successful franchisee/franchisor relationship has not been clearly identified. Therefore, this study’s first objectives are: 1) the selection criteria that are used by the franchisor in selecting franchisees. Specifically, how RE/MAX South Africa selects local franchisees; and 2) how the franchisor manages the relationship to ensure compliance by the franchisees who have been selected. For this study, the selection criteria identified by Nevin (1999) and Olm et al. (1988) will serve as the basis of the first part of the study. The four selection criteria categories that have been identified by Nevin (1999) include: financial capability; experience and management skill; demographic characteristics; and attitude towards business. The literature reveals that the viewpoint of the franchisee is often overlooked by researchers, and yet the need of the franchisee should be ascertained to increase the chance of a successful franchisee/franchisor relationship. The literature has indicated that if the franchisors can keep the franchisees satisfied, the opportunity of franchise success and gaining franchisee compliance is much greater. In other words, if a franchisor can attain the correct people and know exactly what they want out of a franchise relationship, this will provide the franchise with a greater chance of success. The third objective of this research is, therefore, to analyse – from the perspective of both franchisees and their franchisor - how the relationship between them is maintained, and ultimately how the franchisor gains compliance from the franchisees. The model of Trust and Compliance (Davies, Lassar, Manolis, Prince and Winsor, 2011), which sets out the relationship between satisfaction, conflict, trust and compliance, was used to examine the franchisee/franchisor relationship. The practices of RE/MAX South Africa served as a case study for this research. Interviews were conducted, with the CEO and five franchisees, to identify the criteria used to select franchisees and gain a holistic understanding of the process of maintaining the relationship. The interview questions were structured using the Davies et al (2011) Model of Trust and Compliance. The data analysis technique that was used to analyse the interviews was thematic analysis. The findings firstly revealed that due to the fluid and low barriers to entry within the real estate industry, RE/MAX as an organisation does not have a standardised set of selection criteria but that an in-house guideline, called the RE/MAX Formula, was vital to this selection process. Secondly, in maintaining the franchisee/franchisor relationship and referring to the four factors of the trust and compliance model (Davies et al., 2011), the following key findings were noted. Firstly, the relationship between satisfaction and trust was primarily based around reciprocation within the franchisee/franchisor relationship. Secondly, various sources of conflict were identified, and it was noted that if conflict was not dealt with adequately, there was a breakdown of trust within the relationship. Finally, the building of trust was based on transparency, accountability, goal congruency and credibility. Recommendations for franchise management and further research were made. , Thesis (MBA) -- Faculty of Commerce, Rhodes Business School, 2021
- Full Text:
- Date Issued: 2021-10-29
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