BAB Capstone Course Deemed a Great Success
5 min readYEREVAN, Armenia — The American University of Armenia (AUA) BA in Business (BAB) program senior students successfully completed their Capstone course in Spring 2021, the culmination of their four-year undergraduate studies.
The BAB program provides students with different options for completing their Capstones: Honors Thesis, Business Simulation, or Consulting Project. Each of these options is intended to help students make an intellectual contribution to their chosen field and provide a unique self-directed opportunity for learning and growth.
As one of the thesis supervisors, AUA Assistant Professor Dr. Gurgen Aslanyan explains: “The capstone thesis is a unique opportunity for the students to try themselves in the art of persuasion. Thesis writing requires synthesizing all the knowledge acquired during the studies to analyze the topic of their choice. During this time students appreciate the knowledge they have gained in four years and recognize the gaps in their knowledge that they fill very fast. Further, it is the first step in the business of research that some students end up doing in their careers. Some of them develop that interest while writing the thesis, some know it from the beginning, some realize that they do not want to pursue that as a career in the future but take on the art of combining scientific rigor with creative thinking.”
In 2021, the Capstone Business Simulation course was revamped in order to encompass the recent economic developments in Armenia and the region in the aftermath of the 2020 Artsakh War. In particular, the team of instructors, Associate Professors Dr. Aleksandr Grigoryan and Dr. Knar Khachatryan developed an original pedagogical approach to impart the knowledge and skills required for business cooperation with cross-border conflicting countries. The development of EMPORIA business simulation was carried out with the support of the Eurasia Partnership Foundation in Armenia within the scope of the EU-funded program. EMPORIA business simulation was developed by using business and economic theories and concepts to mimic real-life trading among textile manufacturing companies from Armenia, Turkey, Russia, and China. The simulation model incorporates tackling market shocks, shocks from the impact of COVID-19 on demand, the ban of imports of Turkish origin to Armenia, and other factors. The simulation also considers the production-distribution processes of these businesses, as well as the different economic conditions of the respective countries that would create opportunities for working together through negotiation and cooperation. The principal dimension of EMPORIA lies in the importance of negotiation when dealing with firms from different countries. In Spring 2021 there were 27 groups of students involved in the Business Simulation.
As the supervisor of the Capstone Consulting Project, Karen Sarkavagyan, AUA lecturer and industry liaison, shared his thoughts on the project implementation process: “The Capstone Consulting Projects are the hallmark of the graduation phase for senior students in the BAB program. AUA places a huge accent on experiential learning and project-based learning, and the Capstone Consulting Projects are a perfect reflection of those. Because the project scope and deliverables are carefully designed together with the respective client representatives, student teams generate a product that is actionable, and almost always highly relevant. This year’s collaboration with Coca-Cola HBC Armenia was especially fruitful.”
BAB Student Testimonials
Some of the BAB students who completed their Capstone course in the Spring 2021 semester shared their impressions on the impact of the course on their education and the work process itself:
Founded in 1991, the American University of Armenia (AUA) is a private, independent university located in Yerevan, Armenia, affiliated with the University of California, and accredited by the WASC Senior College and University Commission in the United States. AUA provides local and international students with Western-style education through top-quality undergraduate, graduate, and certificate programs, promotes research and innovation, encourages civic engagement and community service, and fosters democratic values.