The American Recovery and Reinvestment Act analyzed by TU experts

February 23, 2010

Thomas

February 17, 2010 marked the anniversary of the American Recovery and Reinvestment Act (ARRA) implemented by the Obama administration to boost employment and lead us out of the economic recession of 2008 and 2009.  RESI, also, held an important event on this day, our Annual Economic Outlook Conference. Ok, maybe, I exaggerate when I compare a national event to our event but it was still important to us.  During the conference, three panelists provided us with some excellent opinions on the effects of ARRA on the economy. In particular, two Towson University economists, Dr. Dorn and Dr. Rhoads, were especially knowledgeable and gave us two differing opinions.

Dr. Dorn and Dr. Rhoads

Professor Dorn opinioned that ARRA has not been an efficient policy and American taxpayers will have to pay the bill through higher taxes in the following years. In his view, the government sector is not as efficient as the private sector and increasing public sector spending does not provide as many jobs as the private sector.  He also questioned the assertion by some people that the US had many “shovel ready” projects that needed investment from the federal government.  Few of the allotted dollars have been spent on public infrastructure projects so far and maybe there were not as many “shovel ready” projects as portrayed.  In his opinion, the problem was the supply side of the economy. Instead, the Federal government should have given more tax breaks to businesses and eliminated corporate taxes for example. Also, the ARRA money would have been more efficient if the government would have given it to the private sector to spend and manage public infrastructures.

Professor Rhoads had a different take on the efficiency of ARRA. He reminded us that in extremely difficult times, the government needs to provide short term economic relief and has a legal obligation to create policies leading to full employment. In his opinion, the private sector does not have the ability to lead us out of one of the most difficult economic times facing the US economy.  Many economists participated in the craft of ARRA and found this policy necessary. According to Dr. Rhoads, another positive aspect of ARRA was that the government made sure that it did not put all its eggs in the same basket. Seemingly, the government had learned from past policy mistakes. Therefore, spending for ARRA was rightly divided in several different areas; tax breaks to businesses, extended financial support to unemployed people or people in dire economic situations, and investment in public infrastructures.  In addition, the use of monetary policy could have not been as successful. The federal interest rate has been kept at almost zero percent since 2000, which meant that it was not as effective as before.

These two distinguished experts made some excellent arguments regarding the efficiency of ARRA.  And I left with so many questions of my own.

  • Was the policy crafted efficiently?
  • Will American taxpayers pay higher rates of tax in the future?
  • Should the Obama administration have implemented more tax breaks for the private sector?
  • Will more tax breaks on businesses create more jobs?

Etc… All in all the RESI conference displayed TU’s expertise at providing varied solutions to complex problems while also giving the audience food for thought going forward.

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Posted by Thomas Rumeau

Defending Your Blindside – How CEOs Build Stellar Organizations (Part 1)

February 22, 2010

Marcia

If you are sitting in front of a bankruptcy lawyer a few years from now saying, “I never saw it coming”, unfortunately you didn’t do the homework which would defend your blindside. And while it’s common knowledge that CEOs don’t like homework, it is important that someone in the organization does the assignments needed to consider the unexpected as well as “the obvious.”

Having interviewed a fair number of CEO and senior level executives in my time, I feel comfortable in making this statement.  Those who clearly know their roles and responsibilities, effectively prioritize and delegate, know how to structure an effective marketing strategy and have the respect of their employees, are the ones who are running successful organizations.

Set Vision and Strategy in Alignment with Mission, Vision and Values

It’s been said that good CEOs and strong leaders are likely to make great chess players.  They can predict the move of their opponent given most any circumstance and make these moves with fearless conviction.  Without doubt, they are highly skilled at calculating likelihoods and probable outcomes.  To me, these skill sets help make them good visionaries and strategists.

As a CEO’s primary responsibility is to set vision and strategy, I guess that means anyone interested in the position should purchase a chess set.  But even the most accomplished business visionaries and strategists won’t be effective unless they incorporate their company’s mission into their strategic growth plan.  And, while playing a game of chess won’t teach you how to craft a mission statement, it may hone your skills to think through various alternatives and options.

The creation of vision and strategy is dependent on a clear mission of what the organization is to accomplish.  Unfortunately, sometimes an organization’s mission gets lost in the heat of competition, an urgency to do what is necessary for survival and appetite for growth.  This being said, you will need to set up checkpoints to determine if your mission is being upheld and how to get it back on course if derailed.

