Any point of growth is painful. This is because, in order to truly grow and develop, we need to change – and change is hard. And for true change to happen, you need to first figure out where you are now, and then decide where you want to grow to.
“If you want to change your approach to Broad-Based Black Economic Empowerment wholesale, want to adjust your focus on your existing B-BBEE programmes, or simply want to tweak what you already have in place to make it work more efficiently, getting to know your B-BBEE strengths and weaknesses is a great place to start,” says Angie Lanham-Love, CEO of Lanham-Love Consulting. “It’s certainly one of the more strategic ways you can apply B-BBEE to your business and ensure that you are getting maximum return on your investment.”
So, how do you go about interrogating your B-BBEE strengths and weaknesses?
“Myself and my colleagues at Lanham-Love Consulting would suggest that you begin this process by investigating where your business is already doing well in terms of B-BBEE, and seeing if any of your existing programmes can be expanded,” says Lanham-Love. “Let’s say, for example, you are already committed to upskilling and empowering your employees through continuing education programmes. Are there perhaps programmes your employees are interested in that could move them into higher-level leadership roles? By focusing on building your talent pipeline, you can start using your existing skills development commitments to build and grow your management team, which in turn will affect the Management Control aspect of your B-BBEE scorecard.”
“On the other hand, it is also worthwhile to investigate where you may be falling down in terms of B-BBEE implementation,” says Lanham-Love. “It may be an easier fix than you initially anticipate. As an example, some businesses do not even bother to submit their B-BBEE documentation, as they do not think that they will qualify for a high enough level of B-BBEE. However, if you and your business are seeking to attract investment, or engage in doing business with other companies, a B-BBEE Certificate or Affidavit – regardless of your actual B-BBEE level – can be immensely valuable to get your started.”
If you are at a loss on how to even begin to establish where you are with your B-BBEE implementation, or what your strengths and weaknesses even are, it could be worth your while to speak to an expert in B-BBEE. “Lanham-Love Consulting will enlighten you and your team with full knowledge of the B-BBEE codes and the B-BBEE scorecard for your sector, through aligning your transformation strategy to your business strategy,” says Lanham-Love. “Furthermore, we are perfectly positioned to ensure comprehensive B-BBEE compliance, which will give you peace of mind. B-BBEE does not have to be difficult – but we certainly recommend that it be strategic!”
Lanham-Love Consulting will engage with you and explore your specific transformation needs to find your “best-fit” B-BBEE solution. Speak to our first-class consultants today to find out more about how you can turn your B-BBEE weaknesses into your B-BBEE strengths.