Interesting People mailing list archives
IP: COMMENCEMENT REMARKS, LAWRENCE T. BABBIO, JR. STEVENS INSTITUTE OF TECHNOLOGY
From: David Farber <dave () farber net>
Date: Thu, 24 May 2001 16:14:49 -0400
Larry is Vice- Chairman aNnd President of Verizon Communicationsand a Board memb er of Verizon Wireless. He is the Cahirman of the Board of Trustees of Stevens (which I also serve on). There are very interesting perspectives in Larry's talk. Worth reading. Dave Introduction by Hal Raveche, President, Stevens Institute of Technology: THANK YOU PRESIDENT RAVECHE, VICE CHAIRMAN DE BAUN, TRUSTEES, FACULTY, PARENTS, FRIENDS AND MEMBERS OF THE GRADUATING CLASS. THESE MOMENTS ARE AS ANXIOUS FOR THE SPEAKERS AS THEY ARE FOR THE STUDENTS AND THEIR FAMILIES WE SPEAKERS FEEL SOME CONSIDERABLE PRESSURE TO IMPART WORDS OF WISDOM THAT ARE TRULY MEMORABLE. THIS AT A TIME WHEN YOU ALL HAVE LITTLE PATIENCE FOR LISTENING WE KNOW YOU CAN'T WAIT FOR US TO DEPART SO YOU CAN GET ON WITH WHAT YOU CAME FOR GETTING YOUR DEGREE AND CELEBRATING. DESPITE THAT, I WOULD STILL ASK THAT YOU SPARE ME JUST A FEW MINUTES TO EXPRESS MY DEEPEST APPRECIATION TO PRESIDENT RAVACHE AND THE TRUSTEES FOR THIS HONOR AND THEN TO SHARE A FEW THOUGHTS WITH YOU ON THIS SPECIAL DAY. FROM AN OPPORTUNITY STANDPOINT ..WE ARE TRULY IN THE BEST OF TIMES. IF THE INTERNET MANIA HAS PASSED, THE INTERNET ERA HAS ONLY JUST BEGUN - AND IT'S YOURS. YOU MIGHT NOT BELIEVE THAT AS YOU LOOK AT THE STOCK PAGES OR LISTEN TO THE MORNING NEWS REPORTS BUT I ASSURE YOU - AS GRADUATES YOU ARE STILL AT THE DAWN OF AN INFORMATION AGE THAT WILL SWEEP US THROUGH THE NEXT DECADE. AND WHETHER YOU'RE BUILDING THE SYSTEMS TO CARRY THIS INFORMATION, DEVELOPING AND DISTRIBUTING CONTENT, OR WORKING DIRECTLY WITH CUSTOMERS, YOU'LL BE CHALLENGED TO KEEP UP WITH THE VORACIOUS EXPECTATIONS OF END-USERS WHO ARE ONLY IN THEIR TEENS TODAY. SO THE CHALLENGES AHEAD ALSO PRESENT SOME FASCINATING OPPORTUNITIES. I MAKE THAT OBSERVATION BASED ON HOW I SEE THE BASIC INFRASTRUCTURE OF THE NATION'S BUSINESS ENVIRONMENT . DESPITE WHAT YOU HEAR, IT IS SOLID WHAT YOU SEE AT THIS MOMENT IS A SHAKEOUT OF ALL THE OVERPRICED AND OVERVALUED COMPANIES THAT WERE BUILT ON A HOPE AND A PRAYER AND ONCE THAT SHAKEOUT IS OVER, THE BUSINESS ENVIRONMENT - AND YOUR CAREER PROSPECTS - WILL BECOME MORE STABLE AS WE GO FORWARD. THOSE COMPANIES THAT COME THROUGH THE TURBULENCE WILL INTRODUCE PRODUCTS AND TECHNOLOGIES AT A RATE NEVER BEFORE SEEN. AND THE SURVIVORS WILL NEED SMART, ENTREPRENEURIAL GRADUATES TO HELP WITH NEXT GENERATION OPTICAL NETWORKS OR VOICE OVER IP PROTOCOL, OR WIRELESS HANDHELD DEVICES THE OPPORTUNITY IS THERE FOR THOSE WHO GO AFTER IT. YOUR CHALLENGE IS TO TRANSFORM THE OPPORTUNITY TO YOUR