The importance of managerial skills for medical doctors
- Authors: Ngxukumeshe, Tandiswa
- Date: 2008
- Subjects: Physician executives -- South Africa -- Port Elizabeth , Management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8709 , http://hdl.handle.net/10948/977 , Physician executives -- South Africa -- Port Elizabeth , Management
- Description: The role played by medical doctors and the employment positions they hold in South Africa and in the world today has shifted from being clinical only to include management. They were once only responsible for patient care, now are responsible for their organization's management. Physician managers have difficult tasks for which medical school provides no preparation. Doctors in an assortment of roles take on management responsibilities to varying degrees: these may be a single-handed private practitioner or lead a small clinical team; or a clinical or medical director or a chief executive; or hold senior management positions in National or Regional Legislature. Some are also managing and supervising colleagues in public or private hospitals and are responsible for managing budgets, allocation of resources; developing policies and making other management decisions. These roles require knowledge and competence of managerial skills in order to facilitate and lead in an effective and efficient manner. This study revealed that medical doctors, as business owners, in Mercantile Hospital are running their businesses, the medical private practices, without any managerial skills’ training. There was a general consensus that there is a need for managerial skills in any business and the respondents confirmed that managerial skills are important and necessary for the successful achievement of goals in a medical private practice.
- Full Text:
- Date Issued: 2008
- Authors: Ngxukumeshe, Tandiswa
- Date: 2008
- Subjects: Physician executives -- South Africa -- Port Elizabeth , Management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8709 , http://hdl.handle.net/10948/977 , Physician executives -- South Africa -- Port Elizabeth , Management
- Description: The role played by medical doctors and the employment positions they hold in South Africa and in the world today has shifted from being clinical only to include management. They were once only responsible for patient care, now are responsible for their organization's management. Physician managers have difficult tasks for which medical school provides no preparation. Doctors in an assortment of roles take on management responsibilities to varying degrees: these may be a single-handed private practitioner or lead a small clinical team; or a clinical or medical director or a chief executive; or hold senior management positions in National or Regional Legislature. Some are also managing and supervising colleagues in public or private hospitals and are responsible for managing budgets, allocation of resources; developing policies and making other management decisions. These roles require knowledge and competence of managerial skills in order to facilitate and lead in an effective and efficient manner. This study revealed that medical doctors, as business owners, in Mercantile Hospital are running their businesses, the medical private practices, without any managerial skills’ training. There was a general consensus that there is a need for managerial skills in any business and the respondents confirmed that managerial skills are important and necessary for the successful achievement of goals in a medical private practice.
- Full Text:
- Date Issued: 2008
The perceptions of Chinese tourists of the Western Cape Region travel destination
- Authors: Hu, Jiang
- Date: 2008
- Subjects: Chinese -- Travel -- South Africa -- Western Cape -- Attitudes , Tourism -- South Africa -- Marketing , Tourism -- South Africa
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9365 , http://hdl.handle.net/10948/967 , Chinese -- Travel -- South Africa -- Western Cape -- Attitudes , Tourism -- South Africa -- Marketing , Tourism -- South Africa
- Description: As a result of significantly improving relationship between South Africa and China, Chinese tourists traveling to South Africa have become a more noticeable group of travelers. More and more Chinese tourists choose South Africa as a tourism destination; especially Cape Town in the Western Cape region for a variety purposes such as relaxation, business and/or shopping. This research investigates the perceptions and motivation of Chinese tourists coming to the Western Cape region of South Africa. The proposed strategy of promoting the Western Cape region as a travel destination can be made based on the perceptions and motivation of Chinese tourists to the Western Cape. The study focuses on clearly understanding the perception of Chinese tourists by studying tourist behaviour and consumer motivation. The process of decision making and factors impacting on decision making are addressed in the research. A survey questionnaire was administered to Chinese tourists visiting South Africa. The primary data received by questionnaire was analyzed to show what actually Chinese tourists consider Western Cape as a travel destination. The Statistical Package of Social Science (SPSS) was utilized for analysis of data collected by the questionnaire. These general groups of data are discussed in the research. There are personal information, the motivation for travelling, and perceptions of respondents in the Western Cape region in South Africa.
