This summer, innovative leaders from the Middle East and North Africa gathered together at the University of Notre Dame’s campus to partake in the second annual Reimagining Business Excellence (RBE) program. RBE is a one-week intensive program designed for business leaders who care for their organizations, the societies in which they operate, and the future of the broader MENA region. Last year, the program took place at Notre Dame’s Tantur campus in Jerusalem. This year drew individuals from across the MENA region to South Bend, and it was once again carried out in collaboration with the Mendoza College of Business, the Pulte Institute for Global Development, and the Notre Dame Deloitte Center for Ethical Leadership. The program, supported by USAID’s Building Regional Economic Bridges (BREB) Activity, builds trust and collaboration among business leaders in the region and beyond.

The program brought in 20 executives and rising stars from the region, including three Notre Dame graduate students, to foster knowledge exchange and support bridge-building activities to strengthen relationships. While attendees came from different countries, ethnicities, and professional backgrounds, they were brought together by a common goal of pursuing a better way of doing business—with a special emphasis on purpose-driven leadership and social responsibility. “I hope this project continues to grow and build more bridges of cooperation and development in our region. Notre Dame can play a significant leadership role in creating this network,” a participant noted.

This year’s case study focused on Nucleus Ventures (NV), a business support organization and venture builder based in Lebanon. The case study investigates the significant challenge of transforming a non-profit to a for-profit organization—a challenge that NV tackled in 2020 when Lebanon experienced a devastating economic crisis. Over the course of the RBE program, participants explored the ecosystem that gave rise to NV’s model shift. After examining these factors, they were tasked with answering the question: “How do NV’s decision-makers increase its profitability through the lens of ethical, effective, and sustainable prosperity?”

The mid-week panel event provided an opportunity to dive deeper into the subject matter—and hear from experts in the field of social entrepreneurship. Executive Director of Notre Dame Jerusalem Daniel Schwake opened the panel, and after additional remarks from McKenna Center Director Ray Offenheiser, the lively discussion began. The panel was moderated by Kristen Collett-Schmitt, who serves as the associate dean for the undergraduate and specialized master's programs and as a teaching professor of finance. Featured panelists included CEO and Managing Partner of Nucleus Ventures, Fouad Assaf; Cofounder and Managing Partner at INVANTI, Dustin Mix; Director of TechNexus Venture Collaborative, Cristin Pacifico; and Mendoza College of Business Associate Teaching Professor, Kelly Rubey. During the panel, they talked about the perceived tension of hybrid organizations in delivering on financial, social, and environmental impacts. Panelists brought different perspectives to the table based on their own unique and specific experiences but addressed common themes such as prioritizing purpose over profit, the dignity of work, the pitfalls of mission drift, and the importance of an ethical and socially balanced form of capitalism leading us into the future.

Interestingly, this was not Professor Rubey’s first experience with Nucleus Ventures. As part of the Business on the Frontlines (BOTFL) class in the Spring of 2021, MBA students collaborated with NV in Lebanon to launch a tech training and business incubator program to combat the unemployment crisis facing Lebanese youth. “It was a privilege to have NV return to Notre Dame and be the focus of this case,” she shares. Through her BOTFL class, she has also been collaborating with a social enterprise in the West Bank for several years. “Given the tragedy of the ongoing violence, it was really meaningful to welcome friends from the region and hear their aspirations that persist despite the current environment.”

The week concluded with the group of participants proposing a solution to the case study directly to Assaf. Many came away from RBE with ideas for potential future cooperation on various projects. Reflecting on the week’s events, Schwake shares, "We take pride in the tailored content that the program offers but are particularly proud to have convened such an exceptional group of leaders who came to learn from our faculty, but also to share and to learn from each other’s rich and diverse experience. The discussion was challenging but also inclusive and enriching." Through these exchanges, participants left with a renewed commitment to driving meaningful change, leveraging their common interest in the broader MENA region. 

Originally published by Jessie Carson at jerusalem.nd.edu on October 23, 2024.