Equity in Business
The United States is facing a racial wealth gap that has existed for over 330 years. But at the same time, businesses run by systematically excluded communities of color (Asian-Indian, Asian-Pacific, Black, Hispanic, and Native American) still contribute nearly $400 billion to the U.S. economy, even though these communities face barriers to information, capital, and contracts. Hosted by the National Minority Supplier Development Council (NMSDC), this podcast channel explores how growing minority business enterprises (MBEs) is central to not only addressing the racial wealth gap but also creating a stronger, more resilient society for all.
Equity in Business
Celeste Warren, Merck VP, Shares How DEI Drives Business Success and Fuels MBE Growth
This NMSDC Equity in Business Podcast episode features Celeste Warren, Vice President of the Global Diversity and Inclusion Center of Excellence at Merck, a leading biopharmaceutical company. Celeste is responsible for advancing and embedding diversity and inclusion across the organization to enhance the employee experience and drive business performance.
Celeste's passion for diversity, equity, and inclusion (DEI) was ignited during her childhood. Her father, the first Black principal at a public school in Western Pennsylvania, often shared stories during their family “Kitchen Table Talks.” These conversations highlighted his challenges and how he overcame them to ensure equal access to education for all. As a result, DEI became deeply ingrained in Celeste’s values.
During the podcast, Celeste emphasized several critical points about the importance of DEI:
- One of the most significant challenges for MBEs is that many people remain unaware of the importance of DEI.
- Merck is dedicated to fostering a globally diverse workforce that emphasizes belonging, engagement, equity, and empowerment—enabling employees to fulfill their mission of saving and improving lives. These evidence-based practices are universally applicable.
- Celeste described the NMSDC as a "Godsend" for MBEs, offering a sense of community where they can learn from one another, network with corporations, and unite to defend against current challenges to DEI.
- Successful MBEs are vital to the growth and strength of the American economy.
- She is committed to partnering with the NMSDC and engaging Merck’s leadership to advance DEI initiatives. Merck has set an aspirational goal to spend $4.4 billion with MBEs by 2030. Additionally, Celeste aims to support MBEs through educational programs (e.g., partnerships with institutions like Drexel University), awareness of Merck’s initiatives, and advocacy for self-empowerment and collaborative learning.
- Addressing inequities in capital access for MBEs requires intentional dialogue at NMSDC forums and among venture capital groups. As Celeste noted, “They speak the same language,” and these conversations can foster greater access to resources.
- Celeste urged MBEs to persist in the fight against DEI threats and amplify the immense value MBEs bring to the American economy.
Guest:
Celeste Warren, Vice President, Global Diversity & Inclusion Center of Excellence, Merck
Host and Production Specialist:
John G. Daniel is a believer, advocate for underserved communities, and published writer, with vast transformative leadership experience in the energy sector, economic development, hurricane recovery, and youth/community education and empowerment. Itoro Umontuen
About the National Minority Supplier Development Council (NMSDC):
Founded in 1972, NMSDC is the longest-operating business growth engine for the broadest group of systematically excluded communities of color (Asian-Indian, Asian-Pacific, Black, Hispanic, and Native American), and our impact goes far beyond the supply chain. It’s about upward mobility for the emerging majority of Americans, an equal shot at participating in the American experiment of free-market capitalism and entrepreneurship. Our work is about correcting the unequal access to wealth-building opportunities. For more information, please visit nmsdc.org.
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