- Full Text:
- Date Issued: 2008
- Authors: Hu, Jiang
- Date: 2008
- Subjects: Chinese -- Travel -- South Africa -- Western Cape -- Attitudes , Tourism -- South Africa -- Marketing , Tourism -- South Africa
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9365 , http://hdl.handle.net/10948/967 , Chinese -- Travel -- South Africa -- Western Cape -- Attitudes , Tourism -- South Africa -- Marketing , Tourism -- South Africa
- Description: As a result of significantly improving relationship between South Africa and China, Chinese tourists traveling to South Africa have become a more noticeable group of travelers. More and more Chinese tourists choose South Africa as a tourism destination; especially Cape Town in the Western Cape region for a variety purposes such as relaxation, business and/or shopping. This research investigates the perceptions and motivation of Chinese tourists coming to the Western Cape region of South Africa. The proposed strategy of promoting the Western Cape region as a travel destination can be made based on the perceptions and motivation of Chinese tourists to the Western Cape. The study focuses on clearly understanding the perception of Chinese tourists by studying tourist behaviour and consumer motivation. The process of decision making and factors impacting on decision making are addressed in the research. A survey questionnaire was administered to Chinese tourists visiting South Africa. The primary data received by questionnaire was analyzed to show what actually Chinese tourists consider Western Cape as a travel destination. The Statistical Package of Social Science (SPSS) was utilized for analysis of data collected by the questionnaire. These general groups of data are discussed in the research. There are personal information, the motivation for travelling, and perceptions of respondents in the Western Cape region in South Africa.
- Full Text:
- Date Issued: 2008
The role of an administrator in hedge fund operational risk management
- Authors: Schutte, Juane
- Date: 2008
- Subjects: Hedge funds -- South Africa -- Management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8724 , http://hdl.handle.net/10948/891 , Hedge funds -- South Africa -- Management
- Description: With the financial crisis of 2008 and more retirement funds and insurance companies entering the hedge fund industry, the safety of investor assets has become vital. According to a worldwide study by Kundro and Feffer (2002:42), operational risk factors account for almost half of hedge fund failures. The issues that underlie the operational risk factors relate to valuation of the fund’s assets and liabilities. Unless certain valuation practices become more widespread, hedge funds face a potential crisis of confidence with institutional and high net worth investors (Kundro and Feffer, 2002:42). Despite the improvements made by administrators to deal with the complexities of hedge fund investments, the accuracy of some valuations remains open to question (McVea 2008:135). Hedge fund manager inputs into valuations compromise the degree of independence exercised, particularly with regard to complex and/or illiquid instruments. The perception that administrators lack the required technical expertise to value complex and/or illiquid assets exacerbates the issue of administrator’s reliability to provide independent valuations. Therefore, the reliance on administrators to guarantee the quality of valuations of complex instruments is in question. The aim of the study was to identify ways to improve operational risk management practices, particularly valuations, in hedge funds through identifying ways of promoting effective functioning of independent third-party administrators. This was achieved through a case study approach using a South African leading administrator, Investment Data Services, as the object of study. The literature highlighted the changing functions of administrators, the challenges facing them and ways of addressing those challenges. The empirical study measured the extent of IDS’ valuation practices in managing operational risk in hedge funds. Four key members of IDS’ management team and one hedge fund manager with considerable insight were interviewed. The data obtained was then reduced into meaningful results. The empirical findings were compared with the theory provided in the literature scrutiny to identify ways of improving the valuation function. The conclusion was that the challenges faced by the administrator were addressed through proper independence, consistency and transparency of the valuation process. A crucial cog in IDS’ wheel is the employment of staff with the required technical skills to understand complex financial instruments. In addition, investment in advanced systems and technology is important in managing the risks involved. Consequently, IDS’ valuation practices can be used as template for other administrators in their efforts to manage the operational risks in hedge funds.
