Author Topic: Codes of Good Practice  (Read 1051 times)

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Codes of Good Practice
« on: July 23, 2015, 04:52:29 PM »
Introduction

The codes of good practice has been developed as an interpretation aide for individuals and entities seeking to gain further clarity and understanding of the Codes of Good Practice (‘the Codes’).

The Purpose of the Codes of Good Practice

Before the release of the Strategy on Broad-Based BEE1, there was no framework in existence for the measurement of broad-based BEE. The Strategy provided the outline of a broad-based scorecard, together with weightings, but did not contain detail on measurement principles and the application of the scorecard. 

By the beginning of 2004 when the BEE Act was promulgated, numerous sectors of the economy had drafted industry charters on BEE and transformation. Whilst some contained scorecards loosely based on the broad-based scorecard contained in the Strategy, others were merely written undertakings of commitment to transformation. In addition, several of these charters were drafted prior to the release of the Strategy and stakeholders therefore had little point of reference in terms of broad-based elements and weightings. Furthermore, it became evident that other pertinent issues surrounding the measurement of BEE needed to be addressed to further accelerate the transformation process.

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