This article highlights points recently published in "Minority Business Success: Refocusing on the American Dream" coauthored by James H. Lowry and Leonard Greenhalgh. What DIR appreciates about the recap is its focus on corporate + small business relationship building. It behooves corporations to cultivate strong, trusting relationships early-on with small, diverse businesses in order to be positioned to be good counsel and eventually competitive receivers of needed goods and services. Business building is a two-way street, and as we know, respecting the "rules of the road" is necessary but trusting your fellow drivers is vital–or no one survives without some accidental bumps and scrapes.
"U.S. companies need to do a better job of supporting and developing minority businesses. Minorities will become the majority of the U.S. population by 2045. Therefore, minority businesses need to deliver the value that American corporations expect -- at every level of the supply chain. Right now they do not -- as they are relegated to low-value or peripheral work that does not directly support the corporate value chain," said BCG Senior Advisor James H. Lowry, coauthor of Minority Business Success: Refocusing on the American Dream (Stanford Business Books, 2011).