A framework for corporate governance and organisational performance in the Fourth Industrial Revolution.

Abstract

ENGLISH ABSTRACT Corporate governance is becoming more widely recognized as a critical factor in determining an organization's overall performance. The King Code I-IV was created to provide a corporate governance framework for South African corporations that is easy to understand and follow. The fourth industrial revolution forces change and flexibility, necessitating innovation in order to compete in a fast-changing environment. The purpose of the research was to look at the basic endemic corporate governance practices that make Ithala Development Finance Corporation (IDFC) efficient and come up with a conceptual and legislative framework for them. Microsoft Forms were used to collect the information. The study used a pragmatic mixed methods approach. The descriptive statistics were calculated using the Statistical Package for the Social Sciences (SPSS) version 27. All study components were subjected to exploratory factor analysis (EFA), and research hypotheses were tested using Structural Equation Modelling (SEM) in SmartPLS version 3. The findings of the study confirmed a relationship between board independence and organisational performance. The findings on board diversity were inconclusive. The relationship between board committees and organisational performance was not supported. The relationship between board oversight responsibility and organisational performance was positively confirmed. Finally, the relationship between a CEO's people-centred leadership skills and organisational performance was positively confirmed and supported. The study is limited to IDFC and cannot be generalised. The findings of this study will add to growing existing knowledge that will aid in the understanding of corporate governance's impact on organisational performance. This research will also assist business leaders in implementing King IV and corporate governance as a driver of organisational performance and the fourth industrial revolution. This thesis's theoretical framework, conceptual framework, and results are likely to entice researchers to do further study into identifying the parts of corporate governance that are critical for strong organisational performance. It should also encourage practitioners, executives of state-owned enterprises, and researchers of strategy, business leadership, and corporate governance to participate more deeply in discussions about the fourth industrial revolution and organisational performance. The findings should find significance to public officials and government leaders, given their considerable interest in long-term company success. isiZULU ABSTRACT Ukuphathwa kwebhizinisi sekuqashelwa kabanzi njengento ebalulekile ekunqumeni ukusebenza kwenhlangano kukonke. I-King Code I-IV yadalelwa ukuhlinzeka ngohlaka lokuphatha ngebhizinisi lwezinkampani zaseNingizimu Afrika okulula ukuluqonda nokululandela. Uguquko lwesine lwezimboni luphoqa uguquko kanye nokuvumelana nezimo, okudinga ukusungulwa okusha ukuze kuqhudelane endaweni eshintsha ngokushesha. Inhloso yocwaningo bekuwukubheka izinqubo eziyisisekelo zokuphatha izinkampani ezenza Ithala Development Finance Corporation (IDFC) isebenze kahle futhi iqhamuke nohlaka lomqondo kanye nemithetho yazo. Amafomu e-Microsoft asetshenziselwa ukuqoqa ulwazi. Ucwaningo lusebenzise izindlela ezixubile zepragmatic. Izibalo ezichazayo zibalwe kusetshenziswa iPhakheji Yezibalo Yesayensi Yezenhlalakahle (SPSS) inguqulo 27. Zonke izingxenye zocwaningo zacutshungulwa iexploratory factor analysis (EFA), futhi imibono yocwaningo yahlolwa kusetshenziswa i-Structural Equation Modeling (SEM) kunguqulo yesi-3 ye-SmartPLS. Okutholwe ocwaningweni kuqinisekise ubudlelwano phakathi kokuzimela kwebhodi nokusebenza kwenhlangano. Okutholwe ekuhlukeni kwebhodi bekungaphelele. Ubudlelwano phakathi kwamakomiti ebhodi nokusebenza kwenhlangano abusekelwanga. Ubudlelwano phakathi kwesibopho sokwengamela ibhodi nokusebenza kwenhlangano buqinisekiswe kahle. Ekugcineni, ubudlelwano phakathi kwamakhono obuholi obugxile kubantu abango-CEO kanye nokusebenza kwenhlangano baqinisekiswa futhi basekelwa. Ucwaningo lukhawulelwe ku-IDFC futhi alukwazi ukwenziwa jikelele. Okutholwe kulolu cwaningo kuzokwengeza olwazini olukhona olukhulayo oluzosiza ekuqondeni umthelela wokuphatha ngokubambisana ekusebenzeni kwenhlangano. Lolu cwaningo luzosiza futhi abaholi bamabhizinisi ekusebenziseni i-King IV kanye nokuphathwa kwebhizinisi njengomshayeli wokusebenza kwenhlangano kanye nenguquko yesine yezimboni. Uhlaka lwale thesis, uhlaka lomqondo, kanye nemiphumela cishe izoheha abacwaningi ukuthi benze ucwaningo olwengeziwe ukuze bahlonze izingxenye zokubusa kwebhizinisi ezibalulekile ekusebenzeni okuqinile kwenhlangano. Kufanele futhi ikhuthaze abasebenzi, abaphathi bezinkampani zikahulumeni, nabacwaningi bamasu, ubuholi bamabhizinisi, kanye nokuphathwa kwebhizinisi ukuthi babambe iqhaza bajule ezingxoxweni mayelana nenguquko yesine yezimboni nokusebenza kwenhlangano. Okutholakele kufanele kube okubaluleke kakhulu ezikhulwini zikahulumeni kanye nabaholi bakahulumeni, uma kubhekwa intshisekelo yabo enkulu empumelelweni yesikhathi eside yenkampani.