...more than 3%. Figure 1 Demographics of US,source: US Census 2013 The millennials already constitute $1.3 trillion of spending by the consumers annually as estimated by the Boston Consulting Group. The economy is finally coming out of the slow growth phase; a part of the success is attributed to the millennials. And due to this annual growth in consumer spending, the growth rate is likely to reclaim its average rate of 3.5-4 % from the 2% now. One of the fileds where the millennials have already made a huge impact is education field. The number of students enrolled in colleges was 30% more in 2001 than 2000. The housing industry is expected to be the next industry benefitting from the millennials. A lot of things are unique in millenials which separates them from the previous generations. They are the biggest segment of population; hence the companies love to target them. To start with, this age group displays a high level of confidence, which may be attributed to the attention given by the parents and their high expectations from the millennials – and also the impact of the cell phone, internet and other electronic media.This is the first generation to completely grow online, and as a result the marketing mix which is used to target them needs to evolve. For example, this group is technically more tech savvy than the previous generation. So for selling products to them...
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...The New Great Generation Writers Joel Stein and Josh Sanburn make some particular and rhetorical choices in their portrayals of Millennials in their article posted in TIME magazine, “The New Greatest Generation”. The assessments they make are broad in their descriptions about the generation known as the Millennials: They’re narcissistic, They’re lazy, They’re entitled, They’re selfish, and even a bit delusional. Those are not just unfounded negative stereotypes about 80 million Americans born roughly between 1980 and 2000 (Stein and Sanbrun 3). The authors analyze a decade of sociological research. In this article, they examine the overwhelming negative data about Millennials and argue that rather than being inherently self-centered or overconfident, Millennials are just adapting quickly to a world undergoing rapid technological change. In this article they use a factual tone. The authors effectively use the rhetorical strategies of ethos, pathos, and logos to convince a mainstream audience that Millennials are adapting quickly through expert testimony and scientific data. While interviewing psychology professors, and english professors, the authors use a Journalistic approach as they employ a logos appeal for their article “The New Greatest Generation,” meanwhile convincing the mainstream audience that Millennials are adapting quickly to their ever evolving with technology and social media driven world. A psychology professor at California State University at Dominquez hills...
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...Millenial Women * “one of the reasons why I joined HubSpot was the companys flat culture….you can just do whatever you feel is the right thing to do…You have to feel ownership in order to care about the product you’re building” – I think the last part regarding ownership is key in that statement. How do we get people to feel a greater sense of ownership? * In millennial women, a statement was made where Maggie values how shes had the opportunitt to move laterally at hubspot to work on email * marketing, page optimization, PR, ebook creation, and more. Reading that, it feels almost like a rotational program. Is it possible/does it make sense to create some sort of rotational program that is more accessible for employees? There seems to be a sense that learning is critical for millennial women. Perhaps this is a way to help satisfy the need to learn and be challenged. * Women talked excitedly when their organizations knew them as people, challenged them with interesting work, connected them to a dymanc community and unleashed them to lead – See page 7, fig.3 * 94% of women want organziations to know who they are – “lunch example” * MD Chats – Connecting MD’s with high value employees giving them exposure * Point 2 – rotational program. Page 14, Fidelity has the GMA program that provides a platform for employees to get experience across multiple business units * Providing multiple paths for millenials to grow, even via lateral movement...
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...In the Entrepreneur article, “This is How Millennials Want to Be Managed,” Rob Reuteman explains how companies have to adapt Millennials, also known as Generation Y. The author uses surveys like from the Harvard Business Review and PricewaterhouseCoopers to explain what Millennials want from their employers. He also gives examples by using his interviews with other authors, a consultant and a CEO. This paper will analyze Reuteman’s article from the main points of who are Millennials, what issues the companies are facing by hiring Generation Y, and solutions for this “culture clash.” The first argument of the article is how to help minimize the frustration between older managers and Millennials. Lisa Orrell is the author of “Millennials Incorporated” and she advises companies on how to deal with Generation Y. She points out that Millennials do not feel valued or respected. One of the issues companies asks Orrell is “how to reduce the friction in the workplace?,” I could not agree more with her explanation that people will leave their managers, not the company. Companies need to adapt and “fire mediocre managers.” Reuteman mentions Dan Epstein to back up his arguments about the “culture clash” between Baby Boomers and Generation Y. Epstein is CEO of ReSource Pro, and 90 percent of his employees are Millennials. He sees a problem with mangers who expect millennials to respond well to the same training they received. This leads to a culture clash as millennials expect more accolades...