- Full Text:
- Date Issued: 2008
- Authors: Schutte, Juane
- Date: 2008
- Subjects: Hedge funds -- South Africa -- Management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8724 , http://hdl.handle.net/10948/891 , Hedge funds -- South Africa -- Management
- Description: With the financial crisis of 2008 and more retirement funds and insurance companies entering the hedge fund industry, the safety of investor assets has become vital. According to a worldwide study by Kundro and Feffer (2002:42), operational risk factors account for almost half of hedge fund failures. The issues that underlie the operational risk factors relate to valuation of the fund’s assets and liabilities. Unless certain valuation practices become more widespread, hedge funds face a potential crisis of confidence with institutional and high net worth investors (Kundro and Feffer, 2002:42). Despite the improvements made by administrators to deal with the complexities of hedge fund investments, the accuracy of some valuations remains open to question (McVea 2008:135). Hedge fund manager inputs into valuations compromise the degree of independence exercised, particularly with regard to complex and/or illiquid instruments. The perception that administrators lack the required technical expertise to value complex and/or illiquid assets exacerbates the issue of administrator’s reliability to provide independent valuations. Therefore, the reliance on administrators to guarantee the quality of valuations of complex instruments is in question. The aim of the study was to identify ways to improve operational risk management practices, particularly valuations, in hedge funds through identifying ways of promoting effective functioning of independent third-party administrators. This was achieved through a case study approach using a South African leading administrator, Investment Data Services, as the object of study. The literature highlighted the changing functions of administrators, the challenges facing them and ways of addressing those challenges. The empirical study measured the extent of IDS’ valuation practices in managing operational risk in hedge funds. Four key members of IDS’ management team and one hedge fund manager with considerable insight were interviewed. The data obtained was then reduced into meaningful results. The empirical findings were compared with the theory provided in the literature scrutiny to identify ways of improving the valuation function. The conclusion was that the challenges faced by the administrator were addressed through proper independence, consistency and transparency of the valuation process. A crucial cog in IDS’ wheel is the employment of staff with the required technical skills to understand complex financial instruments. In addition, investment in advanced systems and technology is important in managing the risks involved. Consequently, IDS’ valuation practices can be used as template for other administrators in their efforts to manage the operational risks in hedge funds.
- Full Text:
- Date Issued: 2008
The Southern African Development Community's attraction to foreign direct investment
- Authors: Botha, Richard Kruger
- Date: 2008
- Subjects: Southern African Development Community , Africa, Southern -- Foreign economic relations , Africa, Southern -- Economic integration , Africa, Southern -- Economic conditions
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8716 , http://hdl.handle.net/10948/926 , Southern African Development Community , Africa, Southern -- Foreign economic relations , Africa, Southern -- Economic integration , Africa, Southern -- Economic conditions
- Description: In order to assess the question as to whether the Southern African Development Community in principle attracts foreign direct investment, literature and data have been cited that compared the economic profiles and relative privatisation programs of member states of the Southern African Development Community with relative high inflows of foreign direct investment with the economic profiles and relative privatisation programs of member states with relative low inflows of foreign direct investment. Qualitative research has been conducted, and the author is of opinion that generally the member states with relative high foreign direct investment inflows had economic profiles and relative privatisation programs that encouraged foreign direct investment, and member states with relative low foreign direct investment inflows had economic profiles and relative privatisation programs that deterred foreign direct investment inflows. From the above the author has inferred that the Southern African Development Community in principle attracted foreign direct investment, but not to its full potential. The reason may be that although the member states’ economic profiles are favourable for foreign direct investment, their economic growths tend to fluctuate, and the future economic profiles are therefore unpredictable. With the above in mind this mini-treatise aims to address the question as to what steps the governments of the Southern African Development Community’s member states could follow in order to attract foreign direct investment. iii The author is of opinion that the member states should endeavour to maintain an annual average economic growth rate, and that the governments continue to engage into privatisation programs in order to encourage foreign direct investment.
- Full Text:
- Date Issued: 2008
- Authors: Botha, Richard Kruger
- Date: 2008
- Subjects: Southern African Development Community , Africa, Southern -- Foreign economic relations , Africa, Southern -- Economic integration , Africa, Southern -- Economic conditions
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8716 , http://hdl.handle.net/10948/926 , Southern African Development Community , Africa, Southern -- Foreign economic relations , Africa, Southern -- Economic integration , Africa, Southern -- Economic conditions
- Description: In order to assess the question as to whether the Southern African Development Community in principle attracts foreign direct investment, literature and data have been cited that compared the economic profiles and relative privatisation programs of member states of the Southern African Development Community with relative high inflows of foreign direct investment with the economic profiles and relative privatisation programs of member states with relative low inflows of foreign direct investment. Qualitative research has been conducted, and the author is of opinion that generally the member states with relative high foreign direct investment inflows had economic profiles and relative privatisation programs that encouraged foreign direct investment, and member states with relative low foreign direct investment inflows had economic profiles and relative privatisation programs that deterred foreign direct investment inflows. From the above the author has inferred that the Southern African Development Community in principle attracted foreign direct investment, but not to its full potential. The reason may be that although the member states’ economic profiles are favourable for foreign direct investment, their economic growths tend to fluctuate, and the future economic profiles are therefore unpredictable. With the above in mind this mini-treatise aims to address the question as to what steps the governments of the Southern African Development Community’s member states could follow in order to attract foreign direct investment. iii The author is of opinion that the member states should endeavour to maintain an annual average economic growth rate, and that the governments continue to engage into privatisation programs in order to encourage foreign direct investment.
