On September 25, The Association to Advance Collegiate Schools of Business (AACSB International) and its member AUC School of Business hosted an Information Session for regional business schools on the value of the AACSB International Membership and Accreditation.

The interactive session focused on the business education landscape in Africa. The event featured Sherif Kamel, dean, AUC School of Business, Jonathan Foster Pedley, dean and director, Henley Business School Africa, and AABS board chairman, Tim Mescon, executive vice president and chief officer EMEA, AACSB International, and Ihsan Zakri, regional head, Middle East and Africa, AACSB International.

AACSB International is the world’s largest business education network connecting students, academia, and business to advance business education worldwide. It offers the world’s most widely recognized and sought-after endorsement for business programs, which the School acquired for the first time in 2006.

“We only accredit less than five percent of business schools around the world, so it is very exclusive,” underlined Tim Mescon during the information session.

"We have been in the AACSB cycle for the last 19 years, it is a journey not a destination. The process of accreditation really gets us to challenge ourselves taking the School to the next level by helping us remain relevant, timely, ambitious and future-oriented,” highlighted Dean Kamel.

The accreditation is a stamp for all stakeholders that the accredited school produces graduates who are prepared to succeed in the business world.

“It is not about being the biggest school, it is about being the quickest. What matters for business schools is not size, but agility to respond to the constant change in the world,“ explained Mescon.

The session explained how a business school’s effort in student engagement, its constantly updated curricula, its societal impact and how that is reflected in its research, as well as its mission statement, among other criteria, are how schools are measured by AACSB.

“There are really good business schools around Egypt, Africa and the rest of the world and they rarely come together. Education is so important to the growth of nations, and having an open discussion like that of today is what makes quality education,” stressed Jonathan Foster Pedley.

The session included more than 20 representatives from eight universities and two entities, namely AABS and AACSB. The participants had the chance to discuss their inquiries and concerns regarding the accreditation, its requirements and its procedures.

Mescon stressed on the need for professors to change their teaching methodologies. “Learning is much different today, and engagement is crucial for professors to grab and retain the attention of Generation Z students,” he stated.

“Human capital is the most important asset. If I had a button I would push investment in quality education,” expressed Dean Kamel, adding: “We need to push the ceiling to continuously improve or else we will not be resilient or agile.”

“Business schools should focus on how they can contribute to people’s growth, so they can run businesses better and lift the economies of their countries,” emphasized Foster Pedley. “We have to serve the young people and the executives and help make their lives better and we take that very seriously. It is not about us, it’s about them and the future,” he concluded.

This session fosters the School’s pioneering position in advocating for quality business education not only in Egypt, but within the entire region. It is an initiative, like many of the School’s, that aims to spread awareness about educational best practices within the community.

Find out more about AUC School of Business’ accreditations and rankings here.

“Why we are here today is why AUC has been for the last 100 years making all the difference.” – Dean Sherif Kamel.

Student, teaching assistant, research fellow, faculty, department chair, center director and associate dean; Nagla Rizk has worn all the hats there are at AUC School of Business.

The professor of economics and founding director of the Access to Knowledge for Development Center (A2K4D) has been part of the School since 1979, where she started her journey as an economics undergraduate student.

“I am proud to be a member of this institution because of people like you. You have given the institution a lot, so thank you for everything,” expressed AUC President Ahmad Dallal.

“I used to visit the AUC Tahrir Campus with my mother, the late Professor of Sociology Madiha El-Safty, as a child, way before enrolling at the university,” said Rizk at the celebration of her silver jubilee on September 13. “I started very young at the  School and I am proud to have been part of its history,” she shared.

“Professor Rizk ticked all the boxes over her tenure at AUC School of Business,” said Dean Kamel, highlighting how she has always been adapting to global changes in education.

Indeed, Rizk has developed and introduced multiple courses to the School’s Economics curriculum such as “The Digital Economy, Information Technology and Economics”, “Undergraduate Econometrics”, and “CopyrightX: The Economics of Copyright and Creativity”, which is a Harvard course, where students receive a certificate from Harvard University.

