AT&T awarded minorities, women record-breaking $1.5 billion in 1995 contracts.BASKING RIDGE, N.J.--(BUSINESS WIRE)--Jan. 31, 1996--In 1995, AT&T purchased more from minority- and women-owned businesses than ever before -- $1.5 billion -- and ended up achieving it's Minority and Women Business Enterprise (MWBE MWBE Minority and Women-owned Business Enterprise MWBE Maximum Welch-Bound-Equality ) program's five-year goal in two years. These accomplishments will be celebrated today at AT&T's headquarters here during the annual recognition ceremony for its MWBE purchasing program. The event is hosted by Dan Carroll Car·roll , James 1854-1907. British-born American physician noted for his research on yellow fever. In 1900 he deliberately infected himself with the disease for experimental purposes. , AT&T's chief procurement officer A Chief Procurement Officer (CPO) is an executive role focused on supply management for an enterprise. A report by Aberdeen Group shows a marked acceleration in the significance of procurement's role. , who said that in 1995, MWBE purchased goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. totaling $1.5 billion; $700 million from minorities, and $800 million from women. AT&T set its MWBE five-year goal in 1993 as part of its accelerated diversity strategy. The goal was to increase MWBE purchases by 10 percent annually. By year's end 1995, MWBE had increased purchases by 44 percent over 1994. "The strength of the MWBE program is the strategic alliances we build with our suppliers," Carroll said. "Our 44-percent increase in 1995 shows just how strong the program -- and our supplier alliances -- are." Carroll said those achievements reflect AT&T's efforts to create opportunity for minority- and women-owned businesses. "Diversity makes good business sense," he said, "which is why the MWBE program -- once confined con·fine v. con·fined, con·fin·ing, con·fines v.tr. 1. To keep within bounds; restrict: Please confine your remarks to the issues at hand. See Synonyms at limit. to AT&T's purchasing department Noun 1. purchasing department - the division of a business that is responsible for purchases business department - a division of a business firm -- is now integrated into the business plans of every AT&T division and business unit." AT&T's MWBE program was created in 1968 to encourage the growth and development of minority- and women-owned firms. It defines a minority- or women-owned business as an enterprise that is owned, controlled and operated by minority or women group members. At least 51 percent of a company must be owned by a woman or a member of a minority group. The woman or minority owner must be involved in the day-to-day management of the company and must exercise decision-making decision-making, n the process of coming to a conclusion or making a judgment. decision-making, evidence-based, n a type of informal decision-making that combines clinical expertise, patient concerns, and evidence gathered from power. CONTACT: Paula Horii (908) 204-8260 (O) (212) 228-1812 (H) OR Tricia Geoghegan (908) 204-8264 (O) (908) 873-8387 (H) |
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