turning obstacles into opportunities. mbe survey
TRANSCRIPT
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Turning Obstacles into Opportunities
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MBE Survey
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Building a
Client Base- 53%
Finding Funding-16%
Changing Strategic Direction-10%
Increasing Competition-9%
Other-6%
Finding Talent-6%
Location or Logistical Issues-
1%
What is the biggest obstacle your organization has overcome to date?
MBE Survey
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What is the biggest obstacle your organization has overcome to date?
“Other” Responses:
Building relationships with large corporations. Economy issues 2 major frivolous lawsuits None Pricing Competitive climate not necessarily
competition Having the MBE portion of the bid being
waived out by City Council Technology Issues Stemming from Power
Outages and Email Viruses Finding Qualified Employees at Reasonably
Competitive Salary
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What do you see as the biggest issue impacting your business currently?
Increased Competition-12%
Other-10%
Finding Talent-8% Internal Strategic
Decision-Making Ability-3%
Current Economic
Climate- 87%
MBE Survey
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What do you see as the biggest issue impacting your business currently?
“Other” Responses:
Getting Contracts Prime not paying invoices in a timely manner. Planning growth within the climate Growth without losing base-clients and with great
service Nothing No loans for small business owners who have
taken a downturn due to economy Funding Creating credibility
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What do you see as the biggest issue impacting your business currently?
“Other” Responses (cont’d):
Managing growth Reducing the MBE participation on
some contracts from 10% to 5% Obtaining long term business
opportunities Balancing between Work Demand and
Employee Level Large Turnovers Over coming the stigma of being a
minority company
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What are you anticipating for this year’s financial performance?
I am uncertain at this time-19%
Ahead of last year-
27%
On Track with last year-12%
MBE Survey
Behind last year –
42%
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Where do you think the company will invest the most energy in the coming
year?
Talent Acquisition & Development-8%
Other-1%
Operational Effectiveness/ Cost-cutting-22%
Business Development & Marketing- 69% *0%
Research & Development
MBE Survey
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Where do you think the company will invest the most energy in the coming
year?“Other” Responses: Survival Expansion
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How important has the minority-owner designation been to your organization’s
success?
Not at all important-18%
Somewhat Important-
32%
Fairly important-13%
Very important-
37%
MBE Survey
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Corporate MemberSurvey
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What do you see as the biggest issue impacting your business currently?
Increased Competition-8%
Other-4%
Internal Strategic Decision-Making Ability-
12%
Current Economic
Climate- 77% *0%
Finding Talent
Corporate Member Survey
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What do you see as the biggest issue impacting your business currently?
“Other” Responses:
Consumers are changing out what they purchase, when they purchase and if they purchase. Our decisions to some degree are results of customer behavior.
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What are you anticipating for this year’s financial performance?
On Track with last year-31%
I am uncertain at this time-15%
Ahead of last year-12%
Corporate Member Survey
Behind last year – 42%
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What is the most important criteria your organization considers when selecting
minority vendors?
Quality-
54%
Other-27%
*0%
- Size
- Year in business
- Relationship Management
Responsiveness-4%
Location-4%
Price-12%
Corporate Member Survey
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Where do you think the company will invest the most energy in the coming
year?
Research & Development-19%
Operational Effectiveness/ Cost cutting-
65%
Business Development & Marketing-12%
Other-4%
*0%
Talent Acquisition & Development
Corporate Member Survey
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How important is it for your organization to use minority-designated vendors?
Very important-
69%
Fairly important-27%
Slightly important-
4%
*0%
Not at all important
Corporate Member Survey
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Opportunities During a Recession
• It causes you to get more creative.• It forces you to make the tough
decisions.• It thins out the competition.• It makes it easier to abandon business-
as-usual.• It brings you back to the basics.• It causes you to be less wasteful.
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Turning Obstacles into Opportunities