WASHINGTON, D.C. — The Women’s Business Enterprise National Council (WBENC) recently recognized 75 corporations with its America’s Top Corporations for Women’s Business Enterprises (WBEs) award, which singles out corporations that have demonstrated a sustained commitment to the inclusion of women-owned businesses in their supply chains. Hospitality companies, including Marriott International, MGM Resorts International, and The Walt Disney Company, are once again among this year’s honorees.
Last year, Marriott International reported that the company expected to spend $500 million in 2019 with women-owned businesses for goods and services. The figure, which included spending at Marriott’s managed hotels and corporate, was a record for the company and represented a near doubling of its annual spend with women-owned businesses compared to 2015—the year that Marriott pledged to reach this milestone by 2020.
This is MGM Resorts’ seventh consecutive year on WBENC’s Top Corporations for WBEs list. In 2019, the company spent $213.1 million with certified diverse-owned business enterprises, with nearly $79.9 million spent on women-owned businesses. The Supplier Diversity program is part of MGM Resorts’ larger company diversity and inclusion initiative. Since 2003, MGM Resorts has required minority and women participation in all biddable commodity purchases exceeding $3,000.
The Top Corporations WBENC Model reviews each applicant holistically on the fundamental concepts of procurement, including program management, supplier management, and supplier development, which entails providing access to supplier resources and a business case for supplier diversity. According to WBENC, the 2019 honorees are successfully implementing diversity and inclusion programs that enable growth and innovation while breaking down barriers for women entrepreneurs. Underscoring that commitment, the 2019 Top Corporations collectively spent more than $51.9 billion with WBENC-Certified WBE suppliers in 2018—an increase of $12.4 billion from 2017. All 75 of the 2019 Top Corporations require supplier diversity language in their procurement requests and mentor WBEs to help drive results and develop women-owned businesses as valued suppliers.
The Top Corporations will be honored during the 2020 WBENC Summit & Salute, a gathering of more than 1,800 entrepreneurs and business leaders taking place March 16-18, 2020, in Nashville, Tenn.