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Diversity: An Imperative for Business Success The Diversity Business Imperatives suggest that building in America's new multicultural century requires that successful companies begin to include a strategic multicultural perspective into their overall business planning process, and develop a strategy to address such pressing questions as:

Diversity Issues: Becoming "Employer of Choice"
How well have we done in recruiting the best and brightest diverse candidates? Are diverse employees represented at all levels of our company? How well do we retain our diverse employees?

Marketing Issues: Being a "Preferred Brand"
Are multicultural Americans more or less likely to purchase in our product categories?
How do they perceive our brands? Does our advertising and overall marketing communications reflect these consumers in culturally appropriate ways? How are our competitors addressing these consumers? What is our business opportunity with the multicultural marketplace? What are the underlying economics? Specifically who are our multicultural target customers and why? How unique is the opportunity? How can we leverage our existing infrastructure? What is the optimal go-to-market approach? What is the ideal operating model/organizational design (people, process, systems)? What is my expected ROI?

Did you know that Multicultural Americans are the Fastest Growing Market?

Large and Growing:
Hispanic, African-American, Asian Pacific American populations are growing at seven times the rate of the general market. They are almost 30% of the population today and by 2040 will comprise over 50% of all Americans. In 10 years, about half of the U.S. population under 21 will be non-white.

Burgeoning Buying Power:
Buying power has increased 50% to about $1 trillion in the past 10 years. According to the New American Market Basket Index, multicultural consumers are outspending while families on groceries, personal care products, clothing, entertainment and education. Family purchases are growing faster than whites in 10 of 13 "market basket" categories including new cars and healthcare.

Gaining the Means to Prosperity:
According to the Multicultural American Dream Index, ethnic Americans are accessing the means to prosperity-increasing household income, obtaining mortgages, owning small businesses, earning college degrees at a rate that is increasing more than three times faster than whites.

Easy to Reach, Responsive, Loyal Customers:
Culturally relevant creative running in ethnic media has been shown to be twice as effective in selling to ethnic Americans. These customers have greater brand loyalty and are willing to pay more for the best.