Short term study away – Page 5 – Global & Experiential Education

Development Through a New Lens: Impact Investing in Rwanda

bradminerJune 1, 2020November 20, 2020

Below is Nicole Carney’s (GSEHD ’20) reflection of her experience on the short-term study away program (STAP), Rwanda: Global Business Project: Impact Investments in SMEs. The course was taught by Dr. Reid Click, Associate Professor of International Business, and involved an international travel to Kigali, Rwanda during the academic spring break in 2019.

When I applied to G&EE’s short-term study away program (STAP) to Rwanda in the fall of 2018, I was just beginning my graduate career and trying to make sense of the path I was forging for myself. As a master’s candidate studying international education in George Washington University’s Graduate School of Education and Human Development (GSEHD), I was stepping outside of my comfort zone by applying to a program in the School of Business. To be honest, when I applied for the program, I did not know much about impact investing or even the necessary elements of an investment memorandum but was looking to learn and expand my skillset.

I saw this STAP as an opportunity to view development through another lens and visit a nation that I had conducted a substantial amount of research on in my own master’s program. At this point in my academic career my research focus area had primarily revolved around education as a peacebuilding tool in post-conflict settings, with Rwanda being a prime case study. However, I knew peacebuilding could not be solely attributed to strengthening education systems. Any international development project, no matter the sector, does not just take place in a vacuum and I saw this as an opportunity to learn more about the businesses that have contributed to the economic growth of the country.

I had been to Africa years prior but had never experienced the lush green hills of Rwanda in person. I was blown away by the city center in Kigali and how it was becoming a business epicenter for the continent and true development model for neighboring nations. Also, I could not get enough of the Akabanga hot sauce. Seriously I put that on everything. However, I was there with a specific goal, to assess the status of a designated agricultural cooperative and deem whether it was ready for investment. I took this time to study my classmates in action, practicing the very business skills they had acquired at GWSB and apply it to a real-life scenario. As a non-business student, I was able to learn from the business students and let them take the lead when it came to asking about financial statements, something I wasn’t confident in myself.

However, I do hope they gained something from my participation as well. Throughout our various site visits and business meetings I believe I came in with a different mindset than some of my classmates. They may have asked the questions about return on investment, but my questions were centered on the learning potential that could accompany various activities. During a business visit to the East Africa Exchange (EAX), a commodities exchange, they told our class about a mobile application they developed to track trading and receipts. I asked whether they had considered integrating a knowledge-sharing piece into the application, so farmers could be connected to share best practices. Ultimately, there are many key elements needed for economic prosperity in a nation, and education is one of them.

Overall, I want to say “murakoze” (thank you in Kinyarwanda) to Dr. Click and the Global and Experiential Education (G&EE) for allowing me to partake in this business project and the impact it has made on my career path.

Nicole Carney is a graduate from the George Washington University Graduate School of Education and Human Development (GSEHD – ’20) and holds a Master’s in International Education.

The Investment Continues: Reflections on a Global Business Project: The Impact Investments in Rwanda

bradminerMay 19, 2020

Christophe De Montille served as a Student Administrative Assistant for Global Business Project: Impact Investments in Rwanda course, taught by Dr. Reid Click, Associate Professor of International Business. Due to the university’s restriction of international travel in response to COVID-19, this course was adapted to an online format just days before the program was set to depart for Kigali, Rwanda.

Below is Christophe’s reflection on the course’s continuation.

About a week before our planned departure to Kigali, Rwanda, GW announced the decision to cancel international travel for faculty, staff and students due to COVID-19. At the time of the decision, there was unexpected disbelief and frustration that the short-term study away program (STAP) would not be as planned. Over the next week, international flights would be cancelled, and country-wide lockdowns would be instituted across the globe. Little did we know (at the time) that the unexpected disbelief and frustration would give way to unprecedented understanding and relief as faculty, staff, and students accepted the new realities of the global pandemic.

Kayonza Rice Production, Ltd. One of the Rwandan companies the students researched for investment.

In spite of this setback, faculty and students cleared their mindset and came together to continue the examination of small and medium-sized enterprises in Rwanda for potential community and financial investment. Although the class was no longer able to travel to Kigali, Rwanda, the students would still have a unique opportunity to work with an experienced client, Ashlye A. Stewart, Founder of ASER Capital LLC. After careful consultation with G&EE, Dr. Reid Click, , and myself ., the decision was made to continue the project. The class would continue to be conducted virtually, and the students would finish the semester by virtually delivering Investment Memoranda to Ashlye and her Investment Committee.

As both the United States and Rwanda entered lock down, the transition to a virtual impact investing course took place. Unable to visit the Rwandan companies, the course pivoted to focus more intently on the impact investing process and specifically how to conduct due diligence. Our student-consultants were provided extensive financial, business, and industry-specific documents in a virtual data room. After the students were able to analyze the documents, Ashlye, Dr. Click, and I met with each student group to provide direction on what should be included in each investment memorandum.

A screenshot of one of the classes virtual sessions.

