Оглавление
Jonathan Goldberg. Broad-Based BEE
THE GOVERNMENT’S AGENDA
THE BROAD-BASED BEE CARROT
BEE IN A NUTSHELL
Exempted Micro-Enterprise (EME)
Start-up Enterprises
Qualifying Small Enterprise (QSE)
Generic Scorecard
BROAD-BASED BEE ELEMENTS AND SCORECARD POINTS
Ownership Element (Code 100)
Management Control Element (Code 200)
Skills Development Element (Code 300)
Enterprise and Supplier Development Element (Code 400)
Socio-Economic Development Element (Code 500)
Generic Scorecard Points
SMOKE-AND-MIRROR EMPOWERMENT
CASCADE EFFECT
TAKING BROAD-BASED BEE SERIOUSLY
IMPLEMENTATION CONCERNS
CHALLENGING EXISTING PARADIGMS
FROM HUMBLE BEGINNINGS TO CHAMPIONS
SHARED COMMITMENT
CONSTRAINTS – THE GOVERNMENT’S CHALLENGE
REAL BROAD-BASED BEE INGREDIENTS
CHANGING BELIEFS – IS BEE THE NEW CHEESE?
ENGAGING IN DIFFICULT CONVERSATIONS
UBUNTU – THE AFROCENTRIC WORLDVIEW
A NEW LANGUAGE, MENTAL MODEL AND VALUE SYSTEM
EMOTIONAL INTELLIGENCE IN LEADERSHIP
VALUES IN ACTION
TRUST – THE “SUPERGLUE”
FATAL FLAW – “IN MY NATURE”
GOOD TO GREAT LESSONS IN TRANSFORMATION
WHAT OWNERS SHOULD BE ASKING
BROAD-BASED BEE A STRATEGIC IMPERATIVE
STRATEGIC ISSUES REGARDING BROAD-BASED BEE IMPLEMENTATION
OWNERSHIP SUCCESSION STRATEGIES
SCENARIO PLANNING
WHAT IS STRATEGIC PLANNING?
DEVELOPING YOUR STRATEGY
External environment
Strategic diagnostic: SWOT
Vision
Goals and objectives
Strategies
Actions
TURNING CHANGE INTO VALUE
Ownership – value creation
IMPLEMENTATION PROCESS FOR AN OWNERSHIP TRANSACTION
PRACTICAL ISSUES
LEGISLATIVE CONTEXT
TRANSFORMATION THRUST
BLACK ECONOMIC EMPOWERMENT COMMISSION TARGETS
OBJECTIVES OF THE BROAD-BASED BLACK ECONOMIC EMPOWERMENT ACT 53 OF 2003 AND AMENDMENT ACT 46 OF 2013
UNPACKING THE ACTS
THE BROAD-BASED BEE GENERIC SCORECARD
GOVERNMENT’S DEFINITION OF BROAD-BASED BEE
INDEX TO THE AMENDED CODES OF GOOD PRACTICE
SCORECARD
THE FIVE BROAD-BASED BEE ELEMENTS
Ownership
Management Control
Skills Development
Enterprise and Supplier Development
Socio-Economic Development
PRIORITY ELEMENTS, SUB-MINIMUM AND DISCOUNTING PRINCIPLE
Compliance with priority elements
Discounting principle effect
GENERAL PRINCIPLES AND THE GENERIC SCORECARD
Broad-based BEE Contribution Status and Recognition levels
Application of Statement 000
Transitional period
Adjustment of EME, QSE and Start-Up thresholds
Duration of the Amended B-BBEE Codes
Non-circumvention
The generic Scorecard
DEVELOPMENT AND GAZETTING OF TRANSFORMATION CHARTERS (STATEMENT 003 OF THE 2007 CODES)
Background
Framework
Status of Transformation Charters
Status of Sector Codes
Status of entity’s broad-based BEE plans
Scorecards for Specialised Entities
APPROVAL, ACCREDITATION AND REGULATION OF VERIFICATION AGENCIES. Background
Framework
Verification Agency standards
Verification Certificates and related information
Verification Agency challenges
GENERIC MANAGEMENT CONTROL SCORECARD
Background
SKILLS DEVELOPMENT SCORECARD
Background
ENTERPRISE AND SUPPLIER DEVELOPMENT SCORECARD
Background
Socio-Economic Development Benefit Factor Matrix
Boomkweker (Pty) Ltd case study: calculating the total points scored in year 1 using the whole Generic Scorecard
Ownership Element (Code 100)
FAMILY BUSINESS CHARACTERISTICS
FOUR DEFINING CATEGORIES OF BUSINESS
IMPORTANT QUALITIES OF FAMILY BUSINESSES
PASSING THE BUSINESS ON
DEVELOPMENT CYCLES
GROWING SUCCESSFULLY
OWNERSHIP AND FAMILY INFLUENCE
BEE TOUCHES A RAW NERVE
SUCCESSION PLANNING
TRIGGERING THE BEE PROCESS
BECOMING A FAMILY-CONTROLLED, BROAD-BASED BEE COMPANY
SCORING OWNERSHIP AND GOVERNANCE POINTS
PRACTICAL CHALLENGES IN IMPLEMENTING A “BALANCED” SCORECARD
CHANGE BEGETS CHANGE
EFFECTIVE GOVERNANCE
Defining corporate governance
Consequences of a separate corporate persona
King III balancing governance principles and entrepreneurial performance
The board of directors and the management committee
REWARDING OF OWNERS
Remuneration
Steps in developing a rational remuneration plan
Dividends
Acquiring a business
Factors to consider in an acquisition
Broad-based BEE transaction structures
Managing the deal
Mitigating risk
Common transaction problems
Common integration problems
CONTRADICTIONS AND PARADOXES
COMPANY FOR SALE
EMPOWERING THE BUSINESS
VALUATIONS
Analysing the target company
Valuation approaches
What is value?
Valuation drivers
FINANCING ISSUES
Basic principles to follow when considering financial solutions for broad-based BEE ownership transactions
Financing scenarios
Internal solutions
External solutions
Vendor finance
Management buy-in or buy-out
Other financing considerations
Capital structure decisions
Cost of finance
ACCOUNTING ISSUES
Background
Impact on earnings
The framework
Issuing equity at a discount
Types of equity instrument
BEE equity instrument related credentials: Guide 2 - Accounting for BEE transactions
Summary for the layman
TAXATION ISSUES
Broad-Based Employee Share Plan
Requirements
Tax relief
Subsequent sale of qualifying shares
Disposal or Acquisition of Equity Shares
