Titlebook: Implementing Supplier Diversity; Driver of Entreprene Kathey K. Porter Book 2019 The Editor(s) (if applicable) and The Author(s) 2019 suppl

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Foundations for a Supplier Diversity Programver, companies have come to realize that supplier diversity and working with suppliers that may resemble their customers offer a more direct return on investment and tangible benefits to the organization through increased market penetration, increased spend with small and diverse vendors, and increased access to diverse markets.

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Common Mistakes in Design and Implementational level..Hackett’s study also found that most programs rely on overly simplistic measures to evaluate their programs. For instance, about 90% of organizations track their percentage of spending with diverse suppliers. However, fewer than half of the study participants track the percentage of diverse suppliers in the total pool of suppliers.

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Certifications and Other Tactics to Help Small Firms Leverage, Differentiate, and Win!panying government programs designed to assist disadvantaged businesses represent a strategic business opportunity for minority-owned businesses. Getting certified in one or more of these programs is the first step, but following through by delivering great value is what keeps your business in the game in the long term.

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Community Engagement: Partnerships and M.O.D.E. (Mentorship, Outreach, Development, and Education) within an organization—must figure out how to evolve to remain a resource for the businesses they are servicing. Most do this by driving an even more robust program to promote economic growth through supplier development.

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The “New” Business Casect that minority business procurement has on the communities where it does business. For them, investing in these minority-owned businesses helps build brand loyalty from the companies and communities that directly benefit from the jobs and the wealth created by their investment in supplier diversity.

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