Even when the global economy came to a halt due to COVID-19, business still carried on. In Maryland, companies found a way to weather the storm and now they are sharing their lessons with others.
This spring, the Center for Global Business (CGB) at the University of Maryland’s Robert H. Smith School of Business is recognizing companies that persevered through the pandemic with its Maryland Business Adapts 20/21 initiative.
The new initiative seeks to celebrate the adjustments during the pandemic of Maryland companies in international business, while providing insights for topics like minimizing business risk of their global operations or preparation for sudden operational changes.
“Even during an economic standstill, Maryland companies have proven resilient and now understand better practices for rapid response and international risk management,” says Rebecca Bellinger, executive director of the Center for Global Business. “The hope is that these stories serve as valuable lessons for other companies and our students as they progress into their careers.”
Currently, the center is collecting nominations through Nov. 20 for five companies to be recognized in the first annual Maryland Adapts Business Roundtable event this spring. The center plans to produce open-source case studies for classroom use that highlight these companies’ practices during the pandemic.
During the event, the companies will be further recognized with a certificate at the roundtable panel discussion, with another opportunity to go more in-depth into their strategies with the audience.
“We are leveraging social media campaigns and reaching out to partner organizations like the Maryland/Washington, D.C. District Export Council, Maryland Department of Commerce and U.S. Commercial Service in Baltimore to elicit nominations for companies with good success stories to tell,” says Bellinger. “This is a great opportunity for companies to participate in a collaborative process where people can share ideas and be celebrated for their innovative strategies.”
Bellinger encourages everyone to nominate companies that they believe deserve recognition for their work during the pandemic and hopes this is the start of a new yearly collaboration.
“Every year there are going to be trends, events and challenges that companies have to adapt to,” says Bellinger. “This initiative can help bring people and companies together to share some of the best strategies to move forward.”
To find out more information about Maryland Business Adapts 20/21 or submit a nomination, visit the event webpage.
This event is supported in part by CIBE, a Title VI grant administered by the U.S. Department of Education.