Diversity, Equity, Inclusion, and Belonging (DEIB) of the future
October 2021: American Diversity Report presented its 2nd annual Diversity Town Hall in partnership with the Gary W. Rollins College of Business at the University of Tennessee at Chattanooga (UTC). Speaking virtually, the panel of business leaders explored the relationship of business and community in creating the Diversity, Equity, Inclusion, and Belonging (DEIB) of the future.
Dr. GAIL DAWSON Associate Professor of Management
Director of Diversity and Inclusion
Gary W. Rollins College of Business/UTC
President and Chief Executive Officer – U.S. Xpress
DEBORAH LEVINE Founder/Editor/Consultant – American Diversity Report
DAVID ORTIZ Corporate Diversity Officer, former board member – La Paz
LORNE STEEDLEY Vice President for Diversity and Inclusive Growth – Chattanooga Area Chamber of Commerce
NOTE: The Town Hall is also the October Black-Jewish Dialogue in partnership with: American Diversity Report, Chattanooga News Chronicle, Mizpah Congregation, Jewish Federation of Greater Chattanooga, Citizens Uprooting Racism in Bermuda (C.U.R.B. )
When COVID-19 changed the economy, more people became entrepreneurs. The act of creating your own business has an underlying connection between spirituality and entrepreneurship. How does that work? The first element is the business side of the endeavor and its bottom line, otherwise known as ‘show me the money.’ The second motivation is self-fulfillment. Some refer to this element of entrepreneurship as ‘personal satisfaction.’ But the core of the vague term ‘personal satisfaction’ is what is best described as a spiritual sense of purpose. This spirituality is sometimes linked to one’s particular faith tradition, but is not necessarily so. Rather, there is a commonality in this spiritual sense of something greater than ourselves that translates across the boundaries of specific religions. Most importantly, there is tremendous power where this spirituality and business overlap.
COVID-19 has led to a dramatic loss of human life worldwide and presents an unprecedented challenge to public health, food systems and the world of work. It has had a devastating effect on our social economy, public health & monetary system. Millions of people are at risk of falling into extreme poverty, while the number of undernourished people, currently estimated at nearly 690 million, could increase by 132 million or more by the end of the year.
Half of the world’s 3.3 billion global workforce are at risk of losing their livelihoods. Workforce caregivers facing biggest challenge of survival & informal economy workers are particularly vulnerable because they lack social protection, access to quality health care and have lost access to productive assets. They are lacking proper nutrition, secure jobs & cannot access health care faculties.
Five decades ago, the only consumer that brands cared about was the White Anglo-Saxon Protestants (WASPs). The reason being that they represented the majority of the consumer market. Some years down the line, a few companies/brands realized that directing marketing material towards the African-American ethnic population has the potential to boom up their business. So, they devised multicultural marketing strategies.
But today, a few more years down the line, shows a different consumer picture. Now, the population of America has become progressively diverse. The mixed-race population and Asian people are the two fastest growing groups in the US. On the other hand, there is a lag of growth in the Non-Hispanic white segment of the US population. From July 2015 to July 2016, Asian and mixed-race population grew by 3% while Non-Hispanic whites grew by just 5,000. Research suggests that by 2040, the minority groups today would combine to attain a majority in the US population. So, the marketing strategies that used to work a few decades back would no longer work in the future. This has led to professionals diversifying their marketing procedures.
At the present moment, when only a few economies of the world have recovered from the global economic crisis that befell, and only spill-over has occurred for the rest, corporate governance has become a vital solution for the economic growth and sustainable development to which every economy aspires.
What is Corporate Governance?
Corporate Governanceis the system of process and rules under which a company is directed and controlled. Corporate Governance isn’t just a set of value statements. There are a significant number of very technical legal requirements that companies must follow in order to demonstrate that they have good corporate governance.
Why good Governance is important
Fundamentally, there is a level of confidence that is associated with a company that is known to have good corporate governance.
Corporate governance is known to be one of the criteria that foreign institutional investors are increasingly depending on when deciding on which companies to invest in.
According to the Conference Board the global economy will slow in key markets such as Europe and Japan and U.S. companies will struggle with exports to China and mature economies around the world. Yet, for many, doing business globally remains a primary source of revenue and a major goal in 2019. Few are naive about the challenges involved in going global in today’s environment. But expanding the local-global connection will be a 2019 goal for many businesses, leaders, and employees. Here’s what they will need to consider.
Forbes Magazine has listed 11 trends to watch in online technology in 2019. Those trends include increased online sales, more automation, improved interface between humans and Artificial Intelligence (AI), better cybersecurity, faster connections, and the convergence of various technologies along with multiple devices that are inter-connected.
Perhaps the most intriguing, and unexpected, trend predicted is addressing the technology backlash. No details of how this would be done are given. But, the article assures us that headlines about the negative influence of technology on our democratic process, society, and interpersonal relationships will fade away as 2019 progresses.
Global Leadership today: The modern workplace brims with activity as people dart from meeting to meeting. Sometimes our communication is too brief. At times our messages are not well thought out. Even when the communication is crystal clear, the message can get lost in a wave of workload. But because our organizations tend to rely on best practices, people have a common frame-of-reference when there are misunderstandings. Best practices are a common denominator that allow us to understand and predict behavior, and serve as “true north” as we navigate the complexity of modern organizational life.
As organizations expand internationally and multi-cultural communications between employees, vendors, suppliers, and customers become more frequent, we are finding that the common denominator of best practices begins to unravel. And once we can no longer fall back on best practices, our inner compass can go haywire.
On what would have been Nelson Mandela’s 100th birthday the world will revisit his extraordinary leadership after his 1990 release from twenty-seven years in prison. Yet, Mandela’s influence was far-ranging long before the 1990s when he pulled together the South Africa that we know today, negotiated a rainbow nation, and became its first black president. I want to honor Mandela’s early impact and emphasize the global involvement in South Africa’s apartheid government and in its demise. The role of international financial institutions in the Mandela story is key for me both historical and personal. Lobbying the banks to divest in South Africa was the catalyst for my involvement not only in the anti-apartheid movement, but in the advocacy of civil rights over a life time.
Inspired by the response to my article, 2018 Challenges for Women Entrepreneurs and How to Overcome Them, I initiated this series called, How to Grow as an Entrepreneur. I talk to Leading and Inspiring Women all over the world to Raise Awareness among Women and ask them if they are ready to Pass the Baton on to aspiring entrepreneurs!
Lynda Spiegel is an Awesome Mom of two and the Founder of Rising Star Resumes that provides job search strategies, resume, cover letter advice, and LinkedIn profile keyword optimization. She is an author of frequent articles on The Wall Street Journal Experts Blog, LinkedIn Pulse, CornerstoneOnDemand, and Talent Culture Blogs.