Supplier diversity programs have played a pivotal role in the exponential growth of minority businesses in traditional areas such as construction, janitorial services, security, manufacturing, and distribution. These programs have not, however, provided the same measure of growth and opportunities for minority and women-owned (M/WBE) professional service providers in fields such as public relations, finance, and legal. Some corporations have made strides to improve upon their utilization of M/WBE professional service providers, but this appears to be the exception to the rule. Unfortunately, the identification and utilization of M/WBE professional service providers, specifically legal services, appear to be lagging behind – if not excluded – by most corporations in the application of their supplier diversity programs.
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Business Organization Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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