Commencement Address
University of Illinois MBA Class of 2007
May 12th, 2007
Thank you, Avijit! Thank you, Graduates, fellow alumni, parents, family, faculty
and friends! I am honored to be here today. I am also very happy to have my family here
today.
When Dean Ghosh asked me to speak it was an offer I could not refuse. He said,
”Mike, do you believe in America?” I said, “of course!” “Do you believe in the US
Constitution?” I said, “of course!” He said, “Do you believe in free speech?” I said,
“absolutely!” He said, “Good! Then we would like you to give one on May 12, 2007!”
I am not really sure what to expect here today because after I gave the
commencement address here in 1992, a student came up to me afterwards and said, “Mr.
Tokarz, during your presentation I was glued to my seat, otherwise I would have left!”
Regardless, I thank you for having me back. You can understand if my ego was
just a bit inflated when I was invited to speak here AGAIN. So I was sharing my pride
of a return invitation with my wife, Nancy. However, she wasn't impressed. She said,
“Remember in Detroit they refer to it as a recall!”
My son Justin said it the best -- remember Dad, you are the only thing standing
between all of those people and a giant party!
Introduction
Today is a celebration of you, the graduate, and your extraordinary
accomplishment! A Master’s Degree!! Be Proud! You have sacrificed and returned to
school for two full years! And it's been hard work! You have done it, and you have done
it well! You have made an investment in yourself!
You are Masters of Business Administration. You are in command of the subject
of business. And today, we celebrate that fact. You have earned a world-class degree
from one of the most prestigious institutions in the world! You are prepared and ready.
You have built an incredible foundation upon which to build the edifice of your career!
The future is all yours! Let us all join in congratulating the Graduates!
From now on, it is not about your grades.
It is not about the country you are from. The town you are from, or the school, it
is about you! It is about who you are! Who you will become!
I graduated from this MBA program in 1973. Back then; the top movies were
American Graffiti and the Exorcist.
The songs on the radio were by Carly Simon, Stevie Wonder and Paul
McCartney. Watergate was in the news every day. In tennis, Billie Jean King beat
Bobby Riggs in the battle of the sexes. Everyone was watching “The Walton’s” on TV.
The Ford Pinto had entered production! The Dow Jones Industrial Average was 901.41!
What is most astonishing to me is there were no fax machines, cell phones or
personal computers when I graduated in 1973. As a matter of fact, my mom and dad
gave me for my MBA graduation present the first electronic calculator! A Victor
Comptometer. It had a special feature to calculate percentages!
The first personal computer did not appear on the market until 1981, eight years
after I graduated! Today, anyone in this room can buy more computing power at the
electronics store in a hand held computing device than was used to send men to the moon
in 1969!
My how things have changed! And things will continue to change.
You will find, like I did, that your education is actually just beginning. You are
not through with problems, presentations, homework, lectures, examinations or even
grades. Fortunately, the good news is you can still get promoted! Adapt and thrive.
Look at me since I graduated I have had to learn how to use a fax! A cell phone!
A personal computer, and a blackberry!
My theme today is “It is all about you”
I have been fortunate to have a successful career in business and I would like to
share some of the things that helped me along the way.
They are:
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Integrity
Hard Work
Going the extra Mile
Creativity
Self Confidence
Integrity & Ethics a Must
Let us talk about integrity; it is what creates peoples’ trust in you! There is
nothing more important to your success in business and your life than integrity. You
simply cannot compromise on your standards.
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I find it incredible that anyone, especially a top official at a company, would lie,
cheat or cook the books! As once you compromise your integrity you can never get it
back. No one will Trust you! Integrity is the cornerstone of your reputation. There is no
compromising on this one. Although there will be many opportunities and temptations to
cut a corner – Don’t do it! Your integrity is Priceless!
Secondly, Let’s talk about hard work
As a graduate of this program you know what hard work is all about! We all know
the demands and the structure of this program were extremely high. Now it is up to you
to generate the syllabus, create and meet your own deadlines, and achieve the honor roll
in all semesters of your life. As my son Andrew always says, “Be first-class – world
class!”
Thirdly, lets talk about “going the extra mile”
One thing I have learned is the extra effort does make the difference! I have
won more deals after having been told “No” than ones I have won up front. Extra effort
will set you apart as a winner!
Be Creative!
Think out of the box; generate new ways to solve problems! Creativity is valued
highly, creative problem solving even higher!
Self Confidence:
What we all desire out of life is realization of our goals, independence, security
and autonomy. I have learned over the years we all could use more self-confidence. We
fear failure. We believe we cannot afford to make a mistake. How can we possibly be
better than everyone else?
Let me tell you a story.
Once, I spoke at an MBA program at a university in the Deep South. After the
speech, in the question and answer period, a student stood up and said, “ I will never get
an opportunity to be like you, because, no one will find me here!” He complained that
no one from New York and Chicago ever even visits the school and no matter how good
he was he would never be found. Then, he simply sat down! Statement made!
In response I was compelled to share the story of my Late Friend – Jim Walter.
Jim Walter was born in the Deep South as well. He dropped out of high school, and then
joined the Navy during World War II. When the war was over Jim Walter returned to his
hometown and then bought a $400 truck. He became a truck driver.
One day he delivered a load of wood to a construction site of a new home. He
met the builder who was very happy, explaining that he sold the house for a $400 profit
the first day he started to build it. Jim Walter could not believe it. So the very next day,
he sold his truck and used the proceeds to start his very own homebuilding business.
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He had a very simple business plan. If you had the land he would build for you a
brand-new house and finance 100% of it! From this Jim Walter built one of the largest
homebuilders in the United States. And was the largest “on your lot” homebuilder in the
world!