Not having and measuring an organization against its mission statement is like going on a road trip without a map (or global positioning system).  A mission statement guides the actions of an organization, spelling out its overall goal while providing a general sense of direction for decision making.  A CEO’s role is to define their organization’s mission and ensure that their senior management team can implement and support it.

A clear vision will keep an organization on a path that is consistent with its mission. Positive and inspiring, a vision statement should clearly state the future direction of the organization, focusing on what the organization is to become.  It should be communicated and displayed in a variety of ways to your most important stakeholders. (Employees, customers, prospects, strategic alliances, investors, etc.)  Short-term thinking, tradition, fear of ridicule, complacency and fatigued leaders can often “kill” the development of a vision statement.

To ensure your organization’s mission and vision are implemented as they should be, a CEO needs to set and implement a set or core values.  Values drive a business’s culture and priorities and translate to shared beliefs among stakeholders.  For example:  Respect is a common value many organizations try to instill in their business culture.  Excellence and teamwork are two other values. An example of a statement that supports the value of excellence would be:  We conduct ourselves in a way that results in the best possible outcomes and exceeds expectations.

When creating value statements, you want to make sure that you have organizational “buy-in”.  A focus group like exercise, which includes a cross-section of employees, can be used as a good platform to build value statements.  Promoting how employees fulfill and apply the value statements can be listed as success stories in company newsletters, ads, flyers, on your website and even on posters displayed throughout your organization. Including how employees exemplify values in a performance review will assist managers in making sure values are upheld.

A CEO’s responsibility to create mission, vision and values statements as building blocks for his or her organization is critical.  Having these statements defends your blindside both internally and externally allowing for a 360-degree view of your business environment.

This blog is the first in a series of articles relating to a CEOs job description.  It is posted monthly in Towson University’s e-connection newsletter and will soon be available on the MD SBDC Central Region website:  www.centralmdsbdc.org

Roles and responsibilities of an effective CEO will also be the first topic covered in the upcoming CEO Accelerator Executive Training Series. If you would like to receive notifications of this and other training series events, include your contact information below.

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Posted by Marcia Bennett

Towson University’s advocacy efforts are “In Session”

February 19, 2010

Bobbie

We are just over a month into the 2010 Maryland Legislative Session.  The 90 day session will end on April 12th (unless we see a joint resolution passed to extend it) and will include actions on over 2300 bills and the passing of the state budget.  Within all of those bills just about every industry is affected and higher education is no different.  Because Towson University is a public-state institution we pay very close attention to what is happening in Annapolis and do our best to be actively engaged with our legislators and elected officials.

“The Towson Advocacy Program (TAP) is a grass-roots effort to gain support for public higher education in Maryland, and more specifically, for Towson University’s legislative initiatives”

TAP is coordinated through our Office of Alumni Relations and is open to Towson alumni, staff, and friends who are interested in supporting Towson University’s advocacy efforts.   By “Tapping In” you will receive a weekly e-newsletter that includes valuable information on upcoming bills, interviews with important state officials, and updates on Towson University initiatives.   Most importantly, you will be provided with the resources and support needed to effectively advocate on behalf of Towson University.  I recently attended the TAP Legislative Luncheon to learn about what to expect this session, click here for pictures!

President Caret has said on numerous occasions that Towson University needs the support of our Alumni and Friends in many ways including; Financially, Politically, and Emotionally (especially when things get tough).   Each session, President Caret presents testimony on behalf of Towson University to both the House and the Senate, TAP members are invited to attend these testimonies which will take place next Monday and Tuesday.

Yesterday, 80 Towson University students met with legislators as part of the 11th annual Tiger Pride Day in Annapolis.  This annual event is a great opportunity for the legislators to hear both from TU students and in some cases their own constituents about how their decisions in Annapolis are affecting them including, tuition affordability, access, and civic concerns. Each year the Student Government Association publishes the Student Legislative Agenda to articulate their priorities for the year.  To view the 2010 agenda, click here.

2010 Tiger Pride Day, February 17, 2010

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Posted by Bobbie O'Connell

Behind the Scenes of the Economic Outlook Conference

January 28, 2010

Raquel

In less than three weeks, RESI will be hosting our yearly Economic Outlook Conference.  Preparations for this have been underway for months and its crunch time for everyone on staff.  I thought it would be interesting to go “behind the scenes” here at RESI to get a small glimpse of everything that goes on in anticipation of our big yearly event.

