Chairman's Award
The Goldman Sachs Group, Inc.
Presented to Chairman and CEO Lloyd C. Blankfein
10,000 Women is a five-year, $100 million program that is providing 10,000 underserved women in developing and emerging markets with a business and management education. The initiative is designed to foster economic growth around the world and was based on Goldman Sachs research highlighting the role that educating and empowering women plays in lifting GDP. 10,000 Women invests in the exponential power of women as entrepreneurs, managers and catalysts of social change.
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10,000 WomenCECP presents the Chairman’s Award to The Goldman Sachs Group, Inc. for its 10,000 Women program which fosters economic growth around the world. |
10,000 Women operates through a network of more than 70 academic and nonprofit partners, who develop locally relevant coursework for businesswomen who are also offered mentoring and post-graduation support by partner institutions, local businesses and Goldman Sachs people. The program also works to improve the long-term quality and capacity of business education in emerging economies.
The program has significantly impacted the lives of the participants and their communities. Through comprehensive measurement and evaluation processes, 70% of women surveyed have reported positive revenue growth, and 50% have hired additional employees since graduation. One of these women is a 10,000 Women scholar in Lagos, Nigeria. She started a catering business out of her home, that – despite demand and a growing clientele – was barely breaking even and not poised for growth. Through 10,000 Women, she learned to better manage her cash flow and identify her target client base. She has seen her revenue increase more than tenfold since graduating from the program more than two years ago – enabling her to purchase a delivery truck, acquire new office and kitchen space outside her home, and even start a restaurant. After the program, she was able to hire 10 permanent staff for her catering business, and for larger jobs, has created employment opportunities for up to 60 temporary workers. She now has plans in place to open a second restaurant, which will continue to create opportunity for her family, and for her community.
Sustainability and scalability are factored into every element. 10,000 Women is currently operating in 22 countries, and has developed innovative partnerships with the U.S. Department of State and others to strategically expand its reach, build capacity, and enhance impact. In response to the success of 10,000 Women, the firm’s leadership launched a $500 million domestic initiative, 10,000 Small Businesses, based on the model.
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