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...Texting in the millennial generation Text messaging has had a positive impact on our English language and has improved spelling and grammar for the millennial generation. This culture has appointed them inheritors of their own language (Delgado, 2014) and has prompted leaders to align themselves with the organization's vision (Kreitner & Kinicki, 2013/2014) as some educators believe that texting should be incorporated in classroom instruction. Today's college students are a part of the millennials which are also known as "the texting generation" who were born between 1982 and 2002 (NIU, 2015). They are considered the most diverse and their uniqueness and defining characteristics have been shaped by technology (Gladfelter and Friedman, 2014). Communication has become more electronic in form and experts say that children write more in this generation than they did 20 years ago because of texting and social media and most of that writing is text-speak, which is a SMS language commonly known in mobile text messaging (Merrit, 2013). A study found that texting may improve children's spelling and grammar because of using abbreviation such as 'gr8' in short for 'great', makes students think about language phonetically (Carter, 2014). According to author Judith Burns, believed that from a study shows that the most creative texters were among the best spellers (Burns, 2014). Research done with the Journal of Computer Assisted Learning discovered that the association between spelling...
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...Christina Lee Analysis of Business Issues The George Washington University October 13, 2015 There are many organizations in the world today that are composed of four generations of employees with an age range spanning more than 60 years. Each generation is a distinct group, including the Silent Generation (1925-1942), Baby Boomers (1943-1960), Generation X (1961-1981), and Generation Y or Millennials, (1982-2005). These dates are given by Strauss and Howe (1991) to define each generational cohort. Each of the generational cohort brings varying beliefs, work ethics, values, attitudes, and expectations with it to an organization (Niemiec, 2000). Generation Y is the most recent and potentially largest generation to enter the workforce. Generation Y’s have a drastically different outlook on what they expect from their employment experience. Generation Y’s are well educated, skilled in technology, very self-confident, able to multi-task, and have plenty of energy. They have high expectations for themselves, and prefer to work in teams, rather than as individuals. Generation Y’s seek challenges, yet work life balance is of utmost importance to them. They do, however, realize that their need for social interaction, immediate results in their work, and desire for speedy advancement may be seen as weaknesses by older colleagues. In order to establish whether or not Generation Y is motivated by the same elements as the generations before them, we will compare what motivates...
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...Name Instructor Subject Date Rhetoric Analysis: Millennials: The Me Me Me Generation by Joel Stein Introduction The millennial generation are an interesting group of social class that are going to change the world from their own point of view regardless of how the older generations view or relate to them. The article Millennials: The Me Me Me Generation is talking about the Millennials and how the society perceives them. The millennial is a group of the social generation that were born between the years 1980s to the beginning of the millennium in 2000. These individuals are also referred to as Generation Y, as the previous was known as generation X. The group is made up of mostly teenagers and adults still in their 20s as the author puts it. They make up about 80 million of the American population making them the biggest age group in the history of the United States. Analysing the rhetorical and Aristotelian elements of the essay, particularly the ethos, the pathos, and the logos as the writer applied them throughout the essay, goes on to prove the change the millennial represent Ethos Stain, the author expresses Ethos in the article as an appeal to the ethical side of the audience. The element seeks to convince, inform or entertain the audience about some of the subjects and objectives of the essay through the character and the credibility of the persuader (Banev, 104-107). Stein appeal to ethos may be a part where the writer tries to pass the point across based on...
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...Identifying the specific reason why Millennials have the lowest voting turning out rate than any other generation in history has been a question political analyst have been trying to determine for years. Millennials between 18 and 29 years old are approximately 550 million, yet they fail to out number the older generations during elections (Matta and Martin 1). Now, for the upcoming 2016 Presidential Election, it will be the first time the Millennial eligibility voting population will equal that of Baby Boomers. Investigating the reason for the absence of Millennials at the voting polls during the last decade of elections is important because if organized they are capable of having a major influence in shaping the government. When investigating the causes for low political engagement Millennials tend to exhibit three main traits: apathy, frustration and ignorance (Robert). However, in order to determine how these factors have contributed to the increased negative attitude towards the government and the lack of motivation to vote, it is important to compare the Millennial generation to past generations such as Generation X and Baby Boomers. The decrease in young voter attendance has been a constant problem throughout history, predominately due to their lack of motivation. Following the ratification of the 26th amendment in 1971 (lowering the voting age from 21 to 18), the 1972 Presidential election had the highest youth turn out rate in history. Since then, fewer and fewer young...
