primary reason companies have placed an emphasis on buying from minority- and women-owned suppliers and vendors is because
A) new federal government regulations require it.
B) they can help a firm meet its objectives in sales, profits, and/or customer satisfaction.
C) it is the socially responsible thing to do.
D) it can attract new customer target markets.
E) these companies will work harder for less.

Question

Quizplus · Accepted Answer

Buying from minority- and women-owned suppliers and vendors can help a firm meet its objectives in sales, profits, and/or customer satisfaction by expanding the supplier base, increasing competition, and promoting inclusivity in the business community. While being socially responsible and attracting new customer target markets may also be benefits, the primary reason for many companies is the potential positive impact on their bottom line. There are no federal government regulations requiring this type of purchasing. The idea that these companies will work harder for less is a stereotype and not necessarily true.

Primary Reason Companies Have Placed an Emphasis on Buying from Minority-