Week 4:1
What would the busy person’s MBA look like? There are and have been fora, leadership academies that deliver short courses that people need, to fulfil acute shortcomings e.g. I need leadership training now, get me leadership training now.
The removal of a compulsory retirement age in the UK (it was 65, and since Oct 2011 it is completely abolished) means that all companies need to re-assess every part of their (contractual) relationship with their employees. Business schools have a job on their hands adjusting every part of business training and research to include this massive change. Do you “force people out”, do you pre-agree an age? How are the needs of older employees different from those of the younger? I am not even sure whether the differences are meaningful.
One has factoids such as: the older age group is less faddish, they want to know what they are getting into, work for the longer term (in purchasing this means that they will take longer over decisions but are then more prepared to pay more).
How does one encourage entrepreneurship in the over-50’s? This group is more reluctant to start new businesses than those who are younger however they have a much higher success rate. Of course I can’t point to a study that says this and would love to, so at this stage it’s just hearsay (but I heard it said by someone who is very very busy, able and engaged in the field. And it feels about right.
When I mentioned this stat to someone else she asked me whether the higher success rate was because the older person is more experienced or whether he/she has been trying and trying and is now, finally successful? Anything is possible in the plethora of human experiences but there must be commonalities – frustrations or missed opportunities – that can be extracted and worked with.
Does one lower the risk?
Point being that not enough business interest or research interest is focussed on older age groups. 10% of advertising revenue is directed at over-50’s which is the group that owns 80% of the money. Action point: I want to be able to get folk who have either been an older entrepreneur or who are doing new products for this market – or including this market – for the Conversaziones.