College of Business and Economics

November 14, 2024November 14, 2024

Pitching their big ideas

Shark Tank meets TU at the Big Idea Pitch Competition. Budding entrepreneurs brought their best and brightest ideas to the stage last week at the 2024 Big Idea Pitch Competition in front of a panel of judges. Hosted by the Dept. of Management and the Venture Club, the competition featured 10 ideas pitched in rapid fire by eager, entrepreneurial TU students.

Ideas were judged by their scalability, creativity, and presentation by judges Adeola Ajani (CEO of Fem Equity), Molli Chang (Business Analyst at StarTUp), and Greg Vetter (author and CEO of Tessemae’s All Natural).

One of this year’s judges, Molli Chang, is a former student and top-3 winner of the Big Idea Competition and returned to share her experience and expertise with current participants. She shared how gratifying it was to see her former classmates get up on stage and pitch their big ideas. “It was amazing to see how far they’ve come, how far they’ve grown,” Molli said. “It warmed my heart to reconnect with professors and classmates.”

Here’s a rundown of the top three winners.

First Place

Name: Camila Hoyos

Idea: SynchroSound, earbuds that translate dozens of languages in real-time. The product innovation was founded to address the imminent issue of language barriers. Through the earbuds, the device will translate the language of the person speaking through the call. The product is intended for multinational corporations, tourists, health care providers, and people who want to learn different languages.

Second Place

Name: Bria Reeves, Jordon Brinkley, Albery Arriaza, Lauren Fulmer, Jonathan Yohannes, Ryan Scho

Idea: S&F Watch, a crime-reporting app for campus communities. The idea is an innovative safety platform that streamlines how students connect with campus authorities. It enables quick, discreet reporting, real-time notifications of potential threats, and alerts for nearby incidents — empowering users to stay informed and safe on campus.

Third Place

Name: Alexander Schafer

Idea: Sprout with Us, a subscription service for sustainable baby clothes. About a year ago, his brother and his wife decided to have a child. The idea was created to solve the financial strain caused by consistently buying clothes for their quickly growing child.

Check out some photos from the competition below.

November 5, 2024

Exploring the cultural significance, festivities, and community spirit of Ethiopian New Year

On September 11th, our CBE grad assistant, Bemnette Kassa, brought everyone in the office flowers and dessert in honor of the Ethiopian New Year. Unfamiliar with the Ethiopian New Year, I wanted to know more and this is what I learned…..

The Ethiopian New Year, or “Addis Amet,” holds deep cultural and religious significance, marking the start of a new season. Each year corresponds to one of the four disciples of the New Testament, with this year being the season of Matteos (Matthew). The Ethiopian calendar begins in September, believed to be the month God created the earth.

Ethiopian Orthodox Christians celebrate the New Year with religious connections, such as honoring the birthday of John the Baptist. A ceremony called “tabot” includes a church parade and songs of praise, coinciding with the blooming of the yellow “Addey Abeba” flower, which is central to the celebrations. According to legend, King Solomon once gave the Queen of Sheba this flower in the form of a ring.

Celebrations involve family and friends, with coffee ceremonies, feasts, and traditional foods like dabo, qolo, and popcorn. Children don new clothes, distribute artwork, and participate in singing and dancing. The song “Abebayehwosh,” meaning “Have you seen the flower?” is a key part of the festivities.

Ethiopia follows a 13-month calendar, starting in 7 BC, which differs from the Gregorian calendar. Even Ethiopian communities abroad celebrate Addis Amet, maintaining traditions and fostering togetherness, love, and community.

For me, the highlight of Addis Amet is singing “Abebayehwosh” with the women of my community. One of my fondest memories is when, during a New Year celebration at church, the children were invited to sing. As we sang, the elder women—our mothers, aunts, grandmothers, and sisters—joined in, creating a beautiful, unbreakable bond.

In preparation for the New Year, my family often searches for yellow flowers reminiscent of the Addey Abeba, dresses in our best yellow or gold attire, and cooks up a large feast. Addis Amet is a time for family, tradition, and joy, bringing together loved ones to welcome the year ahead with peace, prosperity, and love.

By Lisa Simmons, Assistant Dean, CBE

This story is a part of the college’s CBE Celebrates Diversity Series, which highlights student, faculty and staff stories from our diverse community.

