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NEWS
Henley offers scholarships to investigative journalists
Henley offers scholarships to investigative journalists

5 trends that can keep the South African MBA relevant
5 trends that can keep the South African MBA relevant

We need to realign government, business and civil society
We need to realign government, business and civil society

Life as a full-time MBA student
Life as a full-time MBA student

Brexit delay provides breathing space for SA
Brexit delay provides breathing space for SA

MSA joins the ADvTECH family
MSA joins the ADvTECH family

SA plunges to 117 out of 149 in gender wage equality
SA plunges to 117 out of 149 in gender wage equality

UCT’s Executive MBA recognised for its distinctive approach
UCT’s Executive MBA recognised for its distinctive approach

GIBS Executive MBA programme debuts in top 50
GIBS Executive MBA programme debuts in top 50

Can Africa fill the glass?
Can Africa fill the glass?

YALI AFRICA launch at Unisa
YALI AFRICA launch at Unisa

The fake resurrection of South Africa
The fake resurrection of South Africa

Don't panic: The digital revolution isn’t that unusual
Don't panic: The digital revolution isn’t that unusual

Why Agile works
Why Agile works

How firms can avoid the mediocrity trap
How firms can avoid the mediocrity trap

How a 100000-strong company is relearning how to innovate
How a 100000-strong company is relearning how to innovate

The changing shape of the MBA
The changing shape of the MBA

Adding climate change to curriculum is a top priority
Adding climate change to curriculum is a top priority

The MBA should turn you into a business disruptor
The MBA should turn you into a business disruptor

Innovation in SA organisations driven by C-level support
Innovation in SA organisations driven by C-level support

UNISA SBL a torch-bearer of training for military veterans
UNISA SBL a torch-bearer of training for military veterans

Scaling up the MBA for relevance in the 4IR
Scaling up the MBA for relevance in the 4IR

Moody's: SA not out of the woods yet
Moody's: SA not out of the woods yet

GIBS manufacturing-focused MBA kicks off in Durban
GIBS manufacturing-focused MBA kicks off in Durban

Henley’s Makhoalibe selected for sought-after programme
Henley’s Makhoalibe selected for sought-after programme

Personal potential, a source of power
Personal potential, a source of power

Reach your business leadership potential with a MBA from WBS
Reach your business leadership potential with a MBA from WBS

MPC: SA needs a period of stable interest rates
MPC: SA needs a period of stable interest rates

SA’s energy problems just the tip of the iceberg
SA’s energy problems just the tip of the iceberg

What's really driving disruption?
What's really driving disruption?

Why has there been such a failure of leadership?
Why has there been such a failure of leadership?

Steinhoff: Exactly where does responsibility stop and start?
Steinhoff: Exactly where does responsibility stop and start?

The cure for the loneliness of command
The cure for the loneliness of command

How to survive in the age of digital transformation
How to survive in the age of digital transformation

New MBA timetable starts in 2016
New MBA timetable starts in 2016

EVENTS
Henley MBA & PGDIP Preview Day
Henley MBA & PGDIP Preview Day
29 May 2019,
Pretoria

UCT GSB MBA Information Sessions
UCT GSB MBA Information Sessions
15 October 2019,
Johannesburg



03 DECEMBER 2018
Embrace failure if you want to succeed
Most successful entrepreneurs have experienced failure, said talent manager, author and educator Dr Mathew Knowles, at the launch of his new book in Cape Town at the UCT Graduate School of Business.

Entrepreneurs must embrace failure and view it as part of a journey to build a successful business, according to renowned talent manager, author, and educator Dr Mathew Knowles.

“Most successful entrepreneurs have experienced failure,” said Knowles, adding that what matters most is how an individual reacts to a major setback.

Knowles, a successful music executive and entrepreneur who managed Destiny's Child, one of the most popular female R&B groups of the late 1990s as well as the careers of his own award-winning daughters Beyoncé and Solange, encouraged entrepreneurs never to give up and to focus on what they are passionate about. He was speaking at a well-attended event at the UCT Graduate School of Business (GSB) at the weekend to launch his new book titled "The Emancipation of Slaves Through Music".

The foundation of any successful entrepreneur is passion and a strong work ethic continued Knowles. “Ask yourself ‘what am I passionate about’…. the thing that excites you…. Work ethic and passion co-exist,” he said.

He added that prosperous entrepreneurs also focus on building strong teams, and think outside the box. Forward thinking is also a key ingredient for success.

“If you are an entrepreneur you have to be forward thinking. With Beyoncé, from a publicity point of view, we would look five years ahead, literally,” said Knowles. “Failure to plan is planning to fail… strategic planning is key.”

Kurt April, Allan Gray Professor in Leadership, Diversity and Inclusion at the UCT GSB, who facilitated the discussion with Knowles, also emphasised the need to embrace failure.

“If you visit many angel investors [high net-worth individual or groups willing to take a chance and invest in high-risk businesses], the first question they ask you is ‘what are your scars… failure is critical to get funded,” said April.

In a recent Forbes article, Russ Alan Prince, the president of the market research and consulting firm Prince & Associates, Inc, says that failing is just about inevitable, but the most successful entrepreneurs actually benefit from their failures.

“It is their ability to learn from their mistakes and move forwards that significantly contributes to their professional and financial accomplishments… With failure being just about a given, the most successful entrepreneurs are the ones who become smarter from these experiences.”

Prince cites renowned enterprises and artists who made it after initially facing major setbacks. Henry Ford went broke five times and was advised to stay away from the automobile industry; Walt Disney when looking to finance Walt Disney World was turned down about 300 times; five record companies chose not to sign the Beatles.

Knowles has an MBA in Strategic Planning and Organisational Culture and a PhD in Business Administration from Cornerstone Christian Bible College, and has held professorships at Texas Southern University, where he taught both undergraduate and graduate level courses on the entertainment industry and entrepreneurship.

In his new book, he examines the liberating effects of music on an oppressed people, its secret use during slavery up through its eventual commercialisation in the industry, exposing the art form’s true power. Music helped the slaves – who came from a variety of different backgrounds and language groups – to communicate, he emphasised.

The conversation at the UCT GSB delved into issues of race and identity, which continue to bedevil both South Africa and the US.

“Am I black or am I African American? My next book will focus on this,” said Knowles. “I am curious to research about this. A white person said to me during dinner, that ‘I am citizen of America and I was born in Africa and I consider myself an African American’. So I am really excited about this book.”

He also pointed out that “colourism” was major issue across the world.

“Even in music I talk about this [colourism]… who are the black female artists that are successful in America? Beyoncé, Mariah Carey, Alicia Keys, Cardi B. What do they all have in common? They are all light skinned. This is not accidental,” said Knowles.
Source:

University of Cape Town Graduate School of Business
UCT GSB is internationally renowned as one of a few business schools in Africa with the prestigious triple-crown accreditation with endorsements from EQUIS, AACSB and AMBA. As a top school with more than five decades of experience in Africa and other emerging markets, UCT GSB has a responsibility to engage with its socio-political and economic context. Its teaching, learning and research are directed towards addressing the complex and pressing economic and social challenges of our world today. Visit our InfoCentre or website.

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