3. Electronic Theses and Dissertations (ETDs) - All submissions
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Item Fostering innovative behaviours through leadership and fairness: commitment and citizenship behaviours as successive mediators(2018) Khaola, Phomane PeterResearch literature not only suggests that the effects of leadership and organisational justice (social factors) on innovative work behaviour (IWB) are equivocal, but also presents a variety of intervening factors between the focal constructs. Conspicuously missing in the list of mediating factors is organisational citizenship behaviour (OCB), the factor that can theoretically facilitate IWBs. Similarly, although both OCB and IWB are discretionary work behaviours, little is surprisingly known about the relationship between these two extra-role constructs. Drawing on literatures across various research domains, the aim of this study was to develop and test a model that links leadership and fairness to IWB through the successive mediating roles of affective commitment and OCB. The study was based on survey of a random sample of 300 employees selected from 652 employees from a public university, and a convenient sample of 159 employees from private and state-owned enterprises in Lesotho. The Statistical Package for Social Sciences (SPSS) and the Analysis of Moment Structures (AMOS version 24) were used to analyse data. Specifically, the study used factor analysis; correlation; analysis of variance (ANOVA); and structural equation modelling techniques to address the hypothesised relationships. To reinforce quantitative results, an open-ended question on OCB was analysed qualitatively to give insights into why OCBs may facilitate IWBs. The results suggest that the model that fitted data well is the one in which the effects of both leadership and organisational justice on IWBs were successively mediated by affective commitment and OCB. Because of its social and affiliation-oriented nature, this study submits and concludes that OCB is an effective mediating factor between social factors (leadership and justice) and IWBs. This study not only contributes to literature by presenting a new perspective on how social factors relate to IWBs, but also guides managers on appropriate interventions they can use to inspire employees to engage in affiliation-oriented and proactive OCBs.Item Characteristics and performance of SA most empowered companies(2017) Ndlangamandla, Phiwokwakhe KennethThe purpose of the study was to understand the characteristics of SA highly empowered companies and investigate the main factors influencing performance and survival of those BEE companies. The present study mainly based on secondary data. This study uses data supplied by Empowerdex financial consultants firm, for the SA BEE most empowered companies from 2004 (during the inception of the codes of goods practise) through to 2016. The performance was measured by return on total assets as a dependent financial performance variable. The return on equity, profit margin, earnings per share, price earnings, share price, and BEE score are used as independent variables, which are proxies for profitability, market, and BEE score. Descriptive and inferential analysis has been performed using the Statistical Package for the Social Sciences (SPSS) version 24 tool for Quantitative analysis. Pearson correlation and Regression test are employed to determine the kind of relationship between dependent and independent variables, hypotheses test and evaluating normality of data respectively. In order to test multiple linear regression models, the researcher assessed the study data collected through four assumption tests; these tests include normality test, multicollinearity test, autocorrelation test and heteroscedasticity. Based on findings of the study, regarding financial ratio analysis approach, the study concluded that there is a high share price. This pattern reveals that BEE empowered companies in South Africa rank SP higher than other performance measurement indicators. While regarding the statistical analysis it can be concluded that there is a strong and significant relationship between return on assets (ROA) with (profitability measures) ROE, PM and EPS. Results further show that there is a significant strong positive correlation between ROE and ROA with a significant value of 0.000, while there is a positive and significant relationship between PM and ROA. Results show that there is a significant strong positive correlation between EPS and ROA. The correlation coefficient for EPS and ROA is 0.157 with a statistically significant correlation value of 0.003. That means, increases or decreases in one variable do significantly relate to increases or decreases in your second variable. There is a negative correlation between ROA and market value. There is an insignificant and negative correlation between P/E and ROA. Data also shows that there is an insignificant and negative correlation between SP and ROA Data further indicate that there is a significant strong negative correlation between ROA and BEE score with a significant value of 0.001. There is a statistically significant correlation between BEE score and ROA. That means, increases or decreases in one variable do significantly relate to increases or decreases in your second variable. SPSS generated a negative Pearson’s r value, meaning that when the amount of BEE score increases (our first variable), and the ROA (our second variable) decreases. The p-value for this correlation coefficient is 0.001. In conclusion, BEE score has a negative relationship with the return on assets.Item Comparative performance of BEE and non-BEE mergers and acquisitions in South Africa(2016) Mwelase, NkanyeziThe study revisits the topic of post-acquisition performance of M&A in South Africa. Unlike preceding studies the emphasis was on target firms rather than acquiring firm and on operating performance rather than on share price reaction to M&A announcements. The study explores how operating performance is affected by BEE related M&A and non-BEE related M&A transactions. Operating performance is measured using EVA®. Economic Value Added (EVA®) reveals that target firms experienced a decline