- Full Text:
- Date Issued: 2008
The tax implications of a private equity buy-out : a case study of the Brait-Shoprite buy-out
- Authors: Mawire, Patrick N
- Date: 2008
- Subjects: South African Revenue Service , Consolidation and merger of corporations -- Finance , Taxation -- Law and legislation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8959 , http://hdl.handle.net/10948/803 , South African Revenue Service , Consolidation and merger of corporations -- Finance , Taxation -- Law and legislation -- South Africa
- Description: This treatise examines the history of private equity as a context in which to understand its role in the economy and specifically, the background for the high profile leveraged buy-outs that have been entered into in the past year. The treatise then focuses specifically on the Brait-Shoprite buy-out, examining its structure and the tax implications. The treatise then reviews the reaction of the South African Revenue Authority (“SARS”) to the buy-out and evaluates whether it was the best approach that could have been taken under the circumstances. As a result of the research, the following conclusions have been reached: Private equity transactions Private equity transactions have a role to play in the business world despite the apprehensions of tax authorities. The perception that these transactions are tax driven as part of an avoidance scheme is not justified. Structure of the Shoprite buy-out transaction: The Shoprite buy-out transaction was structured to obtain deduction for interest. The transaction was also structured to utilise the relief provisions of Part II of Chapter II (Special Provisions Relating to Companies) of the Income Tax Act no.58 of 1962, as amended (“the Act”). The relief was for capital gains tax (“CGT”) on disposal of the Shoprite assets. Finally, the transaction was designed to allow the existing shareholders to exit their investments free of Secondary Tax on Companies (“STC”). The reaction of SARS to the Shoprite buy-out transaction Whereas SARS may have been justified in questioning the structure and its impact on fiscal revenue, the response in the form of withdrawing STC relief from amalgamation transactions in section 44 was not in the best interest of a stable tax system and the majority of tax payers who are not misusing or abusing loopholes in the income tax legislation. It may have been possible for SARS to attack the structure based on the General Anti-Avoidance Rule (GAAR) in part IIA of the Chapter III of the Act.
- Full Text:
- Date Issued: 2008
- Authors: Mawire, Patrick N
- Date: 2008
- Subjects: South African Revenue Service , Consolidation and merger of corporations -- Finance , Taxation -- Law and legislation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8959 , http://hdl.handle.net/10948/803 , South African Revenue Service , Consolidation and merger of corporations -- Finance , Taxation -- Law and legislation -- South Africa
- Description: This treatise examines the history of private equity as a context in which to understand its role in the economy and specifically, the background for the high profile leveraged buy-outs that have been entered into in the past year. The treatise then focuses specifically on the Brait-Shoprite buy-out, examining its structure and the tax implications. The treatise then reviews the reaction of the South African Revenue Authority (“SARS”) to the buy-out and evaluates whether it was the best approach that could have been taken under the circumstances. As a result of the research, the following conclusions have been reached: Private equity transactions Private equity transactions have a role to play in the business world despite the apprehensions of tax authorities. The perception that these transactions are tax driven as part of an avoidance scheme is not justified. Structure of the Shoprite buy-out transaction: The Shoprite buy-out transaction was structured to obtain deduction for interest. The transaction was also structured to utilise the relief provisions of Part II of Chapter II (Special Provisions Relating to Companies) of the Income Tax Act no.58 of 1962, as amended (“the Act”). The relief was for capital gains tax (“CGT”) on disposal of the Shoprite assets. Finally, the transaction was designed to allow the existing shareholders to exit their investments free of Secondary Tax on Companies (“STC”). The reaction of SARS to the Shoprite buy-out transaction Whereas SARS may have been justified in questioning the structure and its impact on fiscal revenue, the response in the form of withdrawing STC relief from amalgamation transactions in section 44 was not in the best interest of a stable tax system and the majority of tax payers who are not misusing or abusing loopholes in the income tax legislation. It may have been possible for SARS to attack the structure based on the General Anti-Avoidance Rule (GAAR) in part IIA of the Chapter III of the Act.
