HBSAAA Conference Addresses Pathways to Power
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| Federal Reserve Vice Chairman Roger Ferguson and HBSAAA president Ken Powell: honoring pioneers and
celebrating bench strength. Photo Courtesy HBSAAA |
The HBS African-American Alumni Association (HBSAAA) presented its fifth annual conference, titled “Pathways to Power: From Success to Significance,” in Washington, D.C., October 11–13. “Bringing people together is an important objective,” said HBSAAA vice president Rena Clark (MBA '90), “but we also strive to present a highlevel perspective and in-depth understanding of the issues and trends that affect all our lives.” To that end, the conferences, held in a different U.S. city each year, have provided access to an impressive roster of corporate executives and public-sector officials, often drawn from the host city's leading industries and institutions. Observed HBSAAA president Ken Powell (MBA '74), “Our 2002 corporate sponsors, particularly Citigroup, Fannie Mae, Morgan Stanley, and those who have supported our events in the past, play an important role in our continued success.”
Federal Reserve Vice Chairman Roger Ferguson delivered the opening address of the 2002 conference following a reception and dinner held at the Kennedy Center's Roof Terrace Restaurant on Friday evening.
Ferguson discussed the changing nature and role of leadership today, and illustrated his talk with an insider's view of Federal Reserve Chairman Alan Greenspan. “Alan was by no means required to listen to me when I — a man many years his junior, with no national reputation — was appointed,” Ferguson recalled. “But he listens to everyone, judges ideas on their quality rather than on their source, and makes better decisions because of that.”
Financial consultant Andrew Brimmer, the first African American appointed to the Federal Reserve Board of Governors in 1966 (Ferguson, appointed in 1997, was the third), closed the conference with remarks at a Sunday brunch. Other featured speakers included BET president and COO Debra Lee and former FCC chairman William Kennard, now a managing director of The Carlyle Group. HBS professors James Cash and Linda Hill participated in a discussion on leadership, values, and decision-making, while their colleague David Thomas moderated a session that addressed alternative definitions of success.
Panels and keynote addresses presented on Saturday highlighted the conference theme of “Pathways to Power.” Cochairs Herman Bulls (MBA '85) and Ken Bacon (MBA '82) worked closely with Honorary Chair Dennis Hightower (MBA '74) and a program committee led by Jacqueline Adams (MBA '78) and Dayna Wilkinson (MBA '81) to present sessions on domestic and international politics as well as the fallout from corporate scandals.
Options for attaining personal, professional, and financial goals amidst momentous change in business and society were also explored. “Gathering in Washington provided a special opportunity to impart an appreciation for the dynamic intersection between business and government — an extension of BGIE for alumni,” commented Bulls, referring to the required MBA course, Business, Government, and the International Economy. “The program content was timely as always, but we also built on our past history of creating a connectivity event, which taps and celebrates the collective power of the HBS community.”
The enduring attraction of entrepreneurship informed a well-attended Venture Capital and Private Equity Summit that preceded the conference. Organized by Paula Groves (MBA '91) and Francine Starks (MBA '93), the full-day event offered workshops on the techniques venture capital firms employ to evaluate opportunities. Cathy Hughes, founder and chairman of Radio One, the largest African American– owned and operated broadcast company in the United States and the subject of an HBS case study, spoke at the opening reception. A team exercise led by HBS professor Paul Marshall then taught valuable lessons about the deal negotiation process dubbed “the term-sheet tango.” The event concluded with a Venture Fair, featuring presentations to potential investors by four finalists selected in advance from sixteen business plan entries.
HBSAAA president Powell pointed out that nine private-sector leaders selected by Fortune for its 2002 list of the “50 Most Powerful Black Executives in America” are HBS graduates, and nearly a quarter of the executives on the list have participated in HBSAAA conferences and events. “We will continue to mark the achievements of pioneers — the ‘firsts' in many instances — at our conferences,” Powell said, “but we will also play a role in building awareness of the bench strength in our community. A growing number of black executives wield power and influence and are in line for top jobs.”
— Mary Ellen Gardner
