Let’s look at the WHY. A series of blogs tackling the big ‘why’ when it comes to B-BBEE and its core principles. PART 2
This seems like a pretty simple question, however this is a question that often gets asked. We like to explain it with one specific point: We need to dispel the myth that people are responsible for their own poverty.
Living in poverty, especially persistent poverty, increases an individual’s likelihood of suffering from anxiety, depression and attention problems. Evidence suggests that these challenges in turn lead to short-sighted and risk-averse decision-making and favour habitual behaviours at the expense of goal-directed ones. This creates a feedback loop that contributes to the perpetuation of poverty and the lack of upward mobility. So how do we tackle this? One of the contributing factors is BEE. The BEE policy is imperfect but does form a framework for measuring a contribution to ending this cycle and does allow companies some flexibility in their response to these issues.
Our poverty lies beneath years of inequality and BEE is simply a way to correct this. Wouldn’t you agree? Let us know your thoughts in the comments below.