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>So if we're talking about financial wealth, we're supposed >to take out athletes and entertainers because if i'm reading >correctly, you assume that they a. got lucky, b. don't use >mental abilities to achieve, c. singing, dancing, or playing >a sport is a less admirable accomplishment than studying >mergers and acquisitions? This sounds kinda odd considering >we're having this debate on an...Entertainer's website who >seems to demonstrate those skillsets you described as being >advantagous for corporate sucess.
This discussion is one on success in the Business world, is it not? In other words, we're talking about Entrepreneurs and Business Professionals.
Athletes and Entertainers can be classified as neither, as Business acumen typically has little bearing on their success and their lack of said acumen often reveals itself in the entertainers who declare bankruptcy, have less money after they were famous than during, etc.
Hence the reason they don't belong in this conversation, since we're having one about the relevance of big name college degree with respect to succeeding in the business world.
>They are exceptions to the rule, but not the rule...but >again, I subscribe to a different school of thought. Who >made the rules, who are the rules made for? Who says you >can't change the rules...i'm an agent of change, not a yes >man and I guess that's why i've gotten thus far in my >career, for not be scared to think outside of the box or not >trying to be like everyone else.
Your school of thought is entirely irrelevant, as we're (again) discussing the value of a big name degree with respect to succeeding in the Business world, insofar as it being more valuable than having a degree from a non-name school.
Providing that you can succeed without it, or stating that you're going to do things "your way" doesn't change my thesis that having said name degree can be quite beneficial.
Deciding to pick Harvard over Drexel has nothing to do with "thinking differently" or being a "yes man" it has to do with recognizing that you can leverage the former more than the latter, not to mention the connections you can make.
The argument here is whether or not a name degree is more valuable than a no-name one, I'm arguing yes and I have evidence to back up my claim.
How you or I wish to do things is not relevant.
>>Third - Go to Blackenterprise.com - and check out the their >>list from either Jan or Feb of 2000 - they had a list of the >>top 50 Blacks in Corporate America, people at the top of the >>corporate game to the point that even if they ran their own >>biz, chances are they would earn less, have less impact, >>stature and wealth. The vast majority went to name schools. > > >Again, Black Enterprise is geared towards those of us who >are in Corporate America. Business school teaches you that >small business is the driving force behind American capital.
Well, they say that small businesses are an important part of our economy ON AGGREGATE moreso than individual, due to them employing a lot of people (ON AGGREGATE) and spending a lot of money as a group.
Additionally, Microsoft, Wal-Mart, Apple, Dell, etc, were all small businesses at one point in time, so the next grew fast growing company in America is currently a small business somewhere.
When it comes to American capital, foreign investors are the driving force behind that, but that's a discussion for another day.
> Per capita, i'd argue there are more blacks doing >sufficiently well in small business than in corporate >America. In fact, i'm quite sure.
First - To have this conversation, we need to define what is a small business as the term is VERY nebulous. It could mean a mom and pop store, a McDonald's franchise or a regional chain of Grocery stores that generate 7-figures in operating income.
We also have to realize that many of these businesses are just privately held corporations and anyone working for them (and the owners) should be considered part of Corporate America
Second - Where is your data that backs up your statement? I'd like to see it because my data disagrees with you.
My data breaks down like this:
http://www.census.gov/econ/census02/sbo/sboadvance.htm
Blacks only make up 1.6% of Business Owners that have paid employees, out of 7.7 Million total Business Owners, for a grand total of 123,200 Black owned businesses with employees. Now, I will say you could have various types of businesses that are doing well with no employees, BUT - it's not a stretch to say that the ones with employees average a higher level of income from their business.
http://www.blackenterprise.com/ArchiveOpen.asp?Source=ArchiveTab/2000/02/0200-50.htm
According to the Dept. of Labor in 1998 they were 19 Million Administrators, Execs and Managers in the workforce, (Basically Middle Managers or above) of that group 7.2% were Black for a total of roughly 1.37 Million.
Now let's assume that all of the Black owned business owners were counted as managers or execs by the Dept. of Labor (There is undoubtedly some overlap) - it still means that about 1.2 Million or nearly 10X the number of Blacks are working at the Middle Manager level or above in Corporate America than are business owners.
