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Coca-Cola remains committed to its diversity, equity, and inclusion (DEI) initiatives, saying that neglecting these efforts could do more harm than good for its business. According to Business Insider, Coca-Cola’s annual filing states that fostering an inclusive workplace culture is “critical” to its growth and success. “Our diverse, high-performing global employee base helps drive a culture of inclusion, innovation and growth,” the company stated. “We aspire to develop a global workforce with diverse perspectives, experiences and backgrounds that reflect the broad range of consumers and markets we serve around the world.” Coca-Cola warned that failing to entice and retain this specialized top-tier talent could lead to negative consequences for its growth and future success. The company added that it remained committed to “providing access to equal opportunities and fostering belonging both in our workplaces and the local communities we proudly serve,” saying the opposite could...
February marks a pivotal moment in Black history, and one town in Maryland is celebrating with a record number of Black-owned businesses . Princess Anne, located in Somerset County, MD, and serving as its county seat, now boasts at least 25 Black-owned businesses in its town of fewer than 4,000 residents, according to WBOC-TV. “When I first moved to this area, I was told that the last known lynching was in Princess Anne, Maryland,” said business owner Leslie Coker, reflecting on the past. “That there is now 25 Black-owned businesses in a county that has less than 4,000 people, that’s phenomenal.” Coker runs the Dynamic Divas majorette dance company, one of the Black-owned businesses contributing to Princess Anne’s record-breaking milestone. Alongside Croker, business owner Dale Parker runs the Cropa Station restaurant with his partner, while Danae Ballard launched her salon, Alluring Looks by Danae, at just 21 years old. They all take pride in being part of a community representing...
A Michigan-based venture capital fund focused on investing in businesses owned by people of color has joined forces with a renowned investment firm, paving the way for expanded growth and a more significant impact for both organizations. According to Crain’s Grand Rapids Business, the New Community Transformation Fund has partnered with Michigan Capital Network, which will manage fund’s, daily operations, and offer strategic guidance. Discussions between the two Grand Rapids firms began months ago. Paul D’Amato, CEO and managing director of Michigan Capital Network, said it “made sense” for both organizations from the start of the process. “We share their goal of creating access to capital for people of color because we know that business growth, entrepreneurship and capital investment strengthens our economy and makes our state more attractive to other businesses looking to relocate,” D’Amato said, Crain’s Grand Rapids reported. Through the affiliation, which gives the venture...
In January 2023, Wes Moore became Maryland’s first Black governor as well as the 63rd person to serve in the state’s highest seat. Since his election, Moore has proposed several initiatives that his administration believes improve the overall quality of life for the state’s residents. During AFROTECH™ Conference 2024, Nov. 13-16, Moore brought some perspectives to the Innovation Stage , joining Jeff Nelson, co-founder and COO of Blavity Inc., for a fireside chat called “Work, Wages, and Wealth: State-Led Innovation, Inclusion, and Impact.” While there he discussed navigating Maryland’s political shift after a Republican administration and how his “work, wages, and wealth” mantra drives equitable economic growth. A core part of Moore’s administration is also working to fulfill his vision of making Maryland an innovation hub. Moore and his team have been building out that innovative approach since before the most recent election results. “We’ve been battle planning no matter what the...
BET+ and Braze to Provide 1:1 Mentorship Guidance in Branding, Email Advertising, and Engagement Strategies to Select Companies through First-ever Partnership In 2023, startups founded by Black entrepreneurs in the US received less than 0.5% of venture funding, and woman-founded startups just 2.2% . To help address this imbalance, Braze, a leading customer engagement platform, has developed Tech for an Equitable Future, a product grant program. The initiative is designed to help underrepresented founders accelerate their company’s growth with the use of Braze technology, increasing their chances at securing future VC funding. The innovative initiative selects 20 startups from APAC, EMEA, and North America with founders from underrepresented backgrounds—including Black and women entrepreneurs. These businesses will receive 12 months of free access to Braze technology, as well as a range of supporting resources aimed at driving business growth and scalability. Each company will...
If you’re a fitness nut, you’re likely already aware of the El Segundo, California-based multi-level marketing company Beachbody. The company, which operates a number of affiliate entities including Shakeology and Beachbar supplements, as well as Beachbody On Demand and MYXfitness live-coaching has recently announced a major shift in their business model. The company’s new approach sees them moving full-steam ahead towards profitable growth , as they eschew their MLM framework for a more streamlined single-level affiliate program, in a bid to appeal directly to their highest-spending consumers. Essentially, this cuts out the middle man, and allows those interested in taking video courses or purchasing supplements to meet their corporate supplier right at the source. Given that the company is projected to experience exponential growth with their new streamlined approach, it only makes sense to examine Beachbody’s history, current net worth, and plan for the future. This should give...
Ambitious people can be notoriously independent, but most figures who’ve made it to the top couldn’t possibly have achieved their goals alone. Instead, political leaders, monarchs and even company CEOs have relied on teams of mentors and experts to guide them for centuries. Historically speaking, just because advice comes from a confidant doesn’t mean it will be good, but that’s why it’s so important to go over some good questions to ask a mentor when you think you’ve found your match. Like with therapy, your first connection might not be the perfect fit, but that doesn’t mean the right mentor isn’t out there waiting to guide you to new heights. Good Questions To Ask A Mentor That Might Help Outside The Workplace Most people seek out mentorship in hopes of securing their dream job, but the experts you connect with can have valuable insight that can transform your personal life too. Make it a priority to ask questions about them in the vetting process, such as why they decided to...