ADVANTAGE. WHEN I GRADUATED HIGH SCHOOL, MY PARENTS DIDN'T HAVE ENOUGH MONEY FOR TUITION AND BOARD. THEY TOLD ME TO FIND THE BEST SCHOOL I COULD AND COMMUTE SPEND IT ON TUITION, THEY SAID, AND NOT ON FOOD I GUESS MY MOTHER HAD BEEN TO THE CAFETERIA HERE SINCE I LIVED IN JERSEY CITY, THE DECISION WAS EASY THE BEST ENGINEERING SCHOOL IN THE AREA WAS RIGHT NEXT DOOR AT STEVENS. MY ACADEMIC CAREER HERE WAS DIFFICULT .AS I'M SURE YOURS WAS BUT EVENTUALLY IT BECAME REWARDING ..AS I HOPE YOURS WILL BE .SO I URGE YOU LOOK AT WHAT YOU HAVE. LET'S ASK A BASIC QUESTION .WHAT DID YOU LEARN HERE .IF YOU'RE LOOKING AROUND, THAT'S NOT A GOOD SIGN SERIOUSLY . WAS IT PHYSICS, CHEMISTRY, CALCULUS, THERMODYNAMICS .IF YOU LEARNED EACH OF THOSE SUBJECTS AND A FEW DOZEN MORE, THEN YOU DID OK . BUT YOU HAVEN'T REALIZED WHAT YOU REALLY LEARNED. WHAT IS SO POWERFUL ABOUT YOUR EDUCATION HERE IS, STEVENS' VISION IS FULLY IN SYNCH WITH THE REAL-LIFE DEMANDS OF THE BUSINESS WORLD. STEVENS HAS CHALLENGED YOU TO FOCUS ON A RICH COMBINATION OF SUBJECTS AND DISCIPLINES. BUT EVEN MORE IMPORTANT, THE COLLABORATIVE PROCESS THAT BROUGHT YOU TO THIS DAY IS EQUALLY POWERFUL. EVERY FACULTY MEMBER HERE TODAY KNOWS THAT HIS OR HER INDIVIDUAL CONTRIBUTION IS ABSOLUTELY ESSENTIAL TO THE UNIQUENESS OF THE STEVENS CURRICULUM -- BUT NO ONE BELIEVES THEIR CONTRIBUTION STANDS ALONE. YOUR PROFESSORS KNOW THAT EVERY RESEARCH PROJECT - EVERY PUBLICATION - EVERY LAB - EVERY CLASS AND TEACHING STRATEGY WORKS TOGETHER TO GIVE YOU THE TOOLS, CAPABILITIES AND CONFIDENCE YOU NEED TO DISTINGUISH YOURSELF. IN BUSINESS, JUST AS IN ACADEMIC LIFE, YOU'LL FIND AS WELL THAT NO INDIVIDUAL SUCCEEDS ALONE . EVERYONE NEEDS AND GETS HELP -- IT MAY OCCUR INSIDE A PROJECT TEAM OR IN THE HIGHEST ECHELONS OF THE CORPORATION. AND THAT SUPPORT WILL PROVIDE YOU WITH THE INTELLECTUAL AND FINANCIAL FIREPOWER YOU MIGHT NEVER OBTAIN ON YOUR OWN. WITH THIS IN MIND, LET ME SHARE WITH YOU SOME OF THE RULES OF THE GAME I'VE LEARNED IN THE 35 YEARS SINCE I WORE THE STEVENS CAP AND GOWN: #1 THE RULES KEEP CHANGING. ? ALL MARKETS ARE OPEN; ? CUSTOMER NEEDS CHANGE DAILY; ? COMPETITORS ARE HERE TODAY AND GONE TOMORROW; ? INNOVATION CAN BRING RADICAL CHANGE TO AN INDUSTRY ALMOST OVERNIGHT; ? NEW BUSINESSES CAN ENTER THE MARKETPLACE ON A SHOESTRING ; ? MANY OF THEM DON'T MAKE IT, BUT A SMALL PERCENTAGE DO; ? THOSE THAT DON'T AT LEAST DISTURB THE BALANCE IN THE MARKET AND PROBABLY INFLUENCE ALL THE COMPANIES THAT REMAIN; #2 CREATIVITY COUNTS OFFER A PRODUCT OR A SERVICE THAT IS HARD TO DUPLICATE AND HAS REAL VALUE TO THE CUSTOMER THE CUSTOMER IS ALWAYS RIGHT IS WRONG. BEING RIGHT IS INTERESTING DELIGHTING THE CUSTOMER IS THE KEY TO CUSTOMER RETENTION. #3 BUILD YOUR OWN ASSET CREATE YOUR OWN