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Copyright © 2010 WEConnect International, Inc., All Rights Reserved Presentation by Virginia Littlejohn, CEO and Co-Founder of Quantum Leaps, Inc. and Co-Founder, WEConnect International 23 November 2010 NASSCOM Summit, Bangalore, India
Copyright © 2010 WEConnect International, Inc., All Rights Reserved Mission Facilitate sustainable economic growth by increasing opportunities for women-owned businesses to succeed in the global value chain. Vision We envision a world where global value chains benefit from the full participation of women-owned businesses; where corporations, entrepreneurs, governments and NGOs collaborate to ensure inclusive and sustainable economic development. 2
Copyright © 2010 WEConnect International, Inc., All Rights Reserved History Quantum Leaps and leading multinational corporations that are members of the Women’s Business Enterprise National Council (WBENC) in the U.S. collaborated to launch WEConnect International as a non-profit in 2009 WEConnect International is led by an independent Board of Directors elected by and from its corporate members WEConnect International is now established in Canada and Europe, is launching initiatives in India and China, and has been invited to focus on a number of developing economies through strategic partnerships 3
Copyright © 2010 WEConnect International, Inc., All Rights Reserved WEConnect International Members Accenture Alcatel-Lucent AT&T Boeing Cisco Systems Citigroup Dun & Bradstreet Ernst & Young Exxon Mobile HP IBM Intel Manpower Marriott Motorola Pfizer PG&E Verizon Walmart 4
Copyright © 2010 WEConnect International, Inc., All Rights Reserved What is Supplier Diversity and Inclusivity? A business program that encourages the use of historically underutilized vendors as suppliers Examples of “diverse” business owners include: –Ethnic Minorities –Women –Disabled Persons 5
Copyright © 2010 WEConnect International, Inc., All Rights Reserved Why Multinationals Have Supplier Diversity Create more competitive and dynamic supply options Reduce costs and demonstrate return on investment Improve the total value of their offerings Seek out and encourage innovation Contribute to real economic opportunity in target markets Enhance their image and brand 6
Copyright © 2010 WEConnect International, Inc., All Rights Reserved Multinational Corporation Case Study AT&T is the largest telecommunications holding company in the world by revenue AT&T’s Supplier Diversity Programs promote, increase and improve the quality of the participation of small, minority, women and disabled veteran businesses AT&T spends over US$2 billion with women-owned companies each year—and can trace several hundred contract wins to its supplier diversity program AT&T values the innovation, cost savings, and quality of service it receives from diverse businesses 7
Copyright © 2010 WEConnect International, Inc., All Rights Reserved Supplier Diversity Trends 97% of the Fortune 500 corporations in the U.S. have programs to source from diverse suppliers 80% require first and second level suppliers to report on the diversity of their U.S. suppliers 65% intend to develop global supplier diversity programs in the next 5 years These corporations are starting to ask vendors to source from innovative new suppliers and report on that “spend” 8
Copyright © 2010 WEConnect International, Inc., All Rights Reserved Why Women? According to The World Bank, women-owned businesses represent 25-33% of all private businesses in the world Women do 66% of the world’s work, receive 10% of the world’s income, and own 1% of the means of production Women make 70% of purchasing decisions in the home so their impact on value chain creation is key Women represent 50% of the world’s population, but they are almost invisible in the global value chain as suppliers to corporations and governments 9
Copyright © 2010 WEConnect International, Inc., All Rights Reserved Certification Standards Certification – confirmation that a business is at least 51% owned, managed and controlled by one or more women Ownership – at least 51% ownership of the company is held by one or more women Management – the company is led / managed by a Principal Executive Officer who is a woman Control – the key business decisions regarding the company’s finances, operations, personnel and strategy are made by a woman Certification is not evidence of size, quality or sustainability 10
Copyright © 2010 WEConnect International, Inc., All Rights Reserved Certification Process Self-register on WEConnect International Global Portal Apply and pay for certification on Portal Certification lead from portal sent to local service provider Service provider conducts site visit and document review Site visit and document review results sent to WEConnect WEConnect issues certification if applicant meets criteria Certified business have access to the global knowledge and networks offered by WEConnect International 11
Copyright © 2010 WEConnect International, Inc., All Rights Reserved Impact Potential – WEConnect International’s global network spends over $700 billion on products and services per year Vision – WEConnect International has the power to influence at least 1% of that global spend Result – $7 billion can be available to women owned businesses that are able to compete for contracts Collaboration – The success of this global effort will depend on a high level of collaboration and local support 12
Copyright © 2010 WEConnect International, Inc., All Rights Reserved 13
Copyright © 2010 WEConnect International, Inc., All Rights Reserved Contact www.WEConnectInternational.org 14
WEConnect International India Initiative NASSCOM Summit on Diversity & Inclusion 22 November 2010.
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