Diversity Executive - November 2008 - (Page 24)

Supplier Partnerships Unlock Economic Opportunities The International Trade Bureau (ITB) at the Rainbow/PUSH Coalition deals with supplier diversity by focusing on inclusion as the key to economic growth. “Our idea of supplier diversity is equity and parity of African-Americans and people of color that can be quantified and measured,” said Marshette M. Turner, national director of the International Trade Bureau at the Rainbow/PUSH Coalition. The organization — which has been in existence for more than four decades — is dedicated to achieving parity for minority- and women-owned businesses. The ITB advocates on behalf of its members to provide access to contracts for African-American and other minority business owners from a myriad of service industries including telecommunications, retail, real estate and health care. More often than not, members join the bureau with the intention of doing business with specific large corporations, Turner said. “Minority entrepreneurs are often locked out because they are not large enough to go to a Sears, Roebuck [and Co.] or a Home Depot or Boeing Corporation [for contracts],” Turner explained. “But when they connect with [an] organization large enough to advocate on their behalf, it makes a difference.” Turner said the organization is attempting to get away from the term “supplier diversity” and replace it with “equanomics,” which refers to the measurable and quantifiable equality and parity of African-Americans and people of various ethnic backgrounds on corporate boards and other leadership positions. The term is reflective of the way the ITB conducts business — encouraging the use of minority-owned vendors and suppliers that have traditionally been underrepresented or excluded from corporate America. “Once they have the opportunity to sit at the table, there’s no talent or resource shortage,” Turner said. “[When] you’re dealing with minorities, people often think that 24 Diversity Executive | www.diversity-executive.com | November/December 2008 because they’re small business owners. But rest assured, if a Tucker & Associates — which is a large law firm — says they want to do business, they have the capabilities to do business.” The ITB also encourages business relations and joint ventures among member companies. “For smaller entrepreneurs who may not have the capability nor the resources to do business with large corporations, [it makes business sense to form a] joint venture with somebody in the same service industry. That way, they double revenue, resources, staff, productivity and [are] in a position to do business with the larger giants,” Turner explained. Turner said supplier diversity promotes minority vendors’ and suppliers’ products and services, and it encourages growth in specific service industries. It also benefits larger corporations, as it enables them to point to substantive actions they’ve taken to bring diversity activities into play, thus avoiding scrutiny for talking about diversity without practicing it. However, diversity executives must keep an eye out for undeserving organizations that try to exploit supplier diversity initiatives purely for financial gain. Turner said she has noticed an industrywide trend that could potentially constitute fraud: A growing number of Caucasianowned companies are claiming to be African-American or minority-owned so they can reap the benefits of doing business with large corporations. “They have one person who is AfricanAmerican in the family, and they will say that person has part ownership because they have a spouse [or relative belonging to a minority group],” Turner said. “It’s certainly not a good thing because these companies take away from vendors and business owners who are truly minority-owned and operated and have the resources to do business with large corporations.” – Deanna Hartley http://www.diversity-executive.com

Table of Contents for the Digital Edition of Diversity Executive - November 2008

Diversity Executive - November 2008
Editor’s Letter
Contents
Leadership
Connections
Guest Editorial
Diversity Executive Online
Middle Management Roadblock
‘Hidden Winds’ Hinder Progress
The Domino Effect
Supplier Partnerships Unlock Economic Opportunities
Measuring Diversity
Special Section: Who’s Who in Diversity and Inclusion
Dimensions of Difference
Overcoming Language Diff erences
Business Intelligence: Combating Subtle Discrimination
Case Study: Shifting Diversity Into Overdrive
Advertisers’ Index
Editorial Resources
Strategies

Diversity Executive - November 2008

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