I recently spoke to local Hispanic business leaders and challenged them to create opportunities for educating the Latino population, which lags behind all other ethnic groups.

Today, Hispanics are now the largest minority group in the U.S. at 47 million individuals and growing. More than half of Maryland’s 66,000 new residents last year were Hispanic. In Virginia, Hispanics represented a third of the state’s 113,000 new residents. Yet statewide, the high school dropout rate among Hispanics last year was 19.1 percent, compared with 11.3 percent for blacks and 5.6 percent for whites, according to the Virginia Department of Education for on-time graduation.

Washington, D.C. is the fourth largest economy in the United States, with the nation’s most educated workforce and the lowest unemployment rate in the nation. But Hispanics are falling through the cracks because of their limited education. The DC area is home to more than 1,000 international firms from 50 countries and it is growing. The Washington Business Journal reported that Hispanic business ownership has surged to 54% in the D.C. area.

Today firms are dedicated to recruiting an educated workforce from a diverse population that truly understands its customers, clients, members and employees to ensure its success. Educated Latinos are in high demand for corporations.

At the School of Management, 9% of the total enrollment is Hispanic. Among declared majors, the largest percentage of Hispanic students are majoring in management and accounting.

Nationally for college students, graduation rates run 15-20 percentage points lower for black and Hispanic students compared to whites. But Mason is among only 11 institutions nationwide with little or no disparity in graduation rates between black and Hispanic students and white students.  At Mason, 57 percent of whites graduate, compared with 59 percent of Hispanics and 63 percent of blacks.

The Hispanic population is growing and we have a great opportunity to take advantage of the resources available to us, and to impact the communities where we live. Our Hispanic students and entrepreneurs are lucky because you are starting your career in a time when opportunities abound for the Latino community. New funds are being collected for support programs. New enterprises are on the rise, and we live in an area where great resources are at our disposal.

Our region is growing each day. And we must all do our part in helping the economy and continue this growth. Another report cited that 14.7% of the total US population is now Hispanic with a market size of 43 million and a buying power of $750 billion. These are staggering statistics. We, as a group, have great power in making a strong impact on the economy. We can help bolster this recession.

And so I encourage you to start your own businesses and help become part of the solution for economic growth. Take on more risk and more initiative to create growth and jobs for the future. Use your individual experiences of diversity to build bridges to other cultures, and share your knowledge. Encourage education in the youth of our communities.

Remember there are also now many entrepreneurs or business leaders that are role models in the Latin community: Indra Nooyi (CEO, PepsiCo), Jacqueline Hernández (COO, Telemundo) or he’s the next Antonio Perez (CEO, Eastman Kodak) or Cesar Conde (President, Univision Networks).

And never forget what brought each of us to the US. What brought your parents or your grandparents? Was it for freedom or opportunities? The US is a nation of immigrants, made stronger by the differences we hold. And we should stand together and celebrate these differences and share our collective wisdom. We should remember that our Hispanic community is about building relationships and helping each other. Never forget to speak with pride for your heritage.

Washington, D.C. has the nation’s most educated workforce and the region is ranked third in entrepreneurial activity. According to INC Magazine, we have the largest number of fastest-growing private companies in America.

Our region is growing each day, and with unemployment rates significantly below the national average, we offer our students more opportunities to join a global corporation or venture and more opportunities to have an impact on our global business futures. The opportunities don’t end here in Washington. Today the opportunities for our students are truly global, and our graduates are increasing work around the world.

We are also very fortunate to live in a place with such a strong entrepreneurial history to inspire us. In 1607, the first successful English settlement in North America was founded in Virginia. Did you know that one important purpose of Jamestown was to provide investors with some profits from gold mining? These people were entrepreneurs, braving the unknown in search of something greater.

And although the economy has been very tough in the past few years, history proves that during tough economic times, our nation emerges stronger because of our entrepreneurial spirit. Many great companies were founded during times of recession—General Electric was formed during the panic of 1873; the Great Depression saw the beginnings of United Technologies (1929), Hewlett Packard (1939), and Revlon (1932); Apple Computer was founded during the recession of the ’80s and Google during the downturn in the ’90s; and P&G, IBM and FedEx were started during major economic downturns too.

Now is the time for entrepreneurs to follow their passions and career aspirations.

Remember that each face that passes you in the street could belong to the next entrepreneur or business leader who changes the world for the better. Maybe she’s the next Meg Whitman, or he’s the next Warren Buffet or Steve Jobs.

I am often asked if there are any tips for becoming a successful entrepreneur. We know that there is no specific course of action that applies to all entrepreneurial endeavors, but here are a few lessons we have learned along the way.

