Texas A&M CIBE Impacts Students
A group of undergraduate students from Mays Business School embarked on the experience of a lifetime and participated in the Panama Global Sustainable Business program. Students learned valuable insights into conducting business in Latin America during a spring break trip to Panama. The journey began with visiting historic sites and several companies in Panama City. They then furthered their cultural and business understanding by partnering with a local organization to create a sustainable impact within two communities in Panama’s rural Penonome region. The students conducted two business consultations with four diverse businesses and held six hours of financial literacy training that benefited 14 additional community members. They also split into small groups to address their clients’ accounting, marketing, and other business needs.
La Candeleria community member participating in a financial literacy training activity.
Mr. Guzman, a farmer from the El Escobal community, has a business focused on growing organic products and uses natural water sources to hydrate his crops. The students presented him with the following marketing, accounting, and financial solutions:
- Created a memorable business name, logo, and business cards for him to market his company.
- Established a manual accounting system to keep track of his company’s revenues, expenses, and inventory.
- Demonstrated how to monitor year-over-year growth to reach his long-term financial goals.
Mr. Guzman appreciated all he learned and said, “It has been a great opportunity since I was able to meet the volunteers and receive a great opportunity for my business and personal life. I hope they [other communities] can also benefit from the presentations and the advice for their businesses. Thank you for your assistance.”
Students conducting a business consultation with Mr. Guzman.
Ms. Wong owns the only ‘kiosco’ (small store) in the La Candelaria community. She aims to reduce hunger by providing affordable food for different incomes and encouraging other women to start businesses. The students assisting Ms. Wong discovered her needs included help with managing inventory, general accounting, and marketing opportunities. As a result, they developed and taught her to utilize an income statement to keep track of what she buys and her revenue. They also made her a sign visible from the road and created a logo and flyers for her business. Ms. Wong stated, “It has been a great opportunity because they provided us with excellent advice on all the topics necessary to grow our business.”
Students with Ms. Wong after presenting their final deliverables and recommendations.
Odalys, a senior finance major, said, “In addition, something that the people from the communities taught me is that no matter what conditions you’re living in or the resources you have/lack, if you have the desire to prosper and learn, then that should be no obstacle for you to reach your goals. They inspired me always to seek opportunities to learn to become a better version of myself. The community members were an example of what dedication looks like.” Emma, a sophomore business major, said “We had a wonderful opportunity to work with Ms. Wong. We were able to help her improve her inventory recording, make a marketing plan, and offer a few other tips regarding her store. I felt so overjoyed because I was able to help someone with the knowledge I obtained from Texas A&M.”
The Panama Global Sustainable Business program is one of many impactful experiences supported by our U.S. Department of Education CIBE grant. The two distinct experiences on this 10-day program enabled students to learn about Panama’s history and culture and its impact on the world’s economy. Additionally, the opportunity for these students to visit local businesses in Panama City, and engage small entrepreneurs in rural Panama provided a perspective not possible from the U.S. These unique experiences that allow hands-on-learning and engagement with locals help develop our future leaders and instill the global mindset and Aggie core values within our Mays Business School students.
Group visiting the Miraflores Locks at the Panama Canal.