Browsing by Author "Van der Walt, J. C."
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- ItemDecision support for open-air irrigation reservoir control(Operations Research Society of South Africa, 2018) Van der Walt, J. C.; Van Vuuren, J. H.ENGLISH ABSTRACT: The availability of irrigation water greatly impacts on the profitability of the agricultural sector in South Africa and is largely determined by prudent decisions related to water release strategies at open-air irrigation reservoirs. The selection of such release strategies is difficult, since the objectives that should be pursued are not generally agreed upon and unpredictable weather patterns cause reservoir inflows to vary substantially between hydrological years. In this paper, a decision support system is proposed for the selection of suitable water release strategies. The system is based on a mathematical model which generates a probability distribution of the reservoir volume at the end of a hydrological year based on historical reservoir inflows. A release strategy is then computed which centres the expected hydrological year-end reservoir volume on some user-specified target value subject to user-specified weight factors representing demand satisfaction importance during the various decision periods of the hydrological year. The probability of water shortage for a given year-end transition volume may be determined by the decision support system, which allows for the computation of acceptable trade-off decisions between the fulfilment of current demand and the future repeatability of a release strategy. The system is implemented as a computerised concept demonstrator which is validated in a special case study involving Keerom Dam, an open-air reservoir in the Nuy agricultural district near Worcester in the South African Western Cape. The system's strategy suggestions are compared to historically employed strategies and the suggested strategies are found to fare better in maintaining reservoir storage levels whilst still fulfilling irrigation demands.
- ItemThe effect of incentive based directors' remuneration on ethical decision making in organisations(Stellenbosch : Stellenbosch University, 2003-12) Van der Walt, J. C.; Esterhuyse, W. P.; Stellenbosch University. Faculty of Arts and Social Sciences. Dept. of Philosophy.ENGLISH ABSTRACT: The historical development of the role of directors in public listed companies contains inherent tensions by reference to the fiduciary responsibility of directors and the method in which directors are remunerated. The nature of incentive based remuneration is such that it will compel directors, in certain circumstances, to weigh their interests against those towards whom they owe a duty of care and a moral responsibility to act with prudence and temperance. The modem day corporate environment is complex and calls for directors with strong ethical views. This assignment endeavours to identify some of the complexities that contribute towards directors finding it difficult to stay on the ethical "straight and narrow" and attempts to weigh the effect of those factors against the effect of incentive remuneration, both as detractors from ethical behaviour. Both the shareholder supremacy business model and the stakeholder approach are analysed to identify those factors present in each that may add to the ethical complexity that directors have to deal with. The advent of the stakeholder approach in particular, adds an enormous amount of complexity. The case studies deal with two South African financial services companies that have both ceased trading as a consequence of unethical behaviour. The incentive remuneration models of both companies have been found to have played a major contributing role in the decision making processes in the companies, and have contributed to the demise of these organisations. Lessons are taken from the case studies and applied against the backdrop of the various principles of ethical behaviour namely rights, utility, justice and the ethics of responsibility. The finding of this study is that there is a role for incentive remuneration of directors, provided that the ethical pitfalls that this causes are recognised and steps taken to address them. Some of these steps are identified.