Friday, January 27, 2006

Education in School, College/University

One could be successful in business if they have desire and passion. Any IQ over 125 is wasted in business/investments. At Wal-Mart (World's No. 1 retailer), ordinary people without any college education are doing extraordinary things that make it great. Mrs. B (who is a founder of Nebraska Furniture Mart, one of the successful furniture mart in the US) was a Russian emigrant who not even know how to speak English when she first arrived in the US but later learnt from her 5 year-old daugther. She even successfully defended herself in the court when a competitor sued her for charging prices that were TOO LOW. She told the judge that she paid $ 2 per sq. yd. for a carpet, and sold it for $ 3.98 per sq. yd. while her competitor sold at $ 5.98. She told the judge that if she raised prices she would be robbing her customers. "How much should i rob my customer?" The judge dismissed the case and rushed to her mart thousand miles away to buy from her. While at the same time, we can see so many highly educated people manipulate accounting to create an accounting called "Creative Accounting" just for the sake of their BIG, FAT remuneration, there is a reason for a revamp of our education system. The problem we are facing now is a quality of teachers for our next generation. While is the past, we have quite of number of teachers who is high quality, presently, we lack of such high quality teachers. This is no surprise since women in the past have less choices for their carrer but into education; nowadays, they have plenty of choices in their carrer path. We should think of ways of how to attract those high quality teachers into education for a better future of our next generation.

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