CEOs TAKE THE PLEDGE
Vistra is proud to support the One Percent Plus Initiative – an exciting effort for corporations to increase spend with Minority Business Enterprises and ensure the full economic opportunity is available to all. I invite companies in DFW and across the country to think bigger, be intentional, and take deliberate action with investment that drives innovation and profitability while benefiting the communities we serve.
Jim Burke
President/CEO
Vistra Corp
At DFW, our organization has a history of advocating and serving as a leading voice for supplier diversity for both internal and external stakeholders. It’s a part of our DNA. Supplier diversity has proven to be the economic stimulus and job creator in the region, unlocking innovation and contributing to our success as a global hub. Specifically, our robust supplier diversity program has been a foundation of our success, allowing us to set and exceed goals for M/WBEs. In support of the Council’s One Percent Plus Pledge Program, I formally pledge my commitment for DFW to continue to grow our MBE partnerships.
Sean Donohue
CEO
DFW International Airport
At Celanese, we believe that promoting supplier diversity is good for business. Diverse suppliers bring unique perspectives, experiences and capabilities that accelerate innovation, reduce cost and improve customer satisfaction. As our supplier diversity program continues to mature, we look forward to working with more Minority Business Enterprises (MBEs) throughout our supply chain, which is why we are proud to pledge our support of the DFW-MSDC 1% Plus MBE Initiative.
Lori Ryerkerk
Chairman, President and CEO
Celanese
TAKE THE PLEDGE
Sign the CEO One Percent Plus Pledge agreeing your organization will annually:
- Increase overall spend with certified MBEs by One Percent Plus
- Increase the number of MBEs by One Percent Plus
- Report your aggregate results
Get added to our wall of support!
About the One Percent Plus Initiative
We are driving a new wave of emphasis on minority business economic equity. We are leveraging our voice and our collective talents to champion minority business inclusion throughout our businesses and community.
Dallas Fort Worth Minority Supplier Development Council introduced the One Percent Plus Initiative to support deliberate interventions to close the economic wealth gap for Minority Business Enterprises (MBEs), which is estimated at 333 years with the current level of spend. According to a recent MMSDC/ supplier io Economic Impact study, increasing spend with MBE’s by at least One Percent Plus year over year would shrink the economic wealth gap closure timeframe for communities of color to 15 years.
The Council recognizes that an effective, innovative, and progressive supply chain diversity initiative not only enhances the economic development of our community, but drives cost savings, innovation, market penetration and profitability. The goal is to close the economic wealth gap for communities of color by securing sustainable minority business enterprise engagement.
The One Percent Plus goal is the floor and not the ceiling. We believe this initiative will benefit all participating entities by creating competitive advantages and drive bottom line profitability. We believe in leading by example and invite all CEOs and leaders to sign this pledge with us!
CEOs and counting. JOIN US!
VISTRA CORP
Jim Burke
President/CEO
Vistra Corp
DFW INTERNATIONAL AIRPORT
Sean Donohue
CEO
DFW International Airport
CELANESE
Lori Ryerkerk
Chairman, President & CEO
Celanese
DFW MSDC
Margo J. Posey
President/CEO
DFW MSDC
HOW YOU CAN ENGAGE
Board of Directors
- Influence the actions of your Supply Chain
- Set target KPIs for the Supply Chain Professionals and Supplier Diversity Professionals
- Engage your entire organization in intentional utilization of certified minority-owned businesses
Supplier Diversity Professionals
- Identify the criteria for bid opportunities and inclusion
- Ensure Supply Chain Professionals include at least 2 diverse suppliers for every opportunity (minority inclusion)
- Arrange debrief on the why, if contract/bid is lost
Minority Business Enterprises (MBEs)
- Do more business with other MBEs!
- Ensure you can access the DFW MSDC Membership Portal
- Have a winning Capabilities Statement
- Do your homework on where your solutions best fit
- Stay engaged. Show up and Follow Up.
Supply Chain Professionals
- Be intentional in driving minority inclusion
- Be timely — communicate opportunities by sending information to your Supplier Diversity Professionals, The Council, and your own database
- Be Specific — Provide insights and criteria with clear expectations
- Be inclusive — Include at least 2 diverse suppliers on every opportunity (minority included)
- Set and track target KPIs
- Arrange a debrief with MBEs that lose a bid award.
- Stay Engaged — Educate yourself and your team by attending the Council’s Quarterly Supply Chain Luncheons
Frequently Asked Questions (FAQs)
Why One Percent?
A. Based on the Economic Study, closing the equity gap will result in increased Gross Domestic Product (GDP) by 8 trillion dollars, adding an additional 2.6 trillion dollars in consumer spending, and an additional 9 million jobs by 2050.
Has this been done before?
A. While the One Percent Plus Initiative is new, we have executed similar effective
strategies. In 1999, we introduced securing 2 million by 2002 as a MBE revenue
goal. We reached the goal in 2001 because of intentional buying by corporations
and MBEs. We know friendly competition works and we also know how important
it is to close the gap.
How can I make a difference?
A. You can make a difference by taking the pledge and committing to the three required actions.
- First, increase overall spend with certified MBEs by One Percent Plus annually.
- Secondly, increase the number of MBEs engaged by One Percent Plus annually.
- And thirdly, report your aggregate results annually.
We are happy to provide support and will share best practices to help you along the
way. Make the commitment, develop a plan, and use the Council as a resource.
Who does the pledge benefit?
A. The One Percent Plus Pledge benefits everybody – the economy, the region, buying entities, and minority business enterprises alike. The pledge demonstrates commitment to closing the equity gap. It’s the resounding response for actions that will make a
difference.
Do I have to be a large corporation to make the pledge?
A. No, the pledge includes all corporations. In fact, we encourage everyone including minority owned business to take the pledge. We must all do our part to close the equity gap. Collectively we all make the difference.
How do you measure success?
A. Success of the initiative will include an increase in revenue and number of MBEs
engaged. The aggregate data requested will help us track our progress and tell the
story.
How often is progress/success measured?
A. We plan to provide quarterly updates highlighting best practices and successes. We feel strongly that the process will yield insights, innovation and inspiration.
How can I join?
Sign the pledge and walk through next steps.
TAKE THE PLEDGE
Sign the CEO One Percent Plus Pledge agreeing your organization will annually:
- Increase overall spend with certified MBEs by One Percent Plus
- Increase the number of MBEs by One Percent Plus
- Report your aggregate results
Get added to our wall of support!