April 19, 2024

TU’s accounting and business advisory services M.S. receives STEM designation

Program emphasizes the growing role of technology and data analytics in the accounting profession

Towson University’s accounting and business advisory services master’s degree earned designation as a science, technology, engineering and math (STEM) program from the Maryland Higher Education Commission. This designation serves as a recognition that the courses in the curriculum reflect what students need to be successful in the accounting industry today and in the future.

This designation recognizes the program’s emphasis on the growing role of technology and data analytics in the accounting profession.

“As the accounting profession has evolved, technology has played an increasingly important role in professional practice,” said Dr. Charles Russo, associate professor of Accounting and director of the M.S. in Accounting and Business Advisory Services at Towson University. “Data analytics with the use of technology pushes the profession toward higher order thinking skills.”

The program’s updated curriculum reflects the evolving demands of the profession.

The landscape of accounting services is being fundamentally reshaped by technological advancements, data analytics, and the rise of generative AI. The STEM designation highlights TU’s commitment to equipping the next generation of accountants with the modern skills they need to be successful in the profession.

A key advantage of the TU program is that it’s offered jointly by Towson University and the University of Baltimore, a partnership which began in 2004. The joint program allows students to enroll in accounting courses at both universities and offers a flexible format, including courses offered online and on-campus, making it ideal for working professionals seeking to advance in their careers.

The new designation gives international students the benefits of optional practical training (OPT) eligibility and an additional 24 months of United States residency with the STEM OPT extension on their visas. Towson University also offers a five-year accelerated dual degree in accounting (B.S.) and accounting and accounting and business advisory services (M.S.), which allows international undergraduate students to be eligible for OPT if they choose to add on the master’s degree.

Learn more about the accelerated dual degree in accounting and business advisory services

Towson University’s accounting programs emphasize high-quality academics and applied learning. In this program, students learn advanced skills in applied information technology, finance, and other relevant areas. Towson University is accredited by AACSB International (Association to Advance Collegiate Schools of Business), the highest standard for business education.

With a STEM-designated degree, students can expect hands-on learning experiences with real-world application, a high return-on-investment; and higher pay scales, job availability and longevity when entering STEM-oriented positions.

Learn more about TU’s M.S. in Accounting and Business Advisory Services program and the College of Business and Economics.

April 8, 2024

CBE Student Abigail Kuehl Wins 2024 College Cup

Antidote Haircare, a plant-powered haircare brand developed by Abigail Kuehl, a Towson University College of Business and Economics student, won the third annual College Cup.

Kuehl was one of seven finalists to pitch at the April 2 event, held at the StarTUp at the Armory in downtown Towson. She took home a cash prize of $10,000 to put towards her venture and a spot in the 2024 StarTUp Accelerator, where she will join several other founders for eight weeks to collaborate and accelerate their ventures.

“Thank you so much. I didn’t honestly think I was gonna win. I really came into it for the experience. Throughout this journey working with [the StarTUp Team] I have learned so much. Their feedback was so helpful and it was non-biased, and that’s exactly what I needed. I needed the outside perspective,” said Kuehl during her acceptance.

Kuehl boasts a wealth of experience as a master stylist and boutique salon owner and has a passion for addressing her clients’ needs. She’s committed to crafting a professional brand centered around clean, ingredient-first formulas. Along with her business partner, David Calle, they brought together product developers, stylists, and product testers to develop their brand.

“This has been a journey for me and I’ve put my heart and soul into this business. I hope you can tell. And I’m really out here to make a difference and make healthy living easier for people. That’s really the goal. So thank you again,” she added.

The College Cup is a university-wide challenge that helps students develop new socially- or commercially-oriented ideas and innovations to positively impact the world.

This year, a record number 25 student-led ventures applied for the challenge. Students came from nearly every TU college. Eventually, 15 ventures made it through all the programming, which includes a bootcamp, submitting an executive summary, a “learn to pitch” classroom session, and practicing pitching to the StarTUp team. The students also had access to and gained feedback from members of the ETU Council, a coalition of faculty and staff engaged in developing and strengthening entrepreneurship across campus.

A group of students pose together after competing in the competition. — Towson University students participated in the 2024 College Cup pitch event at the StarTUp at the Armory on April 2, 2024.

Seven made it through to the end. And, over the course of the last several weeks, they honed their ideas, developed pitch decks, and refined their pitches before pitching in front of a live audience and a panel of business leaders and TU alumni.

