Goldman Sachs Launches $100 Million Initiative to Teach Business to Women in Developing World

 

The Goldman Sachs Group (http://www2.goldmansachs.com/ ) has announced a five-year, $100 million initiative (10,000 women) to provide ten thousand underserved women — predominantly in developing and emerging areas of the world — with a business and management education.

Through partnerships between universities in the United States and Europe and business schools in emerging and developing countries, the 10,000 Women initiative is designed to help dis advantaged women earn business and management certificates.

The partnerships will support flexible, short-term programs for women whose financial and practical circumstances prevent them from receiving a traditional business education. A select number of MBA and BA degrees will also be conferred.

In addition to funding tuition for business and management edu cation, 10,000 Women will work with development organizations to better understand the local challenges girls and young women must overcome in order to realize economic opportunity and achieve their full potential. The initiative will also focus on building capacity by developing curricula, creating local case study models, improving the level of faculty training and exper- tise, and training faculty.

The initiative, which has been in development for more than a year, was inspired by economic research from Goldman Sachs that showed the powerful effects of greater labor force participation of women on economies and societies. In coming months, the firm plans to announce additional partnerships that will provide more business and management education for disadvantaged women in the United States.

“Those of us who champion open markets must also do our part to create more opportunity to ensure economic growth is more broadly shared,” said Goldman Sachs chairman and CEO Lloyd C. Blankfein.

“10,000 Women focuses on a critical, yet often overlooked area where we believe Goldman Sachs can use its resources and conven- ing power to help build the foundation to expand the ranks of businesswomen, managers, and entrepreneurs around the world.”

What is 10,000 Women?

Expanding the entrepreneurial talent and managerial pool in developing and emerging economies – especially among women – is one of the most important means to reducing inequality and ensuring more shared economic growth.

Launched by Goldman Sachs, 10,000 Women is a global initiative that will:

* Increase the number of underserved women receiving a business and management education
* Improve the quality and capacity of business and management education around the world

10,000 Women has six components:

* 10,000 Women Over Five Years Will Receive a Business and Management Education: Over the next five years, Goldman Sachs will support partnerships with universities and development organizations that will lead to 10,000 women receiving a business and management education. The initial partnerships will fund business and management education certificates in countries around the world. These innovative certificate programs are pragmatic, flexible and shorter term and will help open doors for thousands of women whose financial and practical circumstances prevent them from ever receiving a traditional business education. These programs will provide women with the opportunity to develop specific skills, such as drafting a business plan, accounting, public speaking, marketing, management and accessing capital. There will also be a select number of MBA and BA scholarships funded.

* Build Quality and Capacity Through Global Business Sister School Partnerships: To strengthen the quality and capacity of business schools in developing nations, Goldman Sachs will support new partnerships between business schools and universities in the United States and Europe and business schools in developing and emerging economies. Through these partnerships, the schools will collaborate to train professors, exchange faculty, develop curriculum and create local case study material.

* Establish Mentoring and Post-Graduation Support for Women Entrepreneurs: In addition to funding tuition for business and management education, 10,000 Women will seek to establish mentoring and networking channels for women and to encourage career development opportunities that will extend the benefits of the program beyond the classroom, leveraging the overall impact of their educational experience.

* Work with Leading Research and Women’s Development Organizations: Many outstanding organizations are working on the ground to give girls, young women and potential entrepreneurs a sense of their future potential. 10,000 Women will work with these organizations to better understand the local challenges these girls and women must overcome so more of them can ultimately realize their potential through access to greater economic opportunity.

* Develop Partnerships in the United States to Help Disadvantaged Women: As part of 10,000 Women, Goldman Sachs will establish parallel programs and partnerships to provide more business and management education for disadvantaged women in the United States.

* Commit $100 Million in Addition to the Time and Dedication of Goldman Sachs People: Goldman Sachs will commit $100 million over the next five years to 10,000 Women. In addition, the people of Goldman Sachs will contribute their time and expertise through classroom instruction and mentoring.

http://www.10000women.org/what.html