Rick Ross’ investment in Wingstop appears to be a wise business decision. Forbes reports that Ross’ interest in the fast-casual restaurant chain dates back to the early 2000s, but it was not until launching his music career that he became inspired to purchase a franchise. “I began having those thoughts every time I pulled up to the restaurant,” he told Forbes. “Like, ‘Yo! This is something I need to do.’” Ross secured his first location near Memphis, TN, and expanded to five locations by 2014. At that time, Ross mentioned that some of his stores saw an uptick of 50% in monthly revenue. Fast-forward nearly a decade, and Ross now has nearly 30 locations under his belt as of 2023, with some locations earning $200,000 annually, as AFROTECH™ previously reported. Moreover, across the board , Wingstop is emerging as a lucrative investment, as evidenced by its stock price climbing 1,135% since it went public in 2015, CNBC mentioned. In the past five years, its stock prices have surged 262%;...
Artificial intelligence (AI) can sometimes seem unpredictable and even scary, but Cliff Worley wants to help business owners understand how it can help them take their companies to the next level. Worley stresses the importance of taking the time to learn AI tools rather than immediately running away from the ever-evolving technology without ever attempting to understand it . As an accomplished marketing leader and growth advisor to startups, he has an affinity for helping entrepreneurs elevate their businesses. Worley is on a mission to do so by teaching them how to use AI to the advantage of the business they’re looking to grow and scale. View this post on Instagram A post shared by AFROTECH™ Conference (@afrotech.conference) Currently, Worley is the head of portfolio growth marketing at Kapor Capital. He provides strategic coaching to venture capital-backed companies on how to effectively go to market and scale customer acquisition. He also curates a newsletter called “Cliff...
In the evolving business and technology landscape, innovation is a major marker of progress. However, ideas are often obstructed by hurdles that challenge the expansion of creativity. As organizations strive to pioneer new horizons, they frequently grapple with a phenomenon known as the “innovation stall.” Innovation stalls occur when the regular flow of creative ideas within an organization temporarily slows down or halts. This can result from factors like resistance to change, cultural issues, or resource constraints. Amidst these challenges , navigating the delicate balance between tradition and transformation becomes a crucial endeavor for organizations aiming to redefine the boundaries of what’s possible. What Is The Biggest Blocker To Innovation? Understanding the obstacles to innovation is pivotal for crafting effective strategies . Among the blockers, a prevalent one is resistance to change entrenched within organizational culture. Embracing innovation requires a fundamental...
Say goodbye to monthly one-on-one check-ins and hello to 360-degree feedback, an approach to professional growth from the perspective of multiple sources. This approach, distinct from supervisor-led evaluations, incorporates input from peers, subordinates, and external stakeholders, making it a new option for career development. But as companies learn how to implement 360-degree feedback with their team, there are specific benefits and challenges to consider. The Pros Of 360-Degree Feedback One of the notable benefits of the 360-degree feedback method is its capacity to foster enhanced self-awareness among individuals. By incorporating insights from various organizational perspectives, employees gain a full-circle view of their performance. This understanding enables them to identify their strengths and areas for improvement, promoting personal development and growth . Beyond individual assessments, the 360-degree feedback method can also contribute to strengthened team dynamics....
In 2020, Yve-Car Momperousse and Stéphane Jean-Baptiste represented Haiti on national television. The wedded couple and co-founders of Kreyol Essence made an appearance on season 11 of “Shark Tank,” according to The List. The eco-friendly beauty brand sells products made with pure Haitian Black Castor oil that promotes hair growth, healthy skin, and more.
On February 11, 2012, Whitney Houston passed away, but thankfully her legacy lives on forever. The world knows Houston as the legendary voice that sang the sweetest gospel, pop, and R&B. But as AfroTech previously reported, Houston’s sudden passing left her estate in a bit of turmoil. Most of the troubles stemmed from the nature of her $100 million artist contract — the last she signed with Sony/Arista. Celebrity Net Worth reveals that, ultimately, Houston only earned $40 million out of the total $100 million that her record company owed her. It’s important to note that record companies don’t pay out the full value of the contract upon signing — and in Houston’s case, she was in debt to Sony/Arista at the time of her $100 million signing, which made the accounting even more complicated. “An artist is paid in stages, and each payment is essentially a loan based on the success of future albums,” reports the outlet. “Whitney only ever earned $40 million of her $100 million contract but...
Black-owned businesses are out here thriving, and we love to see it. As previously reported by AfroTech, Young King Hair Care launched in more than 1,200 Target and Walmart retailers just shy of two years of becoming the destination for haircare tailored specifically for young men. Now, they are headed for the famous NBC’s “Shark Tank” and founders Cora and Stefan Miller hope that this continues the company’s growth. “Prior to filming our segment, our business was experiencing exponential growth since our launch in December 2019,” said Cora in an exclusive email interview with AfroTech. “The Sharks were very complimentary regarding the business we built. They actually even called my husband a ‘brilliant marketer,’ which as our CMO, whose professional background is all-around marketing, made him feel so proud.”