Higher Education Digest – October 2023 – Must-Watch Accounting and Finance Colleges in 2023

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Excellence in Accounting and Finance Education: 2023’s Important Picks

In this era of economic intricacies, financial transformations, and business intricacies, there’s one field that stands as the backbone of the corporate world – Accounting and Finance. As we dive into the heart of 2023, we find ourselves at the threshold of boundless opportunities, and the choices we make in education are pivotal in shaping our futures.

Every day, we witness the financial world’s kaleidoscope, with markets shifting, regulations evolving, and technologies reshaping the way businesses operate. In such a dynamic environment, learning Accounting and Finance transcends being a mere career choice; it becomes a strategic imperative. Whether you aspire to become a financial guru steering multinational corporations or a meticulous auditor safeguarding financial integrity, your journey begins with the right education.

In our quest to provide guidance and illuminate paths to success, Higher Education Digest Magazine has meticulously curated an issue that spotlights the 10 Must-Watch Accounting and Finance Colleges of 2023. These institutions are not just

centers of learning; they are crucibles of knowledge that nurture future financial leaders.

As the world shrinks and boundaries blur, international colleges beckon with unique advantages. They offer a mosaic of experiences, a global perspective, and the opportunity to learn from the best minds across borders. Why should students choose international colleges as their study destinations? Because education transcends geographical confines, and the world is your classroom.

In the pages of this issue, you will find insights into colleges and universities that have carved a niche for themselves in the realm of Accounting and Finance education. We delve deep into their programs, faculty, industry connections, and the unique experiences they offer to students.

We understand that choosing the right institution for your higher education journey is a decision of paramount importance. This issue is your compass, guiding you through the maze of options and enabling you to make an informed choice that aligns with your aspirations.

Enjoy Reading.

Sarath Shyam

COVER STORY 10

DUNCAN ROSS

CHIEF DATA OFFICER, THE (TIMES HIGHER EDUCATION)

UNLOCKING THE UNIVERSITIES’ UNTAPPED POTENTIAL TO ACHIEVE THE UN’S SUSTAINABLE DEVELOPMENT GOALS

QATAR UNIVERSITY’S COLLEGE OF BUSINESS AND ECONOMICS

Nurturing Business Leaders for a Dynamic World

BA SCHOOL OF BUSINESS AND FINANCE (BASBF), LATVIA

Contributing to the Future of Business Education

MENTOR’S MANTRA

COMMITTED TO DRIVING POSITIVE CHANGE THROUGH SUSTAINABLE ECONOMIC GROWTH

Jelena Janjusevic, Associate Professor; Head of Accountancy, Economics and Finance, Global Director of Studies in Finance, Edinburgh Business School, Heriot-Watt University

LEADER IN FOCUS

Dr.

INDUSTRY PERSPECTIVE

6 STRATEGIES ON HOW HIGHER EDUCATION INSTITUTIONS COULD COMBAT FAILING STUDENT RETENTION AND COMPLETION RATE

ACADEMIC VIEW

DECREASING STUDENT ANXIETY THROUGH COMMUNICATION AND SUBSTANTIVE FEEDBACK

UTILIZING ISHIKAWA DIAGRAMS FOR EFFECTIVE PROJECT MANAGEMENT IN HIGHER EDUCATION

A.J. Merlino, Associate VP of Student Professional Development & Experiential Learning, Harrisburg University of Science and Technology

Dr. Melissa Tranquille, Education Consultant

Dr. Joyvina Evans, Assistant Professor, Howard University

DUNCAN ROSS

CHIEF DATA OFFICER, THE (TIMES HIGHER EDUCATION)

UNLOCKING THE UNIVERSITIES’ UNTAPPED POTENTIAL TO ACHIEVE THE UN’S SUSTAINABLE DEVELOPMENT GOALS

Meet Duncan Ross, a seasoned data miner with a career spanning over two decades. He currently leads THE’s Data and Analytics division, orchestrating university rankings and data-driven products. Before this role, he steered Teradata’s data science team across Europe and Asia, pioneering analytical solutions across diverse industries, from manufacturing to telecommunications. Beyond the corporate arena, Duncan co-founded DataKind UK, a nonprofit empowering charities with data-driven insights. He’s a recognized influencer in data, acknowledged by DataIQ and a contributor to UN HESI rankings discussions.

In a recent interview with Higher Education Digest, Duncan explores “Higher Education’s Role in Advancing the SDGs in the G20.” This report, unveiled at the G20 Universities Impact Summit in India, draws on data from THE’s Impact Rankings, assessing universities’ SDG contributions across teaching, research, outreach, and resource stewardship.

Could you please provide a brief overview of your background and experience in the field of data mining and its intersection with higher education?

I started working in a company specializing in neural networks in the early 1990s. I then joined Teradata, where I worked as Director of Advanced Analytics. I was then Data Director for Experian before being recruited back to Teradata to head their Data Science practice.

In 2015, I joined Times Higher Education (then part of TES Global) as Chief Data Officer to help them develop their data strategy, including their rankings.

Alongside my direct work in data science, I have also spent time working with the third (non-profit) sector. I was an elected city councilor in Birmingham, UK, from 19962000. I was Chair of Trustees of Family Service Units, a children’s charity. I sat on the UK Government’s Open Data Users Group. In 2013, I co-founded DataKind UK, a charity dedicated to supporting other notfor-profit organizations in their use of data.

I am currently part of the United Nations

Higher Education Sustainability Initiative, where I co-chair the Rankings, Ratings and Assessments group.

On a global level, there is very little consistent data on our universities despite their importance to society. My experience in data science has enabled me to develop analysis and insights that can support the sector, including through the development of the Impact Rankings.

In 2022, I was listed as one of the top 100 people in Data by DataIQ.

A new report by Times Higher Education highlights the underutilization of higher education institutions in advancing the UN’s Sustainable Development Goals (SDGs). Could you elaborate on how you see universities playing a more impactful role in this context?

Universities can be key supporters in the delivery of the SDGs. They are frequently economic hubs in their communities, with access to resources that can be used to lead on the Goals. In particular, we see four key

We see four key ways that universities can directly contribute: research into solutions needed by the Goals, stewardship of resources, outreach and leadership in their communities, and teaching sustainability

ways that universities can directly contribute: research into solutions needed by the Goals, stewardship of resources, outreach and leadership in their communities, and teaching sustainability.

The report emphasizes the potential of universities to contribute across all 17 SDGs. Could you share a few examples of how universities can extend their influence beyond SDG 4 (quality education) to address other goals?

A great example is the work done by Amrita University in India in their Live-in-Labs program (https://www.amrita.edu/international/livein-labs/). This puts real-world education and research into the heart of some of the poorest

communities in India, working with people to develop solutions around health (SDG 3: Good Health and Wellbeing), water (SDG 6: Clean Water and Sanitation), gender equality (SDG 5) and, of course addressing some of the underlying issues of poverty (SDG 1).

The report draws on the Impact Rankings to assess universities’ contributions to the SDGs. Could you explain how these rankings were developed and how they quantify universities’ impacts on the goals? The rankings were originally developed in 2019. For each of the targets within the goals, we have identified actions that universities can take to

We hope that universities can extend partnerships to link universities with different perspectives on the same core issues – especially building relationships between universities in wealthier and poorer nations (one of the targets of SDG 17: Partnerships for the Goals)

support their delivery. We create a ranking for each of the 17 SDGs individually, as well as an overall ranking.

As well as giving a broad impression of the activities taken by the participating universities, the ranking also allows universities to understand the detailed data and measurements made. This enables benchmarking and understanding.

The rankings have proven to be a huge success, rising from 541 participating institutions in 2019 to 1705 in 2023 (participation is voluntary). This makes it far larger than other sustainabilityfocused rankings and provides a strong base for understanding the sector as a whole.

The rankings also provide a more equitable assessment of institutional performance than other measurements, with universities from across the world – including the global south – performing strongly.

How do you envision these rankings influencing universities’ efforts to address the SDGs?

The rankings give a mechanism for universities to measure their progress against an external set of metrics that are aligned with the goals – and the ability to benchmark their activities against their peers. This can help universities to focus their efforts and to make improvements where possible.

One of the positive indicators of progress in the report has been the willingness of institutions to measure themselves and to take action on sustainability. We hope that universities can extend partnerships to link universities with different perspectives on the same core issues – especially building relationships between universities in wealthier and poorer nations (one of the targets of SDG 17: Partnerships for the Goals).

The report mentions specific SDGs where academic output remains relatively low in G20 nations. Could you elaborate on the challenges universities and governments face in conducting research for these particular goals, especially in nations with limited financial resources?

Research outputs are not evenly spread across all of the SDGs. For example, the volume of output for SDG 1: No Poverty is far lower than for other SDGs. Unfortunately, the impact of climate change will not be evenly distributed. Nations with limited financial resources are likely to suffer more directly and more rapidly. At the same time, they are likely to have greater insight into the challenges and into the potential solutions. Funding research that is going to make a difference is likely to require a range of funders to be more open to addressing the imbalances (both government and private funders) and is also going to require universities to be willing to create effective and relevant partnerships.

Universities are recognized as potential leaders in fostering partnerships to achieve SDG 17 (partnership for the goals). How can universities effectively navigate across sectors and international boundaries to maximize their collaborative efforts?

Universities (and individual academics) have always worked across international boundaries in pursuit of knowledge. Climate change does not respect borders,

We hope that universities will continue to work on the delivery of the Goals over the next six and a half years (the Goals will end in 2030) and can help to shape the replacement Goals as the UN works on those

and the solutions to climate change need to reflect this. There are already academic bodies that operate internationally on climate action, including dedicated organizations such as EAUC (Environmental Association for Universities and Colleges) and broader alliances such as the International Association of Universities. These organizations need to be further supported, and their work needs to be recognized by governments.

Strengthening communication and collaboration between governments and higher education institutions is highlighted in the report. Could you share specific strategies or examples of successful government-university collaborations that have contributed to addressing the SDGs?

