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How to find, nurture and grow diverse suppliers to benefit your company
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Why General Counsels Are Pushing Supplier Diversity
By Jennifer Millman
As the roles and responsibilities of general counsels (GCs) expand, CEOs are requiring a new skill of their GCs: business aptitude. And as The DiversityInc Top 50 Companies for Diversity® know, supplier diversity is essential to successful businesses. ...more
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Washington Feels the Power of Latino Businesses
By Arsalan Iftikhar
Small business is the "engine of the economy," and with 2.5 million Latino-owned small businesses in the United States, the contributions of these entrepreneurs cannot be underestimated. Looking to connect with Latino suppliers? Read this. ...more
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Magic Johnson: Don't Let Congress Dry Up Capital for WMBEs
By Jennifer Millman
Former basketball star Earvin "Magic" Johnson is one of many prominent business owners and lobbyists opposing a Congressional resolution to increase the tax rate on long-term capital gains by 130 percent, which would have a devastating impact on access to capital for small businesses, especially those owned by women and people of color. ...more
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Should Tier II Diversity Be Mandatory?
By Peter Ortiz
As corporations continue to tighten spending, they are faced with new challenges in ensuring that minority- and women-owned suppliers (MBEs and WBEs) have an opportunity to prove their vital role to companies. ...more
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The Best Supplier-Diversity Metrics
By Peter Ortiz
What's the best measure of supplier-diversity success? You might think it was how many dollars you spend with minority- and women-owned businesses (MBEs and WBEs). But a more accurate reflection of a company's commitment to supplier diversity is the percentage of its total procurement budget going to MBEs and WBEs. To prove the point, look at DiversityInc's 2006 Top 10 Companies for Supplier Diversity. ...more
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Supplier Diversity: What Are Tier I Best Practices?
By Peter Ortiz
Average spending for The 2006 DiversityInc Top 50 Companies for Diversity amounts to 7.5 percent of procurement budgets compared with, according to national industry estimates, 2 percent of companies nationwide that even have supplier-diversity programs. The Top 10 Companies for Supplier Diversity average 13.8 percent spending. How do they do it? "You need to have CEO and board support for diversity throughout the company," says Susan Bari, president of the Women's Business Enterprise National Council. ...more
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Laying the Foundation for Success
By the Editors of DiversityInc
How do companies lay a foundation for supplier-diversity success? Like other diversity initiatives, it starts with a comprehensive approach to making it work. ...more
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Subcontractors and Second-Tier Spending
By the Editors of DiversityInc
Supplier-diversity programs must not only take into account direct spending with suppliers, called first-tier suppliers, but also with those companies' providers and subcontractors, referred to as "second-tier" spending. ...more
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Breaking Down the Supply-Side Demographics
By the Editors of DiversityInc
Finding diverse suppliers is becoming easier as their numbers swell. Mirroring demographic shifts in the population, minority-owned businesses (MBEs) are growing faster than the national average. ...more
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Supplier Diversity Basics
By the Editors of DiversityInc
Like affirmative action, supplier diversity started out as a government mandate and has evolved into a competitive advantage for forward-thinking companies. As corporate America continues to try to find ways to cut costs and faces increasing pressure to make inroads into the fast-growing racial and ethnic markets, supplier diversity has emerged as one of the most viable and measurable methods of accomplishing those goals. ...more
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