Hispanic Business

Though the economy seems to be sliding ever closer to a recession, current numbers released by the US Department of Commerce do not yet confirm it. The economy outperformed estimates and grew at a rate of 0.6 percent for the first quarter of 2008, and has not yet shown a decline in growth for two consecutive quarters, the textbook definition of a recession.

Research shows that out of all American minority groups, Hispanics are the most likely to risk starting their own business. Entrepreneurship among Hispanics is expected to continue growing at least through 2012, solidifying the integral role that Hispanic-owned businesses play in growing the US economy and creating jobs.

About 25 percent of the companies that exist today will disappear within the next decade, either because they will merge with others or go bankrupt.

In an interview with Universia-Knowledge@Wharton, Chris Zook, director of global strategy at consulting firm Bain & Co., discussed the key factors that will allow companies to survive the challenges of increasing their presence in the global marketplace.

His ideas are presented in a book titled, Unstoppable: Finding Hidden Assets to Renew the Core and Fuel Profitable Growth.

Universia-Knowledge@Wharton:

A lot goes into the process of finding diverse and highly qualified candidates during the hiring process.

Applying creativity and a pro-active effort, and using traditional and non-traditional recruitment approaches can go a long way in finding a high quality candidates from a diverse pool.

The Environmental Protection Agency looks to a variety of Hispanic-serving colleges and universities gives to access a diverse pool of candidates.