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Published in:
2019 | OriginalPaper | Chapter
12. From Social Issue to Business and Economic Imperative: The Impact of Changing Demographics
Author : Kathey K. Porter
Published in: Implementing Supplier Diversity
Publisher: Springer International Publishing
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Abstract
According to the US Census Bureau, more than half of all Americans will belong to a minority group by the year 2044. This major demographic shift will have a significant impact on every aspect of the country. Improving minority access to business opportunities will be more than a social issue; it will be an economic imperative. Because entrepreneurship and small business ownership are the greatest drivers of wealth and job creation in the United States, access to employment and entrepreneurship among minorities in the future will be exponentially more important to the health and sustainability of the US economy.
In today’s fiercely competitive global business environment, organizations are faced with a harsh new reality: The antiquated supply chains of yesteryear are no longer sufficient for addressing the relentlessly shifting demographics within the marketplace or for capturing a qualified cohort of uniquely talented, diverse professionals