Abstract
The most indispensable means of change in contemporary business society is technology because it offers convenience to both businesses and their clients. Almost every business has been influenced by technology. Traditional corporate governance systems have been affected as technology has ceased to be a mere business enabler but is now a source of a company's future potential opportunities. The infusion of corporate governance and technology has been quite slow in South Africa. This may either be attributed to the fact that it is costly to do so, at least in the short term, or that company directors in South Africa do not yet trust technological measures with corporate decision-making input. Consequently, the impact of decision support technology on corporate entities and their governance has received less academic interest in South Africa than in developed countries. This article seeks to discuss the integration and reliance on technology to enhance corporate governance principles in developing countries like South Africa. The article also discusses the practical challenges and the benefits to be anticipated by directors in South Africa when they integrate technology in decision making to enhance their independence and accountability.
Highlights
The most influential means of change in contemporary business society is technology because it is convenient to businesses and their clients.1 The scarcity of literature on the integration of corporate governance and technology in South Africa makes it pertinent to define some key terms that are employed in this article
The article discusses the practical challenges and the benefits to be anticipated by directors in South Africa when they integrate technology in decision making to enhance their independence and accountability
A 2018 survey conducted by SYSPRO Private Limited in 400 South African companies revealed that only 13% of information technology (IT) companies' decision makers used big data and machine learning for decision making
Summary
How to cite this article Hamdziripi F and Chitimira H "The Integration and Reliance on Technology to Enhance the Independence and Accountability of Company Directors in South Africa" PER / PELJ 2021(24) - DOI http://dx.doi.org/10.17159/17273781/2021/v24i0a10737
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