Get excited. Research has shown that one of the major predictors of success for entrepreneurs is their level of excitement and passion for what they are doing. Successful entrepreneurs do have that “special spark” of interest and passion—and yes, sometimes obsession—with their companies. So be sure to “plan your destiny” and “pursue your passions.”

Take on a mentor. The number one predictor of success as an entrepreneur is experience. Those who have been through the process before—even if they had an earlier failure—are much more likely to succeed. Learn from others who have the experience and that includes our own faculty at the School of Management. Our faculty are not only experienced entrepreneurs themselves but they have experience mentoring others. They run annual events such as the Young Entrepreneurs Academy, Dean’s Business Plan Competition, and Mason Entrepreneurship Research Conference. Our faculty also teach entrepreneurship labs and run the Next Step for Entrepreneurs program.

Don’t do this alone. We know that small teams of 3, 4 or 5 individuals are much more likely to succeed than the “Lone Ranger” entrepreneur. Our success truly depends upon our relationships.

Stick with it. Persistence is another trait of the successful entrepreneur. Many, in fact most, entrepreneurs have one or two or more failures behind them. Just one quick example: let’s go back to my mention of Steve Jobs and Apple Computers. We all know how wildly successful Apple is now, even surpassing Microsoft in market value as the largest computer firm. But do you remember the Apple “Lisa” machine and the “Newton” handheld device? And how many of you even knew about Steve Job’s venture called “Next”? Even for Steve Jobs, there were many failures on the road to global success.

We’ve all heard this quote from Thomas Edison before, but it certainly rings true. Remember that “Genius is one percent inspiration and ninety-nine percent perspiration.”

Often innovation begins with a company’s leadership. In a presentation titled Transformational Leadership: Context Learning, the Key to Achieving Extraordinary Performance, I spoke to participants about the importance of transformational leadership. When we think of transformation, we think of change. But, a transformational leader is someone who alters what they can be by shifting their perspectives and interpretations of themselves and the world around them. Transformational learning is altering what you can do by expanding your available tools.

Leaders must realize that their success and possibilities are limited by their beliefs. We all act the way we do based on our past experiences. By expanding both a leader’s and their employee’s current beliefs, and improving communication, we can expand our goals. We can improve our productivity through the alignment of goals, processes and culture. But we must remember collaboration will be required for the alignment of culture to enterprise goals.

Keep in mind, we can all be transformational in our lives – we just need to shift both our perspective and the perspective of others. I was thrilled that I had the opportunity to share this message with my colleagues at the CLADEA 2011 Assembly of leaders in the field of business education.

As part of our dedication to this important topic, George Mason University School of Management has recently established the Center for Global Business Innovation and Transformation (CGBIT). This center was established to bring in dedicated scholars and offer students a place to learn from and work directly with leading scholars in cutting edge fields, and to meet the increasing need for international education and research. And we are pleased to announce that Robert Grosse, current dean of the EGADE Business School in Monterrey Tec, Mexico is leading the center.

In addition, we recently held our first annual Symposium on Business Globalization. In this rapidly changing business environment, the opportunity for discussions of global business issues is both timely and valuable. Bringing together students, faculty, alumni, and business leaders is a vital step in moving research and business practices forward and discussing ongoing issues, opportunities, and challenges that businesses face. Such events provide important direction for the future.

It is our hope that our renewed focus on business globalization through our Center and the Symposium, will generate many new collaborations and will also provide the opportunity for individuals to expand each other’s knowledge and learn from one another on this topic of great importance.

As educators, all we can do is strive to provide a more comprehensive understanding of today’s global business and bring awareness to one another.

As the Dalai Lama said, “Every individual has a responsibility to help guide our global family in the right direction. Good wishes are not sufficient; we must become actively engaged.”

Peter Drucker, the father of modern management, once said, “The best way to predict the future is to create it.” You can create your own future.

For those starting new programs, this will open the door to a new chapter in your career and your life. Be sure to take advantage of the many opportunities you have available to you in your program. You will get out of your education what you put into it. Keep your mind open to learning and venturing well beyond what you think is possible.

At the early age of 17, I came from Puerto Rico to the mainland United States for the first time to our nation’s capital. I had the entire world ahead of me, and no idea where I was headed. As I stood on the steps of the Capitol building, I sensed an unclear dream in my heart of my possible future. 

Just a year later, as so many of us have done, I stood eagerly in the halls of my university, soaking in knowledge and wisdom, not truly knowing how far my education would take me. I never imagined that the progression of my life would bring me back to Washington—to this powerful intersection of economics and politics—to a city that had such an impact on my young self. We never know the path that our life will take, but it is up to us to take the steps to create the life we want.

