Act early to lower costs and protect the balance sheet so that you are stronger and leaner when the economy begins to turn more favourably.”
Companies that outperformed peers during the 2008 crisis cut operating costs by 1 percent before the downturn.

The goal of strategy is to maximize long-term value by:

1. A better understanding of your business environment to identify strategic opportunities for new and existing clients, products and services.
2. The ability to establish, maintain and nurture existing and new business relationships, through effective communication skills for long-term value creation.
3. A business development plan and the ability to critically assess and pursue new business opportunities.

Twelve emerging technologies—including the mobile Internet, autonomous vehicles, and advanced genomics—have the potential to truly reshape the world in which we live and work.

Leaders in both government and business must not only know what’s on the horizon but also start preparing for its impact.
Almost every advance is billed as a breakthrough, and the list of “next big things” grows ever longer. Not every emerging technology will alter the business or social landscape—but some truly do have the potential to disrupt the status quo, alter the way people live and work, and rearrange value pools.

It is therefore critical that business and policy leaders understand which technologies will matter to them and prepare accordingly.

The pandemic disrupted customer loyalty strategies.
When it comes to interactions between customers and brands, it could be said that COVID-19 changed nearly everything. Traditional strategies and tactics that brands have used to engage with consumers, deliver an exceptional experience, and earn loyalty and repeat purchases have been upended by a pandemic of historic proportions. The disruptions have touched almost every aspect of our daily lives as consumers. The disruption of the past 18 months has created new consumer behaviours (and, in some cases, new consumer profiles), many of which we expect to continue even after we fully emerge from the pandemic. Brands must recognize that many of the “orthodoxies” that existed prior to the pandemic have been changed forever, requiring re-examination of the traditional approaches to building customer loyalty.

The South African Revenue Service (SARS) has introduced an enhanced Tax Compliance Status System.
Being tax compliant and ‘paying your fair share’ is not just good for you, but also contributes to the positive growth of our country’s economy which in turn benefits all South Africans.
South African Revenue Service (SARS) Commissioner Edward Kieswetter has warned non-compliant taxpayers and traders that the revenue authority will not tolerate any transgressions of tax and customs laws. The revenue service is ready to act firmly and professionally with those that engages in these practices.
SARS’ primary objective is to provide clarity and certainty for taxpayers and traders wishing to comply with their legal obligation by making its easy and seamless to do so. The organization is also enhancing its capability to detect and make it costly for those who are determined to be non-compliant.
In this regard, Commissioner Kieswetter said that compliance with these laws was essential so that SARS could discharge its responsibility to collect enough revenue to ensure that South Africa is able to invest in the growth and development of the country and improve the well-being of all.
“Tax crime is not a victimless crime. It directly affects the poorest of the poor who are dependent on basic services including the social security safety net for old age pensioners, child grants and for tertiary education support targeting needy students as well as providing health services, among others.
“SARS is therefore determined to enforce the tax and customs laws of the country without fear or favour in a responsible manner when all other legal avenues have been exhausted”.

Employee health and safety programs should be a major priority for management because they save lives, increase productivity, and reduce costs. These health and safety programs should stress employee involvement, continued monitoring, and an overall wellness component (Anthony et al., 2007). Work safety requires that safe working conditions should not create significant risk of people being rendered unfit to perform their work. Health and safety at work is therefore aimed at creating conditions, capabilities, and habits that enable the worker and his/her organization to carry out their work efficiently and in a way that avoids events which could cause them harm (Garcia-Herrero et al., 2012). It is clear that safe working conditions have an effect on the habits of workers, which in turn impacts on efficiency. This implies that employees working in a safe condition are likely to perform in a way that will not cause them harm.

There is a growing spotlight on sustainability and environmental, social and governance (ESG) issues. The Global Risk Report 2022 from the World Economic Forum listed the consequences of climate inaction, nature loss, and erosion of societal cohesion as the most severe risks on a global scale over the next 10 years.
To tackle these risks, the report calls for a “whole-of-society” response, engaging different sectors to lead individual actions towards an end goal that benefits long-term well-being and prosperity.
Now, more than ever, is it critical to embed ESG, and specifically nature, into business practices and act on findings like those in the WEF’s Global Risk Report.

Taking steps to meet your legal obligations might seem like a management no-brainer, but only fulfilling your minimum requirements might result in missed opportunities. Understanding the reasons for the various rules, laws and regulations that govern your business will help you take advantage of any benefits they offer while ensuring you stay in compliance at all times.
In its business sense, “compliance” refers to a company meeting its legal obligations.
Simple examples of compliance includes obtaining a business license, correct registration with the requisite authorities and paying your taxes. The importance of compliance is more evident as issues become more complex when your business grows. The way you make and sell your product and service might fall under the auspices of a government agency, such as a restaurant needing to meet health department guidelines.
The most obvious consequence of compliance is that it decreases your risk of fines, penalties, work stoppages, lawsuits or a shutdown of your business.

Many business compliance issues deal with protecting employees. The more employees feel they work in a fair, professional and safe environment, the more likely they will be committed to stay with you. Even if you don’t harass or discriminate against any employees, if you don’t take steps to ensure none of your employees do, you can lose valuable workers. Include policies and procedures in your employee handbook that mirror your legal compliance obligations. Remember, a policy is only strong if it is enforced. Your policy should not only present the rules but also specify the procedure for dealing with infractions, such as a reprimand and additional training on a first infraction and suspension or termination for a second.
You will have expanded responsibilities regarding your workers, covering hiring, firing, discrimination, harassment, safety, wages, payroll and benefits.

The main purpose of the rescue proceedings is to rehabilitate a company that is in financial distress. Such a company is unable to pay debts due or is likely to become unable to pay debts within six months from the date of the investigation. Its liabilities exceed its assets or are likely to do so within the next six months.

Only in the instance where a company can be rehabilitated is corporate business rescue recommended. The process entails a thorough analysis of the company’s financial state, its affairs, debts, assets, and operations. The company is brought under temporary supervision of a qualified and experienced business rescue practitioner who oversees the process of bringing the company back to a state in which it can trade and fulfil its obligations.

ABOUT BENEFICIAL OWNERSHIP (Extract from CIPC)

The Companies and Intellectual Property Commission (CIPC) launched its beneficial ownership (BO) register for companies and close corporations on 1 April 2023.
The aim of establishing the BO register is to have a repository/register of natural persons who own or exercise control over legal entities; to assist law enforcement with relevant information when it comes to their investigations of who the ultimate owners of an entity are; and to mitigate the risks identified in the national risk assessment where legal persons were identified as vehicles prone to abuse for money laundering and terror financing activities. The register to be kept is for the applicable companies and close corporations to submit any beneficial ownership information relating to that entity. Anyone with more than 5% beneficial ownership of a company or close corporation must submit (file) with the CIPC, the requisite information.