Summer 2024Global Business Bulletin
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MESSAGE FROM THE DIRECTOR
Yongsun Paik, Ph.D.
Greetings! I hope you had a great summer. I am delighted to share highlights of the programs and activities from LMU's Center for International Business Education (CIBE) during the first half of 2024.
First, we organized two successful FDIB programs in South Korea and Ireland in collaboration with Florida International University (FIU) Center for International Business Education and Research (CIBER). These programs are designed to promote faculty interest in developing a course or conducting research on these countries to support the global competitiveness of U.S. businesses.
Second, CIBE partnered once again with World Trade Center Los Angeles (WTCLA) and contributed a research section, “Analysis of California FDI Patterns,” to the 2024 Foreign Direct Investment (FDI) in California report and presented key findings at the 2024 Select L.A. Investment Summit. Our research results, also published in the Los Angeles Business Journal, drew a lot of attention from the local business community and the Los Angeles Consular Corps.
Third, CIBE sponsored two field trips for students enrolled in the “Exploring Asian Culture” and "Global Sustainability: Challenges and Prospects in East Asia" courses, providing experiential learning opportunities about the business environments and practices of large conglomerates as well as small entrepreneurs in South Korea, Taiwan, and Indonesia.
For fall 2024, in celebration of Cybersecurity Month in October and International Education Week in November, we will host webinars on AI’s impact on cybersecurity and the value of overseas graduate education. I hope you will join us for these programs and continue to support the events and activities of LMU CIBE. Thank you!
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To promote the nation’s capacity for international understanding and competitiveness, CIBE hosts a year-round International Business Lecture Series for the LMU community. These events help our students gain a deeper understanding of the global marketplace.
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2024 FDIB Korea
LMU CIBE, in collaboration with FIU CIBER, hosted a Faculty Development in International Business (FDIB) in Korea program from June 22-30. The faculty delegation visited top multinational companies which provided an opportunity to interact with executives and senior managers to discuss the intricacies of Korean management. The participants gained a greater understanding of Korean business practices and explored how Korean companies such as Samsung, Hyundai, LG, SK, and Lotte have emerged as global competitors. In addition, the group attended lectures at Yonsei University School of Business and toured various historical and cultural sites. Ingrid Greene, LMU clinical assistant professor of management, said, "The trips to Lotte and Samsung were especially interesting, and I look forward to both writing a case study on doing business in Korea and supplementing an existing case study on Lotte." She continued, "The trip was first-class between the company visits, cultural opportunities, and amazing meals."
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2024 FDIB Ireland
From May 25 to June 1, LMU CIBE collaborated with FIU CIBER again to present the inaugural Faculty Development in International Business (FDIB) in Ireland program. The program was designed for educators interested in developing a greater understanding of doing business in Ireland, booming industries in Ireland such as technology and pharmaceuticals, and the importance of the Irish government and companies putting sustainability and green initiatives at the forefront. Participants visited Signify Health, Medtronic Innovation Center, and Accenture. In addition to historic and cultural sites in Dublin and Galway, participants also visited the University of Galway, Trinity College Dublin, and Queens University in Belfast where they attended lectures by local scholars and networked with other faculty.
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Global Sustainability Summit
LMU CIBE and the Institute for Business Ethics and Sustainability (IBES) presented a lecture, "Gaming and ESG Impact," featuring Dan Goldenberg, former head of sustainability/VP, CSR & ESG at Activision Blizzard. Mr. Goldenberg discussed ESG work at Activision Blizzard which has been widely recognized as a leader in ESG initiatives and reporting, especially related to carbon footprint tracking and disclosure, mitigation initiatives supporting its net zero goal, and leading social and philanthropic programs. "What happens in gaming matters," he said. "The ESG aspects of the industry are taking center stage and, in the face of this, stakeholders are demanding more information from the industry on ESG practices." His lecture was followed by closing remarks from LMU management faculty Melissa Fitzpatrick and Junghoon Park.
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Bridging Opportunities Between the U.S. and Asia
In this webinar featuring Brand LA's Ivy Arias, Team One's John Costello, and LMU alums Celine Chai and Bryant Lin, co-founders of NinetyEight, panelists explored business opportunities between U.S. companies and Asian markets and how Asian companies can unlock new markets and opportunities. The panel discussed a wide range of topics, including the importance of data, working with influencers and the age of social media, the "digitization of comms" and how companies succeed in branding and marketing in Asia. LMU M-School Co-Directors Matt Stefl and Andy Rohm moderated.
