PHILADELPHIA, March 25, 2009 (GLOBE NEWSWIRE) -- The Aresty Institute of Executive Education at the Wharton School of the University of Pennsylvania recently graduated the first cohort of students in the Women's Entrepreneurship and Leadership Certificate Program in Cairo. The program, delivered through collaboration with the American University in Cairo (AUC), is part of the Goldman Sachs 10,000 Women Initiative, a global project to provide women with business and management education.
"Wharton understands that in order to help emerging markets to develop, we need to invest energy, time, and educational resources in women. Research has shown that the benefits women gain from their businesses go back into the community," said Rita McGlone, senior director of Wharton's Executive Education programs. "Wharton has a role to play in enhancing these women's leadership capabilities and business skills because it will not only serve to transform them, but will also transform their families and communities."
Thirty-four Egyptian, Palestinian, Iraqi, and Jordanian women were selected out of 250 applicants to participate in the five-week program held at AUC from Feb. 1 to Mar. 5. The women were all college graduates, but very few had any formal business training. They came from diverse backgrounds with differing amounts of experience running businesses.
The group of students, which included a medical doctor and several pharmacists, attended courses taught by Wharton and AUC faculty. In addition to the theoretical in-class learning, participants learned practical skills through hands-on experiences as well as through mentoring and coaching. The curriculum centered on enhancing the ability of the women to succeed by teaching them how to develop a business plan, secure funding, hire and manage employees, manage business operations, understand accounting, market products and services, and balance work and life.
Wharton Professor Mauro Guillen, who taught a strategy class, developed a case study specifically for the program about a woman-owned jewelry business considering an international marketing strategy. Other Wharton faculty included Professor Sarah Kaplan, who taught strategy; Monica McGrath, a Wharton lecturer and academic director of the program, who taught topics such as team building, networking, and mentoring; and Mori Taheripour, a Wharton alumna and lecturer who is Iranian and who taught courses on entrepreneurship, negotiations, and communications.
The curriculum was designed by Wharton and AUC faculty and staff based on the specific needs of women entrepreneurs in the Middle East. "Their interests ranged from how to prepare a business plan and develop the confidence to explain a business concept to how to build a network and access resources," said McGlone. "We developed a comprehensive curriculum that used a business plan throughout the program to integrate the concepts being taught and translate those directly into the women's businesses. We also spent a lot of time with empowerment issues, helping to set clear goals, networking, and communication strategy."
At the end of the session, the students pitched their business plans to their peers, faculty, staff, and guest entrepreneurs. After the pitches, they received feedback on the business plans and their presentation skills. On the final day, the students received certificates of completion at a graduation ceremony.
"Wharton brought its best practices in entrepreneurship and leadership development to the table," said McGlone. "AUC brought its understanding of the culture and the specific needs of businesses in developing economies, and together we created something very positive that is consistent with Wharton's mission to be a force for good in the world."
Two additional sessions at AUC will run in May with cohorts of 35 women in each session. For more information on the Women's Entrepreneurship and Leadership Certificate Program, please visit: http://develop.aucegypt.edu/inas/welprogram/index.html
About Executive Education at the Wharton School
The Wharton School of the University of Pennsylvania -- founded in 1881 as the first collegiate business school -- is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. The most comprehensive source of business knowledge in the world, Wharton bridges research and practice through its broad engagement with the global business community. The school has more than 4,700 undergraduate, MBA, executive MBA, and doctoral students; more than 12,000 annual participants in executive education programs; and an alumni network of more than 84,000 graduates. For more information: www.wharton.upenn.edu
Informed by in-depth, groundbreaking academic research and extensive industry experience, Wharton Executive Education programs can span anywhere from a few days to six weeks or longer. Each executive education program offers a supportive and challenging context where participants gain the skills necessary for their next level of executive development. Participants who come to Wharton from a diverse range of industries engage with faculty who are the most cited, most published faculty of all top-tier business schools. With a profound influence upon global business, Wharton faculty are the sought-after, trusted advisors of corporations and governments worldwide.
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About Goldman Sachs
The Goldman Sachs 10,000 Women Initiative was launched March 5, 2008. It has partnered with more than 50 academic and development partners throughout the world to provide business and management education to 10,000 women entrepreneurs. The program also seeks to grow the capacity of business education around the world. For more information, please visit: www.10000women.org
The Goldman Sachs Group, Inc. is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
CONTACT: The Wharton School, University of Pennsylvania, Media Contacts: Wendy Parsons, Director of Marketing Communications, Aresty Institute of Executive Education, +1.215.898.7239, parsonsw@wharton.upenn.edu; Goldman Sachs, Joe Snodgrass, +1.212.902.5400, joseph.snodgrass@gs.com