Partnerships are key to expanding understanding and effectiveness of action – one example is the University of Manchester’s African Cities Research Consortium, bringing together city leaders, the UK government and universities to focus on the complex problems of cities in Africa. The University of Manchester was ranked 2nd in the Impact Rankings in 2023.

Looking ahead, how do you see the relationship between higher education institutions and the SDGs evolving in the next decade?

We hope that universities will continue to work on the delivery of the Goals over the next six and a half years (the Goals will end in 2030) and can help to shape the replacement Goals as the UN works on those.

What key actions or strategies do you recommend for G20 governments and universities to maximize their collective impact on the SDGs as the 2030 deadline approaches?

Effective partnerships are critical. Our report highlighted three key areas: targeting research (and research investment) across all of the SDGs more effectively, matching the needs of communities with expert knowledge across international boundaries, and ensuring that governments take advantage of the universities’ expertise.

MadSkills and Prompt Engineering: New Compulsory Skills in Higher Education Curricula

Nabil EL KADHI, Disruptive Higher Education Quality Assurance Expert

Dr. Nabil EL KADHI, Provost and Board MemberofVernewellAcademy(UAE)hasalmost 30yearsofexperienceintheacademe,andmore than 15 years of experience in the management of higher education institutions with exposure to European and Middle East and North Africa academic systems. He started his professional career in the early 90s; assumed positions ranging from Project Manager and Department Head to Lab Director, Master Programs Director, Dean, Provost, and Deputy Vice-Chancellor for Academic Affairs; Vice-Chancellor, and President where he remarkably contributed to institutional excellence and several applied research and industrial projects related mainly to Data and Cloud Security and Privacy, Smart Cities and Internet of Things, Digital Transformation and Artificial Intelligence, Secure Payment, Smart Card, Block-Chain and Crypto Currency.

Dr.

MENTOR’S MANTRA

Introduction

The disruptive impact of Artificial Intelligence in higher education is no longer a question nor a doubt. It is today an established fact leading to various new being-shaped equilibriums and concepts. Many articles, discussions, trials, and views have been shared not only on social media and public platforms but also at highlevel educational institutions and authorities. Recently, and at the highest level in the United States of America, the largest AI Stakeholders and leaders have been gathered to reflect on and shape the regulatory framework for tomorrow’s all AI-enabled lifestyle.

In the magma of such deep transformational reflection and unprecedentedly witnessed lifestyle change, the higher education system is in the middle of, what will be, the fastest and the most radical metamorphosis in the higher

education arena. That is not only on how and where to teach (refer to my previous article “https://www.highereducationdigest.com/faceto-face-eduversity-the-new-blended-campus/) but also on what competencies and skills should be embedded in every single curriculum and what the new desired graduates attributes that will, not only reflect the university capacity to prepare youth for a V.U.C.A. future but also meet a dynamic and not yet fully-shaped market needs and challenges.

From Soft-Skills to Mad-Skills: Human Capabilities on Top

It is confirmed! In a more AI and technologydriven environment, workplace, and society, we need more aggressive and dominant human capabilities and soft skills. As per the ICT Standards for Information and Communication

In a more AI and technology-driven environment, workplace, and society, we need more aggressive and dominant human capabilities and soft skills

Technology, the 21st Century Students needed 16 skills that are aggregated into 03 groups as below:

● (06) Foundational Literacies (How students/ graduates apply core skills to everyday tasks): Literacy, Numeracy, Scientific Literacy, ICT Literacy, and Cultural and Civic Literacy.

● (04) Competencies (How students/ graduates approach complex challenges): Critical thinking/Problem Solving, Creativity, Communication, and Collaboration

● (06) Character Qualities (How students approach their changing environment): Curiosity, Initiative, Persistence, Adaptability, Leadership, and Social and Cultural Awareness

62.5% of the needed competencies are under the human and soft skills umbrella in one way or another with clearly 37.5% as personality and human characteristics. A socially engaged and responsible graduate, a creative leader, and a problem-solver with appropriate adaptability and communication skills – these are what every CEO and business angel would love to have as common characteristics of their current employees and teammates. I am sure that we all agree on the same and we have valid rational for supporting such.

Contradictory, if we look at current curricula and the number of dedicated hours and courses that are specifically designed and delivered to cultivate the Character Qualities and Competencies, and in most cases we will not be able to identify more than 20 to 305 (at best) of the courses on soft and personal skills. Yet we, as educators, claim and defend that competencies group skills (especially) are developed in all courses of core competencies and that our various teaching activities serve the

Even though it is almost impossible to predict with accuracy the emerging technologies in 05 to 10 years, it is clear that Generative AI and Quantum Computing capabilities should be at the core of the same

same. Yet partially true but not enough to cope with this new equilibrium; it remains a question to address: How and Who should support higher education institutions in achieving such and assuring that graduates are adequately equipped with the needed soft-human skills?

Before answering such a question, let us first dig deeper and establish what other human factors, skills, and capabilities are needed for tomorrow’s life. In a social and professional life environment where we do deal with AI-based decisions, we manage a team of colleagues, robots, and automated algorithms, we ‘trust’ (with whatever new definition of the term) black boxes to execute tasks, represent us, and our corporate, we do delegate various levels of activities to Generative AI-enabled tools.

A set of extended and reinforced soft skills are surely required. This is what we call MadSkills. The terminology is not very new, and the concept did not emerge as a result of the AI spread initially. In fact, the MadSkills concept saw its emergence with the COVID-19 pandemic peak when companies were looking to hire individuals with high adaptability and creativity and the capacity to think and react fast to unpredictable situations with also the capacity to embrace and lead a team to adapt and engage in the same direction. Acquiring such major characteristics as high critical thinking, adaptability, and creativity, and the ability to lead and engage a heterogeneous team of individuals, algorithms, and robots are the core of what we qualify at MadSkills today. A total of 36 characteristics ranging from motivation and appreciation to creating magic moments and D-puzzled thinking in a team are among the most impactful characteristics of MadSkills.

The terminology may vary from one higher education environment to another and from one context to another but capabilities to motivate, appreciate, articulate, analyze, describe, engage, diagnose, disrupt, empower, develop, and design life scenarios are, in all contexts, required with appropriate usage of existing, and yet-to-come, technologies and AI-based tools. Those are the MadSkills our students and graduates need to acquire today to manage, succeed and lead tomorrow.

A Glance at Prompt Engineering

Even though it is almost impossible to predict with accuracy the emerging technologies in 05 to 10 years, it is clear that Generative AI and Quantum Computing capabilities should be at the core of the same. Hence, understanding Quantum Computing and being able to use ethically, efficiently, and accurately generative AI-based tools is to be a critical skill and a must to acquire capability. This is where Prompt Engineering is today, taking all its importance and meaning.

Prompt Engineering is defined as the capability to formulate appropriate questions and interrogation to get the best out of the generative AI tools. This is in itself a shift in Higher Education as we used to focus on guiding and building student capabilities to find answers, solve problems, and design solutions. We have never been focusing, as much as how much it is needed today, on their capabilities to ask the appropriate questions with the accurate level of detail in order to guide properly the generative AI tools in providing suggestions and solutions. Yet we agree that the first step to identifying an appropriate solution is to ask the right

question with an appropriate focus. Prompt engineering in a conversational style is among the skills and competencies every graduate must master for tomorrow’s workforce.

If you have been using a ChatGPT tool, you have been for sure discovering how you can fine-tune and orient the provided suggestions and answers based on your focus and the conversational details you keep providing the tools with. You must have a clear mindset on the targeted category of discussions you are engaging in with such tools and on your reasoning path.

Multi-Role Multi-Actors: Higher Education Eco-System

Let us go back to the previously asked question of ‘How and Who should support higher education institutions in achieving such and assuring that graduates are adequately equipped with the needed soft-human skills?’. It is absolutely no longer a sole responsibility nor a sole mandate of the Higher Education Institution (HEI) but a collaborative task among various stakeholders of a new educational eco-system.

HEIs are having more pressure and expectations are going higher with a

HEIs are having more pressure and expectations are going higher with a large scope of skills and competencies that graduates are expected to master

large scope of skills and competencies that graduates are expected to master. Yet core skills are part of the same, new skills such as prompt engineering are expected to emerge and be added to the top of the list with the human and MadSkills previously presented. If we want to embed all of these in a single curriculum with a traditional delivery mode where students are exposed to the university environment and their educators, at most, such will be very challenging. It is for sure an output that is to be achieved within the full eco-system of the HEIs and where HEIs are to acknowledge, accept and engage external stakeholders as major participative constituents of the educational process.

Just to illustrate the same, we referred to the need to be socially engaged and responsible as one of the 21st century’s needed skills. Even though universities can design and engage in their own social responsibility programs and initiatives, they will never be as efficient, diversified, and impacting as NOGs and nonprofit organizations (for example) in doing so. Hence, it is more appropriate to partner with and consider these entities as somehow the HEI arm in immersing students in such activities and developing and assessing their social engagement capabilities and skills. The role of non-profit organizations in future education is among the hot topics today and is at the core of many discussions and suggestions (refer to https://www.forbes. com/sites/forbesnonprofitcouncil/2021/03/26/ nonprofits-can-play-a-role-in-the-future-ofeducation/ for more details). AI corporate, Advanced Tech corporates, and Government regulators should also be playing a major part

AI corporate, Advanced Tech corporates, and Government regulators should be playing a major part in the new educational delivery mode where each part is, from an early stage, considered as an HEI contributor in shaping the skills of future graduates

in the new educational delivery mode where each part is, from an early stage, considered as an HEI contributor in shaping the skills of future graduates.

Conclusion

HEIs, used to, are and will continue to play a crucial role in shaping future generations and impacting social life. HEIs are today witnessing an immense transformation not only in the mode of delivery and teaching methodologies but also in the expected

competencies and focus they have to prepare graduates for. Human extraordinary, and beyond average, skills (MadSkills) are for sure among the most expected 21st-century skills and HEIS has no other choice than to disrupt their classical model of curriculum design and delivery and engage in a more collaborative and integrative approach with their eco-system constituents for the best of student and graduate experience leading to a future-ready and future-certified human ready graduates.

