The importance of your B-BBEE scorecard
In South Africa, it is widely understood that a compliant B-BBEE scorecard is the ticket to business growth. In today’s business landscape, the competitive advantage that an organisation enjoys if they can stand B-BBEE proud is a hugely motivating factor in preferential procurement.
But let us haste to add that it is not only the intelligent thing to do for your business, but it is also the right thing to do. Who amongst us does not want to see others prosper and achieve their full potential? The deep sense of satisfaction and joy that comes with seeing our colleagues fly high is unparalleled.
But the hard fact is that it is not always easy to navigate our way around the many considerations and requirements of the B-BBEE Act, first promulgated in 2003. There are many approaches to training formats and how to obtain the desired outcomes when it comes to true empowerment and the development of new skills in the workplace. Training budgets can be leveraged to maximise transformation results once one factor, such as the role of women in the workplace, are considered. The challenge is to effect all these changes with minimum disruption to the business objectives, and, of course, at the most reasonable investment levels for the organisation. These achievements are only possible if a company has access to the right advice as well as a clear growth strategy in place.
The ever-changing business landscape in South Africa means we have to obtain the latest guidance to make optimal use of the opportunities that may exist in your business category. This is where a truly professional B-BBEE consultancy should step in to help you and your organisation to identify gaps that may exist and advise on how best to fill them. There may be considerations around mergers and acquisitions, for example, and about potential partnerships that could impact your business positively or negatively, if you go about it the wrong way.
What training and workshops should you be considering? How do these things affect your supply and value chain management? What business integration activities should you be pursuing?
The list of questions could go on and on. Luckily the answers are easy to find – provided you are knocking on the right door!