skip to main content
Language:
Search Limited to: Search Limited to: Resource type Show Results with: Show Results with: Search type Index

Challenges faced by CEOs in executing turnaround strategies in state-owned enterprises in South Africa

South African journal of business management, 2024, Vol.55 (1), p.1-14 [Peer Reviewed Journal]

COPYRIGHT 2024 African Online Scientific Information Systems (Pty) Ltd t/a AOSIS ;This work is licensed under a Creative Commons Attribution 4.0 International License. ;ISSN: 2078-5585 ;ISSN: 2078-5976 ;EISSN: 2078-5976 ;DOI: 10.4102/sajbm.v55i1.4220

Full text available

Citations Cited by
  • Title:
    Challenges faced by CEOs in executing turnaround strategies in state-owned enterprises in South Africa
  • Author: Mpete, Morongwa ; Maier, Christoph
  • Subjects: Auditors ; Business ; ceo ; challenges ; Chief executive officers ; Chief financial officers ; China ; Corporate governance ; Financial statements ; Government business enterprises ; Management ; Natural resources ; Officials and employees ; Political activity ; Political aspects ; South Africa ; state-owned enterprise ; turnaround
  • Is Part Of: South African journal of business management, 2024, Vol.55 (1), p.1-14
  • Description: Purpose Building on theories of the firm, this research examines the challenges faced by chief executive officers (CEOs) in executing a turnaround strategy in the state-owned enterprises (SOEs) in South Africa. Design/methodology/approach This is a qualitative study conducted within 10 of the 21 SOEs classified as Schedule 2 (major public institutions) in the Public Finance Management Act (PFMA) that previously embarked on a turnaround. The study comprised 24 semi-structured interviews with CEOs, chief financial officers (CFOs), chief operating officers (COOs), boards, union representatives, regulators, and shareholders as the key players in a turnaround of a SOE. Thematic analysis was used to analyse data. Findings/results This research suggests that political landscape and power struggles, inappropriate practices of board, politicians and shareholders, inefficient internal operations, leadership instability, legislation and corporate governance hinder the execution of turnaround strategies in the SOEs. This research is consistent with public choice, agency and resource dependence theories. Practical implications State-owned enterprises need to be free from political interference to be able to turn around. Government, board, shareholders, communities, regulators, service providers and unions need to relook at how they portray the CEOs of SOEs, and rethink how they deal with them. Originality/value This research contributes to policy, theory, practice, economy and society by expanding the theories of the firm, capturing real-life challenges the CEOs of SOEs face in executing a turnaround strategy and solutions to tackle the challenges. A roadmap to assist SOEs in executing a turnaround strategy successfully is recommended.
  • Publisher: African Online Scientific Information Systems (Pty) Ltd t/a AOSIS
  • Language: English;Portuguese
  • Identifier: ISSN: 2078-5585
    ISSN: 2078-5976
    EISSN: 2078-5976
    DOI: 10.4102/sajbm.v55i1.4220
  • Source: SciELO
    DOAJ Directory of Open Access Journals
Back to results list
INSPIRE LIBRARY - TON DUC THANG UNIVERSITY (84-028) 37 755 057 Feedback
19 Nguyen Huu Tho St. Dist.7, HCM thuvien@tdtu.edu.vn

Copyright © 2017 INSPIRE LIBRARY - TON DUC THANG UNIVERSITY

Searching Remote Databases, Please Wait