“I have been visiting the AUC Tahrir Campus since I was a child in 1970. The Department of Economics has been my home since a very young age,” expressed Rizk, adding: “Even when I went to Canada for my PhD, I still kept close contacts with the department.”

Rizk shared her feelings about being celebrated by the School: “I am grateful and honored. I feel at home.” She added: “As the Department of Economics celebrates its 75th anniversary, I am proud to have been an active part of one third of its history, and to have studied and worked with an incredible community of people including icons like Professors Adel Beshai, William Mikhail and Galal Amin. I have learned from each and everyone I engaged with throughout this journey.”

These heartfelt comments were followed by her plans for the next 25 years: “I am just going to continue doing what I am doing – work hard, maintain  high standards, explore  new ventures, ensure constant development and give back to the department and the School through my teaching, research and service.”

When asked about A2K4D, Rizk explained that the center was born out of her “firm belief in the role of knowledge and technology for the betterment of human lives in the context of a dynamic world powered by the internet and fast-evolving digital technologies, and the complex implications of all this for developing countries in particular.”

“We should be at the forefront of issues happening worldwide,” she explained. “Our role as Egyptians, Arabs and Africans is to bring the voice of our part of the world to inform global conversations on these issues, not as observers but as active contributors to shaping the narrative,” she stressed, demonstrating how the center has partners in various parts of the globe to help fulfill this purpose.

“This is what A2K4D is about,” she stated.

Rizk emphasized the link between research and teaching, and that teaching should draw on theoretical underpinnings to tackle timely issues and explore current contexts through practical examples that students can relate to.

Nagla Rizk has been and will continue to play a vital role in the development of AUC School of Business, whether through her academic contributions – her teaching and research – or through her internationalization and outreach efforts, where she was able to secure over three million dollars in grants and gifts to support research at A2K4D and the School. Furthermore, Rizk has represented the School in multiple fora around the world, and hence, helped expand our reach on the global stage, especially in the realms of access to knowledge, intellectual property, innovation, technology, the future of work and gender.

Thank you, Professor Rizk, and to many more years to come!

Since fall of 2021, AUC School of Business has collaborated with the Academy of Liberal Arts at AUC to offer a Financial Literacy course as part of freshman students’ Core Curriculum.

The course is offered as a Core 1099 course (selected topics) every semester and does not have any prerequisites. It is aimed at all students who wish to develop a basic set of knowledge about personal finance and how economics impacts our daily lives, financial markets, and institutions.

We sat down with Moataz El-Helaly, assistant professor of accounting, the first professor to instruct this course in fall 2021, who told us everything we needed to know about its curriculum.

We developed this course after thorough deliberations and discussions between the Department of Accounting at the AUC School of Business and the Academy of Liberal Arts at AUC. The curriculum blends the fundamentals of economics, finance, and accounting into a course that serves as a financial literacy program, providing students with a basic understanding of those three aforementioned fields. It also tackles how economic forces affect our daily lives.

Another core component of the course is personal finance. This component starts with an in-class activity that is designed to allow students to understand their own money habits and attitudes. Next, we move to different personal financial management and decision-making topics, such as budgeting, saving, and investment. The focus is on timely issues that are increasingly gaining attention and that are directly related to our daily lives, such as the role of the central bank in the economy, money laundry, the foreign exchange market, and the stock market and how it works.

“In the School of Business at large and at the Department of Accounting specifically, we had the belief that all AUC students should be sufficiently financially literate and to have a better understanding about the financial side of the world. As future employees, business owners, parents, and adult professionals, there are several concepts that they should be able to comprehend, practice and apply regardless of their majors or their intended areas of study.” – Moataz El Helaly, assistant professor of accounting.

