This report has been compiled to explore and investigate whether companies (retail and service) comply with the King 2 Report and the Triple Bottom Line Reporting, how the business has adopted these concepts into their daily business activities and how they compare to one another. The report includes the issues affecting South Africa and how they are linked to the King 2 Report. This report has mostly been compiled on the five levels of the Pick n Pay Corporation and ABSA Bank, namely their Corporate Social Responsibility, their stakeholders, their company performance, their BBBEE compliance and ethics. The first level deals with their responsibility to give back to society, to help in providing the basic needs and the whole concept of transforming society to one of a higher income group. The stakeholder level deals with how they manage their stakeholders in terms of policies that have been put into place and the attractiveness of the shares that may or may not draw investors. Their performance level will be used to determine each company’s ROI whilst the last levels deals with their compliance with BBBEE policies and how well they contribute to this, whilst acting ethically towards all stakeholders. This is all evident in the projects they are involved with, the initiatives and policies they follow and the way they conduct themselves in a sustainable way. This report deals comparing two companies, ABSA Bank and Pick n Pay, to conclude which company complies best with the requirements set according to the King 2 Report.
SOCIAL CSR RELATED AND ENVIRONMENTAL ISSUES IN SOUTH AFRICA:
Social CSR related issues:
Social CSR related issues in South Africa are the key factors influencing the South African economy, as they not only impinge on local and/or national communities, but on the entire South African nation. Currently there are numerous issues that coexist within the South African society, however the most prominent issues include:
1. Crime: Following the years after South Africa first celebrated the democratic elections held in 1994, crime in South Africa has become one of the leading challenges that government faces today. Felonies, taking on forms such as murder, rape and robberies, within South Africa are the key causes to the ‘brain drain’ or the out flow of skilled workers from South Africa; furthermore, it has drastic affects on the business sectors as well as on the economy as entrepreneurs are being driven away to foreign countries whilst large foreign corporations close down.
Despite government’s attempts, national statistics have shown that reported crime levels have increased by 1.3% with an average of 50 murders and 90 rapes take place in South Africa each day. To successfully combat crime government and businesses need to co-operate and encourage emphasis on non-financial aspects as proposed by the King 2 report to identify and provide solutions for both external...