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... RETAINING THE GEN Y IN THE WORKFORCE: SOME SUGGESTION FOR FUTURE EMPLOYERS Sabri Hassan Assaari RETAINING THE GEN Y IN THE WORKFORCE: SOME SUGGESTION FOR FUTURE EMPLOYERS TABLE OF CONTENTS CONTENT ABSTRACT PROBLEM STATEMENT WHO IS GEN Y RECRUITING GEN Y TACKLE THE FAMILY MENTORSHIP CHALLENGING WORK WORK LIFE BALANCE GROWTH OPPORTUNITIES BENEFITS AND COMPENSATIONS CONCLUSION RECOMMENDATIONS REFERENCES PAGE 3 4 5 6 7 8 9 10 11 12 13 14 15 2 RETAINING THE GEN Y IN THE WORKFORCE: SOME SUGGESTION FOR FUTURE EMPLOYERS Abstract Generation Y or the Millenials are set to take over and revolutionize the world. Born and raised in a significantly different period and global culture compared to their predecessors, they seem to demand more from their employer. This paper present a study on Generation Y characteristic and strategies future employers can adopt to successfully retain them in the organization. Who are the Millenials, what attract them and what it takes to retain them in organizations? And after understanding their traits, what can be done by companies to harness Generation Y special characteristics and abilities for their survivals in the challenging marketplace. In the end this paper try to justify an answer to the question whether is it really important for companies to give extra attention to this Generation Y, or it will be just another passing fad that will lose its importance and forgotten, when the next big thing hits the global Human Resource fraternities. ...
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...table of content External Analysis: 2 Macro environment: 2 Meso environment: 5 Internal Analysis 7 SWOT Analysis Pepsi case: 9 Objectives 10 Marketing Strategy 10 Marketing Plan 12 Product 12 Place 14 Price 14 Budget & Control 15 External Analysis: Macro environment: The environment is constantly changing and therefore also influencing PepsiCo’s operations. Environmental changes which are not directly involved with the company but do influence it can be put in six categories: economic, technological, political, cultural, natural and international changes. These changes and their influence on PepsiCo Canada are described per category. Management R. L. Draft, M. Kendrick, N. Vershinina, the general environment page 85-91. Economic In March 2012 Canada’s economy was ranked 11th of the world with a GDP of $1,759 billion. Canada is a wealthy nation with a very high standard of living and is also one of the world’s top trading nations. Since the 2008 world financial crisis Canada has emerged as one of the strongest developed economies in the world. The GDP growth of Canada in 2010 was more than 3% even though most of the World’s Western countries were in an economic recession. The stability of the Canadian economy even during a World financial crisis makes Canada a great country to operate in for a multinational like PepsiCo. http://www.rediff.com/business/slide-show/slide-show-1-worlds-20-economic-superpowers/20120312.htm http://www.economywatch.com/world_economy/canada/...
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...about their future: 79% said they were. However, 77% said they worried about finances, and slightly more than half said they were frustrated with their career” (Sifferlin). Money is not a main reason to make a person happier either, according to Harvard Business Review, “Researchers have theorized that wealth makes us less generous because it makes us more isolated – and isolation also has a deleterious effect on happiness. Wealth is isolating for both psychological and physical reasons” (Raghunathan). Millenials are worried about their finances and frustrated with their careers. On the other hand, wealth makes people less generous which results in unhappiness. That contradicts itself and ultimately you end up unhappy either way. However, 79% of Millennials said they were optimistic about their future. That means that the Millenials do have hope in a happier and better future. Even though such a high percentage of Millennials are optimistic about their future, 77% of Millenials are concerned about finances and are unhappy with their career. Optimism can go so far until you start to become unhappy with your current state. In the end, the American Dream of happiness is not attainable. This is because whether you’re wealthy or worried about finances, you will still end up...
