The evolution of the function and role of finance within the current South African business envionment
- Sonjica, Siphokazi Nondumiso
- Authors: Sonjica, Siphokazi Nondumiso
- Date: 2014
- Subjects: Business enterprises -- Finance , Industrial management -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8925 , http://hdl.handle.net/10948/d1021144
- Description: The objective of this study was to determine the extent to which the finance function has evolved from being mere transactional – into one being more value-adding and business-partnering. The main focus of this study is on the role of finance as a business partner. Its main function is to add value to the business and the operations, and to offer the required support, in order for management to be able to make the right decisions. In this role, finance is regarded as part of the management team – and not just an external support function providing number ‘crunching’ – but a member that provides valuable input in the processes that the business follows. They become an in-house consultant for the business, thereby providing technical knowledge, which is aligned to the manner in which the business conducts its operations. The activities that are to be done by finance in this role comprise the following: Alignment of the functions of finance with those of the business, and what is thereby required; Providing information to the business on a timely basis; Providing information that assists and is relevant in the decision-making process of the business; Having a balance between providing governance support, as well as ensuring adequate control of the assets of the organisation. Reducing non-value adding activities that can be outsourced, such as standard reports, which can be developed and housed within a linked IT system. In order to be able to perform these activities effectively, there needs to be adequate support from the organisation’s IT environment, where standard templates can be developed, which are linked, and which lead to the availability of time for the analysis of the data. The resources also needs to have the required soft skills – of which communication and the ability to influence are important aspect – as there would be times when the people in operations would need to align their business decisions to the right finance decision – without becoming an obstruction to the business. A survey was carried out involving the accountants, whose role was to support the business in the South African environment, and which provided information on the following research questions: (i) Are finance professionals moving towards becoming business partners and away from transactional back-office work? (ii) What are the main reasons for the lack of transformation of the finance function? (iii) Is the size of the organisation a factor in its transformation? (iv) Does the fact that a company is a multinational or a South African organisation have any impact on the transition? The results of the survey were used to draw a conclusion on the extent of the change in the role of finance. The research concluded that there had been some change in the role that finance was performing in regard to the business. However, there were still areas where more could be done to move the change along, and to arrive at a position where finance becomes a full business partner.
- Full Text:
- Date Issued: 2014
- Authors: Sonjica, Siphokazi Nondumiso
- Date: 2014
- Subjects: Business enterprises -- Finance , Industrial management -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8925 , http://hdl.handle.net/10948/d1021144
- Description: The objective of this study was to determine the extent to which the finance function has evolved from being mere transactional – into one being more value-adding and business-partnering. The main focus of this study is on the role of finance as a business partner. Its main function is to add value to the business and the operations, and to offer the required support, in order for management to be able to make the right decisions. In this role, finance is regarded as part of the management team – and not just an external support function providing number ‘crunching’ – but a member that provides valuable input in the processes that the business follows. They become an in-house consultant for the business, thereby providing technical knowledge, which is aligned to the manner in which the business conducts its operations. The activities that are to be done by finance in this role comprise the following: Alignment of the functions of finance with those of the business, and what is thereby required; Providing information to the business on a timely basis; Providing information that assists and is relevant in the decision-making process of the business; Having a balance between providing governance support, as well as ensuring adequate control of the assets of the organisation. Reducing non-value adding activities that can be outsourced, such as standard reports, which can be developed and housed within a linked IT system. In order to be able to perform these activities effectively, there needs to be adequate support from the organisation’s IT environment, where standard templates can be developed, which are linked, and which lead to the availability of time for the analysis of the data. The resources also needs to have the required soft skills – of which communication and the ability to influence are important aspect – as there would be times when the people in operations would need to align their business decisions to the right finance decision – without becoming an obstruction to the business. A survey was carried out involving the accountants, whose role was to support the business in the South African environment, and which provided information on the following research questions: (i) Are finance professionals moving towards becoming business partners and away from transactional back-office work? (ii) What are the main reasons for the lack of transformation of the finance function? (iii) Is the size of the organisation a factor in its transformation? (iv) Does the fact that a company is a multinational or a South African organisation have any impact on the transition? The results of the survey were used to draw a conclusion on the extent of the change in the role of finance. The research concluded that there had been some change in the role that finance was performing in regard to the business. However, there were still areas where more could be done to move the change along, and to arrive at a position where finance becomes a full business partner.
