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    The Virtues Of Corporate Governance And Ethical Behaviour
    The Virtues Of Corporate Governance And Ethical Behaviour
    The Virtues Of Corporate Governance And Ethical Behaviour
    Ebook102 pages1 hour

    The Virtues Of Corporate Governance And Ethical Behaviour

    By Bhekezakhe Winston Khuzwayo

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    About this ebook

    The book posits that the leadership qualities of the leaders who registered the claim to restore land into entities like Community Trusts, Community Associations and sometimes Cooperatives may not be ideal when it comes to running the trading operations. While it is important to remain in leadership, it is recommended that a trading company wholly owned by the trust and managed by people with requisite skills and knowledge should be formed. The book views corporate governance adherence not only important for the trading company but also that the trust should proceed beyond the requirement of the Trust Deed in self-regulation to ensure that the entities are managed in the best way possible. The author does not dismiss joint ventures as this will facilitate even unrelated diversification as partners may bring skills and capital for other ventures that use the land that was restored.

    Ubuntu or African humanism is not wished away as some writers including western researchers have high regard for it as a leadership style and philosophy. The book also encourages Black Africans to innovate in order to be part of the value chain and it urges big extractive commodity producers, namely the sugar industry, timber industry to prioritise and accelerate inclusive and meaningful partnerships with the new land owners.

    LanguageEnglish
    PublisherBhekezakhe Winston Khuzwayo
    Release dateJun 28, 2018
    ISBN9780463178270
    The Virtues Of Corporate Governance And Ethical Behaviour

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      Book preview

      The Virtues Of Corporate Governance And Ethical Behaviour - Bhekezakhe Winston Khuzwayo

      THE VIRTUES OF CORPORATE

      GOVERNANCE

      AND ETHICAL BEHAVIOUR

      THE VIRTUES OF CORPORATE

      GOVERNANCE

      AND ETHICAL BEHAVIOUR

      Can these values help in guiding land-reform entities, co-operatives and emergent businesses?

      By

      Bhekezakhe Winston Khuzwayo

      Copyright © 2018 Bhekezakhe Winston Khuzwayo

      Published by Bhekezakhe Winston Khuzwayo Publishing at Smashwords

      First edition 2018

      All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or any information storage or retrieval system without permission from the copyright holder.

      The Author has made every effort to trace and acknowledge sources/resources/individuals. In the event that any images/information have been incorrectly attributed or credited, the Author will be pleased to rectify these omissions at the earliest opportunity.

      Published by the Author using Reach Publishers’ services,

      P O Box 1384, Wandsbeck, South Africa, 3631

      Edited by Susan van Tonder for Reach Publishers

      Cover designed by Reach Publishers

      Website: www.reachpublishers.co.za

      E-mail: reach@webstorm.co.za

      Abbreviations

      and Acronyms

      1. BEE - Black Economic Empowerment

      2. CCMA - Commission for Conciliation, Mediation and Arbitration

      3. CO-OPS - Co-operatives established in terms of the Co-operative Act (No.14 of 2005)

      4. CPP - Community Private Partnership

      5. CPA - Communal Property Association

      6. CPT - Communal Property Trust

      7. DRDLR - Department of Rural Development and Land Reforms

      8. JSE - Johannesburg Stock Exchange

      9. MOI - Memorandum of Incorporation

      10. SMMEs - Small Medium and Micro–sized Enterprises, established in terms of the Micro, Small and Medium Enterprise Development Act (21 of 2006)

      11. SMEs - Small and Medium-sized Enterprises established in terms of the National Small Business Act (No.102 of 1996) with National Business Amendment Act (26 of 2003)

      12. RV - Recoverable Value

      13. SOE - State-owned Enterprises

      Can these values help in guiding land-reform entities, co-operatives and emergent businesses?

      by

      I am indebted to David Kaplan for his painstaking perusal of the manuscript, editing and making insightful comments wherever and whenever necessary. To him goes my sincere gratitude and appreciation.

      My gratitude and appreciation goes to the editors of Reach Publishers for their invaluable assistance.

      The book is dedicated to my grandchildren:

      Thabisa, Khethelo and Uthi-Thina Khuzwayo

      The Purpose of This Book

      This book aims at encouraging corporate governance and ethics compliance by entities which received land and other trading or tradable assets through the government land restitution programme including small enterprises and co-operatives. The beneficiaries of land entities and the owners and shareholders in the case of co-operatives and small enterprises, have a duty to carry on with the productive side of these entities, exercise good land husbandry and operate in a transparent manner with due regards for business imperatives. Such must be undertaken in a manner that can be monitored and evaluated for the beneficiaries who elect trustees and directors of the vehicle through which land is restituted, namely the Communal Property Trusts and Communal Property Associations. It urges trustees and directors of Communal Property Trusts, Communal Property Associations and small enterprises to introduce their organisation as complementary and enabling culture to enhance monitoring and evaluation. These interventions will promote conditions suitable for organisational sustainability, pro-active risk identification and risk mitigation any perceived or experienced reputational damages.

      The book also looks at the leadership and management talent available, the roles of the Department of Rural Development and Land Reform, as well as the role of the Master of the High Court, and pleads that they should continue to monitor these entities’ performance as they were bought using state resources.Land reform failures should be avoided at all costs as it is in the centre stage of land restorative justice.

      In examining leadership styles the book finds the autocratic style used by farmers, inherent in the military achieved results while it lasted but is no longer appropriate in managing in today’s farming environment. It recommends a human Western management philosophy that is infused with doses of Ubuntu or African humanism as a style that restores human dignity that was taken at the same time with the land by the previous farmers. This should be done in a way that does not compromise productivity goal attainment and commercial rationale but demonstrate the founding of new relationships in farms.

      It is important that land-reform initiatives, whilst addressing restorative justice, have a commercial rationale and that this approach should drive the strategy for going forward with regard to diversification and stakeholder training and empowerment.

      The Government gazettal of the sugar tax and the landing and distribution of imported sugar in our shores heightens the sugar profitability problems, especially for the emergent growers who are now operating in an environment that is more competitive than their predecessors and the same yardstick will be used to judge their competencies in terms of their returns.

      What this book aims to highlight is not only to have good corporate governance and ethical behaviour prescripts in the workplace but for executives and trustees to know how to manage issues of poor governance when it arises and how to instil this culture in their respective organisations. It further encourages entrant farmers to continue researching methodologies that will further enhance productivity.

      The book would have achieved its objectives if farmers start to collaborate in not working in silos but explore areas where they can achieve economies of scale, like haulages of produce, buying of fertilisers and speaking with one voice on common issues.

      Introduction

      Over the past 22 years, the government, through the Department of Rural Development and Land Reform (DRDLR), with its Commission for Land Restitution, has successfully processed a number of land claims. This land-restitution process is aimed at restoring land rights to people who lodge claims because either their land or their families’ ancestral land was forcibly taken away from them without adequate compensation and, on the claimants’ submitting acceptable evidence, allowing them to reclaim their land. In most cases the land has been developed by the current owners into commercial farms where timber, sugar cane and nature conservation or hunting farms have been established and have contributed to South Africa’s agricultural, eco-tourism and commercial land productivity. In an effort

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