A Corporate Governance Perspective to State Owned Enterprises in Zimbabwe: A Case Study of Air Zimbabwe
2017; Institute for Operations Research and the Management Sciences; Volume: 7; Issue: 6 Linguagem: Inglês
ISSN
1526-5501
Autores Tópico(s)Business Strategies and Management Research
ResumoThe research made use of the case of Air Zimbabwe to analyse corporate governance practices in Zimbabwe’s State Owned Enterprise (SOEs). The research was prompted by the persistent poor performance and corporate failures characterising most SOEs in Zimbabwe. Air Zimbabwe has not been spared from corporate failures and corruption which has seen it relying on government subsidies to afloat. The research methodology for the collection of data involved the quantitative and qualitative techniques. When the data was collected, it was presented and analysed with the assistance of descriptive statistics which comprised of graphs, tables and descriptive narrations. A total of 48 Air Zimbabwe management staff, employees and Board members were surveyed through interviews and questionnaires. Results of the study indicate that there is poor corporate governance compliance at Air Zimbabwe which has led to corruption and lack of transparency and accountability. The results also point to the non availability of a written corporate governance policy which is supposed to guide the company in implementing corporate governance. In addition there is no performance monitoring mechanism for the Board members some of whom are appointed on political grounds without the requisite airline business knowledge. Given these shortcomings, the study recommends an overhaul of the enforcement machinery and establishment of a regulatory agency or framework to enforce compliance and transparency.
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