Effective transformation success

Written by Topco Staff Writer

22/07/2020

Effective transformation success

BEE compliance is only the starting point of an effective transformation strategy – Murray Chabant, CEO, Signa Group

The Top Empowerment two-day virtual conference is underway, bringing together thought-leaders, top companies, entrepreneurs, and government officials to engage in finding critical solutions to establishing an all-inclusive economy through transformation.

On the first day of the conference Murray Chabant, Chief Executive of Signa Group engaged the panel with the different kinds of approaches he had seen in his 15 years since Signa has been operating in the transformation space. He emphasised different ways to approach and support business transformation success.

Key takeaways from his engagement include:

  • Many companies are in survival mode
  • COVID-19 has decimated roughly 1.1 million jobs in the last 100 days
  • The BEE scorecard is a complex instrument
  • For businesses that have a turnover of less than R50 million per annum, the most effective way to maximise BEE credentials is to be 51% black-owned
  • SMEs are investing themselves in transformation that can address job creation
  • Measure what matters, not only what happens
  • A single transformation strategy can add up to 27 points on a BBBEE scorecard every year

More about Murray Chabant

Chief Executive of Award-winning Transformation & BEE solutions group, Signa Group, Murray is a business-minded social reconstructionist, Black Economic Empowerment specialist, transformation and skills development strategist, employee share ownership engineer, business turn-around and training expert.

These are some of the key takeaways from Murray’s speech at the Top Empowerment virtual conference on Wednesday.

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