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BA School of Business and Finance (BASBF)

Website: Location: Riga, Latvia

https://www.ba.lv/en/

Admission Link:

https://www.ba.lv/studies/program/ bachelor-of-international-finance/

Baruch College, City University of New York

Website: Location: Riga, Latvia

https://www.baruch.cuny.edu/

Admission Link:

https://enrollmentmanagement. baruch.cuny.edu/admissions/

CUNY Hunter College

Curtin University

Website: Location: New York City, USA

Admission Link:

https://hunter.cuny.edu/ https://hunter.cuny.edu/students/admissions/

Hult International Business School

Website: Location: Multiple Campuses (Global)

Admission Link:

https://www.hult.edu/ https://www.hult.edu/apply-now/

Website: Location: Perth, Australia

Admission Link:

https://www.curtin.edu.au/ https://www.curtin.edu.au/study/ applying/domestic/how-to-apply/

Queensland University of Technology (QUT)

Website: Location: Brisbane, Australia

Admission Link:

https://www.qut.edu.au/ https://www.qut.edu.au/study/applying

Qatar University’s College of Business and Economics

University of Liverpool

Website:

Website: Location: Doha, Qatar

Admission Link:

https://www.qu.edu.qa/business/ http://www.qu.edu.qa/business/ programs/graduates/program-general/ admission-requirements

Victoria University

Website: Location: Wellington, New Zealand

Admission Link:

https://www.vu.edu.au/ https://www.vu.edu.au/study-at-vu/ how-to-apply

Location: Liverpool, United Kingdom

Admission Link:

https://www.liverpool.ac.uk/ https://www.liverpool.ac.uk/ courses/undergraduate

Webster University

Website:

Location: Multiple Campuses (Global)

Admission Link:

https://www.webster.edu/ https://applywu.webster.edu/portal/apply

BA SCHOOL OF BUSINESS AND FINANCE (BASBF), LATVIA

Contributing to the Future of Business Education

In the nineties of the last century, when Latvia regained its independence there was an urgent need for professional specialists to drive forward rapidly expanding financial sector into the modern era. It aimed at changing former work culture to embrace a dynamic, global mindset which was extremely imperative at that time. Thus, the BA School of Business and Finance (BASBF) was founded in 1992. Initially known as the Banking College under the Bank of Latvia, it was accredited as a Higher Educational Institution in 1997.

Leading a newly founded institution Dr. Baiba Brigmane, the first rector of BASBF, had a deep understanding of Latvia’s growing need for specialists who could adapt to the evolving trends. At the core of

Since its foundation BASBF has undergone a remarkable transformation over the past three decades. Today, it stands as a respected business school well-recognized in Latvia and internationally

BASBF has been a driving force in shaping the nation’s financial literacy landscape and organizing educational events at schools

her philosophy was the belief that the quality of financial education thrived in close collaboration among a business school, the financial industry, various organizations and state institutions. Her valuable contribution to the development of the Latvian state was recognized by the state award: The Order of the Three Stars, namely the Officer of the Order on April 4 in 2023.

Since its foundation BASBF has undergone a remarkable transformation over the past three decades. Today, it stands as a respected business school well-recognized in Latvia and internationally. Dr. Līga Peiseniece, the rector of BASBF, comments, “Currently we offer 12 study programs, including seven offered in English, educating over 800 students in bachelor, master, and doctoral cycles.” BASBF focuses on two key domains—finance and business administration. In addition, in response to the evolving demands of industries and society, BASBF offers two interdisciplinary study programs: a Master in cybersecurity management and a Bachelor in financial management information systems.

The impact of BASBF is significant in the professional landscape of Latvia, where more than 12,000 of its graduates now work in diverse national and international financial institutions and companies. In many cases the alumni have established their own successful businesses,

Dr. Līga Peiseniece, Rector of BASBF

Every year more than 92% of BASBF graduates start a successful career because they are in high demand in the labour market

evidence to the school’s commitment to promoting entrepreneurial spirit.

Throughout its thirty years the performance of BASBF has resulted in numerous awards, both nationally and internationally. Notably, since 2007 BASBF has been selected among the Best Business Schools by the EDUNIVERSAL Ranking Agency, thus demonstrating a sustained commitment to excellence and global relevance. In 2021 and in 2022, BASBF received the prestigious “Three Palmes of Excellence” award from the EDUNIVERSAL. This recognition signifies the school’s outstanding status as a business school with a strong international influence. BASBF’s dedication to promoting financial literacy in Latvia was acknowledged in 2021 during the 19th Annual Conference of the Baltic Management Development Association (BMDA). BASBF received a BMDA award for its significant contribution to financial education in Latvia.

Recognizing the need for flexibility in education, BASBF offers students the option to shift from full-time day studies to evening studies

Since 2012 when OECD announced globally financial literacy project, BASBF took an active social position in the development and implementation of “Financial Literacy Strategy for Latvia 2014-2020”. A great impact on secondary school curriculum regarding the financial education had a research project “Financial Education – Leveraging the Efficiency in Schools” which BASBF implemented. BASBF has been a driving force in shaping

the nation’s financial literacy landscape and organizing educational events at schools.

Dr. Līga Peiseniece notes, “We are delighted to have been consistently recognized among the TOP 5 recommended universities in Latvia for 13 years, as ranked by 2700 employers on the career portal Prakse.lv. This recognition reveals the relevance of our study programs to the needs of enterprises and emphasizes the competencies of our graduates.” Every year more than 92% of

graduates start a successful career because they are in high demand in the labour market.

Addressing the Demands of the Business World

In a rapidly developing the business world, BASBF stands as a dynamic institution committed to meeting the ever-changing demands of industry. “In 2023 the students of BASBF conducted a study that revealed the needs of 25

Latvian companies within the insurance and finance sectors,” Dr. Līga Peiseniece remarks. “The study showed that 48% of these companies face a significant shortage of specialists.”

BASBF offers exclusively professional study programs, which means that each student undergoes two internships during their course of study. In general, the students start the first employment during their studies, some of them with the companies where they completed their internships.

The commitment to bridging the gap between academia and industry is further illustrated by BASBF’s Career Days. Annually, multiple businesses meet at the institution for a twoday event, offering students a firsthand glimpse into the realities of their respective job opportunities. Dr. Līga Peiseniece adds, “This initiative allows students to interact with industry leaders, gain insights into current market conditions, and explore potential career opportunities.”

At BASBF, the commitment to shaping the leaders of tomorrow extends far beyond the borders of Latvia

Recognizing the need for flexibility in education, BASBF offers students the option to shift from full-time day studies to evening studies. This flexibility enables students to strike a balance between their professional commitments and educational pursuits, a vital aspect of contemporary learning.

One notable program that reflects BASBF’s adaptability to market trends is the Master’s study program in “Cybersecurity Management.” In a world where cybersecurity is paramount, this interdisciplinary program equips graduates with the critical thinking and communication skills necessary to excel in this field. Dr. Līga Peiseniece

notes that the understanding of the rising importance of cybersecurity in various sectors impacts on the study program design which is unique in Latvia, addressing this growing demand.

For those aiming to attain the gateway of academic career and management expertise, BASBF offers a doctoral program in “Business Management.” This program is tailored for professionals with experience in business and organizational management, with the goal of producing highly qualified researchers and specialists in the field. It is a joint doctoral study program, Business Management” with RISEBA University of Applied Sciences (Latvia).

The Stockholm School of Economics in Riga (SSE Riga), and Kaiserslautern University of Applied Sciences (Germany) are strategic partners for a joint doctoral program.

BASBF’s dedication to promote the development of successful professionals extends beyond the classroom. Through local and international projects, the institution challenges its students, offering them opportunities for growth and innovation. Dr. Līga Peiseniece highlights the “Bizness24h” educational entrepreneurship promotion contest, which has been organized by BASBF students for 15 years. Bizness24hours is the largest annual business simulation Game in Latvia aimed at attracting secondary school pupils and students in which participants can gain new knowledge needed for business, as well as can engage in real simulations. This initiative exemplifies the institution’s commitment to fostering entrepreneurial spirit and real-world skills at an early learning stage.

BASBF remains deeply connected to industry needs through regular interactions with experts and professionals in the finance and business. The engagement with professionals keeps BASBF to be updated for the needs of evolving job market and the skills required to thrive in the business environment. The proactive approach was applied in the creation of the professional Bachelor’s study program “Business Process Management,” which was developed in response to employer requests and placed a strong emphasis on digital competencies, leadership, and project management skills.

In collaboration with EY (formerly Ernst & Young), BASBF embarked on a new initiative during the spring semester of Aca 2022/2023

academic year The institution introduced the first work-based training pilot project in Latvia. This project allowed students to gain practical experience within the professional environment of EY Latvia, spanning audit, tax, compliance, and sustainability activities over three months. The success of this project rests on BASBF’s commitment to innovative education and bridging the gap between theory and practice.

As the Ministry of Education and Science plans to integrate work-based training into study programs in the coming years, BASBF’s pioneering initiative with EY Latvia serves as a valuable model for similar future study programs. This immersive experience allowed students to spend one full workday each week for three months working alongside EY professionals, gaining valuable insights into real-world challenges and gain knowledge essential for their future careers.

Fostering a Global Perspective

At BASBF, the commitment to shaping the leaders of tomorrow extends far beyond the borders of Latvia. Dr. Līga Peiseniece emphasizes, “Our primary mission is to support future leaders in finance and business who embrace responsibility for sustainable practices, inspire younger generations, and actively engage in social initiatives.”

To achieve this vision, BASBF has built partnerships with more than one hundred universities across 34 countries, fostering a rich tapestry of international collaborations. Dr. Līga Peiseniece emphasizes the significance of these partnerships, stating, “We believe in the power of global exposure to broaden horizons and prepare our students for the challenges of a rapidly changing

world.” Through the Erasmus+ program, all BASBF students have the opportunity to gain international study experiences, further enriching their academic journey.

In a world where financial experts and consultants are in constant demand, BASBF recognizes the vital role it plays in nurturing these specialists, both locally and globally. Dr. Līga Peiseniece notes, “The need for financial expertise extends beyond borders, and our graduates are well-prepared to excel in diverse institutions and companies, be it in Latvia or anywhere around the world.”

