Rachel Wimberly
Rachel Wimberly is Executive Vice President of Business Development at Tarsus Group, US. Follow her on Twitter @TSNN_Rachel.
Having a Growth Versus Fixed Mindset in Trade Shows and Events
September 2, 2022
Our 9-year-old just started her 4th grade year, and in the welcome folder from her teacher there were a few sheets of paper that encouraged parents to help their children develop a ‘Growth Mindset’ verus a ‘Fixed Mindset’.
I know these terms have been around for a while, but reading through everything again, it struck me that the two mindsets are exactly what we should be considering when leading teams in the events industry.
We all know the past few years have been beyond challenging. We didn’t even know for a while if we would have a business to come back to with events completely shut down in the worst of times in the pandemic.
There was, and still is, a lot of fear around how our industry is going to continue forward in the face of inflation, a possible recession and events not only still getting back to live, but also regaining lost ground with attendees, exhibitors and revenues.
That fear, combined with the hard day in and out work of the events industry itself, could easily drive someone into thinking with a Fixed Mindset when a Growth Mindset is needed now more than ever.
According to one of our daughter’s papers, a Fixed Mindset does the following:
- Avoids challenges
- Gives up easily
- Ignores feedback
- Becomes threatened by other people’s success
- Tries hard to appear as smart or as capable as possible
Any of the above could create dysfunction from a leader or within a team.
So, what does a Growth Mindset look like? A person with this mindset will:
- Embrace challenges
- Give their best effort
- Learn from feedback
- Become inspired by other people’s success
- Be willing to learn more
For a student, it’s clear that having a Growth Mindset allows them to open their minds more to learn and excel in school, but the same attributes also could help someone be a productive and inspiring team member.
With our industry really still in the trenches and fighting its way out of a few very tough years, it’s more important than ever for leaders to consider what mindset they are in right now, as well as where each of their team members might be.
If there are 'Fixed Mindsets' in the mix, it’s time to make a change and help foster a different way of thinking, so that the entire team can succeed more effectively.
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Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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