Analysis of Namdeb's turnaround strategy to improve its financial performance in view of declining carats profile
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Date
2010
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Abstract
This study reviews the effectiveness of the analysis of Namdeb's turnaround strategy to improve its financial performance in view of declining carats profile. The study was triggered by the continuous uncertainty in land operations, which is affecting Namdeb's financial profits. The study determines the extent to which the company's financial performance is attributed to its turnaround strategy, identify factors that are crucial to the company and suggest ways to improve the company's overall financial performance
The study uses the qualitative approach, taking into consideration experience from other mining industries as a frame of reference. The sources of data include grey literature, official documentations, secondary literature, questionnaires and interviews
The analysis done and conclusions drawn underlines the need to review the current introduced turnaround strategy and adopt strategies that might be useful to improve the financial performance and extend the life of the mine successfully. A great emphasis need to be drawn on attracting and retaining skilled staff, determine an approach to deal with possible retrenchment, introduce and identify new technological methods. The role of management in the current situation is going to be crucial
Description
a research report submitted in partial fulfillment of the requirements for the degree of Masters of Science in Accounting and Finance
Keywords
Mines and mineral resources, Diamond mines and mining Namibia