Supplier diversity should be a corporate strategy that removes barriers and provides access for diverse businesses to compete for contracts in an environment that fosters fair competition and equitable practices. Successful programs are built on deliberate actions and strategies supported
Organized chaos associated with mergers and acquisitions can create the ideal environment to focus on cross-organizational disciplines like supplier diversity. During these periods of growth and transformation, companies shift their focus optimizing processes and procedures to incorporate the new entity.
Great leaders tend to be collaborators who actively listen, understand unspoken messages and are empathetic when responding to another person’s point of view. These qualities, referred to as emotional intelligence (also known as emotional quotient, or EQ), are vital for
An organization uses its mission, vision and values to demonstrate what matters to it. Messaging is carefully crafted and designed to make the organization attractive to consumers, investors and employees. Now more than ever, inclusion is a necessary pillar in
Benchmarking can help organizations become “above average” in their supplier diversity efforts. The practice of measuring performance and calculating potential based on external standards, benchmarking drives improvement by admitting that other companies may be doing some things better than you.
Tesla’s fall from the S&P 500 ESG Index due to poor environmental, social and governance (ESG) scores skyrocketed this acronym into the headlines, amid a flurry of confusion. How can a company whose products are designed to be environmentally responsible exhibit
Regarding supplier diversity, bigger is not always better. The most common way to measure a supplier diversity program’s performance is dollars spent with diverse suppliers. Companies often look at this figure as a percentage of total controlled spend or spend
For suppliers, being diverse can be a differentiator, enabling them to be noticed — and included in a bidding process. Winning the contract, however, requires demonstrated performance, quality and results. After all, selecting the best supplier is a business imperative for any