Show l l' l t 1 1 j 1 1 Visits I iI i f I r Stacie Peart Peart l 1 Campus Editor i Patrick Byrne chairman and president of spoke to students on Friday October 1st Hes He's one of several several several sev sev- eral speakers the business department brings in to give students a real world business perspective Students filled room inthe in inthe inthe the business building to listen to Byrne talk about his Byrne took time to to answer questions after his speech Hes not your typical corporate corporate cor cor- guy said Robin Roberson a business instructor tor as she introduced Byrne to the audience During his speech Byrne gave those in attendance advice on business He told his own story and how he built Using the words of Warren Buffett Byrnes Byrne's mentor he explained that the students needed to understand earnings 1 I and market value He also J suggested that students should i ionly only invest in a company if they could believe in it five 1 I years down the road 1 Byrne also discussed popular popular popular lar companies such as Ebay c cHe He said that Ebay is successful successful successful success- success f ful because other companies a online cant can't compete with it t tl He explained that Ebay started started started start- start c ed by trading PEZ FEZ dispensers E f. Ebay then became the place cl cJ where more buyers are pur- pur ei eJ er chasing online Byrne explained that if youre you're selling selling sell sell- selling ing merchandise online youre you're going to the bidding site that has the most buyers Byrne spoke of how has recently launched a frontal attack on Ebay He said that is the only online company that could compete with Ebay He talked about how the theNet theNet theNet Net is a good place for fragmented fragmented fragmented frag frag- buyers and sellers He explained the problems with retail stores only wanting massive amounts of products and how sometimes theres there's only of an item In the past buyers and sellers in the fragmented market would purchase the items then find someone to purchase them This has been made easier with the Internet because buyers buyers buy buy- ers and sellers can now reach more people After talking about online business Byrne discussed how general education can help one make the transition from an employee to a man- man ager iger He also answered students student's stu- stu lents lent's questions about general business and how he started lis his career in business Byrne answered one students student's stu stu- lents lent's question about why he ired feed all of his Harvard graduate ate te employees He explained that lat at he believes that a persons person's character is very important He e said teaching people to change hange their character is hard- hard r than showing them how to do the job Dr Byrne has shared his philosophy of business with our students on five occasions since 2001 Robinson said His to down-to- earth message really gets through and students realized the importance of establishing valuable character traits now According to a handout containing his biography Byrne as well as being a successful successful successful suc suc- business man is a scholar athletic and philan philan- As a scholar Byrne has received his bachelors bachelor's degree at Dartmouth in Asian Studies and Philosophy He went on onto onto onto to receive his masters master's degree at Cambridge in Ethic and Moral Philosophy Followed by a doctorate in Philosophy at Stanford University Byrne is very athletic and has black belts in Tae K Kwon won wonDo Do and Hap Kai Do He has has' also survived cancer three times Byrne has gone across the United States four times on bike and has pursued a career in professional boxing During his speech at Byrne said that there was a good reason he didn't continue contin contin- ue his career in boxing He humorously depicted his last boxing match by saying that his head looked like it was full of golf balls While his opponent opponent opponent nent looked like he could have gone to a photo shoot That was when Byrne decided that there must be an easier way to make money Also mentioned in the handout was Byrnes Byrne's World Vision as a philanthropist Byrnes Byrne's PhD underlined philosophical issues related to poverty and economic economic development Byrne expanded on his World Vision during the question question question ques ques- tion and answer portion of the meeting He introduced another company separate from called He explained that in countries such as Afghanistan helps mostly women by selling their products products products prod prod- to a large group of con con- sumers This helps more of the products to be sold more affordably to those in the US Byrne said that is a socially responsible company and that they are the largest employer in Afghanistan According to his biography his company provides support to a school in Calcutta for orphans and slum kids Byrne helped students realize realize realize real real- ize the reality of the business world The students at the event received valuable information information information mation for their futures Students interested in the Entrepreneurship Forum can sign up for the one credit hour class MGT 2950 This class meets every Friday at the Redwood Campus from 1100 am a.m. to 11 1150 50 am a.m. Speakers selected from successful business owners across the Wasatch Front will share experiences in business business business busi busi- ness Robinson said Students are given the benefit benefit benefit bene bene- fit of wisdom acquired through the school of hard knocks l fI r |