From this simple beginning he built his company into a Fortune 300 company! I
am proud to be Chairman of that company today! Nobody found Jim Walter! He found
his opportunity!
The young man that proclaimed no one would find him had so many more
advantages, so much more education and so much more opportunity than Jim Walter.
But without self-confidence he was doomed to a career of waiting for something “good”
to “happen to him”.
Any person with self-confidence can MAKE IT HAPPEN. He needed to realize
it is not his school’s location; IT’S WHAT HE DID WITH HIS EDUCATION!
Here’s a simple example of self-confidence.
Many years ago, a large American shoe company sent two sales representatives
out to different parts of the Australian outback to see if they could drum up some
business. Some time later, the company received telegrams from both agents.
The first said, "No business here... people don't even wear shoes!"
The second one said, "Great opportunity here... the people don’t even wear shoes!"
Self Confidence!
There are many other such interesting stories.
Born in a small Arkansas town at the turn of the century, this African American
man’s father died when he was six. His family went on welfare when his mother, a maid,
lost her job during the Depression. At high school he was teased about his “Hick” accent,
bowlegs, and home made clothes.
Determined to succeed, he read self-help books and practiced speaking in front of
a mirror. Trying to get a loan to start his own magazine at the age of 24, he was finally
able to get a $500 loan secured by his mother’s furniture. Today John Johnson owns a
vast empire of businesses anchored by his famous Ebony magazine.
At 16, Richard Branson dropped out of school and started a youth magazine called
Student. He had of all things no publishing experience or money.
To keep the magazine above water, Branson began a mail order record business in
1970, and opened a record store in London, which he named "Virgin" because of his lack of
experience.
Today, Richard Branson's company also includes Virgin Atlantic Airways, famous
for its transatlantic service.
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Two tinkerers set up shop in one of their homes with the dream of being on the
leading edge of technology. They developed their company from there, and maybe you
will recognize its founder’s -William Hewlett and Dave Packard. Hewlett Packard! H-P!
There was a young man living in a government-funded housing project in
Pennsylvania. He dreamed of escaping the coalmines. His only hope was SPORTS.
You might recognize his name also, Mike Ditka, former Head Coach of the Chicago
Bears and National Sports Broadcaster.
Two brothers-in-law have a dream of starting a business together and start off
making $75 a week. They have a brilliantly simple marketing strategy; one product
served 31 different ways. Burt Baskin and Irv Robbins, founder’s of Baskin Robbins Ice
Cream.
An orphan from a poor family in Michigan dreams of being a baseball player,
dropping out of college he opens up a tiny pizza store. Tom Monaghan, founder of
Domino’s Pizza AND proud owner of the Detroit Tigers!
You see it is all about you!
How does one build self-confidence?
I have two suggestionsBuild your self-confidence by setting goals and do not worry about the other guy!
Celebrate your own success achieving your goals.
Form daily, weekly, and yearly goals. Build your success pattern slowly; Rome
wasn’t built in a day! You have a lifetime! Maximize your odds over a period of time.
Take small bites enjoy the meal!
Do not worry about the politics of the job! Because as my dad once said. “They
know who the producers are!
So set your goals to achieve a little at a time chip away at it and you will get
there!
The Compliment:
One of the most powerful tools in business is the genuine compliment. Not
accepting one - giving one! Those who give genuine compliments feel good, as they
fulfill the need for recognition IN OTHERS!
Genuine compliments paid to others show confidence and appreciation of those
around you. They will enjoy you as you are making them feel good. Compliments
polish the perception of who you are.
It is all about you!
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OK – now to summarize:
It is all about you
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How you build yourself from here
Your ability to learn and grow
Your ability to adapt
Be creative
Your Integrity is priceless
Build your own self confidence
 Build yourself with goals
 Compliment others
So, Your future career:
It is not about them, it is not about him, and it is not about her. It is about you!
You are ready! You are equipped! You have the best education available from a worldclass university. The University of Illinois!
From which came:
The first talking moving picture!
The first transistor!
The first light emitting diode!
The first silicone microchip!
The first computer!
The first browser!
The first MRI!
And thousands of other inventions the world uses in its daily life.
As a graduate of this MBA program, you inherit the mantel of leadership of this
outstanding institution.
As our University of Illinois President Joe White recently said, “I was surprised
by the score, Illinois 21, Michigan 7! But it was not basketball or football he was talking
about, the competition was Nobel prizes won by each University!
Illinois’ reputation has been firmly established by the outstanding graduates that
have preceded you –
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Mark Andreeseen, Founder of Netscape
Charles Bowsher, Comptroller General United States
Sam Skinner, Secretary of Transportation
Lester McKeever, Head of the Federal Reserve of Chicago
Wilma Vaught, Brigadier General
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Thomas Siebel, CEO and founder of Siebel Systems
Arnold Beckman, CEO and founder Beckman Instruments
Rick Hill, Founder and CEO Novellus Corp.
Bill Karnes, CEO of Beatrice foods
George Fisher CEO of Motorola and then CEO of Kodak
John Georges, CEO of International Paper
Thomas Murphy, CEO of General Motors
Steven Miller, CEO of Shell Oil Company
Jon Corzine, CEO of Goldman Sachs and Governor of New Jersey
Jack Welch, With 2 degrees from Illinois, CEO of General Electric
 All Illinois Graduates!
And one of my favorites, Doris Christopher, founder and CEO of The Pampered
Chef, she founded her company on the simple premise that she could design better
kitchen utensils. Recently Doris sold her business for $700 million to none other than Warren Buffett!
All of these people are University of Illinois graduates. They have gone before
you!
And …At this commencement this legacy is now passed into your hands. Respect
it! Honor it! And take it to a new standard of excellence!
The future is all about you! Because you can predict the future, simply by making
it happen!
Thank you!
Michael Tokarz
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