It all begins months ahead of the scheduled event when a variety of staff members begin to brainstorm themes and ideas for the next conference.  Generally, the theme of the conference ties in to the current economic climate.  For example, the last two years, our conference has been focused on green or environmental topics.  We have hosted a variety of subject matter experts and have (hopefully) sparked more conversation about the significance of these ideas to Maryland’s future economy.

Click here to see full graphic.

A couple of months ahead of the conference our group begins to brainstorm possible indicators and the layout of the Outlook Presentation.  The Outlook presentation, presented by Daraius Irani, is the kick-off event to the conference.  It’s a detailed look at the current and future state of the economy – both here in Maryland and the US.

Once we have a theme, we are able to run with that idea.  Everyone has a hand in collecting data, making charts and graphs and making sure that the presentation is clear and concise.  It’s a lot of work and requires a keen eye for detail and (I think) a little bit of creativity.

Our print deadline usually comes a week before the event.  This is the time when we must have the presentation ready to head off to the printers to get jazzed up and be ready for the conference.  It’s a mad scramble those last few days to check and double-check data and formatting.  Once that’s off it’s a big sigh of relief.  The final hurdle comes just a week later when the presentation finally goes ‘live’ in front of the attendees.  At that point, our job is done and it’s Daraius’ turn to wow everyone with his insight and analysis.

Although Conference preparations take a lot of staff resources, it’s a great time for everyone to work together as a team for one common goal (the celebratory happy hour after the event!).

Click here to register for the 2010 Economic Outlook Conference!

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Posted by Raquel Huezo

Business + Basketball

January 27, 2010

Bobbie

“Building your Network” is no new concept, but in this economy the importance of getting your name out there is more imperative than ever!  There is no shortage of networking opportunities in the Baltimore region but in two weeks Towson Athletics is giving networking a different spin.

On February 10th, Tiger Men’s Basketball is taking on the  UNC Wilmington Seahawks at home in the Towson Center Arena.  From 5:00-7:00 TU Athletics, in partnership with Baltimore County Chamber of Commerce, Towson Chamber of Commerce and many others, will be hosting the first “Tiger Networking Event!”

Why I’ll be there:

  • Access to business leaders from across the Baltimore Metropolitan Area
  • The perfect networking event to tag-team with my sports enthusiast fiance
  • Registration includes heavy hors d’ourves and drink tickets
  • Chance to use my yellow foam finger to cheer on the Towson Tigers!

Attendees will also have a chance to be a part of the LIVE broadcast “CAA Game of the Week” that is televised regionally on MASN.

Register Now because space is limited and is filling up quickly.

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Posted by Bobbie O'Connell

Women Business Owners Plug In and Power Up

January 7, 2010

Marcia

Women business owners have a lot of positive attributes in common.  They are generally organized multi-taskers who are deliberate in their actions and succinct in their responses.

While women generally don’t waste any time getting to the point, they are the first to ask for more information if needed.  But according to author, speaker and organizational development expert Joni Daniels, “sometimes women misunderstand their power as a professional.”  Daniels’ experience in working with business owners finds that while men tend to ask for validation that solutions they use for business are the best ones, women often hesitate and ask, “How can I become more powerful?”

Joni Daniels

Speaking recently to 30 women business owners at SBDC’s December women’s business roundtable at Towson University, Daniels presented her insights on the topic:  Energy and Focus:  Where it went and how to get it back.  Here it was clear Daniels undoubtedly knew how to effectively engage an audience.  Her leadership abilities and facilitation skills evoked earnest, heart-felt and productive conversations which brought lucidity and insight to a group of confident women entrepreneurs ready to collaborate about issues in common.

The group of Baltimore women entrepreneurs hung on every word as Daniels delivered a highly spirited and spontaneous presentation on how to activate one’s personal power tools to improve concentration and enliven a vision of success. Juggling multiple roles and self-imposed heavy work/life expectations were the root cause of many misplaced priorities, resulting in lack of energy and loss of focus.

Educating her audience on how to retool and realign their personal and professional life, Daniels proposed re-harnessing one’s inner strength as a more effective means to power up. Daniels advocates that improved utilization of one’s vision, intuition, parameters, communications and relationships, can help re-position them for personal and professional success.

Steadfast in her belief that success is primarily bred by improved self realization, polished intuition and honed skill sets, Daniels recharged this group of enterprising women to be more effective and efficient.  Personal experiences and working examples yielded many ah-ha moments as collaborative conversation helped the group identify opportunities for personal and professional growth.

As a select trainer and subject matter expert on organizational development for SBDC’s CEO Accelerator program, Joni Daniels-principal of Daniels and Associates, a Baltimore-based business solutions consulting firm- will continue to shepherd SBDC business owners through her empowerment zone processing model.

