2020 Top 25 Women In Power Impacting Diversity
It is always such a pleasure each year to introduce DiversityPlus Magazine’s Top 25 Women in Power Impacting Diversity. They are exceptional women in the diversity arena who are recognized for their ongoing efforts and successes in supplier diversity. One of the important aspects of their work is that they focus on diverse suppliers, but in doing so, are also having a positive influence on diversity and inclusion in the workplace and communities. In 2020, the Top 25 Women once again elevated supplier diversity by working to make it the responsibility of everyone in their entire organization and not just sourcing and procurement or category managers. They strive to make everyone aware and knowledgeable of the importance of diverse suppliers to organizational innovation and long-term strategic success.
It took years of relentless communication, but one thing that has become very obvious is the champions of supplier diversity have been successful in garnering the support of senior leaders. The support of the CEO and executive leaders is the backbone of their success. With that support, the Women in Power gained the ability to reach out across their respective organizations to work with decision-makers at all levels in advancing supplier diversity. They work across geographies and across functions, making their approach ideal for a time when organizations are flattening and people network instead of working in siloes.
Each professional named as one of the 25 Women in Power Impacting Diversity completed a questionnaire that asked three questions about their biggest accomplishments, the plan they followed to drive supplier diversity program success, and the strategy for getting senior leadership support. From those three questions flowed a wealth of information that made it clear the Women in Power have developed unique approaches that perfectly fit her organization’s needs. One woman chose a strategic focus on category specific outreach events. Another has strived to align the supplier diversity strategy with the business strategies. Many of them developed methods for holding decision-makers accountable and to increase program visibility within the organization and among community members.
New Studies Prove Minority Business is Ready to Fuel Growth of the US Economy
WASHINGTON, July 15, 2020 /PRNewswire/ — As part of a groundbreaking initiative to raise billions of dollars of growth equity capital focused on ethnically diverse and women-owned business enterprises (DWBEs), the National Association of Investment Companies (NAIC) today announced it has published two related reports that quantify the robust demand for capital by these companies and the significant investment potential within this traditionally overlooked group.
Access to Capital: Accelerating the Growth of Diverse- and Women-Owned Businesses, The Trillion Dollar Opportunity documents the volume of viable DWBEs that are well-positioned to receive growth equity and examines potential solutions to enable the scaling of these businesses. Further, the report quantifies the tremendous impact equal access to growth opportunities for these companies would have on the U.S. economy.
The State of Growth Equity for Minority Business: A River of Capital Flowing Past our Communities analyzes the sweet spot in growth investing, diverse-owned middle-market businesses in the $10 million-$1 billion revenue range. While often thought of as a small niche, there are approximately 20,000 DWBEs in this growing segment that is a predominantly untapped source of investment opportunities.
75 Black-Owned Businesses To Support
The U.S. is home to roughly 2.5 million black-owned businesses, according to the Census Bureau. Although the vast majority are sole proprietorships or small-scale affairs, an increasing number have regional reach and national ambitions. Below, we resurface 10 black entrepreneurs who have recently been featured in Forbes and provide a directory of an additional 65 black-owned businesses to support. It is by no means an exhaustive list: We aren’t including numerous high-profile celebrity entrepreneurs like Oprah Winfrey or Rihanna or the many successful black business owners who sell services to other corporations, like World Wide Technology’s David Steward. These entrepreneurs and owners sell cosmetics, clothing, books, cars and financial products that you can buy. Fewer offer healthcare or consumer tech products, in part, because they lack access to venture funding. If you are interested in learning more about other black-owned businesses, there are a number of apps and directories online, including
Medina Jett Wins 2020 Women in Business Award!
ICSGroup is proud to announce that its Founder and CEO Medina Jett has been recognized as a Woman in Business by the Hartford Business Journal.
The HBJ Women in Business Award recognizes outstanding women in business for their notable contributions within their organizations and communities. The honorees are selected based on their business savvy, confidence, and a strong track record of professional success.
The lack of diversity in the asset management industry is a huge problem in this country. Medina formed ICSGroup to help women- and minority-owned firms, often referred to as Emerging Managers, build institutional quality compliance and operations infrastructures that earn the trust of institutional investors and pave the way for increased capital. In describing the challenges of being a minority and female entrepreneur in the asset management industry, Medina acknowledges the support of her mentor JoAnn Price at Fairview Capital, Robert Greene at the National Association of Investment Companies as well as all ICSGroup’s clients.
2020 CVS Health & RWU Executive Learning Series
We are excited to announce that we are now accepting applications for the 6th Annual Executive Learning Series for Diverse Suppliers. This year’s program will begin on June 11th, 2020, and as in previous years, will consist of a combination of in-person classes, executive coaching, and online learning.
We have worked diligently with our colleagues at the Center for Workforce & Professional Development at the Roger Williams University College to enhance this year’s program, based on feedback from participants in previous years. Included are:
- Refinements to the curriculum and class schedule
- Additional coaching from CVS Health Procurement
- Early access and a walk-through of the mock RFP
We are confident that this program will significantly expand opportunities for all participants – whether with CVS Health or other companies similarly committed to enhancing supplier diversity.
Here is what a previous graduate had to say:
“The learnings from the CVS Executive Learning Series was incredibly powerful and will make a big difference as we continue to move forward in either pivoting into new industries and/or pursuing key clients…I enjoyed not only the material covered but the relationship and friendship that I now share with my fellow cohorts. It’s amazing the way CVS selected because there are synergies based on our collective capabilities and I am pursuing discussions with some, where I think we can go after significant business to deliver on the supplier diversity mission – economic impact in our communicates.” – Betty Manetta, President & CEO of Argent Associates, Inc.
In this spirit, we respectfully request that you distribute the attached letter to your certified diverse supplier members and encourage them to apply. Also, the following documents are attached to serve as additional resources: