On this weeks episode of The Art Of Procurement, my guests are Stan Litow and Tim Coates.
Stan is the Vice President of Corporate Citizenship and Corporate Affairs at IBM, and the President of IBM Foundation. Tim is an executive within the IBM Foundation, with the responsibility of managing their Supplier Connection program.
Today’s discussion talks about corporate philanthropy and corporate social responsibility – or CSR – and what large private enterprises can do to help spur small business growth, and the impact that has on local economies. We talk about why this is important, the challenges that big businesses face in working with small companies, and some of the benefits including increased access to innovative products and services.
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“Companies looking at their supply chain practices can generate a significant amount of opportunity and growth for small businesses, or women and minority owned businesses, by focusing their spending in a way that produces a multiplier effect.”
In this episode, you will learn:
- What can large private enterprises can do to help spur small business growth, and the impact that has on local economies.
- The challenges that big businesses face in working with small companies, and some of the benefits including increased access to innovative products and services.
- What role procurement can play in helping facilitate partnerships between large and small companies.
- How procurement leaders have influenced CSR initiatives.
- Why is the role of procurement in promoting small business growth so important.
- What IBM does in their business to promote small business growth.
- What can other businesses learn or take away from what IBM does in terms of supporting small business growth.
- What the benefits of supplier connection is to member companies, and to participating small businesses.
- What challenges do small businesses face while working with larger organizations. On the flip side, what challenges do big businesses face while working with smaller companies.
- Do procurement processes, or big business requirements make it too onerous for a small business to work with a larger company.
- Is there a perception of increased risk in working with smaller companies. How should larger companies mitigate these risks?
- Where should companies who are interested in increasing spend with companies in the local communities start.
- Minimum spend thresholds or minimum commitments for organizations in terms of spend they will drive through the Supplier Connection program, and how they can start the conversation with Supplier Connection.
Episode Transcript (PDF):
- Click here to download a copy of today’s episode transcript (PDF).
Links and Resources:
- 14 Questions to Ask to Determine the Longevity of Your Supplier Engagement
- Supplier Connection
- US Chamber of Commerce 2015 Corporate Steward Award
- Supplier Connection on Twitter
- Stan Litow on LinkedIn
- Tim Coates on LinkedIn
Thanks for Listening!
