A $1.34 million grant from the U.S. Department of Education through its Title IV Centers for International Business program will enable the Center for Global Business at the University of Maryland’s Robert H. Smith School of Business to expand its portfolio of programs through 2026.
The primary focus will involve applying lessons of the COVID-19 pandemic to ensure U.S. companies’ competitiveness into the future.
The four-year funding commitment, renewed for the sixth time at Maryland Smith, will “support research activities that contribute to a better understanding of strategies to make a business, institution or system more resilient; and on lasting changes to the business environment brought about by the pandemic,” said CGB Executive Director Rebecca Bellinger.
Maryland Business Adapts further reflects CGB’s “strong portfolio of export promotion programs for executives and its readiness to deliver training programs with an added focus on building greater resilience to shocks,” said Kislaya Prasad, research professor and CGB academic director.
“In a globalized world, global shocks are inevitable. Of particular concern are future pandemics, climate change, global financial crises, and cyberattacks,” Prasad said. “The COVID 19 pandemic also accelerated trends such as the digital transformation of industries and has irreversibly transformed the global business landscape. U.S. companies need to be competitive in this new landscape.”
Maryland Smith also is among just 16 recipients from a competitive applicant pool for the funding. “The CIBER network allows us to do things together with other schools at a scale that we wouldn’t be able to do otherwise,” said Prasad.