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Swami Vivekananda once said, “ Arise, awake and do not stop until the goal is reached
”. This is a very interesting quote for the younger generation looking to achieving their life’s ambitions. Today’s generation is very unique as compared to previous generations. They have grown up with technology; be it computers, smartphone & tech gadgets & gizmos. This places them at an interesting spot, as they can leverage their understanding of technology to reach their goals.
Making Their Mark Across Fields
Today, we are seeing youngsters make their mark across fields be to incorporate, business, sport, politics, media & entertainment. From Saina Nehwal to Sachin Pilot, youngsters are evolving into able leaders in their respective fields. India is a young country with over 50per cent of our population under the age of 25 years and 65per cent under the age of 35. With a youth population of over 600 million, India can harness their skills and talents towards nation building and build a more vibrant nation.
With their education, experience & skillsets, young people are bringing in a breath of fresh air across industry sectors. Today, we are also seeing many young people taking the entrepreneurial plunge leaving their secure jobs in the corporate world to set up their own business.
Increasingly Taking up Leadership Roles
Within corporates, we are also seeing more young people take leadership roles in terms of drive the growth and success of organizations. Young leaders are far more dynamic, energetic and risk-taking given that they come in without prior baggage or inhibitions from the past. Another important quality is that youngsters believe in working smartly to achieve their goals.
India has traditionally seen a focus on family businesses. We have seen multiple examples of successful family businesses from generations be it Tatas, Birlas or Ambanis. This kind of businesses sees entire families become a part of the business. Bringing second generation leaders to join the business is a good decision as it enables them to grow personally and also contribute to the success of the business.The success of a family business is dependent on the 3 ‘S’'s mantra - Skills, Scale and Succession
. This mantra is as relevant for the younger generation to be successful as it was for the previous generation.
Bringing Global Expertise & Exposure
A majority of the second generation leaders who join the family business have studied in foreign universities or have worked abroad for some time prior to joining the business. This enables them to apply their learnings, experience, expertise and international exposure to growing the business and taking it to the next level. Young people bring in a fresh perspective of sustaining the business by making effective utilization of global best practices.
The younger generation places more importance on innovation, deeper relations with employees and paying more attention to CSR activities and giving back to society. Millennials and Gen Z are digitally savvy and have a deep understanding of the needs of today’s evolving consumer. They are brimming with ideas, energy and enthusiasm coupled with a desire to bring about changes in social conduct and attitudes. They can break stereotypes, embrace best practices and think out-of-the-box.
That said, the new generation is surely going to have a positive impact on the corporate and business world in whatever role they take up. We will increasingly see young people take up leadership roles and making big decisions for the growth and success of organizations, in the near future.