Goal of Learning - Grades, Learning, Understanding, Skill, Wealth and Power

Grades => Learning => Understanding => Skill => Wealth => Power

A) Grades :

If attendance was enough you wouldn't be asking this question.
You can attend classes and be none-the-wiser for hours spent.
Because this is Second-Hand-Knowledge.

If it's just about passing the exams you need to worry about
"Can I answer the question on the exam and get past the examiner with pass/good marks?" That's ALL!!

If one is low enough on the educational scale one can always find cram-guides or notes to mug-up. They solve the problem of getting marks. If that's all you need, use them and be happy.

However if that is NOT enough and you want to follow the "famous scientists and entrepreneurs" then you need to at least know the following.
One is the technical stream, the other is the business stream!!

B) Learning:

The famous scientists and entrepreneurs that you talk about didn't restrict themselves to the safety of being lead by a teacher alone. They went out of their way "on the path less trodden". And that made all the difference!!

Learning with "The Five Ws and One H" i.e. Who, What, When, Where, Why and How : Five Ws
This small poem is a good way to remember them:
"I keep six honest serving-men
(They taught me all I knew);
Their names are What and Why and When
And How and Where and Who."

C) Understanding:

Out of this What, How and Why in order of complexity are the most important questions in technical education.
a) A Beginner is normally concerned with "What and How"
b) Intermediate deals with small groups of "What, How and a bit of Why"
c) Advanced sees all 3 in action in the mind's eye esp. the Why and How flowing through the Whats in a local system as well as it's environment.

How broad/deep is your understanding of the topic?
Can you see internal and external relations between things?

Beginner to Master level. Normally we just study mostly theoretical aspects in our standard books.
a) Do you refer other better books?
b) Are you able to seek out answers for your own questions?
c) Are you able to find people who are better than you and can help you find the answers?

For example to take a concrete example of mechanical engineering :
1) Could you describe an internal combustion engine?
2) Do you understand what each part does and relation between things?
3) Could you make a simple and small working model of an engine using scrap parts?

D) Skill:

Skill is the capacity to DO something useful.
Normally it is more than just understanding.
It is the ability to Solve Problems and come up with Solutions.

Engineering:
1) Could you take the Engine apart?
2) Could you put it back together again?
3) Could you come up with a better design?
4) Do you know enough about different design options to choose a better configuration for a given circumstance?

Scientists:
1) Could you use a totally new way of making engines?
2) Could you create this technology from idea to reality via research?
3) Could you make it easy/cheap to manufacture by engineers?

E) Wealth:

Power is the capacity to Use the Skill and Barter it for something else.

Entrepreneur:
0) Understanding Demand and Supply. If there is no demand create it!!
1) Can you get a team of skilled scientists/engineers to do this for you?
2) Can you patent and copyright the process
3) Can you manufacture it?
4) Can you market it and get market share?
5) Can you become the market leader in this new technology?
6) Can you just license it to others and earn royalty using only Intellectual Property i.e. patents?

This requires team-work between disparate people - scientists, engineers, foundry-workers, supervisors, managers, marketing & sales people and lawyers and interacting with government regulations.

F) Power:

If you want Power then get into Politics which is the art of manipulating people. The most valuable resource of all!! :-D

Note : Wealth and Power need not come from an academic education since they are more about managing and manipulating People. So you can directly go through on-the-job training without necessity for education. Basic education helps to an extent I guess but is not a pre-condition.