in post deal operating performance following an M&A transaction regardless of whether the M&A deal was motivated by BEE or not. The study also found that the decline in operating performance was larger for conventional (non-BEE) M&A transactions relative to BEE linked M&A transactions, though the decline was not statistically significant. Accounting based corporate performance measurement methods used to supplement the EVA® exhibit a marginal and insignificant increased in performance when the average five year post-acquisition returns are compared to the average five year pre-acquisition returns. Overall, the economic performance of target firms declined suggesting that target firms do not benefit significantly from the M&A.Item Employee share-ownership plans in the mining industry - a new approach to ESOPS(2017) Diale, Makatane Kagisho JacobEmpowerment of previously disadvantaged groups has been applied in many countries, in order to achieve specific political, economic and social outcomes. Group preferences and preferential policies are common in developed and developing countries under various names. They have been mostly implemented in countries where a specific ethnic, religious, or gender group has been discriminated against historically. An ESOP is an empowerment tool that can be adapted and designed to achieve the goals of companies, employees and governments. An ESOP is an instrument used to enable employee ownership in private and public companies. Internationally the application of ESOPs have taken various architectures highly dependent on individual company and country circumstances. SA has a long and well documented history of racial discrimination and economic exclusion. Poverty, unemployment and inequality continue to bedevil the South African economy. Transformation in the mining industry is given effect in the Mining Charter which is governed under section 100 of the Minerals and Resources Development Act. The Charter is buttressed by a key set of pillars. These pillars are supplemented by the codes of good practice as well as the housing and living conditions standards. These pillars include reporting; ownership; housing and living conditions; procurement and enterprise development; employment equity; human resource development; mine community development; sustainable development and growth and beneficiation. This report focusses on the ownership pillar of the Charter. The mining industry has completed a number of empowerment deals post implementation of the Mining Charter. The impacts of most BEE deals have not been broad-based; and have mostly benefitted only a few HDSA entrepreneurs. The value and number of transactions have coincided with the rise and fall of the JSE, making the deals expensive – due to elevated stock prices in favourable market conditions. ESOPs enable extensive employee ownership; and have the ability to foster a sense of individual enterprise that fuels productivity in companies that have imbued a culture of ownership amongst their employees. ESOPs generally contribute positively to company performance; and they provide a stable and dynamic working environment, when administered effectively. ESOPs cannot be implemented in isolation; but they require a combination of factors to make them successful. ESOPs generally contribute positively to company performance; and they provide a stable and dynamic working environment, when administered effectively. Effective ESOPs require a combination of elements for success: these comprise of financial incentives, employee-involvement mechanisms and the instilling of an ownership culture. Anglo American was used as a proxy for the industry due to its size and diversity. ESOPs that have been implemented have failed to meet stakeholders’ expectations. These ESOPs are inconsistent, complicated and mostly opaque to employees; whilst delivering modest returns to employees. This report proposes the application of a new ESOP framework that is to be considered in amending existing ESOPs or in the crafting of new programmes. Existing ESOPs are assessed against this proposed framework in this report. The proposed ESOP framework is supported by a set of key principles, essential to the success of the framework. The performance of ESOPs in Anglo American varied when assessed against the framework. With the exception of Envision, Anglo American’s ESOPs have delivered very modest financial benefits to employees. They have not achieved their intended purpose, of empowering employees and aligning company performance with individual employee performance. When assessed against the other pillars of the framework, KIO and AAP did not perform satisfactorily.Item How South African businesses design and execute transformation initiatives: implications for coaching(2017) Prinsloo, HeatherThe body of knowledge on transformation is growing and previous researchers have set a foundation by focusing on different aspects of B-BBEE and legislative redress. Scientific research on coaching as a tool to facilitate legislative redress is emerging. The objective of the research was to add to the emerging body of knowledge and uncover how South African businesses approach transformation, what processes and resources they use and what best practices are applied and if opportunities existed to introduce new concepts and frameworks, such as Coaching. The study used qualitative research methodology. Semi-structured interviews were conducted with two employees in four different organisations, four technical signatories in two verification agencies and four B-BBEE consultants. The organisations who participated in the research qualified as level, one, two and three contributors to B-BBEE. It was assumed that the B-BBEE level would indicate the extent of transformation in the organisations. Transformation in South Africa remains a contentious issue for business and employee responses to redress range from positive to negative. Organisations have been slow to respond to the people aspects of transformation. From the research, it was evident that organisations, verification agencies and consultants interchanged B-BBEE and transformation, implying that in South Africa, the concepts were similar, if not the same. Organisations’ responses to B-BBEE were still very reactive and at the time of the interviews, the respondents all expressed varying levels of concern to the gazetting of the amended B-BBEE Codes of Good Practice. The view held, was that the amended codes would require organisations to take a more strategic view of transformation. Only one of the four organisations interviewed confirmed that they had a transformation strategy. As for the other organisations, the strategies could be described as emerging Best practice is beginning to emerge and on some elements of the scorecard, improvements can be seen as organisations adapt approaches to yield a return on investment. Coaching as a resource to facilitate transformation was approached with caution even though the respondents recognised that third party interventions were necessary. The research builds a case for coaching as a tool to embed learning and development as organisations shift from a tactical response to B-BBEE to a more progressive or authentic goal.Item The impact and related costs of implementing changes in the Broad-Based Black Economic Empowerment (BBBEE) codes of good practice on companies listed on the Johannesburg Stock Exchange (JSE)(2016) Dongwana, Neo PhakamaBlack Economic Empowerment (BEE) or Broad-Based Black Economic Empowerment (BBBEE) is an important means by which the South African government aims to address the social injustices of the past as well as eliminating inequalities between white capital and the black majority (Fauconnier and Mathur-Helm, 2008). The Department of Trade and Industry (DTI) has been tasked with overall responsibility for instituting and monitoring the laws that govern BEE. Since the introduction of the Broad-Based Black Economic Empowerment Act no. 53 of 2003 (Ferreira and Villiers, 2011) and the codes of good practice of 2007, a number of amendments were made in response to deficiencies identified, the most material being the Amended Codes of Good Practice of 2013, which were effective from 1 May 2015. This research paper sought to investigate the impact and cost implications of the 2013 amendments to the BBBEE Codes of Good Practice (new codes) on companies within the industrial goods and services sector of the Johannesburg Stock Exchange (JSE). This was done relative to the 2007 BEE Codes of Good Practice (old codes). The main purpose of the study was to explore the impact and related costs of implementing the changes in the BBBEE codes on a sample of JSE listed companies obtained from the Empowerdex Top 100 2015 survey. The sample selected was those companies in the industrial goods and services sector. The methodology used was an exploratory study using semi-structured, in-depth interviews with the executives responsible for BBBEE or transformation, as it sometimes called, in each company. While an interview questionnaire was used, the questions asked were fairly open-ended which allowed the subject to be explored fully in each setting. This enabled the researcher to also understand the practicalities of implementing the BBBEE codes within each company and each industry. The results of the study indicated that most companies found it difficult to maintain their BBBEE ratings, with indicative ratings showing a likely overall average drop of three levels. In addition, further discounting in the rating may result from not meeting the sub-minimum levels of the three priority elements. These elements are; ownership, skills development as well as enterprise and supplier development (ESD). Overall, in terms of the impact and challenges in implementing the new codes, companies found that the new codes were onerous, complex in some instances, vague in others, with a potential for misinterpretation and possible manipulation. ESD was found to be the most challenging of the new elements to implement and likely to have the most impact on companies, whereas skills development, which has been doubled from 3% to 6% of the payroll leviable amount, had the biggest impact in terms of cost as assessed on the new codes. Notwithstanding the perceived challenges, companies acknowledged that BBBEE was not only a moral imperative (Fauconnier and Mathur-Helm, 2008), but also a business imperative (Arya and Bassi, 2009) and a licence to trade in South Africa. The study had four main limitations. Firstly, that companies investigated were selected from the Empowerdex Top 100 most empowered companies 2015 survey, completed in May 2015. Within those, only the ones in the industrial and services sector were included in the study. Secondly, that all companies interviewed, regardless of sector, responded to the questions with respect to the generic scorecard, as no sector charters were enacted at the date of writing the research report. Thirdly, the ability to secure the appropriate number of interviews was key, which may affect the quality of the responses and conclusions reached. Finally, because the new codes were implemented on 1 May 2015, which is less than a year from the date of this research report, there is a limitation that limited information is available on the new codes. The effective implementation date of the new codes, means that very little research is likely to have been conducted on the new codes; or the likely impact they could have on companies; or the critical changes between the old codes (2007) and new codes (2013). The researcher hopes this study will enable greater understanding of the codes and assist listed and other companies in strategic decision-making (Horwitz and Jain, 2011) and implementation of transformation initiatives. Furthermore, issues raised as contentious, confusing or due for improvement can be further researched and possibly used by policy-makers as input to future changes in the codes. Further research can also be conducted three to five years from now when the amended codes have been in place for a period that allows implementation by companies. This can either be conducted using a case study that tracks the BBBEE strategies, initiatives and ratings over that period within one company. Alternatively, the researcher can select any one of the five elements and investigate how it has been implemented in different companies over a specific period.