If you are interested in attending SBDC’s CEO Accelerator training topic sessions, include your name, email address and phone contact information in the return section of this blog.  We’ll contact you with updates on the CEO Accelerator training schedule series featuring topics such as: goal clarification, problem assessment and delineation, target market analysis, and effective business optimization techniques.   Stayed tuned for our January 25th blog to find out more about the CEO Accelerator program.

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Posted by Marcia Bennett

Get into step with the Maryland National Guard Forums

January 4, 2010

Sharyn

I’m planning to attend the Maryland National Guard Forum on Veterans Reintegration on January 12, 2010. I thought it would be interesting to hear first hand from Cheryl Mannon, from Towson University’s Academic Affairs division, about her experience planning the event and what attendees can expect. Here’s what she had to say:

Q: The Maryland National Guard is sponsoring a series of forums at Towson University. The first one is coming up on January 12 and the focus is on higher education and business. What can attendees expect?

A:    The first day is designed for post-secondary educators (community colleges, universities and trade schools) and will inform them about the unique challenges that returning veterans face on our campuses.  We have speakers who  have developed programs, MD National Guard experts in educational benefits and student and administrator panels to discuss their experiences on campus.   Educators will work in teams to develop ideas for action plans to  take back and implement on their own campuses.

Q: Who are the featured speakers for the forum on January 12?

A:  We’re very happy to have Dr. John Schupp, from Cleveland State University, who has started a unique veterans program on his campus and Buzz Williams, a Towson alum and author of “Spare Parts:  A Marine Reservist’s Journey from Campus to Combat in 38 Days”, a memoir of his experience as a student being deployed during the Gulf War.  We have reintegration  and benefits experts from the MD National Guard, several behavioral health professionals discussing challenges to the individual and to families and a chaplain to talk about community support for our student vets.

Guest panelists from local schools include representatives from Anne Arundel Community College, Community College of Baltimore County, University of Maryland, University College, Towson University and Montgomery Community College.    Each of the panelists have worked on veterans programming at their institutions and will share their successes and challenges.  Finally, there will be a veteran student panel to talk about their experiences on campus with ideas on improving our support systems.

Q: How did Towson University get selected to host the event?

A:  One of our adjunct professors in the Psychology Department, Dr. Christine  Harnett , works with the MD National Guard on reintegration issues and recommended us to the director of reintegration programs, Lieutenant Colonel Michael Gafney.

Q: What other events are planned as part of this forum series?

A: On January 13, the second day of the series will focus on employing and integrating veterans in the workforce.  There are many government programs available to employers who hire vets and many employers who promote hiring and training of veterans.   We’d like to begin a network for veterans across  the state of educators and employers.

A third conference may be held in June on campus and will focus on medical and behavioral health professionals in the community.

Q: What is the cost to attend the forums and how does someone register? Can anyone attend the forum?

A:    The Maryland National Guard has sponsored this event with the stipulation that it be free to all participants.    Registration is online at www.towson.edu/nationalguardexpo .  The event is open to all registrants (space available) although it is tailored specifically to post-secondary educators.

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Posted by Sharyn Kuczka

A Signature Partnership: Towson University & Building STEPS

December 9, 2009

Bobbie

Building STEPS was founded in 1995 by Matthew Weinberg, CEO of The Weinberg Group, and is structured as an internship program designed to expose minority students to workplace dynamics and encourage post high school education, with an emphasis in science and technology. The decade old non-profit is headquartered at TU and their offices are right across from where I spend most of my day typing away on my mac in the Administration Building.

The Building STEPS program has served over 252 high school Juniors and Seniors since their inception and continues to have astounding results, like:

  • 94% of their students have gone on to college
  • 11 of their students are in masters doctoral programs
  • 100% of their students receive academic scholarships for college

The exposure these students receive is first-rate and includes seminar days to Northrop Grumman, a behind the scenes tour at the National Aquarium in Baltimore, University of MD Biotechnology Institute, and a visit to Dr. Jim Saunders’ classroom in our very own Smith Hall.  This year, Dr. Saunders hosted 60 Building STEPS students in October.  Some of the hands-on activities in the past have included a:

Lab experiment with Dr. Saunders

The Division of Economic and Community Outreach has been fortunate in the past few years to have a few Building STEPS interns with us over the summer.  Recently, we interviewed them for our ongoing “Education Meets the Workforce” series.