- Full Text:
- Date Issued: 2014
Factors contributing to occupational stress in student support staff in a Further Education and Training (FET) College in the Southern Cape
- Authors: De Klerk, Ulricha
- Subjects: Work -- Psychological aspects , Job stress -- South Africa -- Western Cape , College students -- South Africa -- Western Cape
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:10085 , http://hdl.handle.net/10948/d1020806
- Description: The main purpose of this study is to explore the factors that contribute to occupational stress as experienced by the Student Support staff in a Further Education and Training (FET) College in the Southern Cape. The Student Support staff has displayed many symptoms of stress over the past few years. This in turn has led to absenteeism, change in staff temperament, their feelings towards the College, motivation levels and a significant change in the staff’s day to day operations. Although the Head of Department for Student Support Services has engaged with the staff on numerous occasions to discuss the reasons for their experience of stress, no substantial reasons could be established in order to make the necessary changes in the department. No interventions that have been implemented to date have relieved the staff’s experience of stress. The researcher chose to use a qualitative, exploratory, descriptive and contextual research design to gain insight into the situation or phenomenon in order to identify the factors contributing to occupational stress and to identify measures that can be implemented to reduce occupational stress in the Student Support staff. The participants in this research included at least 10 Student Support staff within the Student Support Services Department at a Further Education and Training College in the Southern Cape. Purposive sampling was used in this research study. Interviews will continue until data saturation is achieved. The staff members must have been employed for at least one year in the Student Support Services Department. The researcher will make use of semi-structured interviews, observations and field notes. The data will be systematically collected and meanings, themes and general descriptions of the experience analysed within the specific context (de Vos, Strydom, Fouche & Delport, 2005). The researcher will make use of Tesch’s method of analysis, and use Guba’s strategies for ensuring Trustworthiness. The researcher will apply the ethical considerations of confidentiality, informed consent, ethical approval from relevant institutions, avoidance of harm to participants, truthfulness and the debriefing of participants when conducting this study. The findings were reported as three major themes and subthemes. The three major themes were; Student support staff identified several factors that contributed to occupational stress, Student support staff identified the effect that occupational stress has on them, Student support staff offered suggestions that the college could implement to reduce occupational stress. These themes were discussed and analysed in-depth.
- Full Text:
- Authors: De Klerk, Ulricha
- Subjects: Work -- Psychological aspects , Job stress -- South Africa -- Western Cape , College students -- South Africa -- Western Cape
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:10085 , http://hdl.handle.net/10948/d1020806
- Description: The main purpose of this study is to explore the factors that contribute to occupational stress as experienced by the Student Support staff in a Further Education and Training (FET) College in the Southern Cape. The Student Support staff has displayed many symptoms of stress over the past few years. This in turn has led to absenteeism, change in staff temperament, their feelings towards the College, motivation levels and a significant change in the staff’s day to day operations. Although the Head of Department for Student Support Services has engaged with the staff on numerous occasions to discuss the reasons for their experience of stress, no substantial reasons could be established in order to make the necessary changes in the department. No interventions that have been implemented to date have relieved the staff’s experience of stress. The researcher chose to use a qualitative, exploratory, descriptive and contextual research design to gain insight into the situation or phenomenon in order to identify the factors contributing to occupational stress and to identify measures that can be implemented to reduce occupational stress in the Student Support staff. The participants in this research included at least 10 Student Support staff within the Student Support Services Department at a Further Education and Training College in the Southern Cape. Purposive sampling was used in this research study. Interviews will continue until data saturation is achieved. The staff members must have been employed for at least one year in the Student Support Services Department. The researcher will make use of semi-structured interviews, observations and field notes. The data will be systematically collected and meanings, themes and general descriptions of the experience analysed within the specific context (de Vos, Strydom, Fouche & Delport, 2005). The researcher will make use of Tesch’s method of analysis, and use Guba’s strategies for ensuring Trustworthiness. The researcher will apply the ethical considerations of confidentiality, informed consent, ethical approval from relevant institutions, avoidance of harm to participants, truthfulness and the debriefing of participants when conducting this study. The findings were reported as three major themes and subthemes. The three major themes were; Student support staff identified several factors that contributed to occupational stress, Student support staff identified the effect that occupational stress has on them, Student support staff offered suggestions that the college could implement to reduce occupational stress. These themes were discussed and analysed in-depth.
- Full Text:
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