African Journal of
Business Management

  • Abbreviation: Afr. J. Bus. Manage.
  • Language: English
  • ISSN: 1993-8233
  • DOI: 10.5897/AJBM
  • Start Year: 2007
  • Published Articles: 4131

Full Length Research Paper

Corporate responsibility for socio-economic transformation: A focus on broad-based black economic empowerment and its implementation in South Africa

Swastika Juggernath1, Renitha Rampersad1* and K. Reddy2
1Department of Marketing, Retail and Public Relations, Faculty of Management Sciences, Durban University of Technology, South Africa. 2Department of Applied Law, Faculty of Management Sciences, Durban University of Technology, South Africa.
Email: [email protected]

  •  Accepted: 17 May 2011
  •  Published: 30 September 2013

Abstract

This article illustrates corporate responsibility for socio-economic transformation with a focus on broad-based black economic empowerment (BBBEE) and its implementation in South Africa. This article clarifies the need for the corporate sector to ensure consistency in the implementation of socially responsible behavior, particularly in the area of black economic empowerment. The article highlights that there is both a moral and legal obligation for the company to ensure that there is an efficient implementation of BBBEE. The present study was conducted within a qualitative and quantitative paradigm to investigate the implementation of BBBEE. The findings of the study reveal that business has been proactive insofar as engaging in BBBEE practices are concerned. 

 

Key words: Corporate social responsibility, broad-based black economic empowerment, socio-economic, transformation, employees, discrimination.