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Posted by Bobbie O'Connell

Event Wrap-up: Towson University, The Crossroads School, and GIS Day

December 3, 2009
Jeremy

Jeremy

Last month my blog focused on Towson University’s CGIS plans for November’s Geography Awareness Week. On November 18th, several CGIS employees and Dr. Todd Kenreich, Associate Professor and Graduate Director in the Department of Secondary Education at Towson University, hosted a GIS Day event on Towson University’s campus for a seventh grade class from The Crossroads School in Baltimore City.  On November 19th, several CGIS employees participated in an information session focused on informing Towson University faculty and staff members how GIS can be applied in their own work or research.

Recently I caught up with Kierran Sutherland, a GIS Specialist at CGIS and the primary coordinator of CGIS’ GIS Day activities, to discuss how the events went.

View more pictures from GIS Day!

What was the general “lesson plan” for CGIS’ GIS Day event with The Crossroads School class?

Our goal was to teach the students what GIS means and how it can be applied to work they are doing.  We did this by demonstrating to them how to create an online map, and then they got the chance to actually get some hands on experience doing it themselves.

Did you get any feedback from the students regarding the event?

There was a definite level of excitement in the students, more so than I would generally expect from seventh graders.  They seemed to really enjoy being able to come to a college campus and participate in our GIS Day mapping activity.  The most rewarding thing for the students was the final product, an online map that they will be able to update in the future as well as show off to their peers back at school.

How did this CGIS GIS Day event compare with past CGIS GIS Day events?

I think this was our most successful event.  Partly because we were able to tie our work in with what the students were doing in class.  A lot of the credit has to go to Jake Fishbein, the teacher we were working with from The Crossroads School.  Having studied here at Towson University, and earning a minor in geography, not only did he understand GIS, but also helped CGIS plan an engaging activity that would make sense to the students.

As the coordinator of the event, what did you enjoy most about your experience?

I always enjoy myself at GIS Day, but I think what stood out this year was getting a partial understanding of how the students viewed their community.  Some of the students had a few extra minutes and were pointing out what they recognized around the city, especially around their school.  It was interesting to see what they found important compared to the places I would first think to look for.

How did the information session go on November 19th?

The information session went quite well.  We had about 10 members of the Towson community stop by to learn a little about GIS and what CGIS is working on.  I was most impressed by the wide range of interests we had, from our new neighbors RESI just wanting to see what we do to a professor from the Astronomy department who was interested in how GIS can be used in outer space.

To view all pictures from the event, click here.

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Posted by Jeremy Monn

Global Entrepreneurship Week 2009

November 16, 2009
clayIcon

Clay

From November 16 to 22, 2009, millions of young people around the world, and right here in Towson and the Baltimore region, will join a growing movement of entrepreneurial people, to generate new ideas and explore ways of doing things better. Students, educators, entrepreneurs, business leaders, non-profit leaders, government officials and many others across six continents are coming together to celebrate Global Entrepreneurship Week, an initiative to inspire young people to embrace innovation, imagination and creativity.

Global Entrepreneurship Week helps young people realize their potential as self-starters and innovators.  Through this initiative, the next generation of entrepreneurs will be inspired to take action. In doing so, they will begin to acquire the knowledge, skills and networks needed to grow innovative, sustainable enterprises that will have a positive impact on their lives, their families and communities.

gew

TowsonGlobal, Towson University’s international business incubator, is serving as an official partner and is supporting the mission of the movement by participating in or disseminating information on several activities during that week, such as:

  • The Bilingual Entrepreneur Lecture Series (Foreign Languages Day)—These lectures by yours truly will help focus attention on the importance of learning at least one other language and on participating in study abroad programs, which can enhance a student’s ability to do business in today’s global economy.  This event also coincides with International Education Week.
  • JA BizTown—Junior Achievement of Central Maryland will host several elementary schools for JA BizTown throughout the week of November 16-20.  JA BizTown, is an experiential economic simulation in a 10,000-square-foot replica of an American city that helps upper elementary school students prepare for and become productive citizens.

Through the many different programs and partnerships Global Entrepreneurship Week hopes to achieve four goals:

  1. Inspire young people under the age of thirty to consider entrepreneurship as a career path.
  2. Connect young people and organizations across national boundaries to discover new ideas.
  3. Mentor the next generation of talent as they pursue their dreams with inspiring support from entrepreneurs from around the world.
  4. Engage opinion leaders and policymakers on the topic of how entrepreneurship is central to a nation’s economic health and culture.

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Posted by Clay Hickson

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