Globally, industries face challenges across all facets of their operations. From supply chains and procurement, which is one of the hottest topics of the century, to technology and the increasing number of women working in science, technology, engineering and maths (STEM)—as well as young individuals taking on more subjects of this nature.
From attending many corporate business events over the past year, including Sustainability LIVE, the inaugural sustainability conference of BizClik Media Group, we’ve come to understand that not only are business roles more exciting than ever before, but a diverse representation is critical across the board.
Diversity in the sense that more females are entering the boardroom and more recognition is given to the members of staff as they bring unique perspectives to the floor. While we’re here to discuss women in business, they are one of the various underrepresented groups that are receiving more support from corporations.
Companies are more educated about diversity
Diversity, equity and inclusion (D,E&I) goes beyond the confines of a business. Take the automotive industry as an example where supporting diverse suppliers is critical for both the internal message and the overall operations throughout the business.
In early-June, Audi Group released an update stating its campaign for inclusivity across its relationships and supply chain partnerships. With a global footprint, Audi will come into contact with a diverse group of suppliers, which is in an area that it will develop upon moving forward.
“The basic idea behind our efforts is to consider and use as many perspectives as possible”, said Bernd Zielke, Manager of the Procurement Division at Audi AG, in the announcement.
“After all, more diversity means more competitors and, in the end, more economic opportunities for everyone: for us as a company, for our partner companies and for society.”
Determine what the industry looks like
The first step to inclusivity is to understand that equal opportunity is still a standard practice for every organisation. As such, the company has implemented diversity criteria as part of its supplier code of conduct to spread awareness and ensure that organisations practice equality.
Define inclusivity of minority-owned businesses
Understanding the basics is important. Do you know what a social business is?
Any organisation with a vested interest in society is a social business, and this forms a major part of environmental, social and governance (ESG)—discussed between more and more leaders on a daily basis. Social businesses also tend to reinvest profits to establish sustainable practices among society and reduce their operational impacts.
This is something that, through a partnership with Yunus Social Business, Audi will integrate more into its value chain and strengthen its commitment to corporate social responsibility. The ‘Unusual Partners’ programme is the name given to their efforts and encourages impact-focused business opportunities, which will include engagement with minority-owned businesses as part of Audi’s Supplier Diversity & Inclusion Initiative.