One of BASBF’s notable international collaborations is with SBS Swiss Business School. Dr. Līga Peiseniece explains, that double diploma study programs with SBS are in great demand, they enhance leadership roles within international finance and business field and prepare highly qualified professionals in investment, finance, banking, and corporate finance. Students have the opportunity to obtain 2 degrees from two prestigious business schools by receiving a world-class education with a distinct Swiss flavour.

Encouraging Faculty and Students in Research and Entrepreneurial Pursuits

At BASBF, the pursuit of knowledge extends beyond the classroom, with both faculty and students actively engaged in research endeavours and entrepreneurial pursuits. BASBF’s academic community is a hub of research activity, with a strong focus on key areas such as sustainability, financial literacy, financial technologies, and cybersecurity. BASBF research community plays a great role in fostering opinion leaders and active contributors to the world of scientific publications.

In a rapidly advancing world, BASBF stays at the forefront of technological developments. Before the commencement of every academic year the staff undergoes training. Before the 2023/2024 academic year the stuff had the

In a world where financial experts and consultants are in constant demand, BASBF recognizes the vital role it plays in nurturing these specialists, both locally and globally

opportunity to get experience on the practical applications of Artificial Intelligence (AI). The training helps in encouraging students to explore how AI impacts education.

In 2019 BASBF successfully applied for EU Erasmus+ program funding to implement a large scale interdisciplinary transnational Knowledge Alliance project No.612542-EPP-12019-1-LV-EPPKA2-KA “Knowledge Alliance

of Business Idea Assessment: Digital Approach” (KABADA). Project web page: https://kabada. eu/. KABADA project envisages the creation of a software with AI functionality- a digital tool to assess business ideas and offer guidance how to proceed with a business plan design. Thus, it will assist young entrepreneurs and students to put into practice their innovative business idea. The project was completed successfully in 2023.

Dr. Līga Peiseniece comments that BASBF is committed to providing innovative and practical learning experiences and international projects assist a lot.

BASBF also champions entrepreneurship through the BA School of Business and Finance – OpenLab (BA OpenLab), a collaborative space where students and innovators converge to brainstorm, discuss, engage in seminars, and participate in creative workshops. Thus students have the freedom to develop their innovative ideas, form teams, and take the first steps toward implementation. This environment fosters partnerships and provides access to potential funding opportunities.

Dr. Līga Peiseniece emphasizes the value of hackathons, an integral part of the student experience at BASBF. These events broaden students’ perspectives on various topics and offer valuable experience in collaborating with

peers from universities across Europe. These experiences enhance innovative thinking and facilitate cross-cultural collaboration.

Since 2019, BASBF has been actively involved in the international hackathon HACKTHEWASTE, organized in conjunction with six universities from different countries. This event brings together over 90 students from six nations, all working toward a common challenge: finding solutions to reduce waste during debate festivals like LAMPA in Latvia and Kings-day in the Netherlands.

Shaping the Future of Business Education in Latvia

BASBF’s commitment to innovation is is of paramount importance for shaping the future of business education in Latvia. “BASBF strength lies in the ability to discern the needs of both students and employers, find tailored solutions,

At BASBF, the pursuit of knowledge extends beyond the classroom, with both faculty and students actively engaged in research endeavors and entrepreneurial pursuits

and swiftly implement them,” emphasizes Dr. Līga Peiseniece. Indeed, BASBF operates as a laboratory of business education, where novel ideas are generated and ultimately evolve into established practices. This approach thrives on collaboration with a diverse range of partners, including students, faculty, alumni, universities in Latvia and abroad, companies, and nongovernmental organizations, all playing pivotal roles in bringing these innovations to life.

One illustrative example of this forwardthinking approach occurred in January 2023 during the student hackathon “Future Higher Education of Finance and Entrepreneurship in 2040.” The event was conducted in partnership with EY Latvia, an international professional service company. This collaboration, which began with a cooperation agreement which aims to foster the development of higher education and the business environment. During the hackathon, student teams embarked on a daylong journey into the future, envisioning what higher education in finance and entrepreneurship would resemble in the year 2040. The topics explored included “Future Higher Education of Finance and Entrepreneurship in 2040,” “What Finance and Business Higher Education Looks Like in 2040,” “How Students Learn Finance and Business in 2040,” and “The Nature of Universities where Finance and Business are Taught in 2040.”

To tackle these forward-looking challenges, student teams had to immerse themselves in a future scenario guided by hackathon mentors. The culmination of this creative process resulted in five distinct visions for the future of financial and business education:

1. Lifelong Learning: BASBF envisages lifelong learning programs that serve to the evolving professional needs of alumni.

2. Practical Skills: Students would gain practical skills early in their course of study, enhancing their readiness for the workforce.

3. Flexible Study Arrangements: Students would have the autonomy to tailor their education to their specific needs.

4. Employer and Expert Involvement: The study process would involve active collaboration with employers and industry experts.

5. Data-Driven Education: Automation and analysis of study achievements’ data would inform personalized learning pathways.

6. International Collaboration: BASBF undertakes close collaboration with international universities, offering students the opportunity to study at different institutions during their academic journey. The student’s contribution was taken into account setting up BASBF strategy for 2024-2025 As BASBF continues to evolve and shape the future of business education, it remains firmly rooted in its commitment to providing innovative and forwardlooking learning experiences for students.

Looking ahead BASBF welcomes students from diverse backgrounds and from various parts of the world. BASBF is eager to cooperate with Business Schools with similar mindset to share experience among academia and researchers looking for creativity and innovations in business.

Committed to Driving Positive Change through Sustainable Economic Growth

Dr. Jelena Janjusevic, Associate Professor; Head of Accountancy, Economics and Finance, Global Director of Studies in Finance, Edinburgh Business School, Heriot-Watt University

Dr Jelena Janjusevic is the Associate professor for Finance and Academic Head of Accountancy, Economic and Finance, and Global Director of Studies in Finance at Heriot Watt University . Her areas of expertise include financial markets, investments, portfolio management, sustainable finance, research in finance (econometrics), financial derivatives, but also economics and economy of sustainable development.

Recently, in an exclusive interview with Higher Education Digest, Dr Janjusevic shared her professional journey, challenges overcome by her in her career, significant milestones, personal role model, and much more. The following excerpts are taken from the interview.

Tell us about the UG and PG programs taught by you in finance and economics at Heriot-Watt University. How do they prepare students for the needs of modern society with practical learning for real world action?

On UG level, EBS in Dubai is offering two programs: MA Business and Finance and MA Accountancy and Finance.

MA Business & Finance is a four-year rigorous programme offering students an opportunity to specialise in Finance alongside Business. As such, the programme is the only specialist offering in Finance for students desirous of making a career in the field. The programme draws upon latest industry trends to develop employability skills of the graduates to contribute successfully to their

jobs. The programme is affiliated with the CFA Institute, USA enabling students to take up CFA Level-1 examination successfully, ideally at the end of 3rd year.

MA Accountancy & Finance is a fouryear rigorous programme offering students an opportunity to specialise in accountancy and finance, tightly linked with professional accreditation bodies like ACCA, CIMA, CPA Australia, etc.

Accountancy has often been described as the language of business, and it has long been recognised that an understanding of accounting and finance is an essential prerequisite for those who intend to pursue a career in commerce, industry or public administration. The increasingly complex environment within which both financial and international

Accountancy has often been described as the language of business, and it has long been recognised that an understanding of accounting and finance is an essential prerequisite for those who intend to pursue a career in commerce, industry or public administration

business is conducted and the development and spread of computerised techniques continue to reinforce the need for such an understanding. The value of such studies is also recognised by professional accountancy and allied societies, which offer, to approved graduates, substantial examination exemptions and reduced periods of pre-qualifying service. Our Accountancy and Finance programme is a specialist degree particularly well suited to those seeking entry into the accountancy profession and careers in financial services or financial management. It aims to encourage the development of cognitive skills so

that students learn to apply their new knowledge and understanding as they progress, and become versed in the deeper approach to learning, using powers of analysis, synthesis and evaluation.

Dr Jelena Janjusevic, can you tell us about your professional background and areas of interest?

I am University professor with an extensive career spanning over 12 years of international teaching experience and more than 20 years in research, consulting, and management. Currently serving as an Associate Professor in Finance and Academic Head for Accounting, Economics, and Finance (AEF), as well as the Global Director of Studies in Finance at Heriot Watt University’s Dubai campus in the United Kingdom, creating significant contributions.

By establishing clear goals and timelines, I successfully managed to bridge the gap between science and policy, contributing to informed decisionmaking processes

Fintech

With a proactive role in program development, academic staff coordination, and enhancing student experiences, I have proven my dedication to shaping educational initiatives. Notably, my role as the School’s external engagement coordinator showcases success in bridging the gap between academia and industry while improving overall student experiences.

My teaching expertise extends to both undergraduate and postgraduate programs, specializing in financial markets, investments, portfolio management, sustainable finance, research in finance (econometrics), financial derivatives, as well as economics encompassing micro and macro aspects and the economy of sustainable development.

In my more than 20 yearlong working experience, I was engaged in different research projects and activities. I have spent more than 7 years working

has revolutionized the banking industry, presenting both challenges and opportunities for incumbent banks

in first Think tank organization in Montenegro as researcher and analyst on many different projects dealing with financial markets, macroeconomics, capacity development, sustainable development, reforms, etc. Later, I continued working with international organizations managing projects in different areas. I established and led Centre for Sustainable Development, research centre founded by UN and Government of Montenegro, where designed, fundraised and led project portfolio of more than USD 20 mil. Those research activities served as a bridge between science and policy decisions on different levels and for different partners on national and international level (government of Montenegro, municipalities, social partners, foreign government officials, international institution representatives – World Bank, IFC, EBRD, USAID, UNDP, CHF, EC, etc, domestic and foreign private companies).

