Shardé Marchewski’s Post

At Living Cities, we recognize the importance of addressing racial inequalities in business ownership as a vital pathway to economic growth in minority communities. Recent research on initiatives by companies like Yelp and Wayfair, which label and promote minority-owned businesses, demonstrates the significant impact these strategies can have. By making underrepresented businesses more findable, these companies have not only increased customer engagement but have also uncovered new markets eager to support minority entrepreneurs. As organizations continue to incorporate Environmental, Social, and Governance factors and respond to the demands for racial equity, these findings highlight the value of aligning business models with social impact goals. It's clear that promoting diversity and inclusion within supply chains and online platforms is not just feasible but essential for fostering sustainable growth in our communities. Great article from Harvard Business Review.

Outsmarting your implicit bias is good for business. Here's the latest example: researchers found that amplifying minority-owned businesses also drives sales to the sponsoring company (i.e., Yelp and Wayfair). This practice also helps reduce racial disparities by promoting minority-owned businesses. Outsmarting implicit bias is good for business, and it's good for aligning our values of fairness and equality with our actions. Read more about the research here: https://lnkd.in/eY7YvQcc #implicitbias #bias #business #racialbias

What do Walmart, Amazon and Apple have in common apart from being amongst some of the largest most profitable companies? In my extensive travels across over 50 countries and consulting for a myriad of industries, I've gathered insights that transcend beyond mere observation to undeniable evidence. The global marketplace is undergoing a monumental shift, moving decisively away from outdated win-lose dynamics towards a future where win-win outcomes reign supreme. This evolution is not just a testament to my experiences but is solidly backed by robust data. The compelling narrative of today's business landscape reveals that diversity within teams is far from a mere gesture towards inclusivity. It's a proven catalyst for innovation. Research, including a pivotal study by McKinsey, has shown that companies embracing gender diversity on their executive teams are 25% more likely to achieve above-average profitability. Furthermore, organisations that celebrate ethnic diversity outshine their counterparts by 36% in profitability metrics. These are not just numbers; they're a clarion call to the undeniable value diversity brings to the table in driving competitive advantage and expanding market presence. But here's where the narrative deepens. The importance of diversity, equity, and inclusion (DEI) transcends the realms of moral obligation or corporate responsibility. It emerges as a strategic imperative that ignites creativity, propels innovation, and unveils unparalleled opportunities. Embracing DEI is not merely about aligning with ethical standards; it's about strategically positioning ourselves to lead in the global arena. As we navigate this journey, adopting a win-win strategy that champions DEI becomes the bedrock of enduring success. It's about harnessing the full potential of human diversity to spark innovations that resonate across continents. This strategy ensures our growth and evolution benefits not just a select few, but every stakeholder involved. So, let's embrace this transformative path together, employing strategies that reflect the rich tapestry of our global community. By doing so, we're not just participating in the marketplace; we're leading it, creating an ecosystem where innovation flourishes, market share increases, and true win-win outcomes are realised for all. #GlobalLeadership #Innovation #DiversityInTech #SustainableBusiness #WinWinStrategy #FutureOfWork #ethnicallydiverse #DEI #genderlensinvesting #MarketLeaders #GlobalImpact #localactivation Africa Sustainable Trade Dr. Ama Onyerinma Amazon Apple Walmart So, the answer I was eluding to is as follows: 1. Walmart reported that women make up 44% of its global workforce, with 34% of its management being women. 2. Amazon reported that 31.4% of its senior leaders globally were women. 3. Apple's 2021 diversity report stated that 35% of its leaders - defined as people managers were women.

Fantastic article that really highlights just how much companies are hurting themselves by ditching DEI! I think Doug Melville puts it well: "Today, the politics of DEI is overshadowing its power and potential." There really is so much power and potential—in abandoning DEI, companies are costing themselves not only top talent, but potential customers. Many customers care deeply about the values and ethics of the companies they purchase from and greatly look down upon retracting initial commitment to DEI. #DEI #Diversity #Spending

My good friend Doug Melville is shedding light on the current state of DEI in his latest Forbes article. "By 2045, America will be majority people of color - and building a bridge to be inclusive of these voices - allows companies to overcome the historic blindspot levied over these consumers when it comes to messaging, marketing and elevating their importance to business, society - and if we are being honest - the America economy at large. How big is this blindspot? Over $6 trillion dollars domestically, and $16 trillion dollars globally." 🔗 to article here: https://lnkd.in/ewZ_DsuW

Explore real-world examples of how exclusion can damage a brand, and learn why inclusion is essential for long-term business success.

When we talk about DEI, it’s not just Diversity, Equity, and Inclusion we’re referring to. We’re also referring to Driving Excessive Income. 💸 Here’s the reality: businesses that embrace diversity and foster truly inclusive cultures aren’t just doing the right thing—they’re tapping into a serious competitive advantage. When you bring together people from different backgrounds, experiences, and perspectives, the innovation takes off, creativity thrives, and the solutions you create are next-level. Still need more convincing? Let’s look at the numbers: • Diverse companies are 35% more likely to outperform their competitors. • Teams that are inclusive are 1.7 times more innovative. So it’s simple—prioritising DEI isn’t just about improving workplace culture, it’s about boosting your bottom line. Companies that lean into diversity don’t just grow, they skyrocket. If you’re ready to take your business to new heights, it’s time to make DEI a priority—because your **revenue depends on it. This was Inspired by a fab post from the inimitable Cindy Gallop: https://lnkd.in/ev9D82VP Do you agree? 👊🏽👊🏽👊🏽 #DEI #DiversityAndInclusion #BusinessGrowth #Innovation #ProfitAndPurpose

This Black Business Month, imagine the impact if 15% of Black-owned businesses each hired just one more employee. The result? A $55 billion boost to our economy. Through Path to 15|55, we're turning this vision into reality by driving awareness, fostering alignment, and taking action. How do you think this kind of growth could transform communities? #PathTo1555 #BlackBusinessMonth #BlackBusiness #EconomicGrowth #EquityInAction #CapEQ

Great Advice to CEOs From Martin Whittaker of JUST Capital—Want to Help Your Shareholders? Focus on the Stakeholders Without Whom There Would Be No Company.... This morning’s JUST newsletter features a great Jon Stewart segment this week that skewers corporate pandering to gays, Latinos, Blacks, etc. Whittaker writes, “To the American people, it’s actions that count, not words. Companies need to know what their stakeholders want, understand the business case, lay out an authentic strategy for achieving it, and be prepared to live with their decisions. Put another way, worry less about Pride flags and statements of racial solidarity, and more about whether workplace practices, customer engagement, and other stakeholder strategies are genuinely producing results.” The best case for diversity is that it’s just better business to attract shareholders, customers, employees, distribution and supply chain partners from the broadest possible community. #stakeholdercapitalism https://lnkd.in/eyVQhcUj

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