Despite there been several other key measurement areas for compliance, much focus and pressure is put on ownership. In this article, we will focus on improving your Enterprise and Supplier Development – ESD scorecard. One way in which you can improve your ESD is by implementing EOS, the Entrepreneurial Operating System in a smaller company that does business with you. By sponsoring the EOS journey for the company, you will be able to benefit from a more productive supplier and the ESD points. We explain what EOS is and how you can use EOS to benefit your ESD scorecard below.
What the heck is EOS?
While the above may be a crass heading, it is in fact the title of a book written by EOS founder, Gino Wickman. Wickman, through years of entrepreneurship devised an operating system based on a set of tools and a proven process known as EOS. EOS is an operating system that helps business owners get exactly what they want from their business, traction, success and sustainable growth.
Internationally, the business operating system is widely popular; with millions of success stories. In South Africa, EOS has gained traction too. Plenty companies have taken or are on their EOS journeys; it’s not hard to find these testimonials. EOS helps companies achieve three things:
- Vision – getting everyone in your company 100% on the same page with where you’re going, and how you plan to get there
- Traction – instilling focus, discipline, and accountability throughout the company so that everyone executes on the vision, everyday
- Healthy – helping your management team become a more cohesive functional, healthy leadership team. As goes the leadership team, so will go the rest of the organisation.
You’re probably wondering how this will improve your B-BBEE status right, well that’s what we’ve promised you!
How ESD can benefit your ESD Scorecard?
Although ESD is a measured element in terms of B-BBEE compliance, it is in fact a global concept, that has proven its ability to stimulate economies, diversify supplier chains and mostly importantly create jobs!
As a large measured entity, you are likely to have several suppliers. By choosing to sponsor the EOS journey for one of your suppliers you will be able to claim the ESD points on your B-BBEE scorecard. Often, large entities make use of “Incubation” in this regard EOS is well suited as there is a period in which in, the enterprise is given many tools to help them grow sustainably and be able to run on EOS seamlessly after they have graduated. The benefits in this regard are multiple, you benefit in terms of compliance, from an upskilled and empowered supplier and they benefit from the EOS journey in terms of growth and creating more jobs – all of which have ripple effects on our South African economy and socio-economic landscape.
The ability to use EOS to benefit your ESD scorecard is available exclusively through ET Consult. Book a free consultation with us to see if EOS is a fit for either your business or to use as a way to improve your B-BBEE compliance through your ESD scorecard.