This blog is guest written by Margaret H. Greenberg and Gina Greenlee, executive coaches, organizational development consultants, and the coauthors of "The Business of Race."

If you think racism is a U.S.-only issue, think again. If you believe solving racism is best left to governments, think again. If you're under the impression racial equity is just a new twist on racial equality, think again. And if you think racial equity is just another training program to roll out, then, yes – think again.

Every society has centers of influence, such as education, religion, healthcare, and government. The workplace is another of these centers. From the industrial revolution to the digital revolution, the workplace has been where we experience change in the making.

Business leaders around the globe are now leading another transformation: creating a workplace that reflects the multicultural world in which we live.

Business Leads Change

For several decades, the global communications firm, Edelman, has conducted an annual trust and credibility study. They call it The Edelman Trust Barometer. Last year's results (of 38,000 respondents from 28 countries) found that "business," once again, is the most trusted source. Sixty-one percent of respondents said they trust business, ahead of NGOs at 59 percent, government at 52 percent, and media at 50 percent. This puts business leaders in the best position to advance racial equity in the workplace, and in turn, society.

What Is Racial Equity?

Through our own exploration, we define equity as a measure of diversity and inclusion, which together make DEI (or EDI). Neither finite nor absolute, "E" measures how and to what extent "D" and "I" are embedded into an organization’s business strategy and every business policy and practice. An organization's "E" perpetually monitors and, as necessary, recalibrates "D" and "I" to stay ahead of potential relapse and continually advance toward an antiracist workplace.

When something is a little tricky to understand, sometimes it's helpful to describe what isn't. Racial equity is not a Black Lives Matter statement on your company's website; it's not an addendum to your company's values statement; it's not checking a box for Human Resources that confirms you sponsored or attended a workshop on unconscious bias; it's not writing a check to your favorite non-profit organization. It takes more than that to embed equity in your organization.

Equity Versus Equality

We are often asked, "So what's the difference between equity and equality?" We believe that the