Published July 8, 2013
Henry Louis Taylor Jr., professor of urban and regional planning and director of the Center for Urban Studies, discussed the relationship of supplier diversity to community wealth and the regeneration of distressed communities at a recent conference sponsored by True Blue Inclusion, a research and consultancy supporting diversity leaders across the U.S.
True Blue Inclusion’s “The Economics of Comprehensive Community Wealth and Job Creation Initiatives” gathering, held in Houston, Texas, on June 17, engaged participants and guests in an open dialogue with key influencers regarding the development of sustainable community wealth and job creation via a comprehensive supplier diversity strategy. The conversation connected leading practitioners, academics and thinkers around an agenda designed to provoke new thinking on supplier diversity.
Taylor addressed the potential of comprehensive supplier diversity in catalyzing the production of community wealth and jobs creation for distressed communities. He cited original policies from the 1960s designed to support minority business ownership towards the development of community wealth and jobs in struggling, primarily urban communities. Arguing these tenets still hold true, Taylor said supplier diversity initiatives and Chief Diversity Officers have a major role to play in the regeneration of distressed communities. Moving forward, Taylor recommends that Chief Diversity Officers determine measures of impact for supplier diversity initiatives. In closing, Taylor offered a multi-pronged strategy for developing supplier diversity programs: