MBA Program Hosts Guest Session on Digital Economy Strategy

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YEREVAN, Armenia — On February 9, 2022, the American University of Armenia (AUA) Manoogian Simone College of Business and Economics (CBE) Master of Business Administration (MBA) program organized a guest session titled Developing a Digital Economy Strategy for the SME Segment.

Within the framework of the Managing People and Organizations course, MBA Program Chair Dr. Mane Beglaryan hosted two experts: lead of digital strategy at Info-Tech Research Group Jack Hakimian and intellectual property attorney Sarkis Knyazyan, a professor in the Master of Laws (LL.M.) program who served as the key liaison with Hakimian. Both are currently on a special assignment advising the Ministry of Economy of the Republic of Armenia in developing the digital economy pillar of the national strategy. Their objective is to focus on small and medium-sized enterprises (SMEs) in drawing a sector-specific Digital Transformation roadmap for those industries that are significant contributors to the national GDP.

Hakimian spoke to the students about the concept of Digital Economy detailing the structures, partnerships, and policies necessary for developing a favorable ecosystem for digital transformation. He also outlined the expected benefits from such transformation to the local economy, expanding on the enabling factors that would develop the digital economy and the role the Armenian government could play in that process. 

The content covered in the session duly aligns with the course topic, Managing Under Uncertainty in a Global Context: Dynamic Capabilities and Organizational Agility. The students applauded the opportunity and concurred that this offered them the unique opportunity to learn about efforts currently underway for achieving digital transformation and supporting small businesses in expanding their digital competence in order to actively participate in the digital economy. 

Given the expansion of economic globalization and the continuing emergence of trans-national trade resulting from lower barriers to trade and consumer taste convergence, a more global mindset is necessary to navigate the evolving landscape. This phenomenon also challenges firms to constantly revise their business models in order to enable higher engagement in e-commerce and scale up to internationalization, thereby allowing SMEs to operate and compete in markets previously inaccessible to them. 

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.