Notesale: Turn your study into money

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Is an ageing population (demographic change ) positive or negative for a
business?
Managing change refers to any approach to transitioning individuals, teams, and
organizations using methods intended to re-direct the use of resources, business
process, budget allocations, or other modes of operation that significantly reshape a
company or organization
...
An
ageing population is a social factor and one a business can anticipate and so a
contingency plan should be there to combat any difficulties it may bring with it as it is
sure to affect many business provisions such as their operations and sales
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As the population gets older the
national retirement age will become more distant
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An elderly workforce carries with it a lifetime of
experience and “know how” as well as strong skill sets in various industries
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If the expertise and skill-set of the elder generations are
harnessed correctly then it may be said that products and services created will be a
reflection of this
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Then productivity will also rise
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BMW have recently opened a car plant where all workers are over
the age of 50
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At the new £18m plant where car chassis‘ and drive components are put together,
much thought has been put into the aches and pains that society‘s more advanced
members feel
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BMW have done
this to utilise the experience gained by their colleagues over a number of years and as
there’s a skill shortage in the younger generations
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The German
Chamber of Industry and Commerce says Germany lacks about 400,000 skilled
workers, meaning there is a prediction of a higher return to work by seniors in the
years to come in all industries
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In addition to the fore mentioned, businesses may see an elderly population beneficial
for the business as it presents new found demand for various services and products it
provides
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As well as being among
the last workers to benefit from generous final salary pensions, many older people
have housing wealth, having got on to the property ladder long before the boom that
has priced out many younger buyers
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As a result, even though growing numbers of people are also approaching
retirement in debt, some are set to go on a spending spree – and a new wave of
businesses are lining up to cash in
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In preparation for this Easy Jet are accustoming
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EasyJet CEO Carolyn McCall proposed this change as an
integral part of their strategy and on the advice of easyJet’s Special Assistance
Advisory Group, which is chaired by the Right Hon
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The group has been discussing the issue for some time
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And
There is no doubt that with Europe’s population living longer, out of 61 million
passengers annually, the number of possible sufferers flying with EasyJet is likely to
increase
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To compare and
contrast the companies mentioned are evidently different with BMW operating a
focus based Porters generic strategies model as their specialised products and core
competency protect themselves against substitutes whilst Easy Jet generally strive for
cost leadership as one of Europe’s budget airlines their ability to offer lower prices
then the majority of their competitors sees them reap large demand
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In
comparison the two brands have both strong brand recognition is their respected fields
both coming in a subset of differentials for instance BMW,Audi and Mercedes make
up the subset of the car industry of focus strategy with high prices as the quality is
present to justify it whilst Ryan air and Easy Jet provide the cost leadership airlines in
the airline industry, Utilising the new challenges of the growing population on
contrast to their competitors will both see their future demand and ability to change
enforced
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The most notable cost an elderly population is likely to provide to a business is
to do with the pensions
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This is
reflected in the decrease in state pensions provided and so thousands of more people
are getting their pension through their workforce schemes
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The company will pay in too
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It can also be passed on to their employees with one notable
case being the John Lewis Partnership
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5m and it was an increase of £26
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The increase reflects changes to financial assumptions, growth in the
pensions scheme membership, and a one off costs in the year of £6
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The John Lewis partnership whom are renounced
for their treatment of staff say the high cost is making sure that the pension in the
future is both affordable to the partnership and fair for partners going forward
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It came out in 2016 at 10%
1% lower then 2015 and 4% lower then 2014
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Another negative affect an ageing population has on a business is
the general inability or the rejection of change
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The culture of a business will
contribute to the ability the business has to change and an ageing population will
contribute to the type of culture a business has with an ageing population presumably
likely to suit a role culture whereby they do their specific job and no further
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An elderly generation which have become
suited in operating in this fashion for numerous years is likely to reject change to
work practises should the company wish to implement them
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This also increases
labour mobility as older people in work are less reluctant to seek job change so there’s
increased difficulty in filling skill voids
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They lead the way
with the status as the most popular retail establishment in the world and the largest
digital platform for e-commerce transactions
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Pickers spend on estimate 8 hours on their feet at any
given shift and are filled with a young and fit workforce
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Out of the final 10 percent of employees over half are
in high end office jobs while the rest differentiate into various positions
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To contrast John Lewis and Amazon although
both huge companies they have very different leadership styles, Sir Charlie Mayfield

of JLP is a strong example of demographic with the emphasis in John Lewis and
Waitrose in employee participation and coherence with opportunities to employees
throughout the business to contribute to the business practises through the usage of a
dedicated website called partner voice only accessible to the employees of JLP
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In comparison however both companies started out in one route but have
diversified
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e
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Would such transitions be as successful with an older workforce?
disputable but I think not
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Primarily
the fact that it creates increased costs to business not just in the case of greater
pension payments but also businesses are likely to pay or face higher absenteeism due
to increased health issues associated with an older generation as well as lower labour
productivity
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Despite the older generation having the
access to such courses, university students are a majority of the younger generations
and so the older generations are unlikely to have the necessary expertise to operate
various technology which could be costly to a business as it may have to provide
additional training
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The prospect that ageing generations are
negative to business is dependant on a number factors however
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In addition the prospect of a company preferring an
older employee with a lot of experience on contrast to a younger worker may not be
realistic as the younger candidate can provide much more service to the company on
contrast to the older worker who only have few years work in him
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