What has educational attainment got to do with business success? Is there any truth to the general belief that highly-educated people tend to be more successful than less-educated ones in the area of business? An absolute affirmative answer cannot be given because of the exceptional people who have managed to make their mark in the world of business without the benefit of a college or a master’s degree.
The inclination towards furthering education has much to do with the degree of competitiveness in today’s business climate. Owners cannot afford to rely on purely traditional ways of doing business. The level of competition between businesses dictates knowing how to apply advances in technology in the actual operation. Hiring knowledgeable people to do the job for the owner still requires at least a working knowledge to better understand where the business is being propelled to.
Statistics would show that the households with the highest income and wealth in the US are also the households that possess the highest educational attainment. This tends to support a strong relation between income and education and lends credence to the belief that highly-educated people attracts more success at least in the aspect of finance.
People who have earned their master’s degrees are able to make calculated risks better than people with lower educational attainment. This is credited to the exposure and access to information and experience that is not available to everyone. It is a universal truth that access to reliable information opens up better opportunities. Trends and new developments in business in the hands of the informed are like nuggets of gold waiting to be discovered. Successful people choose to succeed and they know more than anyone else that education is part of the required package. Education is learning not only the scholastic aspect but also the professional, financial, and social dimensions of the business.