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Western Carolina University Commencement Address 1971

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  • hl_commencementaddress_1971-06_07.jpg
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  • enemy nations alike following World War Il. What is big business? Each year Fortune Magazine publishes a list of the 500 largest industrial companies in America and gives reports on their earnings, sales, and other operations and on their leaders. | think we might understand a bit more about these companies if you look at the people who are leading them. The big corporation is associated in the public mind with the big, rich man. But who are the actual officers or leaders of these companies? If you were to look over Fortunes list of the 500, you would find that very few are headed by officers who are members of the families that founded these companies. The _ vast majority of the corporate officers today are men and women who worked their way up to the top, following college and who started with no substantial Seine: capital or family connections. In my own company, most of our 32 officers handling our worldwide operations in 125 different countries came from families of relatively limited means: many of them worked their way through college with the assistance of jobs and loans. Americas current business leaders stood some 25 or 30 years ago where you stand today just leaving college. In the years ahead, your age group will control this industrial machine, without which mankind in all its billions cannot achieve its aspirations on this earth. There are some who suggest a return to a simple, primitive life-stylewithout thinking that this could only work if the earths popula- tion was very, very small. Basically, in my mind, this is a selfish and unworkable proposal.
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