For students…join clubs, take internships, find a mentor, shadow a business leader, attend a lecture series.

For alumni and business leaders… remember how your education helped you and give back. Partner with schools. Teach with faculty. Join boards. Mentor students and offer internships. Be a guest speaker in classrooms. Hire graduates. Help with scholarships.

I once heard a quote that said, “Some people succeed because they are destined to, but most people succeed because they are determined to.”

Work hard, stay focused, and you can achieve your goals.

In the 2011 U.S. News & World Report ranking released on March 15, our Evening MBA program jumped to #59 among all part-time MBA programs in the U.S.

We are again ranked as one of the top 100 undergraduate business programs according to U.S. News & World Report.

School of Management faculty are ranked 86 in research productivity in the University of Texas at Dallas ranking of the top 100 North American business schools.

We are proud of where we are and excited at where we are going. In addition to the highlights already mentioned, we have also been busy implementing new academic programs, offering relevant co-curricular activities and events, expanding our faculty research, and establishing new centers of excellence including the Center for Real Estate Entrepreneurship, Center for Global Business Innovation & Transformation, and the Investor Protection and Corporate Fraud Research Center. These centers have been established to bring in dedicated scholars and offer students a place to learn from and work directly with leading scholars in cutting edge fields.

This year marks the first graduating class of our MS in Real Estate Development program.

Recognizing the rapidly changing global world, at the School of Management, we know the importance of educating our students for new issues that now exist in the business world. We live in a world based on global markets and hidden threats. Fifty years ago, an attack on your business meant a new competitor entering the market. Today’s threats happen in the cyber world. And we’re excited to share that at the School of Management, we aim to fill the need for management level cyber experts through the development of a new graduate program, the MS in Management of Secure Information Systems, which we are planning to launch this fall.

And this is not the only new program we’re offering. With an anticipated start date of October of this year, we are expanding our Executive MBA programs with new delivery formats. We will begin a distance education Executive MBA program offering all classes online to students around the country and around the world, where new students have the opportunity to join a cohort three times per year. And we will also begin one new EMBA cohort through a partnership with Cairo University in Cairo, Egypt.

We understand that it is vital for current and future business leaders to be aware of the cultural, political, and economical nuances across the globe that impact the way business is conducted, in the United States and abroad. As part of our dedication to this important topic, we not only incorporate such topics within our programs’ curricula but also hosted the Symposium on Business Globalization which brought together students, faculty, alumni, and business leaders to discuss ongoing issues, opportunities, and challenges that businesses face and collaborate on the direction we should take in the future.

Through these activities, the George Mason School of Management is preparing the next generation of global business leaders and meeting the needs of the regional business community working in a complex global business environment.

I’m proud of the strides we’ve made this year and excited about our plans for the coming years. This is an exciting time at George Mason’s School of Management as we implement our initiatives in the coming years, and I invite you to become a part of our story.

We are currently incorporating CSR into courses, and particularly, our student organizations have also taken a great lead in introducing it to other students. For instance, Beta Alpha Psi, our accounting honor society, hosted a panel to educate our next generation of global leaders on the importance of CSR.

Business leaders—regionally, nationally and internationally—are increasingly becoming aware of the importance of CSR. The School of Management is currently working on new initiatives with the Fairfax County Chamber of Commerce and numerous local businesses to elevate the conversation among local business leaders. From helping the hungry and homeless to supporting education and career development, engaging in sustainability projects and much more, businesses in Fairfax County are committed to the community in which they operate, and we are setting a great example.

We need to continue to share the importance of CSR with other business leaders. One approach is by increasing the number of documented success stories so we can help prove that CSR is cost effective and that sustainability is a competitive advantage.

As you can see, here at Mason we are already becoming a focal point for CSR work. Mason recently announced the creation of the Center for Social Entrepreneurship and Innovation which will become a hub for CSR. The School of Management will play a vital role in the center’s development. In addition, Mason has a partnership with the Phoenix Project, a Virginia-initiated project to develop and implement effective social media tools to create high-quality student service learning.

At the School of Management, we strongly believe that our responsibility goes beyond providing our students and business leaders with rigorous academic courses; our responsibility is to people, the planet, as well as to business profits. We must take it upon ourselves to create a future and to build a community that we are proud to pass on to future generations, and do what is right for the environment and mankind.

It is my hope that one day, we will no longer have to use the term Corporate Social Responsibility or CSR. One day, it will just be responsibility and responsible business.