In the fall, the Kellogg School of Management and Northwestern Mutual presented Gather Against the Gap, an event that explored the racial wealth gap and its impact on social and economic growth. Dean Francesca Cornelli and John Schlifske ’83 MBA, chairman, president and CEO at Northwestern Mutual, served as co-hosts.
The one-day conference featured several Kellogg alumni and faculty sharing their expertise and research on a variety of topics. To kick off the event, Cornelli and Schlifske joined leadership development adviser Ginny Clarke ’84 MBA and others for a fireside chat about the future of work on the wealth gap. Kellogg adjunct professor Dwight Hutchins ’91 MBA, a senior partner at Boston Consulting Group, gave an inspiring keynote about research into this area and what corporations can do to make an impact.
Sessions also included James Lowry, academic director of the Kellogg Advanced Management Executive Program, providing practical guidance on supplier diversity, and adjunct professor Will Towns moderating a panel on channeling capital for Black business development. Cornelli also moderated a panel on scaling Black-owned startups, which included Vistria Group’s Susan Edwards ’10 MBA.
Throughout the conference, attendees explored how their respective organizations can commit to investing in a more diverse future and workforce. Here are a few of the top takeaways from the day:
1. Treat this as a business imperative and gains will be twofold. Ask questions, show vulnerability, and carry through that commitment in a strategic and actionable business plan. Supporting change can enhance community vitality while also generating significant returns for your business.
2. Sustained action requires sustained leadership. Leaders who consistently show up for their impact initiatives create a multiplier effect within their organizations.
3. Challenge your thinking about potential partners. Eliminate any unconscious guardrails you may have on the types of organizations meant by “supplier diversity.” Broaden that definition to “business diversity,” which includes technology, professional services and other fast-growing industries that can add value to your corporation.
4. Be transparent and intentional about tangible outcomes. When consumers understand how a company’s dollars being invested are directly having an effect on their community or issues they align with, it leads to trust, understanding and a greater connection.
Download the white paper recapping the event's key takeaways.