Forbes: Leaders In Learning - Mar 29, 2010 - Starmanship ...

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lebanon2-2010:forbes 3/1/10 8:23 AM Page 3 LEBANON PROMOTION 3 manager, describes as a quantum leap in its expansion strategy. At an international level, the bank now has a presence in seven other countries: Syria, Algeria, Libya, Sudan, France, Belarus and Cuba. At a local level, Fransabank is Lebanon’s most widely represented bank, with more than 100 branches, and it is expanding its local network to cover all regions. Notably, it maintained a presence in the southern region throughout the Israeli invasion and occupation. Fransabank intends to continue its expansion in international and regional markets that present high economic potential. “The importance of Lebanon is not only in the investment opportunities it presents within its borders,” says Kassar, “but also in those that it can pursue abroad.” Like its banks, Lebanon’s law firms, insurance companies and IT companies are reaping the benefits of peacetime. Abou Jaoude & Associates has reinforced its position as one of the leading law firms in the Middle East, increasing its local, regional and international client base. Carlos Abou Jaoude, the firm’s founder and managing partner, expects to increase its number of lawyers from the present 38 to 100 by 2015. “The firm only relies on corporate clients and is now working on converting some family businesses into corporations, thus introducing corporate governance rules in anticipation of future flotation,” notes Jaoude. UFA Assurances, one of the country’s largest insurance companies, has enjoyed an increase in business of 15% to 20% in recent years but expects an increase of 40% in 2010, says its chairman, Henri Chalhoub. After establishing the company in Jordan in 1975, Chalhoub expanded its operations to Cyprus, Saudi Arabia and Syria. Today, his company operates in nine countries around the Mediterranean Basin, in the Middle East, and in Europe and North America through a network of 25 offices. UFA controls and runs underwriting management agencies, insurance and reinsurance brokers, and service companies. Each entity operates autonomously with its own management and under its own name and banner. The total annual premiums that the group manages are in excess of $450 million. Chalhoub describes himself as the patriarch of the business, which his two sons now run. “I think I will stop expanding now, except for one place I would go to, and that is Qatar,” he says. BML Istisharat, a Lebanese company that provides international banking and insurance companies with enterprise resource planning (ERP) software to manage their information systems, has launched its operations in seven banks in northern Iraq and plans to continue expanding there, says Joe Faddoul, its chairman. In addition to providing its services to a quarter of Lebanon’s own banks, the company has more than 300 clients worldwide and derives 60% of its revenue from exports to the U.S., Europe and the Middle East. Malaysia is its next target, says Faddoul. Market capitalization on the Beirut Stock Exchange increased last year by 34% to $12.8 billion year-on-year, of which 66.7% was in banking stocks and 30.7% in real estate stocks. “We are confident that the economic stability and growth will continue,” says Ghaleb Mahmassani, the vice chairman of the Exchange. ❖
lebanon2-2010:forbes 3/1/10 8:23 AM Page 7 LEBANON PROMOTION 7 Leaders in Learning Lebanon’s innovative study centers are teaching the world a thing or two about education. Peace in Lebanon has boosted enrollment in the country’s higher education sector. Fewer students are studying abroad, while more foreign students are attracted by what Lebanon can offer them. The Lebanese American University (LAU), one of the oldest of the country’s 15 higher education establishments, experienced a 45% increase last year in students coming from the Persian Gulf states, says Dr. Joseph Jabbra, LAU’s president. The country’s appeal is understandable, he says: “Lebanon is a microcosm of the world. It is a place for the East and West to meet. Everybody wants to come to Lebanon. Give me five minutes, and I’ll convince you to come live here.” LAU has a similar appeal, he says, as it introduces its students to a variety of people from many other countries: “We distribute $12 million every year in financial aid to students who have the educational standards we look for but can’t afford their tuition. We feel strongly that there should be a mix of social backgrounds.” With a total of 8,000 students, LAU limits its population of foreign students to 20%. Even with this restriction, they represent 86 different nationalities. “We have a six-week program for American and European students to study Arabic and learn about the region,” says Dr. Jabbra. “Last year we had 112 students taking this program, and this year there have been more.” LAU has seven schools offering degrees in arts and sciences, business, pharmacy, engineering, architecture and design, medicine and nursing. Dr. Jabbra says the School of Pharmacy is the only one with American accreditation outside the U.S. The School of Engineering, he adds, cannot graduate enough engineers to satisfy demand; the School of Architecture and Design is the best in the region; and the School of Medicine has an association with Harvard. “We have very high standards. We are planning growth to increase our enrollment to 10,000 students, and I see LAU taking its place in the constellation of the best institutions around the world,” he says. LAU was originally established as Mrs. Smith’s Beirut Female Academy in 1835 by Sarah Smith – an American Protestant missionary who lived in Lebanon when Beirut was part of the Ottoman Empire – and it became known as the region’s best women’s boarding school. In 1924, the school started a two-year junior college curriculum and became known as the American Junior College for Women. By 1949 it was renamed the Beirut College for Women (BCW). Two years later, the Board of Regents of the University of the State of New York continued on page 9 LAU A Harvard Business School Model of Educational Entrepreneurship In the 21st century, where innovation and productivity rule the day, human capital is key to prosperity. Hence, parents worldwide look for organizations that deliver first-class education to their children. One such organization is SABIS ® , with more than 120 years of experience in education; a global network of schools in 15 countries; and more than 56,000 students. Since its founding in 1886 in Lebanon, SABIS has understood that education thrives through best practices that apply to dynamic economic sectors. That is why SABIS regards education as a business, applying accountability at all levels and scrutinizing efficiency and costs – continually improving perennial essentials that empower students to face the challenges of an ever-changing world. SABIS measures success by the value added to each student’s academic skills and social responsibility. The SABIS educational model is more than words. In the U.S., the organization started a private school in Minneapolis in 1985. In 1995, it was granted its first charter school. Today, SABIS operates eight charter schools in five states. Two additional charter schools are operated under license from SABIS in New York City. Applying patented teaching methods and management practices, SABIS has enabled almost all its American students from all backgrounds to attend universities and succeed in higher education. In fact, SABIS was recently the focus of a Harvard Business School case study that showcases its strategic growth targets. The case study illustrates SABIS as a model for business school students learning about global entrepreneurial ventures.
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