The importance of Acquiring BBBEE Knowledge
Original publish date – Fri, 24 Apr 2009 08:12:18 +0000, patience
The collapse of BEE deals and the recent notice by the minister of trade and industry on verification is definitely a sign that companies need to acquire knowledge and properly implement BBBEE. “Knowledge will forever govern ignorance; and a people who mean to be their own governors must arm themselves with the power which knowledge gives.” (James Madison the fourth president of USA)
Many companies have tended to focus on a quick fix to transformation or on the ownership element leaving the other elements of BBBEE.
All this points to the importance of acquiring BBBEE knowledge. For instance enterprises can earn points by incorporating black women into the mainstream economic development. However a snap shot of the top companies shows management, employment equity and skills development elements still needs improvement. Black women have enhanced recognition through the Adjusted Recognition for Gender calculations. If an enterprise has black women that make up at least 50% of the overall set targets for black people they increase their points on management, employment equity and skills development elements. According to a recent report by the Business Women Association (BWA) in The Star Business report, there is a general increase in the employment of women in top executive positions. The increase is still minimal and not representative of the large pool of women available to take up these positions and black women fill fewer leadership roles.
It is time for companies to arm themselves with the power of BBBEE knowledge. Our conferences/seminars/workshops and the BEE scorecard methodology to help you carry out initiatives that will make you earn the points you deserve and also accurately calculate your points.