What Steps do I Take to Implement an MBE Program?
Policy - The Corporate MBE Policy should be endorsed by senior management
- MBE Legitimacy (Certification) - World Class Supplier Diversity Programs use the National Minority Supplier Development Council (NMSDC) to certify (verify) minority business ownership
- Provide Incentives - Positive efforts and results need to be rewarded and encouraged.
- Set Goals - Whether the attainment of a percentage of your annual budget is your goal or a percentage increase in purchases from MBEs, your goals should be measurable.
- Analyze Practices - Installing an MBE process usually means reviewing existing practices. Analyze present practices, with corresponding recommendations to ease MBE participation.
- Keep Score - Measure results regularly and determine if you reached your objectives. If not, determine what went wrong and revise plans.
- Recognize your Successes - A recognition program is one of the most effective tools for increasing MBE participation.