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...External Analysis: Macro environment: The environment is constantly changing and therefore also influencing PepsiCo’s operations. Environmental changes which are not directly involved with the company but do influence it can be put in six categories: economic, technological, political, cultural, natural and international changes. These changes and their influence on PepsiCo Canada are described per category. Management R. L. Draft, M. Kendrick, N. Vershinina, the general environment page 85-91. Economic In March 2012 Canada’s economy was ranked 11th of the world with a GDP of $1,759 billion. Canada is a wealthy nation with a very high standard of living and is also one of the world’s top trading nations. Since the 2008 world financial crisis Canada has emerged as one of the strongest developed economies in the world. The GDP growth of Canada in 2010 was more than 3% even though most of the World’s Western countries were in an economic recession. The stability of the Canadian economy even during a World financial crisis makes Canada a great country to operate in for a multinational like PepsiCo. http://www.rediff.com/business/slide-show/slide-show-1-worlds-20-economic-superpowers/20120312.htm http://www.economywatch.com/world_economy/canada/?page=full Technological The last decade many technological advancements and new innovations have been implemented in people’s life. This is also greatly affecting businesses. Internet, mobile phones and interactive TV...
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...the American dream, which was purchasing a home and having the satisfaction of becoming a proud property owner. At the alarming and increasing rate that students spend on education nowadays, it will eventually be safe to say that many individuals will have some very difficult decisions to make concerning what purchases take precedence over the other. Evidence has shown that earning a post-secondary education will be increasingly harder for students to accomplish overtime. There are many obstacles that have developed in modern times for today’s college students. Obstacles include but are not limited to the ability to finance a college education, and maintain that debt throughout the life of the loan. As presented in the USA TODAY article Millenials’ ball-and-chain: Student loan debt, “What's holding them all back: tens of thousands of dollars in student loan debt. Like countless Millennials across the country, they find themselves tethered to that debt load, stuck between the desire to...
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...Generational Conflict in the Workplace Tara Scott University of North Alabama MG-340 July 20, 2015 I declare and affirm that the work submitted herein is my own work product from my own labor, efforts, and endeavors, and that I did not receive seek, receive, offer, or accept unauthorized aid or assistance or use of the work product of another, unless otherwise so stated fully and completely herein. The workplace can be filled with many conflicts and negotiation situations daily. One of these types of situations occurs due to the fact that there are four generations present for the first time in America’s History. Generational differences can affect many aspects at work. In order to be able to work in such a diversified environment, management needs to identify the most effective methods for identifying potential conflicts and the best practice for resolution of the conflict. In order to grasp the most accurate and respectable feedback for each generation, a little background on each of the four generations characteristics is needed. The first generation, the traditionalist (born prior to 1946), are typically either retired or at retirement age but choose to continue working for various reasons. Traditionalist, also known as veterans or the silent generation, are typically hard working and loyal but are technologically challenged in most areas. Veterans tend to prefer class room style education and face-to-face contact for communication. They have been raised to...
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...price paid per bottle increase 6.3% * Pinot Noir - one of the higher priced red wines - sales have increased 3x since 2004 * Wine Drinkers * 57% of total wine drinkers are “core drinkers” - drink fairly often (weekly) * Makes up 25% of total adult population (21 and over) * 93% of wine consumed in the US is consumed by “core drinkers” * Average age of core drinker - 47.8 years old * Recent trends in the industry * Unlike previous generations, people are consuming wine at an earlier age (in their 20s and 30s vs. 40s and 50s) * Make up 29% of the total population * Consume 38% of wine in the US * Younger millenials (21-25 yrs): 28% drink wine regularly * Older Millenials (26-36 yrs): 19% drink wine regularly * Baby Boomers (49-67): 38% drink wine regularly Oregon * Less brand awareness compared to French/CA vineyards Areas possibly using analytics of some sort already * Websites * Social Media (Facebook, Twitter * Customer database - used for email and direct promotions Wine Club * Largest in OR * Increased by 609 members in 2013 Direct Sales (retail, in tasting room & remote sites, wine club, on-site events, kitchen & catering sales, other sales made directly to consumers) * Increased profit margins * 28% of total revenue was from direct sales in 2012 and 2013 Distributor Sales * Margins not as high ...
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