Running a company is hard work. It requires a level of organisational skill and a commitment to policy implementation that not many people have in their business repertoire. This is especially true when it comes to a particularly important aspect of business in South Africa – namely, ensuring that you are effectively documenting your business’s Broad-Based Black Economic Empowerment programmes and commitments.
“When it comes to ensuring that your B-BBEE investment is effective, and results in the maximum return on investment for all involved, we find it’s best to adopt a measured approach,” says Angie Lanham-Love, CEO of Lanham-Love Consulting. “An excellent way to begin this approach is to see your B-BBEE implementation process as a journey – one that needs a roadmap, with dedicated check points along the way.”
“The first step on your B-BBEE journey is to establish where your B-BBEE is working – as well as where it isn’t,” says Lanham-Love. “Once you know where there is room to improve, you can begin to put programmes and initiatives in place to fill in these B-BBEE gaps. You may be astounded to realise that there are areas in which you could be achieving points for on the B-BBEE scorecard that you have not even considered previously.”
“Take, for example, the B-BBEE scorecard element of Enterprise and Supplier Development,” says Lanham-Love. “Many of our clients are shocked – and delighted – to discover that they are not maximising the benefit that they stand to gain from ensuring that the suppliers and enterprises they do business with are B-BBEE compliant themselves. This is an area in which it is possible to miss out on points that enhance your B-BBEE scorecard, simply because you are not making small tweaks and adjustments to the way in which you already do business.”
“This is where Lanham-Love Consulting truly shines when it comes to assisting businesses in enhancing their B-BBEE scorecard,” says Lanham-Love. “By working hand-in-hand with our clients in managing and implementing their B-BBEE strategy throughout the year, we function as a perpetual guide on their B-BBEE journey.”
“It’s all about making sure that your transformation strategy is aligned with your business strategy,” says Lanham-Love. “By having a roadmap that lays out your route to transformation in your business, a framework by which you can measure your B-BBEE progress, you can be guaranteed that you are implementing B-BBEE in a way that is legal, useful, and actually achieves what it sets out to do. And having a guide to help you along the way ensures that you do not waste time by straying from the best possible B-BBEE path for you and your business.”
Lanham-Love Consulting considers our differentiating factor to be that we innovatively embrace and integrate transformation to the point of business growth and development for our clients. We seek to create solutions that result in additional benefits and increased compliance across multiple elements of the scorecard. Speak to our expert consultants to see how we can help you adopt a measured approach to your B-BBEE implementation.