"Walter Mondale, former U.S. vice president and ambassador to Japan, addresses Virginia Tech's first executive MBA graduates. (Photo by Rick Griffiths)

Walter Mondale addresses EMBA graduates at Mount Vernon

National Capital Region, Va. -- June 13, 2005

Ethical leadership and global vision are two of the most critical elements for American business today, former Vice President Walter Mondale told 23 graduates of the inaugural class of the executive MBA program at Virginia Tech's Pamplin College of Business, National Capital Region, during a ceremony held at Mount Vernon Estate and Gardens on Saturday, June 11.

"We live in a world where increasingly sophisticated business operations necessarily require faith in the people running our corporations. When business leaders betray that faith, they harm their workers, their shareholders, their communities, and the reputation and integrity of our national economy," Mondale said. "But ethical business leadership does not simply mean avoiding fraud and not stealing from corporate coffers. We should already expect that from our business leaders. A five-year old knows better, so should those people entrusted with a company's future. Ethical business leadership means tackling the leading crises of the day."

In addressing the importance of global vision, Mondale focused on competition. "We compete by innovating, by becoming the world's laboratory and think tank. We cannot go back in time and compete on wages. By creating new products, new strategies, new ideas, we will succeed as an economy and as a nation."

"We compete by maintaining honest markets with sterling integrity. Foreign direct investment follows open, transparent markets. By keeping our markets open, and by defending the integrity of American business, we encourage the world to invest in America."

"Finally," he said, "we compete by learning more."

Mondale commended the 23 business executives and other senior professionals from the Washington, D.C., and Richmond areas for completing the intensive 18-month program.

"In reading through the biographies of this class, I was deeply impressed by the breadth and depth of experiences of this class. You have already achieved great professional accomplishments – but it is an additional credit to you, that you recognize the importance of life-long learning," he said.

"As you graduate from Pamplin, you have added greater knowledge to your already impressive wisdom and experience. You have also given yourself new tools to compete more successfully, not only for yourself but your companies and your country," Mondale said.

The executive MBA program, offered at Virginia Tech in the National Capital Region, was established in 2004 to provide executives continuing education in accounting, economics, organizational behavior, and decision theory. The program focuses on high-growth companies, globalization and entrepreneurial executive leadership. The program admitted its second cohort of students in February 2005 and will be enrolling a third class for a program starting in September.

Virginia Tech has fostered a growing partnership with the greater metropolitan Washington D.C. community since 1969. Today, the university′s presence in the National Capital Region includes graduate programs and research centers in Alexandria, Falls Church, Leesburg, Manassas, and Middleburg. In addition to supporting the university's teaching and research mission, Virginia Tech′s National Capital Region has established collaborations with local and federal agencies, businesses, and other institutions of higher education.