We challenge Corporate America to embrace a new bottom line. One that expands on the idea of return on investment to include not just the quantitative measure of net income but also the qualitative ROI of net impact. That challenge begins with our simple 3-point plan to bring greater minority business economic inclusion and equality to the procurement of goods and services by Corporate America.
COMMITMENT:
Make at least 15% of your purchases with minority-owned businesses
Make the pie bigger and eliminate category exclusions
Focus growth on Tier 1 direct spend
Make sure all competitive procurement opportunities include at least three minority suppliers
Create unbundled purchasing opportunities to engage and develop smaller minority businesses in your supply chain
IMPACT:
Increase the number of minority businesses in your supply chain by at least 15%
Create a pipeline for greater minority business success
Focus on contracts as being one of the most important ways to grow MBEs, not just education
Numbers matter; that’s how we create critical mass and a ripple effect of opportunities
TRANSPARENCY:
Make public the percentage you spend and the number of minority businesses in your supply chain
Metrics hold the organization accountable; making your numbers public holds everyone accountable
“The combined buying power of Blacks, Asian-Americans and Native Americans is estimated to be $2.4 trillion, while the nation’s Hispanics command $1.5 trillion in spending power — larger than the GDP of Australia.”
– University of Georgia, “The Multicultural Economy Report”
