LMU Receives $1 Million Federal Grant to Support International Business Education Initiatives

Loyola Marymount University’s College of Business Administration has received more than $1 million in U.S. Department of Education funding to expand international business education initiatives over the next four years.

LMU is one of just 15 institutions awarded a grant for 2018-22 under the Department’s Center for International Business Education (CIBE) program. The university will focus its efforts in the areas of global marketing and talent development; foreign business-language education; international entrepreneurship; and global sustainability and business ethics.

“This is a very prestigious award not only for the College of Business Administration but for the whole LMU community,” said Dayle M. Smith, dean of the College of Business Administration. “In fact, LMU is the only master’s-serving university to win this grant award since the program started.”

Established in 1988, the CIBE program provides funding to colleges and universities to support programs, instruction and research on issues of importance to U.S. trade and competitiveness.

“This grant will help us develop future global business leaders and increase global competitiveness of U.S. companies,” said Yongsun Paik, professor of management and director of LMU’s Center for Asian Business. “Maximizing our location in Silicon Beach and building upon the CBA’s strong reputation, LMU’s Center for International Business Education will play a key role in advancing existing programs to deliver a more creative, innovative curriculum in global marketing, talent management and international entrepreneurship.”

Paik and Marki Jones, assistant director of LMU’s Center for Asian Business, spearheaded the grant application, working with colleagues across LMU and within the L.A. Chamber of Commerce.

LMU’s CIBE aligns with the university’s mission to cultivate a globally imaginative campus, providing students with a transformative education that is creative and interdisciplinary.