Class-wide and group-specific sessions were held, and each group was able to refine and hone their final deliverables. The students were encouraged to think outside the box to develop questions that could be taken back to each Rwandan company as part of future due diligence. In addition, students were encouraged to cross-collaborate between teams to have an understanding of how different businesses are structured within Rwanda. The students diligently solved unanswered challenges and developed future questions that would need to be discussed with each business Rwanda. At the final investment presentation, each student was able to discuss their findings and answer the question, “With what you know today, would you invest in this company?” While the students weren’t able to examine the companies in-person, the project still allowed each student to gain significant insight and experience into company due diligence in emerging markets and make an actionable recommendation.

Christophe De Montille is a ’20 Global MBA Candidate at the George Washington University School of Business

Study Abroad in Isolation: Exploring Technology and Innovation in Barcelona, Spain from Home

carneyn16May 8, 2020May 8, 2020

How do you study abroad from home?

As with many facets of post-COVID life, students participating in Global and Experiential Education’s (G&EE) short-term study away program (STAP) Spain: Technology and Innovation in Barcelona were required to be incredibly adaptable on short notice. Within 24 hours before the first student was to depart the United States for Spain, the university announced cancellation of all international travel for students, faculty, and staff.

In collaboration with G&EE, Dr. Mary Granger, Professor Emerita of Information Systems & Technology Management; Dr. Nina McGarry, Adjust Professor of Information Systems & Technology Management; and I as the Student Administrative Assistant worked to create a new syllabus for this now virtual course. The show would go on!

Amidst the other, arguably more serious disruptions to work life, family life, and personal routine, it was reassuring to know that the students would still be able to complete the course for full credit, albeit in a revised format and far from the Catalan capital. For many students, being able to complete a revised version of this course allowed them to stay on track for their graduation at the end of the Spring 2020 semester.

While the physical limitations of the class might not have allowed the students to experience the in-person environments of the start-ups we were due to visit, the online learning format did end up uniquely contributing to the course in a meaningful way. Rather than the usual half-hour visit, students got the chance to spend two hours (virtually) with each entrepreneur, including: Kathy Korman Frey, Founder, The Hot Mammas Project; Alan Patterson, Founder of Boxstore Split Buddy; Ken Huntsman, Angel Investor and co-founder of America Online; and Joan-Albert Garcia Moga, Associate Professor at ESADE Business and Law School. The shared trials of social distancing allowed for common ground and richer conversation. The extended timeline of the course furthermore allowed students to spend a full month developing their own startup pitches, rather than a short week.

Ultimately, the students were able to experience the role of technology and innovation in adapting to changing circumstances firsthand. I'm confident that when the world finds its "new normal," they will be able to leverage the resilience, adaptability, and entrepreneurial spirit developed during this time to make great change.

Nicole Fitchett served as Student Administrative Assistant for GW’s Spain: Technology and Innovation in Barcelona course and is a ’21 MBA Candidate at the George Washington University School of Business.

The Game Must Go On: A look into The Business of Spring-Training Baseball Course

carneyn16May 4, 2020May 4, 2020

The Arizona: Business of Spring-Training Baseball short-term study away program was designed to offer insights into the economics and social impact of Major League Baseball (MLB) spring training in Phoenix, Arizona - home of the Cactus League. The course led by Professor Mark Hyman, Assistant Teaching Professor of Management & Tourism Studies with the support of the Office of Global & Experiential Education (G&EE) covered the profitability of spring training games, the public investment decisions factored into facility projects, and the changing demographics of fans amid tailwinds such as advanced data metrics and sports betting.

At the beginning of the course, students read pertinent baseball novels and conducted secondary research on their respective research topics. The bi-weekly campus meetings were a chance to learn about the students’ findings and connect with relevant guest speakers such as author of Under the March Sun, Charles Fountain; Mickey Shupin, MLB Director of International Events; and Teddy Dwork, Washington Nationals Accounting Coordinator.

Due to unprecedented challenges presented by COVID-19, travel to Arizona was unfortunately canceled and it was up to the unified and prompt response of G&EE and Professor Hyman to continue a meaningful educational experience for the students. During these uncertain times, the G&EE office provided a sense of assurance by backing the students in returning program fees and refunding sunken costs for non-refundable flights. Fortunately, the students have been able to continue research thanks to our seamless integration into remote learning. Despite the students not being able to travel to Arizona to conduct site-visits and meet professionals firsthand, they still have been able to experience many #OnlyatGW moments.

Students continued conducting interviews online with key MLB stakeholders to contribute to their ongoing research during the pandemic. Speakers that have been able to contribute to the oral history of this contemporary research project include Los Angeles Angels Manager, Joe Maddon; Chicago White Sox Owner and GWSB BA ‘57 alum, Jerry Reinsdorf; Scottsdale, AZ Mayor, Jim Lane; and Executive Director, Cactus League Baseball Association Inc., Bridget Binsbacher.

In addressing future G&EE Student Administrative Assistants (SAAs), I would summarize this opportunity as a chance to support the inner workings of a once-in-a-lifetime experiential course offered at GW. These courses encapsulate what an #OnlyatGW moment is: an opportunity to connect a diverse student body with similar interests. I implore prospective SAAs to stay connected with G&EE as well as have a vested interest in the learning outcomes of students in these unparalleled course offerings.

Jonathan Prete is a Senior at The George Washington University School of Business majoring in Finance.