A discussion with my step daughter this afternoon
prompted me to find this article.

Myth of the Well-Educated Manager

I wanted to share it with you guys.

As I have always known “Formal education makes you
a living, if you become self-educated you create a
fortune” JIM ROHN

The #1 reason many cannot make it as an entrepreneur
is the fact their formal education holds them back because
it creates a sense of entitlement.

Nothing Can Replace Persistence

Nothing in the world can take the place of persistence.
Talent will not; nothing is more common than unsuccessful
men with talent. Genius will not; unrewarded genius is almost
a proverb. Education will not; the world is full of educated
derelicts. Persistence and determination alone are omnipotent.

“ Calvin Coolidge

HERE IS THE ARTICLE:

Myth of the Well-Educated Manager
by J. Sterling Livingston
Havard Business Review

How effectively a manager will perform on
the job cannot be predicted by the number
of degrees he holds, the grades he receives
in school, or the formal management education
programs he attends. Academic achievement is
not a valid yardstick to use in measuring managerial
potential or success in any occupation. Indeed, if
academic achievement is equated with success in
business, the well-educated manager is a myth.

Managers are not taught in formal education
programs what they most need to know to build
successful careers in management. Unless they
acquire through their own experience the knowledge
and skills that are vital to their effectiveness, they are
not likely to advance far up the organizational ladder.
Those who have effective communication and people skills
are ultimately the ones that advance. It has been
said that most A students find themselves working for C
students and our research concurs.

While effective managers are valuable to an organization,
the world pays for leadership. Leadership is the highest
paid profession in the world.

Although an implicit objective of all formal management
education is to assist managers to learn from their own
experience, much management education is, in fact,
miseducation because it arrests or distorts the ability of
managerial aspirants to grow as they gain experience.
Fast learners in the classroom often, therefore, become
slow learners in the executive suite because they are not
effective communicators and believe their formal education
entitles them to career advancement opportunities.

Men who hold advanced degrees in management are
among the most sought after of all university graduates.
Measured in terms of starting salaries, they are among the
elite. Perhaps no further proof of the value of management
education is needed. Being highly educated pays in business,
but only initially.

But how much formal education contributes to a manager’s
effectiveness and to his subsequent career progress is
another matter.

The numbers show this simply does not happen.

Professor Lewis B. Ward of the Harvard Business
School has found that the median salaries of graduates
of that institutions MBA program plateau approximately
15 years after they enter business and, on the average,
do not increase significantly thereafter.1 While the incomes
of those with a general degree continues to rise dramatically,
the career growth of most of them levels off just at the time
men who are destined for top management typically show
their greatest rate of advancement proving the thought that
people rise to their highest level of incompetence.
(The Peter Principal)

Equally revealing is the finding that men who attend
Harvards Advanced. Management Program (AMP) after
having had approximately 15 years of business experience,
but who”for the most part”have had no formal education
in management, earn almost a third more, on the average,
than those who hold MBA degrees from Harvard and
other leading business schools.

Thus the arrested career progress of MBA degree
holders strongly suggests that men who get to the
top in management have developed skills that are
not taught in formal management education programs
and may be difficult for many highly educated
men to learn on the job. The ability to communicate
effectively and motivate people seem to be at the top
of this list.

Many business organizations are cutting back their
expenditures for management training just at the
time they most need managers who are able to do
those things that will keep them competitive and
profitable.

But what is taking place is not an irrational exercise
in cost reduction; rather, it is belated recognition by
top management that formal management training and
education is not paying off and cannot replace common
sense, the ability to communicate, and work effectively
with people.

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