My work has been showcased in prestigious events and conferences like the UN General Assembly and the Paris Climate Agreement conference, underscoring my contributions to high-level discourse. My personal commitment has been invaluable in upholding teaching excellence. My contributions encompass current teaching program reviews, curriculum development, and the design, planning, and implementation of academic programs for both regular study programs and executive education.

You hold a PhD in quantitative finance from University of Montenegro. What fascinated you about this subject?

My PhD thesis “Modern Asset Allocation Model, application to Montenegro”, done under motorship of esteemed professor Marina Morena

from Turin University, contained development of Matlab code for calculating optimal portfolio using Markovic Mean variance theory, was pioneering work for emerging market such as Montenegro. Moreover, developed model could be replicated and applied on any other market in the world. Special challenge was dealing with imperfections of the Montenegrin capital market, requiring use and application of additional specific solutions and techniques and methods (statistical, econometric, mathematic etc.). My work and the thesis were awarded by the Central bank of Montenegro, as the best PhD thesis in 2009 in the field of economic sciences in Montenegro.

I wrote and published number of articles and was part of the team of authors of important publications. Besides presented work, I am working with my students on Master and UG dissertations, guiding and assisting them in their particular field of research. I was mentor on more than 200 theses for graduate and undergraduate students. As an important accomplishment I would like to emphasis my joint research work with students on several research or conference papers, presented to international conferences and published in valuable conference proceedings and journals.

What are some of the roadblocks that you faced in your career? Do you have some examples to share on overcoming them?

I have encountered various challenges throughout my career. However, I believe that these challenges have presented valuable opportunities for growth and development.

Here are some examples of roadblocks I faced and how I overcame them:

Balancing research and policy engagement: Working on research projects while actively engaging with policy decisions on different levels required effective time management and prioritization. I developed strong organizational skills to ensure that both research activities and policy engagements received the necessary attention. By establishing clear goals and timelines, I successfully managed to bridge the gap between science and policy, contributing to informed decisionmaking processes.

Navigating complex markets and imperfections: Dealing with the unique challenges of the Montenegrin capital market during the development of my asset allocation model was a significant hurdle. To overcome this, I utilized a range of specialized techniques and methods, including statistical, econometric, and mathematical approaches. By incorporating these solutions, I was able to address market imperfections and develop a pioneering model applicable not only to Montenegro but also to other markets worldwide.

Fundraising and project management: As the leader of the Centre for Sustainable Development, I had the responsibility of designing, fundraising for, and managing a projects. Overcoming the challenge of securing adequate funding involved strategic planning, networking, and persuasive communication skills. By showcasing the value and impact of our research initiatives, I successfully attracted funding from diverse sources, including international institutions, government entities, and private companies.

Mentoring and collaboration: Guiding and assisting staff and students in their research and other professional endeavors presented its own set of challenges. However, by fostering a collaborative and supportive environment, I was able to overcome these hurdles. Establishing strong mentor-mentee relationships and encouraging teamwork among students led to fruitful collaborations on research papers and conference presentations. These accomplishments, in turn, contributed to their academic and professional development. Throughout my career, I have embraced challenges as opportunities for personal and professional growth.

Dream big but have a plan how to transform your dreams in ideas in action! And be guided by love in all you do!

Self-awareness, effective self-management, building transferable skills, continuous learning through reading, networking, and developing a unique perspective are crucial for a successful career. Being aware of one’s strengths and weaknesses, managing time and priorities, and cultivating skills that can adapt to various contexts are essential. Continuously learning through reading broadens knowledge and stimulates growth, while networking fosters connections and opens doors to new opportunities. Lastly, developing a unique perspective and challenging existing ideas allows individuals to become thought leaders

and make meaningful contributions to their field. Embracing these principles empowers individuals to navigate challenges, seize opportunities, and thrive in their careers.

At the 14th edition of the Middle East Banking and Innovation Summit (MEBIS), organized by Expotrade Global, you discussed on FIRESIDE CHAT: MENA Banking: Innovating for Greater Revenue and Enhanced Capabilities. Can you please shed light on this topic? This was a very interesting topic shaping discussion on digitalization and technologies, and

innovation in the financial world, particularly. It was particularly important to hear insights from different perspectives and angles, both from banks and incumbents (start-ups).

Fintech has revolutionized the banking industry, presenting both challenges and opportunities for incumbent banks. Our panel discussion explored the factors that differentiate incumbents from fintechs and highlighted their unique value propositions. We discussed how incumbent banks can embrace agility, innovation, and modern platforms to keep pace with fintechs and meet evolving customer expectations. Additionally, we have delved into strategies for navigating diverse markets, leveraging data for insights and personalization, and fostering a culture of continuous innovation through collaboration, ecosystems, and emerging technologies.

What has been your most career-defining moment that you are proud of?

I believe that there were several defining moments in my career rather than just one. Firstly, being raised by an entrepreneur and teacher instilled in me a mindset of competition, ambition, and the importance of education. From the early stages of my career, I understood the significance of combining these three elements. As a young basketball player, I learned the value of teamwork and collaboration. Later on, I had the privilege of having mentors who emphasized the importance of building a strong business network and forming partnerships. These lessons were further reinforced during my work with international organizations and government entities.

Working closely with students ignited a sense of joy and a deep desire to remain in the

education sector. Collaborating with the United Nations on sustainability initiatives sparked my passion for sustainable finance, ESG principles, and conducting research in this field.

I am an achiever committed to driving positive change through sustainable economic growth. Through my purpose-driven leadership, I aim to inspire and motivate others to act towards sustainability in their work. I will achieve this by developing collaborative educational programs, executive training, and impactful research.

How do you

define success? What

is your take on the ways to achieve longterm success?

Dream big but have a plan how to transform your dreams in ideas in action! And be guided by love in all you do!

Dreaming big is important, but it’s equally crucial to have a concrete plan to transform those dreams into actionable ideas. By setting specific goals, breaking them down into manageable steps, and considering potential challenges, we can create a strategic roadmap for success. Anticipating obstacles and seeking support from mentors and collaborators is vital. While dreams fuel inspiration, it’s the combination of ambitious vision and deliberate action that turns aspirations into reality.

Let love be your guiding force in every aspect of life, inspiring empathy, kindness, and positive impact in relationships and work. With love as your compass, you contribute to a more compassionate and harmonious world.

Who is the one person you look up to and why?

The person I look up to the most is my mother. Her unwavering energy, infectious cheerfulness,

The green economy and climate change economics will be a key focus, with studies analyzing the economic implications of transitioning to a sustainable economy, evaluating climate policies, and exploring risk management strategies in the face of climate-related challenges

and unwavering commitment to everything she does are truly inspiring. She constantly surprises me with her innovative ideas and boundless creativity, infusing love into every task she undertakes. Her caring nature is evident in her actions, as she goes above and beyond to ensure the well-being of those around her. In the face of challenges, she fights with resilience and determination, never giving up until she achieves her goals. My mother’s remarkable qualities make her a true role model, and I am grateful for the invaluable lessons she has taught me through her actions and achievements.

As a seasoned researcher and analyst, what do you think will be big and exciting research areas in economics and finance in the next few years?

In the coming years, there are several exciting research areas in economics and finance that will garner significant attention. Firstly, sustainable finance and impact investing will take center stage as the world embraces the importance of environmental, social, and governance (ESG) factors. Researchers will focus on developing innovative financial products and strategies to address global sustainability challenges.

Additionally, the green economy and climate change economics will be a key focus, with studies analyzing the economic implications of transitioning to a sustainable economy, evaluating climate policies, and exploring risk management strategies in the face of climaterelated challenges.

Secondly, the rapid digitalization of the financial industry will pave the way for research in artificial intelligence (AI), analytics, and fintech. Scholars will explore the applications of AI and machine learning in finance, ranging from algorithmic trading to personalized financial services. They will also investigate the impact of fintech startups and digital payment systems on financial inclusion, consumer behavior, and regulatory frameworks.

Overall, these research areas will contribute to a better understanding of sustainable finance, the economic consequences of climate change, the integration of AI and analytics in the financial industry, and the implications of fintech innovations. By advancing knowledge in these fields, researchers will play a vital role in shaping the future of economics and finance while addressing pressing societal and environmental challenges.

QATAR UNIVERSITY’S COLLEGE OF BUSINESS AND ECONOMICS

Nurturing Business Leaders for a Dynamic World

Qatar University’s College of Business and Economics (CBE) is a beacon of academic excellence, offering a diverse range of programs to undergraduates and graduates. These programs cater to various business disciplines. In the Management program, as Prof. Rana Sobh, Dean of CBE, notes, “We empower students to navigate the global landscape confidently.” Marketing equips students with skills for the digital age, while Accounting instills financial proficiency and ethics.

Finance focuses on strategic financial decision-making, and Economics develops analytical thinking for influencing economic

In an era marked by rapid transformation and evolving trends, the College of Business and Economics at Qatar University remains steadfast in its dedication to educational innovation

decisions. The Management and Information Systems program bridges business and technology, preparing graduates for IT consulting and data analysis. At the graduate level, CBE offers seven programs. The MBA nurtures holistic leaders, the MAC shapes accounting professionals, and the M.Sc. programs deepen expertise. The Business

Analytics program equips students with datadriven decision-making skills.

The Executive Master in Leadership is tailored for seasoned professionals, and the Ph.D. in Business Administration advances business knowledge. “Leadership is a journey, and our program equips professionals to navigate it successfully,” emphasizes Prof. Rana Sobh. In

Prof. Rana Sobh, Dean of the College of Business and Economics, Qatar University

an era of rapid transformation, Qatar University’s CBE remains dedicated to educational innovation, guided by Prof. Rana Sobh.

Elevating Excellence with Accolades and Accreditations

CBE stands tall with a symphony of accolades, affirming its commitment to excellence. At its pinnacle, CBE proudly holds the gold standard AACSB accreditation, solidifying its status as a global leader in business education, known for academic rigor, innovative teaching, and impactful research.