- Full Text:
- Date Issued: 2008
The use of mobile commerce to improve the services of life insurance post sale activities
- Authors: Afrifa, Rexford
- Date: 2008
- Subjects: Mobile commerce -- South Africa , Mobile computing -- South Africa , Mobile communication systems -- South Africa , Personal communication service systems -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8718 , http://hdl.handle.net/10948/913 , Mobile commerce -- South Africa , Mobile computing -- South Africa , Mobile communication systems -- South Africa , Personal communication service systems -- South Africa
- Description: Mobile commerce, due to its inherent characteristics of mobility and reachability in enhancing personalized services provides an excellent means for life insurers to exploit such avenue in their service offerings. The objective of this study was to determine whether mobile commerce can be used to improve the services of life insurance post-sale activities. This objective was achieved with the relevant literature and empirical study. To accomplish the objective of this treatise, a triangulated research approach was selected and a multiple-case study consisting of four cases was conducted. The four cases selected comprised of leading insurers with large market share in the life insurance market in South-Africa. The primary data were collected through questionnaire and face-to-face interviews with selected respondents. The main finding shows that the respondents had a positive view about mobile commerce and its application in their companies. This was demonstrated by 80 percent of respondents who agreed that mobile commerce was more of an opportunity rather than a challenge or even a threat for the life insurance market. The results also indicate that customer relationship management, mobile messaging services and field service automation functions were used by all the insurers; although minor discrepancies were observed due to the efficiency of each firms IT infrastructure. The Internet was found to assist in the collection of more precise data, to increase service performing abilities. Some of the major obstacles that were found to hinder the deployment of mobile commerce in the industry were security concerns, low and infrequent internet usage and performance by supporting industries. Cumbersome and inefficient legacy systems were declared as the greatest technological weakness particularly by respondents from case 1 and 2. Conversely, hardware and network infrastructure, lack of software packages, lack of technical expertise and the fear of disintermediation was rated low in hindering the deployment of mobile commerce. However, according to the findings the key benefits derived from engaging in increased mobile commerce activities include enhancing customer contact and service, more transparency and speed of claims management, increasing client retention and policy extension rates hence increasing overall company profit.
- Full Text:
- Date Issued: 2008
- Authors: Afrifa, Rexford
- Date: 2008
- Subjects: Mobile commerce -- South Africa , Mobile computing -- South Africa , Mobile communication systems -- South Africa , Personal communication service systems -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8718 , http://hdl.handle.net/10948/913 , Mobile commerce -- South Africa , Mobile computing -- South Africa , Mobile communication systems -- South Africa , Personal communication service systems -- South Africa
- Description: Mobile commerce, due to its inherent characteristics of mobility and reachability in enhancing personalized services provides an excellent means for life insurers to exploit such avenue in their service offerings. The objective of this study was to determine whether mobile commerce can be used to improve the services of life insurance post-sale activities. This objective was achieved with the relevant literature and empirical study. To accomplish the objective of this treatise, a triangulated research approach was selected and a multiple-case study consisting of four cases was conducted. The four cases selected comprised of leading insurers with large market share in the life insurance market in South-Africa. The primary data were collected through questionnaire and face-to-face interviews with selected respondents. The main finding shows that the respondents had a positive view about mobile commerce and its application in their companies. This was demonstrated by 80 percent of respondents who agreed that mobile commerce was more of an opportunity rather than a challenge or even a threat for the life insurance market. The results also indicate that customer relationship management, mobile messaging services and field service automation functions were used by all the insurers; although minor discrepancies were observed due to the efficiency of each firms IT infrastructure. The Internet was found to assist in the collection of more precise data, to increase service performing abilities. Some of the major obstacles that were found to hinder the deployment of mobile commerce in the industry were security concerns, low and infrequent internet usage and performance by supporting industries. Cumbersome and inefficient legacy systems were declared as the greatest technological weakness particularly by respondents from case 1 and 2. Conversely, hardware and network infrastructure, lack of software packages, lack of technical expertise and the fear of disintermediation was rated low in hindering the deployment of mobile commerce. However, according to the findings the key benefits derived from engaging in increased mobile commerce activities include enhancing customer contact and service, more transparency and speed of claims management, increasing client retention and policy extension rates hence increasing overall company profit.
- Full Text:
- Date Issued: 2008