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Is profit made when you buy or when you sell?

Looking at the debate that is starting around BBBEE and the 2010 soccer, I think this is a topic all ( or at the least any internationally focussed) companies should be actively debating.

Procurement support the strategic goals of the company! What happen when the strategic goal of the company and the shareholders differ from political strategic goals?

As a UK based construction professional (PQS), I can confirm with appropriate levels of confidence that the seven pillars of BBBEE will indeed from the bedrock of any collective progress with this particular form of procurement. What remains of extreme importnace is to ensure that 'commercial opportunity' is bestowed upon those who are indeed both competent and capable to undertake such offerings. Any failure in this facet of the equation will render the entire (BBBEE) pursuit short lived with no 'tangible' legacy. With regards shareholder / company conflict, perhaps more should be said of the need to implement the Triple Bottom Line!

Seeing initiatives such as B-BBEE in terms of the triple bottom-line is most definitely the key to understanding their importance to the business community. B-BBEE may be a politicised issue, but it is most definitely also an issue of competitiveness and therefore impacts directly on profitability.

Unfortunately one still finds that many people do not fully grasp the financial importance of everything included under the triple bottom line, simply regarding it as extraneous to business activities. This uninformed position is akin to that taken by Milton Friedman when he defines all chartable actions undertaken at cost to the company, as an unjustifiable expense with no returns.

Thankfully the decades since then have seen the introduction of triple bottom-line reporting and the development of Corporate Social Investment. Unfortunately many South Africans simply equate CSI to charity, negating the Investment portion. B-BBEE will hopefully impact positively on this situation through its focus on community and SMME development.

Hi there,it's been a long time but i'm back.

On above Title,my believe is that both BBBEE/World Class Procurement will work in hand to create better economy for both private and public sector which at the end of the day create opportunities.My only worries is frontings that some of this organisations do,to better their score ratings on approved Codes.What's your thoughts in tackling fronting?

Regards
Mesuli

Fronting will remain with SA for a while, as Black entrepreneurs are not always afforded opportunities because people say they lack the experience and skills. The Procurement Profession must make sure that we afford Black Entrepreneurs and Businesses opportunities, likewise assist them where they lack competence and skills. This will allow them exposure and truely empower such individuals and businesses and getting them into the mainstream of out economy. This is what I call true B-BBEE.
Viva B-BBEE

Hi Everyone

I am tasked with the responsibility of developing a comprehensive BBBEE plan within procurement, I would really appreciate any assistance or perhaps past experience on how I should tackle this. I work for a large manufacturing company that has just undergone a major restructuring and so everything is up and about.

Thanks

Hi Procurement Member

May I direct you to the DTI and National Treasury websites as they have the entire BBBEEE scorecards and regulations on their sites. It would also enhance you understanding fo how these should be applied within your respective organisation.

Regards

Lance

Lance ,i agree with you when saying that the codes of good practices are published on the internet.I think what Ndlovu is asking in this regard is a high level technical strategy on implementation of codes of good practice.''I am i right Ndlovu?''

Fellow practitioners ,the only way to deal with fronting is for Government to make an example of fronting companies by shuting them down completly regardless how big or small.