MBNA's Struthers Asks Graduates To Define Success
MBNA's Struthers Asks Graduates To Define Success
UNIVERSITY PARK, PA (May 16, 2005)—Richard K. Struthers '77, vice chairman and chief lending officer of MBNA, offered the commencement address at the May 15 graduation ceremony for Penn State's Smeal College of Business.
Struthers is responsible for all of MBNA's international operations, consumer finance, business lending, and the company's American Express relationship. A member of the management team that established MBNA in 1982, he has more than 26 years of management experience in retail lending and has managed most of the major operating divisions of the company. Struthers also serves as chair of the Smeal Board of Visitors.
During his speech, Struthers asked graduates to define success for themselves and formulate a plan to keep striving for higher goals.
On what lies ahead:
"Winston Churchill, once said, 'This is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.' This quote is very appropriate for today.
"You, the Smeal Class of 2005, are well prepared and ready to start the next beginning. You have been educated by some of the best and have been given the opportunity to succeed. Now comes the hard part—embracing opportunities to continue your success in the years ahead."
On opportunity and success:
"Opportunity and success are related and, in many ways, very similar. Both entail hard work. Both require knowledge. Both benefit from courage, and both involve a bit of luck.
"Opportunity and success are seldom far from each other. Where you see opportunity, you will also find a road to success. Where you see success, you will also discover opportunity.
"But, how do you find opportunities and how do you define success? In what direction do you head so that you can live a prosperous life?"
On attitude:
"As I look back over the years since I graduated from Penn State. I have seen that most of the opportunities and successes I had came from me having the right attitude. I know that may sound simple, and it is, however, it still is not always easy.
"Throughout my career, I competed with many people who were smarter than me but when problems arose or setbacks loomed, I would always keep a positive attitude and move forward. Some of my peers didn't, and I was able to move past them. Attitude was the key component of my achievements since leaving Penn State.
"As I have already said, success will mean different things to each of you. Regardless of what success means to you, to truly prosper, you must have the right attitude to guide you, especially during difficult times.
"A quote on our company's wall reads, 'It's the attitude, not the aptitude, that determines your altitude.'"
On giving back:
"As you achieve your goals, I also ask that you remember to give back. In fact, we all have benefited from an opportunity at some point in our lives. Not just an opportunity handed to you like a gift, but an opportunity as an open door. A door that was opened for you by others who wanted to see you succeed in college.
"With success comes responsibility to open doors for others. We need others—others to work with, others to thrive with, others with whom to build a strong community.
"We each have a responsibility to help open doors for others not as fortunate. Whether you volunteer your time, contribute money, or simply mentor others who need your guidance—that is the surest way to build a community of giving.
"Why wait for tomorrow, when today you can start to change the world by adopting an attitude of enthusiasm by seizing each day and making a difference in other people's lives. Today is the end of the beginning and the beginning of the new."
REPORTERS & EDITORS: For more information, please contact Wyatt DuBois in the Smeal College of Business Media Relations Office at 814-863-3798 or wed112@psu.edu.
Penn State's Smeal College of Business offers highly ranked undergraduate, MBA, executive MBA, Ph.D., and executive education opportunities to more than 5,500 students at all levels. Featuring academic departments of accounting, finance, marketing, insurance and real estate, management, and supply chain and information systems, the college is also home to major research centers such as the Center for Supply Chain Research, the Institute for the Study of Business Markets, the eBusiness Research Center, the Farrell Center for Corporate Innovation and Entrepreneurship, the Center for Global Business Studies, and the Center for the Management of Technological and Organizational Change.
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REPORTERS & EDITORS: For more information, please contact Wyatt DuBois in the Smeal College of Business Media Relations Office at 814-863-3798 or wed112@psu.edu.
Penn State's Smeal College of Business offers highly ranked undergraduate, MBA, executive MBA, Ph.D., and executive education opportunities to more than 5,500 students at all levels. Featuring academic departments of accounting, finance, marketing, insurance and real estate, management, and supply chain and information systems, the college is also home to major research centers such as the Center for Supply Chain Research, the Institute for the Study of Business Markets, the Center for Digital Transformation, the Farrell Center for Corporate Innovation and Entrepreneurship, the Center for Global Business Studies, and the Center for the Management of Technological and Organizational Change.
