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

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.

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