Examine the factors that led to Bain & Co's loss of the trust of stakeholders, and how this negatively impacted the organisation.

Introduction and definition of trust

Factors that led to Bain and Co losing trust in stakeholders

Conclusion

Bain \& Co banned from government tenders for a decade. 29 September 2022 - 13:56 Dineo Faku Times Live Global consultancy firm Bain \& Co has been prohibited from doing business with the state for 10 years, the National Treasury said on Thursday. "The effective date of restriction is September 5, 2022, until September 4, 2032, for engaging in corrupt and fraudulent practices related to a SA Revenue Service (Sars) contract," said the Treasury. The ban comes after the Zondo commission of inquiry into state capture and the Nugent commission found Bain \& Co had played a part in dismantling Sars. The Treasury said the restriction had been published on its website and database for restricted suppliers. The UK has also banned Bain \& Co from government contracts for three years because of its actions in SA. In August, Bain SA's managing partner Stephen York issued a public apology, saying: "Bain made serious mistakes in the procurement and execution of our work at Sars, and we kept working even as it became clear that the Sars leadership had a different agenda. Our work was used by others to further their agenda of state capture at Sars ... We regret playing any role in the damage to this critical institution." York said they had also repaid all fees received from Sars