RESOURCE FROM WHICH YOU CAN SELL YOUR PRODUCT AND OFFER YOUR SERVICE .CREATE INTELLECTUAL PROPERTY THROUGH AN INVENTION, OR CREATE REAL PROPERTY THAT PRODUCES REAL VALUE. #4 SPEND MONEY LIKE IT'S YOUR OWN TOO OFTEN IN THE PAST, COMPANIES HAVE BEEN RUN WITHOUT REGARD TO HOW THEY SPENT MONEY, USUALLY BECAUSE THEY WERE SPENDING SOMEONE ELSE'S. UNFORTUNATELY, FOR THEIR FOUNDERS AND THE PEOPLE WHO INVESTED, THESE COMPANIES ARE NO LONGER IN EXISTENCE. THEY SPENT MONEY LIKE THERE WAS NO TOMORROW .AND THEY WERE RIGHT. FOR THEM THERE WAS NO TOMORROW. #5 DISCIPLINE PREVAILS ..HAVING A GREAT STRATEGY IS INTERESTING, BUT FOCUSING ON RESULTS IS IMPORTANT . THE DIFFERENCE BETWEEN AVERAGE COMPANIES AND GREAT COMPANIES IS NOT THEIR STRATEGIES, BUT THEIR ABILITY TO EXECUTE . THAT IS EXTREMELY TOUGH, AND REQUIRES DISCIPLINE AND FOCUS. #6 CARE ABOUT YOUR PEOPLE .YOU CAN ONLY GO SO FAR WITH AN IDEA AND SOME ASSETS. EVENTUALLY YOU HAVE TO MULTIPLY YOUR EFFORT . YOU CAN ONLY DO THAT WITH HELP FROM REAL PEOPLE THEY WILL ONLY RESPOND TO YOU IF YOU TRULY CARE ABOUT THEM. DIVERSIFY YOUR WORK FORCE USE EVERY OPPORTUNITY TO DRAW FROM EVERY CULTURE AND CROSS SECTION OF SOCIETY TO GET HELP..YOU WON'T UNDERSTAND YOUR CUSTOMER BASE IF YOU DON'T. OF COURSE YOU CAN'T DO THIS ON YOUR FIRST DAY ON YOUR NEW JOB, BUT AS YOU LOOK AROUND THE COMPANIES YOU HAVE CHOSEN TO WORK FOR, I WOULD CHALLENGE YOU TO SEE IF THEY DO THESE THINGS IF THE ANSWER IS YES, THEN YOU COULD BE ON THE RIGHT TRACK .OF COURSE, THERE ARE MANY OTHER THINGS THAT NEED TO GO RIGHT, BUT WITHOUT THESE FUNDAMENTALS, IT WILL BE HARD. DON'T FORGET ABOUT YOUR FAMILY THEY GOT YOU STARTED, AND GOT YOU HERE TODAY. THEY PUT LIFE IN PERSPECTIVE, THEY KEEP YOU HONEST, AND MOST IMPORTANT, THEY LOVE YOU UNCONDITIONALLY. DON'T FORGET YOUR FRIENDS .THEY WILL BE WITH YOU EVERY DAY THEY WILL TELL YOU WHEN YOU'RE SCREWING UP . AND THEY WILL CELEBRATE YOUR SUCCESS. DON'T FORGET YOUR SCHOOL .IT HAS INVESTED AN ABUDANCE OF TIME AND ENERGY PREPARING YOU FOR THE NEXT STEP OF YOUR PROFESSIONAL JOURNEY . REMEMBER ALL YOU LEARNED KEEP IN TOUCH WITH THE PEOPLE YOU MET HERE. WHEN YOU'RE A HUGE SUCCESS, MAKE SURE YOU COME BACK AND PASS ON YOUR IDEAS, SO THAT THE NEXT GENERATION OF STUDENTS WILL GET THE BENEFIT OF YOUR EXPERIENCE AND YOUR FINANCIAL SUPPORT. DON'T FORGET YOUR FAITH .BECAUSE THROUGH IT ALL, HAVING SOME INSPIRATION .SOME SPIRIT SOME SENSE OF CALM AND WELL-BEING WILL HELP YOU BALANCE YOUR LIFE WITHOUT FAITH, YOU COULD BE A FINANCIAL SUCCESS . BUT YOU WILL NEVER BE A WHOLE PERSON AND THAT SHOULD BE YOUR GOAL TO BE A TOTAL SUCCESS GOOD LUCK TO YOU ALL AND GOD SPEED. THANK YOU. For archives see: http://www.interesting-people.org/
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