WEBVTT 1 00:00:00.628 --> 00:00:04.045 (gentle inspiring music) 2 00:00:07.040 --> 00:00:09.000 I think there are certain key things 3 00:00:09.000 --> 00:00:11.760 that each member should do 4 00:00:11.760 --> 00:00:14.900 in order to accelerate the growth of minority businesses 5 00:00:14.900 --> 00:00:16.450 within their concerns. 6 00:00:16.450 --> 00:00:17.780 So, you set up a program, 7 00:00:17.780 --> 00:00:19.140 you set goals, 8 00:00:19.140 --> 00:00:22.280 nobody really analyzes what is procured, 9 00:00:22.280 --> 00:00:24.810 what is procured on an ongoing basis, 10 00:00:24.810 --> 00:00:27.430 what is being projected to be, you know, 11 00:00:27.430 --> 00:00:29.970 part of the supply chain for the next five or 10 years, 12 00:00:29.970 --> 00:00:31.290 nobody does that analysis, 13 00:00:31.290 --> 00:00:32.920 in terms of minority business 14 00:00:32.920 --> 00:00:34.520 and I think that's part of the reasons 15 00:00:34.520 --> 00:00:35.730 why they haven't been as successful. 16 00:00:35.730 --> 00:00:37.180 I think you have to do that 17 00:00:37.180 --> 00:00:39.140 and that's why it's very important 18 00:00:39.140 --> 00:00:41.100 to really involve in the planning 19 00:00:41.100 --> 00:00:43.520 and the implementation of any program 20 00:00:43.520 --> 00:00:46.300 to really involve the chief procurement officer. 21 00:00:46.300 --> 00:00:48.060 They know what you're buying, 22 00:00:48.060 --> 00:00:49.690 they know what has to be done. 23 00:00:49.690 --> 00:00:51.080 None of this happens 24 00:00:51.080 --> 00:00:54.520 unless the CEO and the board embraces it. 25 00:00:54.520 --> 00:00:57.650 There are no real quick fixes to this. 26 00:00:57.650 --> 00:00:58.980 We're learning that, 27 00:00:58.980 --> 00:01:01.740 but we're also documenting what can be done. 28 00:01:01.740 --> 00:01:03.770 We're accumulating so much data, 29 00:01:03.770 --> 00:01:06.780 so much information that we want to share, 30 00:01:06.780 --> 00:01:09.830 not just within our own ecosystem, 31 00:01:09.830 --> 00:01:12.710 but in the larger ecosystem of corporate America 32 00:01:12.710 --> 00:01:13.780 in different industries 33 00:01:13.780 --> 00:01:15.660 and hopefully because of this, 34 00:01:15.660 --> 00:01:19.080 in our contribution and the contribution of many others, 35 00:01:19.080 --> 00:01:21.320 we won't be kicking this can down the road 36 00:01:21.320 --> 00:01:23.410 and hoping some miracle will happen. 37 00:01:23.410 --> 00:01:24.470 Because it won't happen 38 00:01:24.470 --> 00:01:27.270 unless we really invest the time, 39 00:01:27.270 --> 00:01:31.600 the money, the resources, the brilliance, 40 00:01:31.600 --> 00:01:34.173 the approaches, and that's what we're doing.