What is the NewME Accelerator Program?
NewME is the New Media Entrepreneurship Accelerator. The program is to speed up the development and success of minority led startup businesses. The NewME accelerator houses 8 minority entrepreneurs who want to break the mold and enter into the Silicon Valley technology realm. They also help the entrepreneurs get to know some of the big time investors in the field. Also, open the doors to some of the most successful internet households’ names such as; Facebook, google, twitter, and etc.
1. What is Google 's Dragon 's Den? How would you describe the pitches the NewME entrepreneurs gave at this event? What feedback did the NewME participants receive there? How do you think that this feedback might
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This feedback relates to the establishment and operation of a business because if a person doesn’t create a good customer service environment, meaning, employees and management, the business can fold. Then will affect the next business that resembles the first one. That business will not get the customer because they think it is the same as the other business, just based on what the person looks like.
2. Why do you think that business investor Ron Conway says it might be harder for African-American entrepreneurs to be recruited by Silicon Valley investors? What do you think these investors should do, if anything, to encourage investment in minority-owned startup companies?
When Ron Conway said it might be harder for African American entrepreneurs to be recruited into this network of technology because it is the truth. In that realm, technology is ran by whites and Asians. African Americans are seen as invisible. He says it because there is nothing else he can say. The world is predominately whites. In this environment African Americans are not taken as seriously. The investors need to broaden their investment teams to be able to find minority owned startup companies. Ron Conway says the investors are more likely to meet with someone they know, or a friend of a friend before they meet with a new entrepreneur in the realm of technology. I think they should take new entrepreneur meetings
Nicole Barde, a network manager for Intel Corporation, says, “We view diversity as one of our major competitive advantage, It allows us to understand global markets and the need of our customers.” (Shaw & Barry, 2013, pg. 557). Today, four-fifths of those entering the workforce are either a minority or immigrants. Affirmative action allows corporations to benefit from a diverse pool of talent that they can recruit from. With the number of minorities in this country increasing, with the globalization of our corporate environment, it stands to reason that the future of Corporate America will be a diverse one.
In an effort to increase diversity in certain job fields and corporations, companies will primarily look at historically black colleges and universities first. At a finance panel at Howard University’s school of business, a black MIT grad stated how her twin sister, who attended Howard, got more job offers than she did. There is a misconception that historically black colleges and universities lack proper training and job preparation. This most likely stems from people still believing that only white people are capable of success or teaching other people success. HBCU’s provide opportunity to students who may not have been exposed to those opportunities’ otherwise. Looking at graduation rates at non HBCU’s, black students at PWI’s have a lower graduation rate compared to their white counterparts(npr.org). When it comes to diversity most people assume diversity in color but there are more ways for places to be diverse. There is a lack of diversity at PWI’s when it comes to race, culture, and most importantly socioeconomic
According to Templeton in BlackEnterprise, "Almost half the states recognize the dramatic shortage of capital and have created targeted loan programs for black and/or minority businesses. Yet only 2% of SBA loans go to African American firms.The same ratio holds for federally-financed transportation spending and for federal procurement."
Q&A: Based on the material covered in this chapter what questions would you ask the firm’s founders before making your funding decision? What answers would satisfy you?
Black Wall Street was one of the most prominent displays of African American economical accomplishment and standing of the modern world in spite of the fact that American culture as a whole wasn't, and still isn't, supportive or conducive to the rise of minorities. The unprovoked hostility isn't new, but it is dangerous because it accommodates the behavior that is responsible for systematic discrimination and is the reason why were are permanently relegated to second class and seemingly destined to fail. The fact that this injustice is rationalized, accepted and ignored is the precise reason that African American ownership and community sustainability is vital in correcting the misrepresentation of us to the rest of the the world and continuing
In my research on non-profits, I have found there have been many reports and studies about the racial makeup of the non-profit sector. In these findings, it is common to see the demographics not keeping up with the changes in the population. (State of Diversity in the Nonprofit Sector, 2015) According to the U.S. Census, approximately 30 percent of the population is comprised of people of color, a figure that is expected to grow to 50 percent by 2042. The Hispanic/Latino population is one of the fastest growing minority groups, currently representing 15 percent of the overall population. (US Census Bureau) Within the next five years, more than 43 percent of new applicants to the workforce will be people of color. (Employment Outlook 2006-2016, U.S. Bureau of Labor Statistics) There is a great need for non-profit organizations to reflect the diversity of the areas they serve. I find a significant disconnect exists between Timely’s values, beliefs and mission. I hope to help them understand the importance of racial diversity, and proactively work towards increasing diversity within their organization.
