BAB ’18 Seniors Take Part in Business Capstone Project
YEREVAN, Armenia ‒ On March 17, 2018, over 150 undergraduate students pursuing the BA in Business (BAB) degree at the American University of Armenia (AUA) had the culminating experience of their studies, the Business Capstone.
The Business Capstone project bridges the theory and skills introduced in the coursework with business practices and real-world situations. It also gives students the chance to demonstrate their knowledge and skills in and across the main functional areas of business. The business simulation, one of the main constituents of the project, is a team experience which seeks to display the students’ ability to integrate knowledge from different disciplines and to apply it to solve practical problems in complex, reality-based situations. Business simulation students are expected to work in groups to implement and thoroughly analyze business strategic decisions of their choice and present the results of their competitive and corporate strategies.
“The Capstone project delivers an excellent opportunity to hone one’s networking, negotiation and teamwork skills. It is not about earning knowledge, but rather testing it in a simulated business world, where actors embrace the importance of fast decision-making and reliable partnership. What most contributed to our team’s victory is not the faultless calculations or excellent forecasting, but rather the strong collaboration with other teams. As in real life, here too, it is not possible to win alone, as collaboration is a necessary precondition for succeeding,” said Stella Stepanyan, one of the members of the four winning teams of the project, in her testimonial.
Another winning team noted in their testimonial that through their business simulation experience they realized the importance of efficient task management and task allocation, as well as the potential benefits of persistent negotiations. “Overall, we would recommend the simulation to all the future and present business students, as it teaches the participants many lessons regarding the realistic applications of business and economic theory,” they added.
An honors thesis, which is a scholarly research paper meant to demonstrate the students’ analytical and interpretive skills, is another part of the Business Capstone project. The results of the thesis defence will be announced in mid-May.
Founded in 1991, the American University of Armenia (AUA) is a private, independent university located in Yerevan, Armenia, and affiliated with the University of California. AUA provides a global education in Armenia and the region, offering high-quality graduate and undergraduate studies, encouraging civic engagement, and promoting public service and democratic values.