This initiative is a strong contribution to AUC’s liberal arts mission as it addresses knowledge and attitude, critical reading and thinking, teamwork, oral and written communication, and the interdisciplinary perspective. This knowledge is necessary for all AUC graduates, especially for students who do not intend to major in economics, finance, or accounting.

The emphasis here is on developing financial literacy and providing students with practical knowledge that can be used in managing their financial lives, understanding how economic forces affect their lives and the economy at large and developing knowledge about the financials of companies and organizations.

The course closes an important gap by providing the students with important knowledge and skills about managing their own financial lives as well as understanding how economic and financial forces affect individuals, companies, and countries, which is one of the reasons that make the course attractive to students according to El-Helaly.

As is the case with many School of Business classes, this course incorporates different elements of experiential learning. Besides regular lectures, the course incorporates various learning and assessment activities such as a final project and presentation, a personal financial consultancy task assignment, cases, and inviting guest speakers.

Matthew Hendershot, associate dean of Undergraduate Studies and Academy of Liberal Arts, reflects on the importance of this new initiative:

“We in the Core Curriculum have been delighted to partner with the School of Business and Professor Moataz El-Helaly to be able to offer a financial literacy course. Financial literacy and the Core skills learned in the course are so essential for today's world,” he stated, adding: “The collaboration in putting this course together has been exemplary, and we believe this course will be in high demand and most importantly offer students an incredible Core learning experience through and an engaging, interesting, and highly relevant course.”

So, what do students make of this program, and what is their experience learning about financial literacy at such an early stage in their university journey?

Noor Dardeer, a student majoring in accounting, said: “I have been privileged to enroll in the financial literacy course to fulfill my ‘pathways two’ requirement. This course has helped me reach a broader understanding of economics, finance, and accounting fundamentals. Throughout the course, I was introduced to various topics such as the benefits of personal budgeting, and the different types of taxes and financial instruments; as a result, I managed my finances more efficiently. The engaging presentations delivered by Professor Moataz El-Helaly and the interesting tasks that were assigned to us, among which were analyzing different financial statements, had an immense benefit, especially for students who may have not yet decided on their majors and find the business major attractive. I believe that the financial literacy course equips students with the skills they need to make more sound financial decisions.”

Another student, Mohammed Mohsen Al-Wesabi, stated: “In this course, I learned new ideas and concepts in the areas of accounting, economics, and finance. For instance, one thing I encountered for the first time was how to calculate the various forms of taxes. Writing reflections, which needed us to read and comprehend the themes which I had not yet studied, presented another challenge for me. Therefore, in order to comprehend and then summarize these topics, I did a lot of additional reading and research. During this process, I was exposed to new definitions and learned new concepts that I may not have studied in my major, such as the economic model in the first reflection, ‘Behavioral Economics’, which I wrote about. Additionally, during the semester, we conducted a lot of readings and presentations in class that might help students to grasp important tools in personal financial management such as personal budgeting.”

Interested in taking this course? Make sure you register for it next semester.

As part of its effort to expand its global reach, El-Khazindar Business Research and Case Center at AUC School of Business partners with Sage Publications, one of the most globally renowned and reputable publishing houses. The partnership will entail the listing of a collection of KCC’s case studies on the Sage Business Cases database alongside a range of highly esteemed partner universities.

AUC is currently the only university in the region to have its business case studies listed on the Sage database, allowing students, experts and academics to better understand the business landscape in the Middle East and North Africa. The partnership also serves as a catalyst that would drive continued success, growth, and impact for KCC.

As of now, a total of 25 business cases covering a wide spectrum of topics including entrepreneurship, finance, family business, responsible business, and civic engagement to name a few, originating from the center, can be found on the database with a range of upcoming cases expected to be published in the near future.

“We are thrilled with the Sage Publishing partnership, which puts KCC cases alongside cases from prominent business schools such as Kellogg School of Management, Yale School of Management, and many others,” said KCC Director Engy Magdy, adding: “This partnership is another building block in KCC’s mission to develop and disseminate quality case studies as a vital and experiential learning tool.”