CBE’s specialized departments have garnered esteemed accreditations from top institutions. Accounting programs boast AACSB

accreditation, along with certifications from CPA, CIMA, IMA, and ACCA. Marketing holds DMI and CIM accreditations, while management proudly carries the CMI accreditation. The finance domain is fortified by accreditation from the CFA Institute. Each accreditation reflects CBE’s dedication to excellence in specific disciplines, offering top-tier and industry-relevant education. As a member of the Principles for Responsible Management Education (PRME) initiative, endorsed by the United Nations, CBE embodies ethical and sustainable leadership, shaping conscientious leaders of tomorrow.

CBE’s global rankings are equally impressive, with the Accounting & Finance program ranked

An embodiment of ethical and sustainable leadership, CBE’s membership in the Principles for Responsible Management Education (PRME) initiative—an endorsement by the United Nations— resounds as a clarion call for principled education that shapes conscientious leaders of tomorrow

#151-200 in the

QS World University

Rankings by Subject 2023. The MBA program consistently ranks in the top 100 worldwide and claims the 2nd position in the MENA region, according to QS rankings. CEO World Magazine recognizes CBE as one of the world’s top 122 business colleges in 2023, a testament to the institution’s commitment to elevating business education. Prof. Rana Sobh states, “Our journey is one of perpetual elevation, guided by our pursuit of excellence and our unyielding dedication to shaping leaders of exceptional caliber.” Each accolade, accreditation, and recognition is a milestone on CBE’s path towards educational eminence.

Empowering Future Leaders with a Holistic Approach

At CBE, a profound commitment to nurturing well-rounded graduates resonates. This commitment extends beyond the classroom, fostering skill development and growth in diverse ways. CBE’s ethos revolves around equipping students for success in both academia and the ever-evolving world of business. Central to their strategy is meaningful interaction with prominent figures from the local business community. Events, workshops, and initiatives connect academic learning with real-world insights, including sessions with business

leaders and guest speaker events. Prof. Rana Sobh emphasizes, “Engagement with industry professionals shapes our students’ understanding of real-world challenges.”

CBE’s industry ties are further strengthened through collaborations with local organizations, providing students with the latest trends and networking opportunities. Comprehensive competitions, such as case study challenges, sharpen problem-solving and managerial skills. Partnerships with local and international institutions offer specialized training opportunities. The “Enhance Your Capabilities” initiative ensures students are well-equipped for their chosen fields. Holistic learning is promoted through student exchange programs and internships, exposing students to diverse experiences.

Innovative teaching methods, including digital technologies and simulations like ECONLAND and Playeconomics, enrich educational experiences. CBE integrates 3D design, the Metaverse, and context-specific case studies to prepare students for the digitized world. CBE empowers students to thrive globally by fostering skills, knowledge, and experiences. Through dynamic engagements, innovative pedagogies, and a dedication to holistic development, CBE shapes future leaders ready to drive transformative change.

Guiding Minds, Shaping Futures

CBE boasts a remarkable faculty of over 170 members with a blend of academic excellence and practical industry experience. This diverse assembly of educators enriches students’ learning experiences beyond the classroom. Faculty members bring theoretical foundations

The College of Business and Economics at Qatar University is not merely an institution; it’s a vibrant ecosystem that empowers students with skills, knowledge, and experiences to thrive globally

and real-world insights to CBE’s academic landscape, drawing from their private sector and consulting roles. Their expertise extends to pioneering research, curating industry-aligned course materials, and fostering an engaging learning environment.

These faculty members maintain close ties with the corporate world, staying updated on global market dynamics and building connections with industry leaders. Their exceptional caliber is evident, with 11 faculty members ranking among the top 2% of scientists worldwide and two in the top 1% of Highly Cited Researchers. Notable awards and accolades underscore their impact.

CBE’s commitment to innovative pedagogical methods is recognized, including finalist status in The Higher Education MENA Awards and an exemplary professor’s success in the national “Innovators in Education” competition.

CBE faculty goes beyond instruction; they inspire, lead, and drive transformation. They equip students with the mindset and skills to excel in the ever-evolving business world, embodying CBE’s commitment to nurturing future business leaders. Prof. Rana Sobh pinpoints, “Our faculty is the cornerstone of our commitment to nurturing the business leaders of tomorrow, infusing every student with the passion and skills needed to excel.”

Pioneering the Path of Knowledge

At CBE, the pursuit of knowledge is unwavering, evidenced by robust research and visionary projects. In the academic year 2022-2023, CBE published 160 papers, with 155 in Scopusindexed journals and 102 papers boasting an impact factor exceeding 1, highlighting faculty dedication to enriching academia. These research efforts have earned national and international accolades, including the Abdul Hameed Shoman Award for Arab Researchers, the Qatar University Research Award, and the Best Paper award from the Society for Marketing Advances (SMA) 2022.

With over 750,000 USD in internal and external grants, CBE pioneers innovative studies and

solutions in business and economics, amplifying its commitment to uncharted territories.

Collaborations with government agencies, the Qatar Financial Center, the Qatar Stock Exchange, and leading banks ensure that research remains practical and relevant. International collaborations with institutions like Canada’s Waterloo University and affiliations with renowned case study publishers expand CBE’s global impact. The Case Study HUB, a space for transformative initiatives, has produced impactful case studies addressing human rights issues and the FIFA World Cup. Prof. Rana Sobh notes, “Our research endeavors illuminate minds

Behind

Qatar

the scenes of

University’s College of Business and Economics lies a remarkable faculty of over 170 accomplished members, each wielding a unique blend of academic prowess and practical industry experience

and futures, forging a path towards a brighter tomorrow through knowledge and discovery.”

Forging Pathways of Excellence

CBE thrives on a robust network of local and global partnerships that nurture innovation, learning, and professional growth. Within Qatar, CBE collaborates with key ministries and entities, including the Ministry of Commerce and Industry, the Ministry of Labor, and the Ministry of Environment. Strong ties within the financial sector involve prominent banks like Qatar National Bank (QNB), Qatar

International Islamic Bank (QIIB), and more. Associations with entities like the Qatar Fund for Development, Qatar Stock Exchange, and Qatar Financial Center amplify its contribution to Qatar’s economic landscape.

CBE’s partnerships span diverse industries, from telecommunications to energy and infrastructure, with entities like Ooredoo, Vodafone, Kahramaa, and QAFCO. Allies such as Teach for Qatar, Baladna, and various holding groups enrich its educational pursuits. Globally, CBE collaborates with institutions like the Arab Planning Institute, Microsoft, and accredited

European business schools, enhancing student experiences and research capacities.

International exchange programs expose students to diverse cultures and business practices, aligning with CBE’s commitment to global perspectives. These partnerships yield dividends through student opportunities, knowledge dissemination, research, and program relevance. Prof. Rana Sobh emphasizes, “Our partnerships attest to our commitment to transformative change across borders, sectors, and generations.” With each collaboration, CBE strengthens its reputation as an excellent hub poised to shape the future of business education and practice.

Preparing Trailblazers

CBE resonates with forward-thinking initiatives that prepare students for the dynamic world of business and economics. The “Graduate + Project,” nurtured by the Center for Entrepreneurship and Organizational Excellence, fosters an entrepreneurial mindset, turning ideas into thriving businesses and empowering job

creators. Collaborating with Coursera, CBE tailors training courses to equip students with specialized leadership skills, preparing them for complex business landscapes. Sustainability is embedded in CBE’s DNA, reflected in curated programs, enriched curricula, impactful research, and the Certified Training Partner (CTP) status from the Global Reporting Initiative (GRI), emphasizing responsible reporting.

Partnerships with the International Labour Organization (ILO), the Ministry of Labor, and the Qatar Fund for Development (QFFD) expand CBE’s reach and advocate ethical business practices. Internally, sustainability permeates CBE’s operations, with certifications from the Gulf Organization for Research and Development (GORD) and initiatives like the Student Sustainability Competition. Prof. Rana Sobh emphasizes, “Our initiatives nurture a generation poised to lead, innovate, and thrive in the ever-changing landscape.” As CBE forges ahead, it remains a fortress of preparation, producing trailblazers shaping the future of business and economics.

Measuring the Efficacy

CBE measures its efficacy through the success stories of its graduates, who now hold influential roles as ministers, ambassadors, entrepreneurs, and leaders in various sectors. Their achievements echo CBE’s commitment to nurturing excellence. The college’s impact is evident in the surge of applications and its esteemed status, reflecting the community’s recognition of its exceptional education. Prof. Rana Sobh notes that the rigorous selection process mirrors the community’s pursuit of CBE’s elevated benchmarks.

CBE’s graduates seamlessly transition into employment, showcasing the real-world applicability of its curriculum and alignment with industry needs, highlighting the institution’s dedication to preparing students for success. Since 2010, CBE has held AACSB accreditation,

signifying its commitment to international standards and continuous improvement.

Specialized accreditations, such as the AACSB-accredited Accounting Department, demonstrate dedication to focused domains of expertise and the effectiveness of its educational efforts. Prof. Rana Sobh emphasizes, “The metrics of success are woven into lives transformed and benchmarks surpassed.” As CBE’s journey continues, each achievement propels a community of luminaries shaping the trajectory of business and economics with unwavering determination.

Radiance of Achievement

CBE shines with the accomplishments of its alumni, a testament to the transformative education and career development support offered by the

institution. Distinguished alumni have risen to prestigious roles as ministers, ambassadors, CEOs, and entrepreneurs. Figures like His Excellency Sheikh Mohammed bin Abdul Rahman Al Thani, the current Prime Minister and Minister of Foreign Affairs, and other prominent alumni illuminate CBE’s global influence.

Beyond their individual achievements, alumni play a pivotal role in supporting CBE’s progress. Scholarships, grants, mentorship, job placements, and internships create a vibrant network of collaboration and guidance for current students and graduates. Prof. Rana Sobh emphasizes, “Alumni are our legacy and

During the academic year 2022-2023, the college etched remarkable achievements into the annals of scholarly excellence with the publication of 160 papers

strength.” They actively participate in shaping the college’s future, sharing insights through seminars, workshops, and financial support, ensuring the succeeding generation benefits from their wisdom and experiences.

