EXECUTIVE TRAINING: UNDERSTANDING B-BBEE IN THE CTFL INDUSTRY1 August 2018
A 2015 McKinsey study found that companies that were in the top 75% for management diversity (gender, ethnicity) had profits that were 35% higher than the industry norm. The transformation has become increasingly important for businesses in South Africa, not merely as a reaction to legislation but as an intrinsic aspect of company strategy. As such, the B-BBEE legislation has been used as a tool to encourage transformation.
The KZN CTC hosted an executive training session that focused on understanding B-BBEE in the CTFL industry, including enterprise and supplier development. Effective enterprise and supplier development can assist firms in building sustainable, mutually beneficial relationships with suppliers and business partners.
The programme covered:
Overview of the Amended B-BBEE Act
Overview of the Amended Codes of Good Practice
Overview of the Generic Scorecard (for large entities)