The marketplace is becoming less about the business defining the individual and more about the individual defining the business.
Irvine, California (PRWEB) April 06, 2015
Glenn Llopis Group (GLG), a nationally recognized thought leadership, human capital and business strategy consultancy, has announced that it is holding an Executive Summit to help prepare America’s business leaders for the cultural demographic shift. The invitation-only one day summit, sponsored by CVS Health, will be held on June 11, 2015 at the Marriott Hotel in Irvine, CA.
The cultural demographic shift is happening at a time when the marketplace is becoming less about the business defining the individual and more about the individual defining the business. As such, the Total Market approach that companies have relied upon is not sufficient to address the cultural shift, as organizations must start to consider more the unique needs and the influence of cultural values on its diverse consumers, its talent pipeline, and its entire supply chain.
According to GLG, U.S. leadership does not act now to prepare for this cultural shift, the organizations they serve will continue to fuel an “identity-crisis” amongst their diverse, multicultural employees, clients, partners and consumers. Until their diverse needs and unique ways they think, act and are motivated are better understood and addressed by American businesses and brands, the cultural demographic shift cannot deliver their full potential at work nor can they contribute their full purchasing power in the marketplace.
“One size doesn’t fit all anymore,” according to GLG Chairman Glenn Llopis. “The cultural demographic shift is about how corporations create specific growth strategies in support of the changing face of America. The unique needs of Hispanics, African Americans, Asians, etc. are influenced by their cultural values and heritage, and this will require brands to become more culturally competent to authentically engage and build relationships with consumers and attract and retain top talent.”
The cultural demographic shift will require a new approach that impacts companies and their leadership, operationally and strategically. According to the Selig Center at the Terry School of Business at the University of Georgia, the multicultural economy is estimated to reach $4.2T by 2019. For America’s corporations, this represents the last true remaining growth opportunity and U.S. economic development is dependent upon it.
“This is not just about diversity management – but how business models must adapt to growth by seizing opportunities for their products, services and talent needs through a cultural lens that embraces diversity of thought,” says Llopis.
At the Executive Summit, C-suite and senior executives will learn new strategies for growth and the opportunities that the cultural demographic shift offers to better compete in the global marketplace. Keynotes, roundtables and interactive breakout sessions will focus on three vital areas: Workplace/Workforce; Strategic Partners/Supply Chain; and Marketplace/Consumers. Key takeaways will enable participants to identify opportunity gaps, convert them into new revenue and sustainable growth, operationalize the shift by defining strategies and solutions, and lead the shift by maximizing the performance of employees, brands and partnerships.
At its core, the cultural demographic shift is about change management and learning how to create the ideal ecosystem and corporate business models to maximize the full potential of the organization. Doing so will start to alleviate the tension points in business and consumer relationships as brands start to authentically engage and embrace differences in people to propel creativity, innovation and initiative. These will be core topics of discussion during the summit, as will be the strategic implications of cross-cultural intelligence, creating distinction and thought leadership through the sharing of best practices, and enabling growth by winning the war for diverse talent and the trust and loyalty of the new American consumer.
“The cultural demographic shift is what happens when a large cultural segment of the population reaches a critical mass,” concludes Llopis. “That critical mass changes everything. This shift will change everything about how a company does business, including the way its leaders plan for future growth, allocate resources among capital decisions, train and develop their entire workforce, view new product and service opportunities, define effective workgroups and organizational teams, and evaluate external partnerships and strategic alliances. Today’s multicultural employees and consumers are ready to commit their full potential, purchasing power, trust and loyalty to organizations and brands that are ready to commit to them.”
For more information, please visit http://www.glgexecutivesummit.com and/or contact Annette Prieto-Llopis, Vice President of Client Relations at annette(at)glennllopisgroup(dot)com or call 949-387-2609. To learn more about the speakers visit http://speakers.glgexecutivesummit.com/