Annual alumni reunions and the establishment of an alumni association strengthen this profound connection, perpetuating communication and collaboration. Prof. Rana Sobh encapsulates this synergy, stating, “Alumni achievements illuminate our path forward.” As CBE’s journey continues, each alumni success story adds to the legacy of empowerment, resilience, and transformation woven into the fabric of the business world.

Preparing for the Post-Pandemic Era

In preparation for the post-pandemic era, Qatar University’s College of Business and Economics (CBE) is embarking on strategic initiatives that emphasize empowerment, innovation, and resilience. Central to these plans is a focus on equipping graduates with versatile skills. CBE is actively nurturing data-driven problem-solving abilities while instilling ethical considerations in technology adoption. This fusion of technical proficiency and transferable skills aims to transform graduates into catalysts of innovation, capable of reshaping established practices or launching new ventures for the betterment of society.

Recognizing the ever-changing landscape, CBE integrates lifelong learning into its core, ensuring that graduates remain adaptable and relevant in their careers. CBE is set to introduce

new programs tailored to meet industry-specific needs, fostering professionals who can lead and influence their respective fields. A significant upcoming initiative is the Fin-Tech and Trading Lab (FT&TL), demonstrating CBE’s commitment to experiential learning. This lab will serve as an incubator where students gain hands-on experience in financial technology and trading. Equipped with data analytics, machine learning, and blockchain technology tools, the lab will prepare students for the evolving financial landscape.

Prof. Rana Sobh emphasizes, “Our immediate plans are seeds for transformative futures, where graduates possess the knowledge, skills, and ethics to make a profound impact.” As CBE navigates the post-pandemic landscape, each initiative represents the institution’s dedication to nurturing adaptable, innovative, and principled leaders ready to face the uncertainties ahead.

Decreasing Student Anxiety through Communication and Substantive Feedback

Dr. Joyvina Evans, Assistant Professor, Howard University

Dr. Joyvina Evans is an Assistant Professor at Howard University in Washington D.C., a self-care advocate, author, speaker, Founder of Advocating for My Uterus (non-profit), and Creator of Confidence Academy. Dr. Evans earned a Ph.D. in Public Health, M.S. in Public Health, and M.S. in Administration. She completed the Women in Education Leadership Program at Harvard University’s Graduate School of Education, Higher EducationTeaching and Learning certificate online through Harvard University’s Graduate School of Education. She earned the Executive Leadership and High-Performance Leadership Certificates from Cornell University’s E-learning platform.

Students are dealing with new and continuing challenges throughout their college years, which can exacerbate anxiety, stress, and depression. Students must deal with separation from family and friends, living with roommates

they may not know or get along with, managing course workloads and assignments, and working to pay for tuition or housing. An article by Harvard University states that psychological distress increases during the first and second years. Increased anxiety and distress lead

Understanding that students deserve a great learning experience should fuel the experience from preparing lectures to grading assessments

While many professors will receive audacious requests from students, it is crucial to understand that some students are honest and transparent regarding their mental health and family

to increased high-risk behaviors such as substance abuse and excessive amounts of caffeine due to sleep disruption. A nationwide survey by the American College Health Association ACHA) identified stress and anxiety as the most common impediments to academic performance.

Professors are in a unique position to teach students but also to mentor and coach them. College years are an intricate part of the development cycle and can make or break a student’s confidence and spirit. Additionally, understanding that students deserve a

great learning experience should fuel the experience from preparing lectures to grading assessments. Professors can help decrease student anxiety through communication and substantive feedback.

Below are a few strategies to help reduce student anxiety and provide a better course experience:

● Regular communication: Responding to student emails in a sufficient amount of time is critical. Many students have a quick

question about lecture content, assignment instructions, or a grade. Ensuring students are clear on your communication turnaround time by including the language in the syllabus and verbally discussing this during the first session is imperative. Additionally, replying (or having a teaching assistant reply) at most 48 hours after receipt of the message is helpful. If professors use an online platform, communicating via course announcements and including clear expectations can help the students know their weekly expectations and assist with planning. Including assignment due dates and instructions upfront so students can review them is an excellent way to allow them to plan. Interaction and communication initiated by the professor are intricate components of the education process. Consistent and timely communication that provides strategies for success, clear direction regarding assignments and expectations, and active office hours lets the student know you are engaged and available to help.

● Providing substantive feedback: Providing timely feedback is a great way to decrease anxiety. Lettings students know they are not simply a number by always using their preferred name when replying to emails and preparing feedback is key. Substantive feedback is specific and helps students know ways to improve their work and expand on key concepts. Beginning the feedback with what the student did well in the assessment is helpful. It is beneficial to guide the students and let them know how to improve their assessment. More important is ensuring that we provide constructive feedback

that is not condescending or disrespectful. Choosing our words carefully and avoiding microaggressions is essential when giving feedback. When students are clear on what they did right, what they did wrong, and ways to improve, they can move forward positively with future assessments. Lastly, ending with a positive sentence is a great way to conclude the feedback. When drafted effectively, feedback can empower students and guide them to understand their strengths and opportunities.

● Displaying empathy and compassion: Demonstrating empathy and compassion is necessary for decreasing anxiety. While many professors will receive audacious requests from students, it is crucial to understand that some students are honest and transparent regarding their mental health and family. Overall, letting students know you genuinely care about them, and their well-being is paramount and goes a long way. Even if professors deny a request, ensuring that you communicate the denial with compassion goes a long way.

The list of strategies is not exhaustive; however, it can assist students. Additionally, it is essential to note that professors should never take the role of mental health professionals. We must know when to refer the student to campus resources for assistance and help. Our role is teaching, leading, guiding, mentoring, and coaching students through the course and the college experience. While these strategies will not eradicate anxiety, they can ensure that we are doing our part to now add to student distress.

Utilizing Ishikawa Diagrams for Effective Project Management in Higher Education

A.J. Merlino, Associate VP of Student Professional Development & Experiential Learning, Harrisburg University of Science and Technology

A.J. Merlino is a five-time GRAMMY-nominated music educator with a passion for cultivating creativity and innovation in higher education. His background in the arts as a performer and large-scale project manager helps inform decisions as a business strategist, bringing a unique perspective to the educational landscape. As a touring musician and clinician, he has presented in Scotland, Croatia, Greece, Thailand, Canada, Australia, and Argentina. Dr. Merlino has worked as a project manager, music director, composer, and performer for many projects held at The Venetian, Mandalay Bay, MGM Grand, and Cosmopolitan in Las Vegas. Dr. Merlino’s experience collaborating with campus leadership and community partners has successfully increased students’ educational programming and learning opportunities while positively impacting student enrollment, matriculation, retention, and outcomes through career-level engagement.

In

my previous article, “Using Project Management Principles to Develop Academic Learning Communities,”

I discussed how academic learning communities could be formed and developed using project management principles. In this follow-up article, I will use Ishikawa diagrams

to identify the root cause of common problems in higher education and provide steps for your project team to address these issues. An Ishikawa diagram, also known as a fishbone diagram or cause-and-effect diagram, is a visual tool used to identify and analyze the root causes of a problem or issue. It is named after

Although typically used in quality control and problem-solving, Ishikawa diagrams can be used in various fields to identify potential risks and challenges

its creator, Kaoru Ishikawa, who developed the diagram in the 1960s as a quality control tool. Although typically used in quality control and problem-solving, Ishikawa diagrams can be used in various fields to identify potential risks and challenges. For example, in higher education, Ishikawa diagrams can identify and address student retention, postgraduate outcomes, program development, and curriculum design issues. By understanding the root causes, you can develop strategies to prevent problems from happening in the future. Additionally, these diagrams can help identify potential barriers to effective teaching and learning or identify gaps in knowledge or skills that may hinder the success of a project. Some focus areas might include:

Lack of student engagement

Inadequate faculty support

Insufficient resources

Low student enrollment

Identifying the root cause of a problem with Ishikawa diagrams:

1. Develop a problem statement: The first step in using an Ishikawa diagram is identifying the most significant issue that needs addressing. This could be anything from low student retention rates to ineffective teaching methods. The goal of this step is to focus on and identify the effect rather than the associated causes. This problem statement is later placed at the “mouth” of the Ishikawa diagram.

2. Gathering data: Once the problem statement has been identified, the next step is to collect as much data as possible related to the problem. This could include student performance data, first destination surveys, feedback from students and faculty, or academic literature pertaining to the issue.

3. Identify major categories: Identify the major categories that may contribute to the problem statement using the data collected.

Ishikawa diagrams can be used to identify the root causes of issues related to curriculum design

These are typically the “bones” of the fishbone diagram and are larger ideas than specific causes. Categories may include people, processes, policies, or the environment.

4. Identify underlying causes: Within each major category, brainstorm possible causes that may contribute to the problem. These are the “branches” of the fishbone diagram. Be as specific as possible and use your team’s expertise and experience to generate a comprehensive list of potential causes. Every idea should be captured in this step and can be refined or removed later. Causes may fall into

multiple categories, take the form of events, or mistakes, and may be interrelated.

5. Creating the diagram: The Ishikawa diagram can be created using the data gathered in the previous steps. Place the problem statement at the “mouth” of the fishbone, and add your categories, such as people, processes, policies, and environment, to the ends of each “bone.” Once you have organized the categories, insert the causes related to each category as “branches.”

6. Analyze and prioritize causes: Once your causes are entered in the diagram, analyze,

connect, and prioritize them. Consider which causes are most likely to contribute to the problem and which are easiest to address. There are many techniques like 5-Whys, Pareto analysis or a decision matrix to help with this step. To Use 5-Whys, start by clearly defining the problem, then ask “Why?” to identify the immediate cause, often tied to a process failure. Ask “Why?” again about this cause, and repeat until a root cause is identified, typically after five rounds. The key benefit of this method is it emphasizes understanding root causes over treating symptoms, leading to more effective, longterm solutions. Describing the use of all these tools is beyond this article’s scope, but many resources are available via the Project Management Institute.

7. Test and validate causes: After prioritizing and connecting the potential causes, test and validate them to confirm they may contribute to the problem. You should use the previous data as part of this step, but drill down and connect reports when applicable. Draw correlations to data points when appropriate and provide evidence to support your findings. In this phase, a lack of evidence is as significant as an abundance of evidence, as the former will reveal anecdotal correlations to the problem rather than fact-based connections.

