JOURNAL ABSTRACT

March 17, 2015

Bibliography
Sutherland, Spencer, A Mountain to Climb, Utah Business, February 2015, pp. 61-63.
Summary of Content
Two Utah universities conducted a study that has shown that minorities are less
likely to obtain small business loans than white applicants. They had nine people involved
in the study-three white, three black, and three Hispanic. All three of them were similar in
physical features, as well as identical education and financial status. They all wanted the
same amount of funding for the same type of business.
The minority applicants were less likely to get loan advice, a business card, or
simply a smile. They were also asked more often to show financial statements, tax returns,
and back account information. There was also little assistance or encouragement for the
minority applicants. White applicants had double the probability to be given aid in
completing the loan application or given a business card.
Another study was done with 39 entrepreneurs-16 white, 13 Hispanic, and 10
black. They were all asked to share how they felt about their past experiences in seeking
financing for their businesses. One white business owner described it as, a long
triathlonit sucks all the energy out of your bodybut [at least] you can see the other
side. One of the black business owners described it as, climbing Mount Everest-close
to impossible.
Minorities and whites also differed in their expectations for their relationships with
lenders. The white business owners saw it as a partnership. While minority business
owners, on the other hand, were struggling searching for minority lending companies, or
companies who were actually willing to work with them, because the big banks werent.
Some minority business owners even describe using white people as props, to take with
them to meetings with lenders or clients, in an effort to improve their relationship with the
lender.
Application to This Course
The information in this article can be applied to Company because as we become
business owners, we need to make sure that there is absolutely no discrimination towards
minorities in our businesses. There is discrimination against minorities everywhere, not
just in small business loan companies. Some of the most brilliant people in the world are
minorities, and we could be denying them success simply because of their race.
In Good to Great, we learn about Level 5 leaders. A Level 5 leader would most
certainly not deny a minority an employment opportunity just because they are black or
Hispanic. A Level 5 leader looks deeper than even skills and qualifications, he or she looks
for moral character in applicants.

Personal Reaction
In my opinion, this article was absolutely phenomenal. I selected this particular
subject matter because I was interested to see what types of discriminations still go on in
the workplace today. This article really opened my eyes to see that racism still occurs,
even today, in America. It is completely ridiculous that minorities are less likely to receive
small business loans simply because they are black or Hispanic. This article was important
enough to be included in a national magazine because corporate America needs to see
the discrimination that is going on in the workplace; it needs to be put to an end.
One quote I really loved by Christensen said, Which Steve Jobs did we leave on
the side of the road because we didnt offer funding? Thats the reality as a business
community and a culture if there is not an equal playing field to allow all talent to rise. If
that question doesnt strike you, I dont know what does. There are probably some brilliant
innovations out there that have never made it to the market, only because the person who
came up with it is a different color of skin than white. That is pathetic. America is supposed
to be a land of equality, yet we are still denying opportunities like small business loans to
minorities. Christensen said, The world is not a level playing field maybe it never will be.
But that doesnt mean its not worth fighting for.
Vocabulary
Disparate - Essentially different in kind; not allowing comparison.
The two songs were so disparate; you could easily tell their two different genres.
Deleterious Causing harm or damage.
Studies have shown that drugs are very deleterious to the human body, causing severe
illnesses and even death.
Cognizant Having knowledge or being aware of.
My sister is very cognizant of me; she is always concerned about my well-being and calls
to see how Im doing.