Data Visualization of Budgeting Assumptions: An Illustrative Case of Trans-disciplinary Applied Knowledge
- Authors: Cuthbert, Carol E , Pearse, Noel J , Bradshaw, Karen L
- Date: 2024
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/440236 , vital:73759 , xlink:href="https://doi.org/10.54808/JSCI.22.01.130"
- Description: Trans-disciplinary research combines different fields into new conceptual and methodological frameworks. In this study, the SECI model of knowledge creation, which consists of Socialization, Externalization, Combination, and Internalization conversion modes, is used to analyze the implementation of a structured budgeting visualization system by a trans-disciplinary team. Through applied research in implementing a global budgeting system, budgeting assumptions are made explicit through visualization, transforming the approach to the budgeting process and its accuracy. This visualization, in turn, is enabled by assumptions underlying revenue planning, business services and employee compensation, and a visual process. The system displays a stepped approach, indicated by icons, representing the tasks involved in the budget process. For example, the system requires uploading the previous year’s information, setting the assumptions, calculating the suggested figures based on assumptions, and amending the proposed outcome. As adapted by Rice and Rice (2005), SECI is applied as the socialization of tacit-to-tacit budgeting assumption knowledge is solidified during the design phase of this transformation exercise. The externalization phase, in which budgeting assumptions are transformed from tacit to explicit, is evidenced during the configuration phase of the new system. The systemic collaboration results in the explicit assumptions being collectively leveraged across the regions during and after the “go-live” phase of system development. Finally, the internalization phase involves the explicit assumptions being transformed into new tacit knowledge as the experts evolve new assumptions derived from the transformation process. Semiotics provides variance information through hue, with, for example, darker colours indicating higher variances. This trans-disciplinary communication provides the means for increased efficiency and effectiveness. The resulting budget framework is visually validated through a heatmap by comparing the budgeting accuracy and assumption complexity between the different regions where it was implemented. In summary, value is added in developing a new data visualization process, focusing on the role of budgeting assumptions and using planning process visualizations. This approach improves communication efficiency, effectiveness, and understanding of budgeting while enhancing accuracy.
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- Date Issued: 2024
Schooling and institution quality linked to earnings in the Eastern Cape
- Authors: Cuthbert, Carol E
- Date: 2018
- Subjects: Wages -- Effect of education on -- South Africa -- Eastern Cape Education, Higher -- Economic aspects -- South Africa -- Eastern Cape Equality -- South Africa -- Eastern Cape
- Language: English
- Type: text , Thesis , Masters , MBA
- Identifier: http://hdl.handle.net/10962/62166 , vital:28134
- Description: Return to investment for tertiary education is not equal for all. Human Capital Theory imposes a linear pathway between education and earnings, that fails to recognise other sources of capital, ignores social returns and does not explain why socio-economic variables influence employability and earnings. Those returns, rather than simply incrementally delivering returns for additional years of education, are however heterogeneous across students, with field of study, gender and population group influencing earnings; and schooling type and university attended filtering whether one finds a job. This study utilises data from Rhodes University and the University of Fort Hare, illustrating the extreme positions within the South African education landscape, employing a Heckman selection to predict the returns on education. The regression is found to be partially successful in predicting a graduate’s ability to find a job, in the first instance, and thereafter their returns. It is crucial to analyse the heterogeneity of socio-economic parameters to understand aspects of the economy, and develop education policies to take advantage of this understanding, especially against the backdrop of the student protests being experienced in the country and the funding models proposed. Access to tertiary education, through policy inducement, such as the recent increase of the grant limit from R122 000 to R350 000, requires disaggregated returns to education to be investigated.
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- Date Issued: 2018