According to statistics, affirmative action programs have fueled the fire behind the income, promotion, and labor force participation of women and minorities. For example in 2001, Minority owned businesses were growing at a rate of 17% per year, that is six times the growth rate of all firms nationwide; Women owned businesses totaled 9.1 million, generated $3.6 trillion in sales and employed 27.5 million workers (Minority Business Challenge, 2002).
Surveys, feedback forms and other data collection techniques are all ways in which a company is able to determine the customer experience and analyse any customer service performance dat. Once any data has been collected it must be analysed in a way that can provide feedback to the company in such a way that action can be taken as a result. For many companies this will be a continuous cycle of improvement
As it relates to my chosen entrepreneur, Mark Cuban experiences the rise of new businesses on a regular basis. He is one of the main cast members on the show ‘Shark Tanks’, where a group of successful business leaders listen to new self-starters promote their ideas in hopes of a loan from one of the “sharks”. The show itself has helped inspire many American entrepreneurs to come up with new ideas.
The senior executives of the Sunrise Senior Living corporation, to include the Chief Executive Officer, Chief Financial Officer, and Chief administrative Officer, are all White males. The remaining fifteen key corporate leaders consist of 67% White males and 33% White females. The leadership structure within Sunrise at Fair Oaks is more diverse and consists of seven people; four males and three females. One of the male leaders is African American and another is Asian. The Executive Director, whom I discussed some of my facility reflections with on Sunday, April 23, 2017, is a White forty-something male. Beyond the key leaders, the workforce at the local facility is very diverse. There are approximately 100 employees. Minority
Now, some people may say the strikingly low levels of minority and women representation is because we do not have enough women and people of color applying for the job in the tech sector. The so-called
Amidst the angry commotion of a Confederate flag rally at UNC’s controversial Silent Sam statue, one man’s voice gave pause to both ends. This man, the apparent leader of the pro-Confederate group, was African American. His atypical account of why the statue should remain touched on values he attributed to both his upbringing and his identity. Despite our vicarious attempts to understand the range of people’s backgrounds, there is no substitute to directly working with them. Diversity within a company is integral to innovation, for people of different cultural perspectives bring unique approaches to challenges at hand. Creating an environment in which people are empowered to speak up, improves the team’s productivity and well being. All companies invest heavily in recruiting the best people, but have only recently recognized the benefits of diversity and acted upon the faults in their recruitment criteria. To me, this delay to act is surprising.
With the “management centric” concept that is core strategy would be identify and recruit top level ethic minority managers from fortune 1000 companies to run and add value to his fund’s investments.
Harvard Business Review September, 1996 / October, 1996 HEADLINE: MAKING DIFFERENCES MATTER: A NEW PARADIGM FOR MANAGING DIVERSITY BYLINE: by David A. Thomas and Robin J. Ely; David A. Thomas is an associate professor at the Harvard Business School in Boston, Massachusetts. Robin J. Ely is an associate professor at Columbia University 's School of International and Public Affairs in New York City. Their research and teaching focus on the influence of race, gender, and ethnicity on career dynamics and organizational effectiveness. ABSTRACT: MAKING DIFFERENCES MATTER: A NEW PARADIGM FOR MANAGING DIVERSITY DAVID A. THOMAS and ROBIN J. ELY Diversity efforts in the workplace have been undertaken with great goodwill, but, ironically, they often
Large data-set studies have an obvious limitation: they only show that diversity is correlated with better performance, not that it causes better performance. Research on racial diversity in small groups, however, makes it possible to draw some causal conclusions. Again, the findings are clear: for groups that value innovation and new ideas, diversity helps.