Based in California, Sage’s case studies are distributed to more than 300 prestigious universities across the globe. Their library model provides unlimited case access for faculty, students, and alumni, with no direct cost to students. The publishing house takes on traditionally overlooked topics, such as immigrant entrepreneurship, sustainability, and social impact, and offers diverse perspectives through covering companies of all sizes from small, family businesses and start-ups to Fortune 500 corporations.

This partnership comes in line with KCC’s commitment to providing students and faculty at AUC as well as the surrounding academic ecosystem as a whole with superlative business case studies that are regionally relevant and globally representative.

Read KCC’s case studies on Sage Publications here.

Coming from abroad or returning to their alma mater, AUC welcomed a new cohort of around 40 faculty members this fall.

While some members are experiencing Egypt for the first time, having moved from their homes in Germany, South Korea and more, other members are turning to their alma mater. News@AUC interviewed five members of this diverse cohort on their research, their decision to join AUC, and what they are looking forward to this year.

Shaimaa El Sherif

Instilling moral values such as acceptance and respect into her students is a key part of Shaimaa El Sherif’s, instructor in the Department of Rhetoric and Compositions, goals at AUC and her research in global citizenship education. She is currently working on two research projects, one on transformative learning and teaching and another on enhancing students’ 21st century skills. 

“I found out that there is no better educational institution in Egypt other than AUC to practice teaching and researching,” El Sherif states. “Honestly, I also owe AUC much of what I've learned academically and professionally throughout the past 10 years… I felt like it’s time to give back through teaching.”

El Sherif is excited to spend the year connecting with her students and helping them to become more well rounded through different teaching strategies in addition to working on her two research projects. 

Rodrigo Gratacós Brum

Guided by his academic background in philosophy and film, Rodrigo Gratacós Brum, associate professor of practice in the Department of the Arts, is a talented filmmaker and teacher who joined AUC because of its growing film program. 

“I saw it as an opportunity to have an impact in the area, helping to develop a program that is already very strong,” Brum explains. 

Brum is looking forward to getting to know his students better and learning how he can help them develop projects based on their own experiences and interests. 

Sanghyeok Lee

After studying in Australia and teaching in South Korea, Sanghyeok Lee, assistant professor in the Department of Economics, is ready for new academic adventures in Cairo. Lee studies micro-econometric theory, which includes event history and duration analysis, machine learning and treatment effect analysis.

“I am excited to have the opportunity to develop my knowledge and skills in a new place, and hopefully to be able to contribute to the local community as well,” Lee states. 

For the next year, Lee is most excited about the learning opportunities. After teaching in Korea and studying in Australia, New Cairo presents a novel experience for him to explore as an instructor and an academic.

Mariam Abdelazim

As an architecture alumna from AUC, Mariam Abdelazim, assistant professor in the Department of Architecture, is looking forward to the opportunity to give back to her alma mater. In her research she utilizes behavioral science to explore how people interact with public spaces. As a professor, she is excited to bring innovative teaching methods to her classroom. 

 “The attention span of students is different than before, so I always rely on interactive methods of teaching,” she explains. “I ask them to make TikTok videos on a building, or Instagram posts, or we play Jeopardy and do competitions, to get them interested through the type of media they are familiar with.”

Through the next year, Abdelazim looks forward to cultivating a learning community where students can learn from each other and she can learn from them.

Noah Farhadi

With over 27 years of experience in business administration, Noah Farhadi, professor of practice in finance in the Management Department and CIB Endowed Chair, is excited to continue his academic research on strategic finance, mergers and acquisitions and business ecosystems while teaching at the AUC. 

“I think to be a good professor, you need good students,” Farhadi explained. “The students at AUC are motivated, focused and engaged. So I made my choice to move here because it's a great platform for growth.”

In the next year, Farhadi is excited to experience Egyptian culture, connect with his students and contribute to the community.