ESD, like any crucial business initiative, needs senior support, goals, performance measurement and evaluation
By Stuart Townshend
It has been roughly ten years since Enterprise and Supplier Development (E&SD) and Preferential Procurement (PP) were introduced into the business landscape. It has been a time of growth, with many milestones along the way as well as many great lessons, thus it is important to reflect on and stay in touch with the current key challenges faced by corporate E&SD and PP practitioners.
Progress: up to 80% of respondents feel positive about their organisation's framework conditions, such as senior stakeholder involvement in ESD and ESD alignment to core business strategy
Implementation of ESD strategies has been largely driven by compliance with ever-intensifying black economic empowerment (BEE) requirements. However, when done right, ESD has shown business advantages such as improved service delivery and supplier diversity, reduced supplier failure as well as cost savings via innovative approaches.
Unfortunately, the real value and possible impact of ESD initiatives often remains limited while practitioners are still trying to solve challenges around access to market for small- and medium-enterprises (SMEs), finding the right quality SMEs and resolving the lack of funding available to SMEs.
Read the full article here: 4 critical approaches to ESD