Certified Professional in Supplier Diversity (CPSD) Practice Test 14

A large corporation is evaluating its supplier diversity program to enhance its effectiveness and ensure compliance with federal regulations. The program currently includes a variety of suppliers, but the corporation has noticed that the participation of minority-owned businesses is significantly lower than anticipated. To address this issue, the corporation decides to implement a new strategy that involves setting specific, measurable goals for increasing the percentage of contracts awarded to minority-owned suppliers. Which of the following approaches would best support the corporation's goal of improving supplier diversity while ensuring compliance with relevant guidelines?