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Promoting FDI in California
LMU CIBE contributed to the 2024 California FDI report for LAEDC/WTCLA. In the report, the California FDI’s home countries and regions are clustered into four distinct groups and their defining characteristics are summarized. The findings help local governments and business communities develop more targeted and effective policies and strategies customized for different FDI sources. The report's key findings were presented by LMU Professor Richard Tang at this year's Select LA Investment Summit. The theme of the summit was "Invest in Innovation." LMU CIBE was a proud sponsor of the event. More
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CIBE Faculty Awards and Presentations
CIBE provides internal grants to LMU faculty to support research and curriculum aligned with its mission: “to increase and promote the nation’s capacity for international understanding and competitiveness.”
Faculty members presented their CIBE-funded research at a special event on April 19:
- Aidin Namin, associate professor of marketing analytics
- Julian Saint Clair, associate professor of marketing
- Madhu Viswanathan, professor of marketing
- Sijun Wang, professor of marketing
CIBE awarded the following research grants:
- Sang-Hoon Lee, assistant professor of management
- Martin Kang, assistant professor of information systems and business analytics
- Junghoon Park, assistant professor of management
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STUDENT SPOTLIGHTSJustine Bolden Wins Scholarship
Junior entrepreneurship major Justine Bolden was awarded the Los Angeles Chamber of Commerce Global Trade Scholarship. The award was presented at the Select LA Investment Summit hosted by World Trade Week Los Angeles (WTCLA) and Los Angeles Economic Development Corporation (LAEDC). To earn a scholarship, Justine submitted a two-minute video sharing how her cultural and linguistic knowledge was crucial during a supply chain and logistics internship at Tacticon Armament. Justine collaborated with overseas suppliers to ensure that Tacticon’s shipments arrived on time. "My ability to communicate in English, Spanish, Hebrew, and ongoing efforts to learn Polish and Russian allowed me to navigate cross-cultural interactions smoothly." Justine is now developing a clean and affordable curly hair care brand, with the goal of expanding it to international markets. "This scholarship will support my journey as I work toward making this vision a reality."
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Summer Internships
Each year, LMU CIBE selects students to receive funding for unpaid or underpaid internships related to international business. This year, CIBE supported four students, including senior political science major and international relations minor, Frances Carrasco. Frances interned at the City of Los Angeles in community engagement. She observed how the mayor’s office collaborates with international organizations and cultural institutions which gave insight into how cities like Los Angeles act as hubs for international business and diplomacy. Reflecting on her experience, Frances said, "Through this experience, I gained invaluable insights into ethical decision-making, government operations, the critical importance of engaging with city politics, and the significance of listening to constituents. I am confident that this internship has equipped me with the many tools I need to navigate the complexities of international business and contribute positively to the global community."
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Visiting the Taiwan Social Innovation Lab
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Students Travel to East Asia
LMU CIBE and Center for Asian Business sponsored two spring courses, “Global Sustainability: Challenges and Prospects in East Asia” and "Exploring Asian Culture." Each course culminated in travel to destinations in East Asia. Professor Alex Glosenberg led students to South Korea and Indonesia to study the role of business and entrepreneurship in supporting environmental and social sustainability. Yongsun Paik, accompanied by Junghoon Park, assistant professor of management, and Jennifer Tyler, CIBE assistant director, led the "Exploring Asian Culture" class to South Korea and Taiwan. They visited local businesses such as LG, Amore Pacific, and Lotte in Korea, and the Taiwan Social Innovation Lab and TSMC in Taiwan. Other excursions included trips to various historical and cultural destinations such as the DMZ and Gyeongbok Palace in Korea; and Fu Jen University and the National Palace Museum in Taiwan.
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Upcoming Events|
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Webinar with Sung Won Sohn: "How the Economies of the U.S. and China Will Interact in an Election Year" Register
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"Future of Taiwan: Tug of War between the U.S. and China"
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Global Talent Management Webinar
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Follow #LMUCIBE
Stay updated on the latest news and networking by following LMU CIBE on social media!
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LMU Center for International Business Education extends its appreciation to the U.S. Department of Education Title VI grant for their support.
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