Amid current business and social atmosphere ruled with uncertainty, shaky investor confidence, church and accounting scandals, and aftershocks from the events of Sept. 11, strategies for dealing with challenges have never been more relevant. Optimism, a strong network of peers and mentors, leadership, and performance—all are important ingredients for success in coping with and overcoming challenges and uncertainty.

Addressing the theme “Transcending Short-Term Challenges While Building for the Future,” business and management leaders and experts shared nuggets of wisdom at the 4th annual Enhancing Black Leadership Day, held June 7 at the Rice Memorial Center, Rice University. About 200 professionals, managers, business owners and leaders attended the conference, jointly sponsored by the Rice University Executive Education, Association of Rice University Black Alumni, and the National Black MBA Association-Houston Chapter.
As the economy slowly recuperates and Americans grapple with crises of ethics and leadership in churches and corporations, bad news has infiltrated the nation’s psyche, says Jennifer Lewis Hall, anchor at CNBC Business News, who delivered the lunch keynote.
“The unsettling and disturbing events surrounding Enron have become one of the most highly publicized business stories of all time,” says Hall. “The story has put accountability and corporate accounting in the front line. Amid the backdrop of accounting scandals, we see investors selling off stock of numerous companies—companies that investors feel haven’t been forthcoming with access or their accounting practices.”

The story of business gone bad is only part of a bigger story that affects the African-American community, Hall says. “There is evidence that the African-American community suffers more during the period of recession, as a result of unemployment,” she says. “Data reveals minorities tend to experience higher unemployment rates compared to the general population across the entire business cycle. During times of recession, unemployment rates of Hispanics and African-Americans tend to rise by about 3.6% compared to a rise of 2.6% in the overall labor market.”

Experts say economic recovery is under way, however, says Hall. “While the stock market continues to rise and fall, the underlying trend is that the economy is turning the corner. Consumer confidence remains strong and interest rates are at historic lows,” she says.