Chapter 2

REVIEW OF RELATED LITERATURE

According to Nicole Smarrt (2017), college is not a prerequisite for success. She started
as an entry-level receptionist and rose through the ranks quickly, becoming a business
owner by age 25. College does not always dictate future success. Whether you attend or
not, you can be successful—it is about what you bring with you. While a college education
can produce many positive outcomes, it does not mean you will never be successful
without a degree. In addition, her company was recently acknowledged by Inc. Magazine
as one of the fastest-growing companies in the U.S. She have been featured in Forbes,
The Huffington Post, Entrepreneur, Wall Street Journal, and many other publications.
This literature is related to the study for it demonstrates a real life experience of a
businessperson who did not attend college but managed to have an own business at an
early age. Not only that, it shows how business become effective and become one of the
fastest-growing companies. But on some researches, having vocational certificate or
college degree is much better.
In a study conducted by Stephen Rose (2013) it says that to get a job with middle-income
wages in today’s economy requires at least some postsecondary education. For many, a
two-year degree or occupational certificate will be the best fit, but earning a bachelor’s
or—better—a professional or graduate degree remains a great choice for those who can
manage it.
Also, to remain economically competitive in the global marketplace, policymakers should
ask university leaders to adopt a broad-based, comprehensive reform of undergraduate
education to ensure that all students understand, pursue, and develop the proficiencies
needed for work, life, and responsible citizenship (Chunoo & Osteen, 2016). Completing
education nurtures expertise not only in work but in any domain.
There are also known entrepreneurs who lacks college education but are known for being
successful. Stephen J. Skripak, Anastasia Cortes and Anita Walz (2016) states about
going into business yourself. Marcia Kilgore started her first business "Bliss Spa" went
international, and she sold it for more than $30. She launched two more companies: Soap
and Glory, a supplier of affordable beauty products sold at Target, and FitFlops, which
sells sandals that tone and tighten your leg muscles as you walk. Kilgore never did finish
college, but when asked if she would follow the same path again, she said, “If I had to
decide what to do all over again, I would make the same choices…I found by accident
what I'm good at, and I'm glad I did”(p. 136)

Having a degree can qualify someone as an agent for economic change-- entrepreneur
and are more capable of being productive and having high income.
Educational attainment and completion are positively related to productivity, labor market
outcomes, and economic growth. College graduates who hold a college degree obtain
higher average earnings, are more likely to be employed, and are less likely to experience
poverty than individuals without a higher education degree. At the same time, individuals
who complete a higher education program acquire significant personal/social benefits,
including: higher cognitive skills, the ability to concentrate on job-related tasks, and the
desire to give back and participate in community service activities (Baum & Payea, 2013).

But even with the increasing number of those who have higher education, graduates are
not able of working in the field they should be in. According to Jonathan Horowitz(2018)
as educational attainment rises in the population, individuals with college degrees are
increasingly shuffled into lower-skilled jobs.
Another study shows understanding the purpose of higher education in regards to the
economic and social benefits of completing college degree. Today’s society needs
college graduates who are not only knowledgeable and intellectual, but also learners who
can holistically contribute to their communities Roy Chan(2016).