Now to break this down further, we'd have to take out companies that can make the BE 100 lists because those companies should be considered part of corporate America.
Next we'd have to do a drill down with respect to average income and net worth of the corporate America group vs. the Small Business group.
I seriously doubt the Small Business Group would win, it's mathematically impossible actually.
Anyway, I'd love to see your data.
>Again, you are only speaking of corporate America...I said >generally...the top 1000 wealthy black Americans...including >entertainers, singers, and entreprenuers more so to prove a >point that no matter what the Top Named B School tells you, >the stark reality is totally different.
For the average person it's much more likely that they're going to be able to become a CPA than play in the NBA, so when discussing what is the most probably path to success for the average person, factoring in those who work in entertainment is utterly fatuous.
Additionally, since you want to "Prove a point" shouldn't the list look at Wealth, vs. time they've been wealth vs. their likelihood of maintaining that wealth? Isn't that more significant than who got a big signing bonus?
Entrepreneurs only helps my argument as according to the census: http://www.census.gov/econ/census02/sbo/educ.htm
76% of Black Business Owners have at least some college education, 46% have a degree and 25% have a grad degree, the highest percentage amongst all groups.
Wanna bet many of the wealthiest ones went to top schools? Or have a higher avg. wealth on aggregate, all it takes is a few cats like John Rogers & Bruce Llewelyn to completely sku the data in my favor.
Remember, all I need are more people with name degrees to win the debate and I've already won in the Corporate Arena.
>>The CEOs of the two largest Black owned banks in America are >>Harvard Graduates. > >Okay and the richest black man in America (Bob Johnson) >didn't...again, we could go tit for tat on this one...
All I need are more Blacks who are successful in the top rungs of business to win the argument, and I've already established that pattern.
By the way, Johnson went to the U. Illionis a Tier 1 college and got a Masters from Princeton.
>>Philly Coke is a large Black owned business and is owned by >>a Harvard Grad. > >And Reggie Fowler earned a social work degree from Wyoming >and is about to become the first black NFL owner in >history...again tit for tat
You're missing the point - more Black Business Notables went to top Schools than not.
>>Of the 5 Black CEOs of Fortune 500 companies (including the >>recently diposed Franklin Raines) all went to Harvard except >>for Alwin Lewis. > >and just how big of impact are they making? And are they >really that powerful? I'm not trying to be a debbie downer >however I do enjoy engaging in intellectual debates on the >relevance of so called "name brand" education and it's >impact on ones future sucess...
Sorry hon, you can argue this all you want, but I work for a Dow Component company where its hard to get in the door if you don't have a name degree, I've worked for other Fortune 100 companies where the rule was interview the name school kids first.
You can choose to ignore it, but it's a reality.
If you're going to work in Corporate America, at least recognize the academic issues so you can adjust, there can't be a debate when the hard evidence and data back me up so strongly.
I look at the world differently can't disabuse the data.
Remember, all I need is to consistently show that statistically it's more likely that a successful person in business has a name degree.
As for impact, if you're the CEO you're the man you control budgets and decisions that can have tremendous impact. Franklin Raines may have been forced to resign, BUT, he brought that on himself AND he's had tremendous impact with respect to fighting loan discrimination and helping Blacks buy homes.
Or take it down lower, it's not uncommon for a upper-middle manager to have a 7-figure (or close) budget they either control or influence. A lot of that many goes to vendors, small companies that control a service, companies they have the power to choose at will.
That's impact.
>It's almost the same jive that Howard & FAMU kicks to you >about going to a Bethune Cookman or Coppin...like Bill >Jefferies from Paducah, KY is gonna give a dang you paid 20 >thousand a semester to go to Howard over Bethune...lol
Question: How long have you worked in Corporate America?
The idea that you refuse to believe that where you go to school can be a problem when companies are fairly up front about pursuing certain graduates first and C students from name schools are getting hired by Wall St. Firms whilst A students from State Schools barely have a shot is mind boggling.
Anyway, I guess it's just a "weird coincidence" that the the vast majority of the people in my Business Unit went to name schools, just a strange coincidence.
Peace,
M2
The Blog: http://www.analyticalwealth.com/
An assassin’s life is never easy. Still, it beats being an assassin’s target.
Enjoy your money, but live below your means, lest you become a 70-yr old Wal-Mart Greeter.
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