Building a diverse group of business partners happens one relationship at a time.
That business practice helped spur a recent University symposium, "Building Relationships, Expanding Opportunities," organized by the Office of Business Diversity and the Medical Center. The event brought together representatives from 33 minority and women-owned business enterprises (MWBEs), along with senior leadership from the University, in hopes of fostering lasting professional connections.
"You can't do business with people you don't know," said Thurman White Jr., chief executive officer of San Francisco-based Progress Investments Management Company. "And you can't trust people if you don't know them."
"In my role as Director of the Office of Business Diversity," said Nadia Quarles, "I am responsible for making the connections between business leaders and the University.
"My colleagues at the University wanted the opportunity to meet and learn about qualified MWBEs, so we invited some of the top business leaders in the professional services industries," she said. "Business representatives wanted the opportunity to show they have the capability to meet the University's needs."
Reciprocal benefits
The 33 companies came into contact with leaders from six key University service areas - advertising/marketing/public relations, human resources, investment management, information technology, legal, and medical/surgical.
In one dynamic meeting with Mark Schmid, Vice President and Chief Investment Officer for the University, and members of his staff, Progress Investments laid the groundwork for an "interesting dialogue over the next several months," said Johnita Walker Mizelle, head of corporate, endowment and foundation sales for the investment management firm. "It was very engaging," she said. "They asked lots of questions. It was very thoughtful."
Schmid and University investors met with representatives of seven companies for 30 minutes each. "I got a lot of benefit from the meetings," Schmid says. "My team and I met some interesting, creative managers with very good track records."
The symposium marked the first time Johnson Publishing Company, Inc., the world's largest African-American owned and operated publishing company, talked business with the University and the Medical Center, said Tanya Hines, vice president of integrated sales and marketing for Johnson. "We talked about our mission, our new approach, and how we can help them achieve their goals," Hines said. "We have trust in our brand and access to a black audience that can be invaluable to the University."
Establishing relationships is just a start, said Bruce Melton, Associate General Counsel for the University, who met with representatives of four law firms. "You give them the opportunity to see what we do and to tell us what they do," Melton says. "But professional services are unusual because they are harder to value. It depends so much on working together. The first way to find out if there is any value in such a relationship is to learn how you can work together."
"This is a great start," said White of Progress Investments. "The ultimate measure is to come back in a year and see what new business relationships have been created and which existing ones have been expanded."
Quarles said she plans to follow up with each business and University official on a quarterly basis. "The professional services industry is unique in that it is driven by relationships and referrals. I'm hoping that through this event, leadership from both the University and the businesses have established relationships in which they feel comfortable reaching out and continuing their discussions about opportunities for engagement," Quarles said.
By Phil Rockrohr
—Prof. Chuan He