8. Refine the diagram: Once the analysis is complete and evidence is presented, remove items that do not show fact-based connections to the problem. This analysis can be used to develop solutions to address the problem, allocate resources to effectively address the issue, and select/refine the appropriate project team.

9. Developing solutions: Based on the analysis of the diagram, a project plan (timeline, scope, deliverables, budget, etc.) can be developed to provide a solution to the root cause of the problem. The solution can be tested and refined until the problem has been adequately addressed, and the project team’s needs can be altered concurrently with this development. If there are multiple root causes, you may use an iterative problem-solving approach. Each iteration of this process should address a root cause, improving a category until they no longer include an issue, consequently solving the problem.

10. Monitor and measure results: After implementing your plan through each iteration, monitor and measure the results to ensure that the root cause has been effectively addressed, and the problem does not recur.

Examples of Using Ishikawa Diagrams in Higher Education:

1. Curriculum Design: Ishikawa diagrams can be used to identify the root causes of issues related to curriculum design. For example, suppose students are consistently struggling with a particular course. In that case, an Ishikawa diagram can be used to identify potential causes such as ineffective teaching methods, unclear learning objectives, or outdated course materials.

2.Student Retention: Ishikawa diagrams can also be used to address issues related to student retention. For example, suppose a significant number of students withdraw from a particular program. In that case, an Ishikawa diagram can be used to identify potential causes such as inadequate academic support, poor program fit, or high program costs.

3. Program Development: Ishikawa diagrams can be used to identify the root causes of issues related to program development. For example, suppose a new program needs to attract additional students. In that case, an Ishikawa diagram can be used to identify potential causes such as poor marketing strategies, lack of student interest, or insufficient program funding.

Limitations of Ishikawa Diagrams

Ishikawa diagrams are a valuable tool but have some limitations. One limitation is that they can be time-consuming to create and difficult to use if the problem is complex. Therefore, Ishikawa diagrams should be used as A tool to solve a problem, not THE tool.

Additional tips for using Ishikawa diagrams in project management:

1. Involve all project stakeholders in the development of an Ishikawa diagram, not just decision-makers. In the context of higher education, this may include students or parents. The collaboration will help to ensure that all potential causes of problems are identified.

2. Be specific and connect causes when creating the Ishikawa diagram. The more specific you are, the easier it will be to develop an effective project team and plan. If specificity becomes difficult, use 5-Whys to aid in this process.

3. Review the Ishikawa diagram regularly and update it as needed. This is an iterative document; regular updates ensure the diagram is accurate and useful. Beyond identifying root causes, this tool is useful in identifying positive behaviors that may be transformational in other functional areas within an institution.

This example uses low enrollment as the problem to be addressed:

Ishikawa diagrams are a valuable tool but have some limitations. One limitation is that they can be time-consuming to create and difficult to use if the problem is complex

Ishikawa diagrams are useful for project managers in higher education. They can be used to identify the root causes of issues related to curriculum design, student retention, and program development, among others. Further, this tool can help to identify potential risks and challenges, develop mitigation strategies,

improve communication and collaboration, and make better decisions. By using Ishikawa diagrams to analyze and address these issues, higher education institutions can improve student outcomes, enhance program effectiveness, and better meet the needs of their students and faculty.

6 Strategies on How Higher Education Institutions Could Combat Failing Student Retention And Completion Rate

Dr. Melissa Tranquille, Education Consultant

Student retention and completion rate have been a hot topic for Higher Education (HE) institutions since prior to the COVID-19 pandemic. Undoubtedly, the COVID-19 pandemic has had a negative impact not only on the higher education sector but across various sectors worldwide. Now, post-pandemic, student retention and completion rate remain

a unique concern for HE institutions despite slight gains.

The National Student Clearinghouse reported that 75% of students who embarked on their college journey in the first fall of the COVID-19 pandemic returned for their second year which reported a 1.1% increase in the persistent rate. Basically, the persistent rate refers to the percentage of students who

With the changing global landscape post-COVID, and the widespread growth of Artificial Intelligence (AI), it is crucial that HE institutions amplify their search for unique strategies to combat student retention and completion rates

Dr. Tranquille runs a consultancy businesswheresheprovidesacademic consultancy services to higher education institutions and students to meettheireducationandacademicneeds. She has dual citizenship between Trinidad and Tobago and France. She has cited Paris as one of her favorite cities, where she lived for almost a decade. Dr. Tranquille achieved her Doctorate in Social Sciences from the University of Leicester and a Master of Science Degree in Human Resource Management and Human Resource Development from the same university. She has over 15 years of combined professional experience in the human resource management, training, and education sector. Dr. Tranquille has also authored the book ‘Uncrushed: A Simple ThreeStep Process to Break a Negative Mindset and Achieve Any Goal in Life’ which can be found on any Amazon platform. Dr. Tranquille now lives with her family in the United Kingdom.

return to college for their second year at any institution. Although this figure represents a slight increase, research indicates that this is still below the pre-pandemic level. The same report disclosed that retention rates showed a slight 0.7% increase to 72.4%. However, it is important to note that such increases were recorded for full-time students and relate more primarily to community colleges and private for-profit-fourinstitutions, while other institutions experienced a slight decline. Thus, student retention and completion rates remain a unique problem across higher education institutions. With the changing global landscape post-COVID, and the widespread growth of Artificial Intelligence (AI), it is crucial that HE institutions amplify their search for unique strategies to combat student retention and completion rates.

Here are SIX key strategies that can help HE institutions address this unique problem.

1. Continuous drive to enhance the student experience: As an academic consultant, this first problem is one that I have frequently heard students complain about. I was therefore not surprised to discover that a 2021 Student Academic Experience Survey published by Advance HE and the Higher Education Policy Institute (HEPI) found that 44% of undergraduate students studying in the UK reported ‘poor or very poor’ value, compared with just 27% who felt that they received ‘good or very good value’. Amongst other concerns ‘assessment feedback’ and ‘better communication’ were two of the top answers provided by students on how their academic experience could be improved. As a first step, it is critical that each

It is important to note that improving student experience has less to do with what the HE institution thinks should be done, and more to do with ‘what their students want/need’

institution evaluate the entire student journey experience to determine where the key gaps in the process. Assessment feedback and communication experience should also be at the top of their list.

It is important to note that improving student experience has less to do with what the HE institution thinks should be done, and more to do with ‘what their students want/need’. The goal is to provide services that will have a positive contribution to each student’s experience throughout their time at the institution. This should therefore start from Day 1. It is also recommended that institutions evaluate their strategies on a periodic basis to determine what is working well and what isn’t. This continuous and dedicated drive to enhance student experience will also reflect positively on the institution and its reputation.

2. Broad range of student support: Students at HE institutions have very busy lives. Many are juggling family, careers, and other personal goals. Thus, providing a broad range of student support will have a positive impact on the student experience. HE institutions could consider providing more personalized student support. As a start, prior to commencing their program, students could be asked to indicate how they prefer to be engaged. Wiley University purports that understanding students’ preferences can incorporate the advising element throughout their program in a seamless way into their learning experience. Again, engaging in an audit of your student support to identify any key gaps and take immediate action would then go a long way to strengthening retention.

Student support could range from support for academic challenges, mental health, achieving life balance, career counseling, student medical service, study training, networking, and more. Another noteworthy point is that many students are also unaware of the support that they have access to at their institution. It would therefore be beneficial to take proactive steps to ensure that students are fully aware of all the support that is available to them and how to access that support.

3. Robust data collection that could inform student retention strategies and policies: Many HE institutions tend to focus on gathering data for the satisfaction of the Integrated Postsecondary Education Data System (IPEDS) in the U.S. or for the Higher Education Student Statistics in the U.K. However, tackling this unique problem of student retention would require a deliberate choice to take proactive steps to gather more robust data which could then be used to inform future decision-making. Here are some key areas in which data could be gathered.

- Key student data like demographics, fulltime or part-time status, learning type, site visits, module or lecture cast completion rates,

- Academic data – module/program feedback, lecturer feedback, enrolment rates, module course grades by programs, graduation rates

- Faculty data – employee demographics, staff salaries, staff productivity levels

Analysing such key data can help to inform future student retention policies and strategies. It also allows you to determine those areas that are performing well and key gaps which require attention.

4. The Buy-in and collaboration of the entire faculty: The success of any student retention strategy would depend on the buy-in and collaboration of the entire faculty. It would therefore be counter-productive to engage in such a monumental task without the support of the entire faculty. Thus, a positive student experience should be the goal of all parties at the faculty with a recognition that each contributes to every student’s experience in a different capacity. Helping the entire faculty to understand this goal and to recognize their part in this collaborated vision will go a long way to strengthening student retention.

5. Targeted interventions: When engaging in a more robust data collection process, you will be able to determine the major gaps in the student experience journey. In this way, the institution could engage in targeted interventions. For instance, the data may reveal risks to students. This may include students who have been inactive and could therefore likely result in a potential dropout. In such a case, proactive and specific steps could be taken to reach out to such students to understand what type of support, if any, would benefit them in their educational

journey. Thus, use data analysis to provide more targeted interventions.

6. Use of AI to boost student engagement: AI is now being considered by researchers to provide solutions to key problems. It is therefore an opportune time for the HE Sector to begin to consider how AI could be used to add further value and help solve critical problems relating to student engagement. Belcheva (2023) argued that if AI data is used the right way, it could provide learning analytic solutions, improve access and inclusivity for students with disabilities or other learning needs, boost student engagement, and even reduce teacher workload by performing some of the repetitive tasks which could be automated. By so doing, teachers could also have more time to invest further in driving student experience.

AI is not going away and further advancements in this field are inevitable. It is therefore imperative that HE institutions begin to consider its relative advantages and take the necessary steps to benefit positively from this technology to address relative problems in the HE Sector. In the same vein, proactive steps would need to also be taken to mitigate against the negative impacts of this technology.

The success of any student retention strategy would depend on the buy-in and collaboration of the entire faculty