Defining Value LO20536
Mon, 1 Feb 1999 10:48:17 -0500

Replying to LO20521 --

Hello Tom et al,

This is my first post, but I wanted to thank everyone who posts for their
insights and thoughts, as I definitely enjoy and gain from the

Brief bio - Recent grad from Kalamazoo College, BA Psych 6-98, and now
employed in the field of HR with an employers association group in
Detroit, MI. I am currently pursuing post-bac studies in basic business in
prep for, hopefully, a combined degree of probably MBA/OB persuasion, so
maybe some day I can stretch out the initials at the end of my name to
cover 2 lines ; -)

anyway.. the reason for my response..

Tom's 1st example -

1) I know jeans made in India with the same factory, materials, workers,
patterns, etc- at the end someone stitches on a vanity logo on one pair
and a no name logo on the other- retail- one pair at 40-60 USD the other
at about 16-20 USD retail-- (In the knowledge game would we call the
differential in the pricing "intellectual capital? ...grin...) The same
holds for university diplomas and other certifications- but is there a
difference here. I have cited the fact that there are two universities,
one pvt and the other public- both use adjuncts- the same adjunct, the
same text, the same syllabus, and a price differential of about 3:1 why?

I am of course biased, but coming from a Detroit Public school background
- a la public university - with my high school about 3 times larger than
K-College, and a private liberal arts collegiate experience.. I just HAD
to respond .. so here goes..

The 3:1 price differential of public vs private colleges is due to the
fact that you generally have much more individual attention, smaller class
sizes, more alumni personal connections, and in my case at K a quarter
system that condensed a 16 week semester into 10 weeks so needless to say
more stress and different styles of evaluation.. so no scantrons or
multiple choice tests like at certain unnamed public universities which
value athletics more than academics.. ...grin...

so, speaking from a value standpoint, I "valued" individual attention and
dialogue with professors, not TA's (like at above referred to big name
schools), much more than that $$ "lost" in higher tuition costs... [ Keep
in mind this is all hindsight views, and I am not at all HAPPY about my
loan status, but I definitely value my education more and more every day,
especially when I modestly ...grin... compare my intellect to others who
have the big university name and title.. but none of the substance...

As for the jeans example.. could not agree more.. an admitted practitioner
though of name brand watching at different points in my day.. but if all
you are paying for is the label than that is your value set.. image not
substance.. but if for example, you pay $XX more for a Jansport backpack
or a timberland pair of boots, than you are paying for the name, and the
quality that seems to back it up..

[case in point, sent a jansport back to the manufacturer for repair from
Spain, and get a new one for free **** if there's a jansport rep out
there, please email me privately for the address to send my testimonial
check ...grin... *** ]

Example 3 - chemistry degree programs - quick answer.. yes, they are both
accredited, but if at Kzoo College, we have some of the leaders in the
field, than of course that chem student will learn about the cutting edge
and that expertise and of course the resources that seem to follow (or
lead) the knowledge will not be available at ACME Chemistry school and
nail salon...

So sometimes you get what you pay for.. and sometimes you don't... but a
la Microecon, the whole point is what is the opportunity cost of the
transaction.. what did I give up going to K instead of a bigger name
public university that cost less, and in my opinion, would have been far
less stressful... [ sorry to say this, (well not really) you don't hear
about the great binge drinking at small private universities, but it
definitely seems to come with the territory at "Big name public
universities'... doesn't mean drinking doesn't happen, just doesn't seem
to occur so heavily.. BUT the values of the students are different..
emphasis is GENERALLY placed more on academics than on social issues.. but
let a liberal arts educated guy get going after that exam/paper is
finished, LOOK OUT! ; -)

Have a great week everybody...


Sorry for the long post, but I figured At and Winfried (spelling?, sorry)
can't have all the fun!


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