Answer to Question #231210 in Management for Sukoluhle

Question

Answer the following questions about your business unit:

1. Assess key procurement concepts to determine their impact on corporate governance and social responsibility. Key procurement concepts include but are not limited to BEE, Green Procurement, Ethics, Safety and Health

2. Evaluate the legislative environment influencing corporate governance and social responsibility

Answer 1

1.The primary focus of public procurement is how contracting agencies take into account the financial, social, environmental and equity effects of purchasing activities, maximize positive outcomes and minimize negative outcomes within the framework of overall value for money and affordability considerations. Concerns related to corporate social responsibility can only be addressed if they are directly linked to the subject of the contract in question. It is possible and most often desirable, provided that this provides an economic value for money, complies with legislative requirements and is directly related to the subject area of the contract, to take account of economic, social and environmental issues in public procurements. Taking these issues first into account and integrating them in the start of the procurement process will have the greatest impact.

2.A good legislative and social environment helps companies to balance things. It also encourages efforts by the company to develop mechanisms of control, increase shareholder value, and enhance shareholder satisfaction.