The other six finalists include:

Campus Connect, led by Xavier Sabree and Derek Knight: An app that connects college students with other student entrepreneurs/student-run companies on campuses.
Dropped, led by Aliya Pemberton Lightbourne: A platform/business that gives commuter students access to bus transportation to and from campus.
Events by Elle B., led by Lianna Banks: An event planning company.
MAI PT, led by Molli Chang: An app for physical therapy patients to remind them of at-home physical therapy exercises and uses AI technology to guide patients through PT goals.
My Campus Hubs, led by Andres Londoño, Jake Furtaw, Matt Dibbern, William Duckworth III, Caleb Blomquist and Ryan Kraft: An app that connects college students with each other socially, with professors and classmates academically, and with the community surrounding their campuses.
Urban Companions, led by Anastasia Kolomytseva and Eliza Petrova: An app that connects college students with shared housing options off campus.

The finalists each received $1,000 to put toward their venture.

(This article has been reproduced from EngageTU and was originally written and posted by TU StarTUp on April 4, 2024.)

January 26, 2023January 26, 2023

CBE earns extension of AACSB accreditation

AACSB International — The Association to Advance Collegiate Schools of Business (AACSB) — accreditation is the highest seal of quality business schools can receive.

Towson University’s College of Business & Economics (CBE) has earned extension of accreditation for its business and accounting programs from AACSB International — The Association to Advance Collegiate Schools of Business (AACSB).

This accreditation is the highest seal of quality business schools can receive and recognizes continuous improvement. TU is part of the less than six percent of schools that are AACSB International-accredited and the less than one percent that are accredited in both academic programs. CBE is one of only four schools in Maryland to hold both accreditations.

AACSB accreditation is the longest-standing, most-recognized form of specialized accreditation business programs can receive worldwide, yet only 949 business schools in 59 countries and territories currently have AACSB accreditation. Of those institutions, only 192 hold the additional, specialized AACSB accreditation for their accounting programs.

TU is part of the less than six percent of schools that are AACSB International-accredited and the less than one percent that are accredited in both academic programs.

Earning this dual distinction requires schools to meet rigorous standards for academic programs, as well as faculty qualifications and scholarship that are designed to challenge educators to pursue excellence. To maintain accreditation, schools must demonstrate how they meet the standards, and strive for continuous improvement, every five years through a peer review process.

In the most recent accreditation maintenance cycle, a team of outside reviewers commended TU for its emphasis on experiential learning, academic advising and career services for its students, and engagement of its advisory groups.

“This extension of accreditation from AACSB is confirmation of CBE’s commitment to excellence and of the high-quality education we provide,” said Interim Dean Judy Harris. “In particular, the peer-review team commended CBE for the depth and quality of faculty engagement and of student-faculty interactions, the dedication of CBE’s Student Academic and Career Advising unit, the strength of our assurance of learning processes, and the college’s significant social impact as measured by faculty intellectual contributions. I am so proud of the hard work of CBE faculty and staff that made this achievement possible.”

AACSB-accredited schools are recognized worldwide by top employers, and many top, global corporations only recruit from AACSB-accredited schools. Achieving AACSB accreditation is a rigorous process that assesses a school’s ability to perform in critical areas — such as teaching, research, curricula development and student learning— and ensures the programs are challenging and teach skills that give a distinct advantage in the real world.

The mission of the College of Business and Economics is to develop high-quality, innovative, and inclusive programs and resources, connect individuals to opportunities by applying theory to practice in curricular, co- curricular and scholarship activities, and transform students into professionals who will have a positive societal impact within Maryland and beyond.

The peer-review team commended CBE for the depth and quality of faculty engagement and of student-faculty interactions, the dedication of CBE’s Student Academic and Career Advising unit, the strength of our assurance of learning processes, and the college’s significant social impact as measured by faculty intellectual contributions.

Over the review period of the last five years, CBE has seen several accomplishments in program creation/revision, faculty research/participation and student impact. Highlights include:

Launching new combined B.S./M.S. programs in BSAP/Supply Chain Management and Business Administration/Marketing Intelligence
Launching new minors in Accounting, Business Analytics, and Business Law
Launching a certificate in Entrepreneurship, the first undergraduate certificate at TU
Faculty publishing 264 peer-reviewed journal articles with 47% in A* or A outlets
Providing six case-competitions in which 5,066 students participated
Mentoring CBE students in the completion of 3,558 credit-based internships

TU first received AACSB accreditation for its business administration program in 1992. In 1994, the accounting department also received AACSB accreditation. In 2008, the business administration program received its maintenance of accreditation. The accounting department followed suit in 2010. In 2013, 2018 and 2023, both programs received five-year extensions.