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Research Paper | Management | Volume 6 Issue 4, April 2017 | Pages: 463 - 468 | Uganda
Financial Controls and the Perceived Performance of the Sugar Factory in a Family Business Enterprise: Evidence from the Madhvani Sugar Factory in Uganda
Abstract: This paper examines what it takes for family businesses to succeed with a focus on the Madhvani group sugar factory in Uganda. A sample of thirty (36) supervisors was used to determine the effect of financial control practices on the perceived performance of the factory. The main purpose of the study was to examine the effect of financial controls in predicting the performance of the sugar factory which has been a success story for the family for decades now. The specific objectives were, (1) to determine the relationship between compliance with financial policies and procedures and the perceived performance of the sugar industry, (2) to establish the relationship between the application of adequate financial and management controls and the perceived performance of the sugar factory, and (3) to ascertain the effect of safeguarding assets on perceived performance of the sugar factory. Results reveal that, (i) there is a significant and positive correlation between compliance with financial policies and procedures and the perceived performance of the sugar factory [r =.774**, p
Keywords: Financial controls, management controls, performance, family business, safeguarding
How to Cite?: Kaziba Abdul Mpaata, Bumali Lubogoyi, John Charles Okiria, "Financial Controls and the Perceived Performance of the Sugar Factory in a Family Business Enterprise: Evidence from the Madhvani Sugar Factory in Uganda", Volume 6 Issue 4, April 2017, International Journal of Science and Research (IJSR), Pages: 463-468, https://www.ijsr.net/getabstract.php?paperid=ART20172155, DOI: https://dx.doi.org/10.21275/ART20172155