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Goldman Sachs

What

This case study examines Goldman Sachs’ global philanthropic initiative to provide 10,000 underserved women, predominantly in developing and emerging markets, with a business and management education. The programme aims to empower, educate and increase labour force participation of women in a bid to increase global economic growth. By partnering with 33 of the world’s leading universities and business schools, the firm supports flexible and short-term training programmes, resulting in business and management certificates. This training can open doors for women whose financial and practical circumstances prevent them from receiving a business education. In addition, women entrepreneurs are provided with mentoring and post-graduation support. The 10,000 Women programme works with development organisations such as Camfed and Vital Voices to better understand and address the local challenges girls and young women must overcome in order to realise economic opportunity and achieve their full potential.  The people of Goldman Sachs are encouraged to participate in the initiative through mentoring, in-class lecturing and advisory committee participation.

Why

The vision for the 10,000 Women initiative was born out of internal Goldman Sachs research highlighting the critical role education and the empowerment of women play in lifting the Gross Domestic Product of emerging markets. The report stated, “Narrowing the gender gap in employment could push income per capita by as much as 14% higher than baseline projections by 2020 and as much as 20% higher by 2030.” Empowering women could have a significant multiplier effect benefitting not only individual students, but also their families and their communities.

 

How

Through an array of partnerships with more  than 50 universities and development organisations, 10,000 women over five years will receive a business and management qualification. The programme is currently active in 16 countries on four continents. In the coming months new classes will begin in Afghanistan, Nigeria, Rwanda, India and Brazil. The courses offered provide women with the opportunity to develop specific skills such as drafting business plans, accounting, public speaking, marketing, management, and accessing capital. The firm is also funding a select number of MBA and BA scholarships. In addition, the initiative establishes mentoring and networking channels for women participants to provide career development opportunities beyond the classroom To strengthen the quality and capacity of business schools in developing nations, the firm has helped facilitate partnerships with business schools and universities in Europe and the United States including London Business School, INSEAD, Cambridge, Harvard, Columbia and Wharton. The Collaboration has helped to train professors, exchange faculty staff, develop curriculum, and create locally relevant case studies. Women scholars in the programme are also paired with mentors from Goldman Sachs.

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Goldman Sachs

10,000 Women Programme

Contact: Noa Meyer,
10,000 Women Programme Manager,
Offi ce of Corporate Engagement
Email: noa.meyer@gs.com

 

Impact

The firm has worked with experts in social impact measurement to ensure that the initiative’s impact can be proven.  Measurement involves tracking the number of graduates, small to medium-sized enterprise growth, as well as community ripple effects.

  • The initiative has proven to have a positive effect on wider communities through improved housing and health.
  • The initiative will train 2,000 professors worldwide, create 200 locally-relevant case studies, and improve the capacity of education for men and women for many years to come.
  • The programme has engaged, excited and motivated Goldman Sachs employees.
  • This evidence of impact underscores that, as described by World Bank Managing Director Ngozi Okonio-Iweala, “10,000 Women is not a programme, it is a movement